Exercise of Options
             



                         Glencar Mining plc

                         Director's Dealing

                          5 September 2008


Glencar Mining  plc ("Glencar"  or the  "Company"), the  AIM and  IEX
listed company  with  gold  exploration interests  in  Africa,  today
announces the exercise by  a Director of  500,000 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 |                          |
|----------+-----------+-----------------+--------------------------|
| William  | 500,000   | 1,887,500       | 0.69%                    |
| Cummins  |           |                 |                          |
+-------------------------------------------------------------------+


Application will shortly be made to  the Irish Stock Exchange and  to
the London Stock Exchange for 500,000 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  15 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 274,136,967 ordinary shares.

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