Griffin Mining Stock

Griffin Mining Limited, a mining company, engages in mining, exploration and development of resource property. Griffin, through two joint ventures, has a controlling interest in mining and exploration licenses approximately 67 square kilometers in the Caijiaying area of the Hebei Province (Caijiaying) in the Peoples Republic of China (the PRC). Commissioning of the mine and processing facilities at Caijiaying has commenced with an initial production rate of 200,000 tones of ore per annum to produce some 22,000 tones of zinc metal plus gold, silver and other associated metals.

Griffin’s initial interest in Caijiaying was obtained through its local Chinese subsidiary company the Hebei Hua' Ao Mining Development Company Limited (Hebei Hua-Ao). Hebei Hua-Ao is a contractual joint venture entity established in 1994 in which Griffin, through its wholly owned Australian subsidiary company China Zinc Pty, Ltd., holds a 60% equity interest and the Chinese joint venture partners (which include the Zhangjiakou City People’s Government, the Hebei Bureau of Geology and Mineral Resources and the Third Geological Brigade) have a 40% interest.

In 2004 a second contractual joint venture company, the Hebei Sino Anglo Mining Development Company Limited (Hebei Anglo), was formed to hold the exploration license approximately 55.7 square kilometers and any further areas of interest in the Hebei Province. Griffin, through its wholly owned UK subsidiary company, Panda Resources Limited, has a 90% interest in Hebei Anglo.