Highlights§ Infill reserve drill results received from the Stinger Gold Deposit confirm excellent continuity of high grade gold mineralization from surface.

§ Selected drill results include:

OPRC0924: 4m @ 45.59g/t Au from 6m (incl: 1m @ 172g/t fr 7m)
OPRC0931: 4m @ 32.58g/t Au from 14m (incl: 1m @ 121g/t fr 14m)
OPRC0915: 2m @ 56.35g/t Au from 2m (incl: 1m @ 106g/t fr 2m)
OPRC0939: 3m @ 35.20g/t Au from 18m (incl:1m @ 104g/t fr 22m)
OPRC0571: 14m @ 6.98g/t Au from surface
OPRC0562: 8m @ 11.83g/t Au from 12m

§ High grade oxide material at Stinger Gold Deposit will now be brought forward in the mine scheduling to increase the total high grade component for the processing plant in the first few years.

§ Further un-tested high priority drill targets identified in the Stinger Mineralized Corridor with a new soil geochemical anomaly defined over a +3,300 m  2  area with results up to 16.8g/t gold.

Gryphon Minerals Limited (ASX:GRY) is pleased to announce further high grade infill Reverse Circulation (RC) drilling results from the Stinger Gold Deposit, at the Company's flagship Banfora Gold Project in Burkina Faso, West Africa.
Gryphon Minerals Managing Director Stephen Parsons commented: "The latest drill results from the satellite Stinger Gold Deposit confirm further shallow high grade gold mineralisation with excellent grade continuity that will be targeted in the first few years of mine production to further enhance the economics of the Banfora Gold Project.
"In addition to some of these exceptionally high grade results, the definition of an exciting new gold anomaly over 3,300m  2  with results of up to 16.8g/t gold, highlights the huge overall potential of the Stinger Mineralised Corridor.

Stinger Gold Deposit| Banfora Gold Project
These latest drill results are from Reverse Circulation (RC) drilling conducted at the Stinger Gold Deposit. Drilling is infill, targeting shallow mineralisation down to 30m vertical depth across 180m of strike of the central ore body. The current drill pattern was conducted on a close spaced mining grid pattern with holes inclined 60  0  towards UTM 135.
Drilling was designed to confirm the current geological model and evaluate the local continuity of high grade mineralisation at the deposit as part of the mine planning process. Additionally drilling was targeted to test the potential to add higher grade oxide ore feed into the current mining schedule from Stinger.
The current work is an extension of the previously released Nogbele Reserve Drilling program with highly encouraging results received from the completed infill drilling program
(Refer to ASX announcement 15 May 2013). Drilling was conducted during the 2013 field season which concluded in May 2013.
Selection of drill results: Greater than 50 gram metre intercepts from infill drilling at the Stinger Gold Deposit

§ OPRC0924 4m @ 45.59 g/t gold from 6m, including 1m @ 172 g/t from 7m

§ OPRC0931 4m @ 32.58 g/t gold from 14m, including 1m @ 121 g/t from 14m

§ OPRC0915 2m @ 56.35 g/t gold from 2m, including 1m @ 106 g/t from 2m

§ OPRC0939 3m @ 35.20 g/t gold from 18m, including 1m @ 104 g/t from 22m

§ OPRC0571 14m @ 6.98 g/t gold from surface

§ OPRC0562 8m @ 11.83 g/t gold from 12m

§ OPRC0950 5m @ 18.06 g/t gold from surface

§ OPRC0528 17m @ 5.11 g/t gold from 8m

§ OPRC0430 7m @ 11.81 g/t gold from 15m

§ OPRC0526 3m @ 26.77 g/t gold from 26m

§ OPRC0527 16m @ 3.65 g/t gold from 13m

§ OPRC0431 16m @ 3.47 g/t gold from 12m

Geological Discussion of Drill Results
Mineralisation at the Stinger Gold Deposit is hosted in a north-east trending package of volcanics and volcanoclastics which has been pervasively intruded by a granodioirite dyke swarm. The main orebody is hosted on the contact of a significant granodiorite plug with the main shear zone steeply dipping to the north-west. Multiple narrow flat lying high grade zones radiate from the main structure. Mineralization is associated with a sericite, carbonate, hematite, pyrite alteration assemblage with varying degrees of silicification and albitization.
Recent drilling has confirmed a tight plunge component, moderately plunging to the south-west of the high grade mineralisation within the main structure. The high grade shoots in the main structures contain consistently elevated grades while the flat structures are characterised by occasional extremely high grade mineralisation with individual assays up to 172 g/t in a generally lower grade background. Preliminary screenfire assays have confirmed the coarse nature of gold.

New High Priority Targets: Stinger Mineralised Corridor
Recent soil geochemical sampling across the Stinger Mineralised Corridor has defined a large anomaly which extends across 3,300m  2  within which soils are >60ppb gold, 10 of which are above 1,000ppb gold and up to a peak of 16.8g/t gold. The core of the new main anomaly, which is un-associated with any artisanal workings, is 1,500m strike length above 240ppb gold.
Previous shallow reconnaissance rotary air blast (RAB) drilling was undertaken before these soil geochemical sampling results and intersected significant high grade gold along the margin of this anomaly. This new anomaly is a high priority drill target which demands upcoming drilling.
Drill results included:

§ BNAC5324 2m @ 54.7 g/t

§ BNRC2678 3m @ 38.04 g/t gold from 52m and 6m @ 6.36g/t gold from 58m

§ BNRC3232 8m @ 7.09 g/t gold from 53m

§ BNAC5299 4m @ 9.52 g/t

§ BNRC3974 8m @ 6.93 g/t gold from 38m

Refer ASX announcements of 16 February 2012 and 13 November 2012.
Background | Banfora Gold Project - Burkina Faso, West Africa
The Banfora Gold Project at 4.9 million ounces (resource estimate) of gold, is one of the largest undeveloped gold projects in West Africa and certainly growing in scale on the world stage. The project is located in the south-west of Burkina Faso, West Africa, in a major gold producing district host to such world class gold deposits as Tongon (4.2Moz) Syama (6.5Moz) and Morila (6.5Moz). The project is owned 100% by Gryphon and contains continuous exploration licenses covering approximately 1,200 square kilometres of a major gold district. The project is easily accessible by road and is in close proximity to the town of Banfora and the major city of Bobo-Dioulasso. Grid power is located approximately 30 kilometres from the eastern boundary of the project
Detailed information on all aspects of Gryphons' projects can be found on the Company's comprehensive website www.gryphonminerals.com.au.
For further information in relation to the group's activities please visit our website www.gryphonminerals.com.au.
Yours faithfully
Stephen Parsons
Managing Director

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