GEX Georgina Energy Plc

    Exercise of Options
             



                         Glencar Mining plc

                          Directors Dealing


Glencar Mining  plc ("Glencar"  or the  "Company"), the  AIM and  IEX
listed company  with  gold  exploration interests  in  Africa,  today
announces the exercise by Directors  of 4,000,000 million options  on
Glencar shares at an exercise price of �0.031 each, as set out in the
table below;


+-------------------------------------------------------------------+
| Director    | Options   | Resultant  | % of Company's Ordinary    |
|             | Exercised | Holding of | Share Capital              |
|             |           | Ordinary   |                            |
|             |           | Shares     |                            |
|-------------+-----------+------------+----------------------------|
| Hugh        | 2,000,000 | 2,975,106  | 1.09%                      |
| McCullough  |           |            |                            |
|-------------+-----------+------------+----------------------------|
| Kieran      | 1,000,000 | 1,001,300  | 0.37%                      |
| Harrington  |           |            |                            |
|-------------+-----------+------------+----------------------------|
| Sean Finlay | 500,000   | 528,927    | 0.19%                      |
|-------------+-----------+------------+----------------------------|
| Philip      | 500,000   | 518,750    | 0.19%                      |
| O'Quigley   |           |            |                            |
+-------------------------------------------------------------------+


Application will shortly be made to  the Irish Stock Exchange and  to
the London  Stock  Exchange  for 4,000,000  new  ordinary  shares  of
nominal value  �0.031  each in  the  capital  of the  Company  to  be
admitted to trading on the IEX Market of the Irish Stock Exchange and
the AIM Market of the London  Stock Exchange. Dealing is expected  to
commence in these new  ordinary shares on  2 September, 2008.   These
new ordinary shares rank pari passu in all respects with the existing
ordinary shares  of  the Company.  Following  the issue  of  the  new
ordinary shares, the total issued  share capital of the Company  will
be 273,636,967 ordinary shares.

- ---END OF MESSAGE---

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