Update on Salamon

RNS Number:7169S
Ormonde Mining PLC
02 December 2003

                               Ormonde Mining plc

               Excellent Gold results from Salamon expand target


  * Sampling of alteration below the main Salamon deposit returns average gold
    grades of 8.6 g/t and a maximum value of 44.8 g/t gold.

  * Samples of silicified conglomerate occurring in the hangingwall,
    structurally above the deposit, return best values of 9.7 and 8.8 g/t gold
    within newly recognised mineralized host rock.

  * Gold system interpreted to be more extensive than previously thought and
    exploration programme to be extended to encompass these additional
    high-grade zones above and below the main deposit.


The Board of Ormonde Mining plc ("Ormonde" or "the Company") is very pleased to
announce that surface sampling of rock units above and below the main
carbonate-hosted gold zone being tested by ongoing drilling at Salamon, has
returned high gold grades and suggests a larger mineralizing system. The current
resource at Salamon is estimated to be some 190,000 ounces of gold at an average
grade of 9 g/t.

Twenty short surface channel samples (0.3 to 0.9 metres length) collected from
two traverses through a 25 metre wide zone of silicification and dolomitisation
in the footwall to the main mineralized zone returned an average grade of 8.6 g/
t gold, with best values of 44.8, 26.8, 23.7, 12.9 and 10.9 g/t gold. These
excellent initial results will be followed-up by continuous sampling from
trenching. Previous sampling of similar footwall alteration in three localities
further east by SIEMCALSA, Ormonde's joint venture partner, returned average
grades of 31.1, 27.6 and 125.5 g/t gold, respectively, with a maximum value of
198.8 g/t (6.4 ozs) gold and these areas will also be channel sampled.

In addition, a thick sequence of conglomerates structurally overlying the
carbonate-hosted gold mineralization has also been sampled where these rocks
show silicification and oxidation of sulphides. In the main area identified to
date, four samples returned grades of 9.7, 8.8, 7.0 and 3.2 g/t gold
respectively. Mineralization in these conglomerates represents a new gold zone
previously untested, and the joint venture will now undertake more detailed
sampling of this unit.

The Company believes that at Salamon, the carbonate-hosted gold mineralization
has many affinities with the prolific Carlin-type deposits of Nevada, which
extend through several stratigraphic units, a similarity now being recognised at
Salamon. Chairman Colin Andrew commented, "These results are excellent news as
it means we are now exploring multiple mineralized high grade horizons and we
are looking forward to further results from Salamon".

The current drilling programme will be completed in December and further results
should be available over the next 3-5 weeks and will be reported in the early
New Year. The Directors are also pleased to report that preparatory work has
been completed in relation to relevant permitting for drilling on the Portas
prospect at Trives, some 180 kilometres from Salamon. The Company expects to
commence drilling in the New Year.



Enquiries to:

Kerr Anderson - Managing Director

Ormonde Mining plc

Tel: [phone]

[e-mail]

Colin Andrew - Chairman

Ormonde Mining plc

Tel: [phone]

[e-mail]

John Carroll - Director

Ormonde Mining plc

Tel: [phone]

[e-mail]

Eugenee Mulhern

Davy Corporate Finance Limited

Tel: [phone]

2 December, 2003

ENDS


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

DRLDFLFBXLBBFBD