GEX Georgina Energy Plc

    GLENCAR MINING PLC
                    ("Glencar" or the "Company")

                           Drilling Update

                           1 February 2007

Highlights

*          Ore grades intersected in Kabaya South drilling - up to 43
  m at 1.7 g/t
*          Exciting target at Bokoro now ready for follow up drilling
*          Initial drilling scheduled for Sanioumale concession in
  March
*          Komana West drilling to recommence next week.

Drilling Results

Glencar is pleased to announce the results of the recently completed
drilling programme on the Sankarani Project in southern Mali.  The
drilling programme comprised 3,274 meters of reverse circulation
drilling on four targets in the Farasaba concession, one of the three
concessions which are being operated under the terms of a Framework
Agreement with Gold Fields Orogen Holding (BVI) Ltd (formerly Orogen
Holdings BVI Ltd), a subsidiary of Gold Fields Limited.  Under the
terms of the Framework Agreement, the Gold Fields subsidiary may
spend up to US$12 million on exploration over three concession areas
in southern Mali, in order to earn a 65% interest in the concessions.

The four targets drilled and the corresponding metreages are:

Kabaya South          17 holes for 1,676 metres

Farasaba West            4 holes for    320 metres

Farasaba Main          10 holes for    788 metres

Farasaba South           8 holes for   490 metres.

Kabaya South

The Kabaya South drilling intersected a significant mineralised  zone
in sheared and altered metasedimentary rocks with associated porphyry
intrusives.  The mineralised zone  was intersected by five  boreholes
in three  separate  drill fencelines  over  a total  strikelength  of
approximately 600 metres.  The zone is open along strike to both  the
northwest and the southeast.  The most northerly hole drilled on  the
target structure, returned 43 metres at 1.7 grams/tonne including  28
metres at 2.0 grams/tonne.  This is a very promising intersection  in
the first phase of  drilling at this target  and there is support  on
each of two fencelines drilled obliquely across the structure to  the
south.   Follow  up  drilling, including  diamond  core  drilling  is
planned for this target during the current field season.  The  Kabaya
South drilling target  had been initially  delineated by mapping  and
sampling work carried out between February and June 2006.

Farasaba West

At  Farasaba  West,  four  holes  were  drilled  across  a  structure
interpreted from the recently  completed Induced Polarisation  ("IP")
geophysical surveying.  A best intersection of 8 metres at 1.1  grams
per tonne was intersected in the first and most easterly hole on this
target while, some 75 metres further west, the next hole  intersected
3 metres at  3.2 grams per  tonne.   The IP geophysics  shows a  high
chargeability anomaly to  the east  of the easternmost  hole on  this
fenceline and  it is  proposed to  follow up  this intersection  with
further drilling to the east.

Farasaba Main

At Farasaba Main,  five holes  were drilled  on each  of two  targets
generated by the geophysical  surveying coincident with the  presence
of artisanal mining  activity.   The drilling did  not encounter  any
well developed mineralised zone, with  the best intersection being  1
metre at 12.1  grams per tonne  in FMRC006 between  11 and 12  metres
downhole depth.    It  is  planned to  drill  two  other  geophysical
anomalies in the Farasaba Main area during the present field season.

Farasaba South

At the Farasaba South  target, eight holes were  drilled on a  strong
geochemical anomaly associated with a coincident strong chargeability
anomaly.  The drilling did not encounter significant mineralization.

Details of  the  drilling  results  will be  posted  shortly  on  the
Company's website at www.glencarmining.ie

Drilling Programme - Sankarani Project

A busy drilling schedule is planned  for the coming weeks and  months
at the Sankarani Project.

Bokoro Concession

Drilling will commence as soon as a rig is available on a very
promising target on the Bokoro concession. The Bokoro target is
associated with a strong geophysical anomaly and is close to some of
the most extensive artisanal workings seen in the whole Sankarani
region.  First phase drilling at the nearby Sanankoro target in
May/June 2006 yielded a significant intersection in BRC007 of 21
metres @ 1.12 grams per tonne.  The recently completed IP survey
shows that that intersection was drilled just east of a now very
clearly defined shear structure.  The upcoming programme will target
a zone of high chargeability along the shear just to the north of the
previous Sanankoro drilling

Sanioumale Concession

The Bokoro drilling will  be followed by  drilling on the  Sanioumale
concession, on a target situated along the main Sankarani Shear  Zone
which is coincident with extensive artisanal workings.

Kabaya South

Drilling will then be redirected at the extension of the Kabaya South
mineralised zone.

Other Targets

Further exploration  will  be  completed at  the  Farasaba  West  and
Farasaba Main target areas.   Results will dictate the priority  with
which exploration of each target is subsequently developed.

Gold Fields  are  in the  process  of  approving the  next  stage  of
exploration funding for the Sankarani Project, which, when  completed
in  full,  would  give  a  newly  incorporated  Gold  Fields  Limited
subsidiary a 25% interest in the Sankarani Project.

Drilling Programme - Komana West

The fourth  phase  of  drilling at  Glencar's  Komana  West  project,
comprising both  reverse circulation  and diamond  core drilling,  is
scheduled to start next week.


Hugh McCullough, Chief Executive of Glencar says:

 "These results from the first pass drilling on the Sankarani Project
are very promising and   further drilling programmes at existing  and
new targets are planned, as  is additional drilling on the  Company's
95% owned Komana West prospect."


Hugh McCullough, EurGeol.,  PGeo, Managing Director of Glencar, is a
member of the Institute of Geologists of Ireland.  He is a qualified
person as defined in the Guidance Note for Mining, Oil and Gas
Companies, March 2006, of the London Stock Exchange.  He has reviewed
and approved the technical information contained in this
announcement.

For further information, please contact:


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



Heneghan PR
Sean O'Riordain
Tel:    +353 87 2556727
e-mail: sean@hpr.ie

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Copyright � Hugin ASA 2007. All rights reserved.

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