First Quarter Production

RNS Announcement

RNS Number : 2066V

Griffin Mining Ld

13 April 2021

GRIFFIN MINING LIMITED

8th Floor, Royal Trust House, 54-56 Jermyn Street, London. SW1Y 6LX, United Kingdom

Telephone: + 44 (0)20 7629 7772 Facsimile: + 44 (0)20 7629 7773

E mail: [email protected]

First Quarter Production

13^th April 2021

Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce production results for the three months to 31^st March 2021.

		3 months to 31^st March 2021	3 months to 31^st March 2020
Ore mined	Tonnes	185,520	114,206
Ore processed	Tonnes	200,209	122,523
Zinc in concentrate Produced	Tonnes	8,231	5,017
Gold in concentrate produced	Ozs	3,504	1,181
Silver in concentrate produced	Ozs	63,607	41,669
Lead in concentrate produced	Tonnes	234	176
Average zinc price received per tonne	USD	2,161	1,211
Average gold price received per oz	USD	1,645	1,508
Average silver price received per oz	USD	20.0	12.9
Average lead price received per tonne	USD	1,591	1,026

Overview

As in previous years, production in the first quarter of the year was impacted by the Chinese New Year holidays when mining was suspended and processing scaled back as personnel leave during the holiday period allowing maintenance work to be undertaken. Production in the first quarter of 2020 had been impacted by the suspension of operations at Caijiaying imposed by the Chinese authorities for a month in late January / February and subsequent travel restrictions to contain the Covid 19 pandemic. However, tonnes processed in the first quarter of 2021 were up 12.1% on that achieved in the first quarter of 2019 of 178,615 tonnes and zinc metal in concentrate produced was up 12.8% on that achieved in the first quarter of 2019 of 7,303 tonnes.

About Griffin Mining Limited

Griffin Mining Limited's shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM). Griffin Mining Limited owns and operates through its 88.8% owned Joint Venture in China the Caijiaying Zinc Gold Mine, a profitable mine producing zinc, gold, silver, and lead metals in concentrates. For more information, please visit the Company's website giffinmining.com.

Further information:

Griffin Mining Limited	Telephone: +44 (0)20 7629 7772
Mladen Ninkov - Chairman Roger Goodwin - Finance Director
Panmure Gordon (UK) Limited	Telephone: +44 (0)20 7886 2500
John Prior Joanna Langley
Berenberg	Telephone: +44 (0)20 3207 7800
Matthew Armitt Jennifer Wyllie Deltir Elezi
Blythewigh	Telephone: +44(0)20 7138 3205
Tim Blythe
Swiss Resource Capital AG	Telephone: +41(0)71 354 8501
Jochen Staiger

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END

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RNS metadata

Title: First Quarter Production
Time: 07:00:03
Date: 13 Apr 2021
Category: Trading updates
ID: 2066V