Latest release today:Step Out Drilling at Nangolo Prospect Hits...

Latest release today:

Step Out Drilling at Nangolo Prospect Hits 22m @ 2.72g/t & 15m
@ 2.76g/t gold, Banfora Gold Project, Burkina Faso - West Africa
Highlights
􀂃 Step out reconnaissance style RAB drilling intersects significant gold mineralization at
the new �gNangolo Prospect�h located to the north of the Nogbele gold deposit.
􀂃 New drill results from Nangolo include 22m @ 2.72g/t Au from 16m and 15m @ 2.76g/t
Au from 12m. The new hits follow on from recently announced 23m @ 4.60g/t Au from
16m (ASX release 2/10/07).
􀂃 Mineralization is shallow and open in all directions (refer to map).
􀂃 Drill hits at Nangolo now extend over a strike of 1,400m with numerous holes ending in
mineralization.
􀂃 Follow up drilling has commenced.
Gryphon Minerals Ltd (ASX:GRY) is pleased to announce further drill results from the
�gNangolo Prospect�h located in a new and previously untested area north of the Nogbele
gold deposit, at the Company�fs flagship Banfora Gold Project in Burkina Faso �] West Africa.
Results are from �gstep out�h RAB drilling targeting gold mineralization up to 750 meters to
the east of the previous drilling at Nangolo that included 23m @ 4.60g/t gold from only 16
meters depth. Mineralization at Nangolo has now been intersected across 1400 meters and
is open in all directions.
Further step out RAB drilling is currently underway targeting gold mineralization further to
the east where rock chips of up to 9.40g/t gold have been collected 1000 meters to the east.
A total of 142 RAB holes were drilled to an average depth of only 24 meters below surface.
Numerous holes ended in gold mineralization.
Significant gold mineralization Nangolo appears to be associated with abundant quartz
veining and hematite altered granodiorite similar to the mineralization encountered at the
nearby Nogbele Prospect as well as hematite and pyrite altered basalts and sediments that
have been highly sheared.
An aggressive exploration programme of 25,000 meters of RAB drilling targeting further high
priority targets including the Nangolo discovery, as well as 15,000m of RC drilling at the
Nogbele and Fourkoura Prospects and approximately 5000 regional soil geochemical
samples will be carried out over the coming months at the Banfora Gold Project. etc