Griffin Mining Limited

10/30/2019 | Press release | Distributed by Public on 10/30/2019 07:56

MINING LICENCE UPDATE

MINING LICENCE UPDATE

30th October 2019

Further to the announcements made on 8th August and 20th September regarding the progress of Griffin Mining Limited's ('Griffin' or the 'Company') Chinese subsidiary's (Hebei Hua Ao Mining Industry Company Limited) mining licence application ('MLA') for Zone II at the Caijiaying Mine with the Beijing Ministry of Natural Resources ('MNR'), the MNR was expected to provide its approval and issuance of the new mining licence within 40 business days of the MLA acceptance date of the 8th August 2019. As previously announced, the 40 business day period was suspended on the 13th August 2019 and reinstated subsequently with 35 business days remaining. The Company received notification today from the Beijing MNR that further clarification was required concerning farming surface rights, as a result of which the acceptance period was again suspended with effect from 24th October 2019. A formal response with the full support of local, municipal and provincial levels of government has been prepared for submission to the Beijing MNR with the expectation it will resolve the issue.

The Company's Chairman Mr. Mladen Ninkov commented, 'Yet another administrative delay after so many previous administrative delays in the ongoing MLA process. I believe shareholders have become far too accustomed to these delays, yet we all hope this is the last and we continue to look forward to the day we receive the new mining licence.'