Glencar Mining plc ("Glencar" or the "Company")

                      Gold Fields Negotiations

                             7 July 2009

Glencar announces  that  negotiations  with Gold  Fields  Limited  in
relation to the proposed joint venture on Glencar's Komana Project in
Mali have been terminated without agreement.  The outline terms  were
set out in the Non Binding Letter of Intent ("LOI") published on 25th
March 2009.  Since  signing the LOI,  the Board of  Glencar has  been
endeavouring to achieve a set of terms  that it would have been in  a
position to recommend to  its shareholders. Unfortunately,  agreement
could not  be reached  on certain  material items  in the  terms  and
consequently discussions have terminated.
Glencar will now continue its  appraisal of other options,  including
independent financing and possible mergers with other companies  with
complementary assets.  A statement on progress in these matters  will
be made in due course.
For further information, please contact:


Glencar Mining plc
Hugh McCullough, Managing Director
Tel:  +353 1 661 9974
e-mail: info@glencarmining.ie



Davy Corporate Finance
Ivan Murphy, Director
Brian Corr, Associate Director
Tel:      +353 1 679 6363



Bishopsgate Communications
Nick Rome/Michael Kinirons
Tel:    +44 20 7562 3350
e-mail: nick@bishopsgatecommunications.com

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