Rio Narcea Gold Mines, Ltd.

Rio Narcea Gold Mines, Ltd.

January 11, 2005 09:30 ET

Rio Narcea Announces Additional Infill Drilling Results At The Salave Gold Project


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: RIO NARCEA GOLD MINES, LTD.

TSX SYMBOL: RNG
AMEX SYMBOL: RNO

JANUARY 11, 2005 - 09:30 ET

Rio Narcea Announces Additional Infill Drilling
Results At The Salave Gold Project

TORONTO, ONTARIO--(CCNMatthews - Jan. 11, 2005) - Rio Narcea Gold Mines,
Ltd. (TSX:RNG)(AMEX:RNO)("Rio Narcea" or the "Company") is pleased to
report additional favourable assay results from its ongoing 15,500 meter
infill drilling program, in support of the feasibility study, at the
Salave gold project in northern Spain. With approximately two thirds
(2/3) of the program now complete, the infill drilling results continue
to confirm earlier exploration results while showing the potential for
some significant additions along the margins of the existing deposit and
at depth. Hole RN-42 intercepted 15.3 meters averaging 10.8 g/t gold at
a down hole depth of 215 meters. The intercept extended the deeper,
higher grade portion of the deposit by approximately 50 meters to the
northwest where the zone remains open.

Complete assay results from 25 additional holes are reported in Table 1
at the end of this release. The best intercepts are highlighted below:



---------------------------------------------------------------------
Thickness Gold
Hole # From To (meters along the hole) (g/t)
---------------------------------------------------------------------
---------------------------------------------------------------------
RN21 15.00 69.90 54.9 3.4
---------------------------------------------------------------------
RN22 168.45 188.75 20.3 7.1
---------------------------------------------------------------------
RN23 109.70 141.40 31.7 9.3

Including 112.25 123.00 10.7 20.5

167.60 212.00 44.4 6.1

Including 167.60 190.6 23.0 9.3
---------------------------------------------------------------------
RN24 1.80 69.35 67.5 4.2
---------------------------------------------------------------------
RN25 70.50 106.00 35.5 4.5
---------------------------------------------------------------------
RN26 187.60 225.50 37.9 5.0

Including 198.00 218.00 20.0 7.8
---------------------------------------------------------------------
RN29 117.90 136.70 18.8 6.1
---------------------------------------------------------------------
RN31 0.00 70.00 70.0 5.3
---------------------------------------------------------------------
RN33 156.40 187.10 30.70 4.0
---------------------------------------------------------------------
RN36 70.60 133.00 62.4 4.0
---------------------------------------------------------------------
RN42 215.05 230.40 15.3 10.8
---------------------------------------------------------------------


A sketch map showing the area covered by the infill drilling program and
a detail map of the lower zone is attached at the end of this news
release. If you are unable to view this information, please download
from Rio Narcea's website at www.rionarcea.com/operations under the
Salave project or contact the Company at the numbers listed below.

Quality control (QC) for sample preparation and analysis of samples for
the Salave infill drilling program has been designed by independent
consultant, Alan Noble of O.R.E. Reserves Engineering, Colorado, U.S.A.,
to meet or exceed the requirements of National Instrument 43-101
(Standards of Disclosure for Mineral projects). This QC program includes
the use of blanks, duplicates and standard reference samples, in
conjunction with systematic check assays in external laboratories. The
Qualified Person as defined by NI 43-101 for the drilling program is
Eugene Spiering, Vice President of Exploration for Rio Narcea.

In addition to the infill drilling program, the Company is preparing all
documents for the requisite permit applications, metallurgical and
hydrological work required for the bankable feasibility study, which is
expected to be completed in the second half of 2005.

Rio Narcea is a growing mineral resource company with operations,
development projects and exploration activities in Spain, Portugal, and
Mauritania. The Company produces gold at its El Valle and Carles mines
and is finishing the commissioning of its Aguablanca nickel-copper-PGM
mine in southern Spain. Rio Narcea is expecting to start the
construction of its Tasiast gold project located in Mauritania, West
Africa, in early 2005 and is also completing a full feasibility study of
its Salave gold deposit in northern Spain.

Forward-looking Statements: Some statements in this press release
contain forward-looking information. These statements address future
events and conditions and, as such, involve inherent risks and
uncertainties. Actual results could be significantly different from
those projected.

Table 1. Diamond drill results of the Salave gold project (first 20
holes released on September 17, 2004).



---------------------------------------------------------------------
Hole # From To Thickness (m) Gold (g/t)
---------------------------------------------------------------------
RN20 161.95 170.35 8.40 5.6
Including 168.35 170.35 2.00 19.4
253.35 255.65 2.30 42.0
---------------------------------------------------------------------
RN21 15.00 69.90 54.90 3.4
74.00 96.85 22.85 2.2
101.60 112.70 11.10 2.3
121.60 135.45 13.85 1.8
193.30 196.50 3.20 4.8
---------------------------------------------------------------------
RN22 80.00 84.10 4.10 3.7
135.45 136.80 1.35 5.9
161.50 162.95 1.45 12.8
168.45 188.75 20.30 7.1
---------------------------------------------------------------------
RN23 28.00 36.00 8.00 2.1
68.00 80.75 12.75 3.6
109.70 141.40 31.70 9.3
Including 112.25 123.00 10.75 20.5
Including 136.95 140.50 3.55 10.4
149.35 156.55 7.20 12.8
167.60 212.00 44.40 6.1
Including 167.70 190.60 23.00 9.3
243.40 254.00 10.60 1.7
---------------------------------------------------------------------
RN24 1.80 69.35 67.55 4.2
74.25 77.30 3.05 5.9
87.95 109.00 21.05 3.2
117.30 127.80 10.50 1.7
140.80 177.40 36.60 2.1
182.95 194.40 11.45 4.0
---------------------------------------------------------------------
RN25 40.40 65.50 25.10 2.7
70.50 106.00 35.50 4.5
---------------------------------------------------------------------
RN26 118.20 144.00 25.80 1.8
Including 126.30 131.00 4.70 3.7
187.60 225.50 37.90 5.0
Including 198.00 218.00 20.00 7.8
---------------------------------------------------------------------
RN27 116.70 124.50 7.80 5.1
130.00 146.70 16.70 4.1
181.90 218.40 36.50 2.4
232.45 253.85 21.40 4.2
Including 244.50 247.50 3.00 18.1
---------------------------------------------------------------------
RN28 51.90 63.55 11.65 8.3
70.60 76.40 5.80 2.3
82.85 88.60 5.75 6.9
110.70 110.80 10.10 1.6
---------------------------------------------------------------------
RN29 25.50 39.70 14.20 2.7
45.70 59.80 14.10 1.5
83.70 99.70 16.00 2.1
117.90 136.70 18.80 6.1
159.60 169.50 9.90 2.7
177.00 186.00 9.00 6.7
206.25 233.75 27.50 2.9
---------------------------------------------------------------------
RN30 192.45 214.50 22.05 2.7
222.00 229.10 7.10 1.3
259.20 262.25 3.05 2.9
---------------------------------------------------------------------
RN31 0.00 70.00 70.00 5.3
114.05 149.85 35.80 2.7
160.65 172.55 11.90 3.4
177.00 191.10 14.10 1.3
---------------------------------------------------------------------
RN32 10.95 17.35 6.40 1.8
54.15 75.80 21.65 2.0
91.85 107.70 15.85 4.2
130.90 134.95 4.05 6.4
---------------------------------------------------------------------
RN33 61.50 101.85 40.35 2.3
156.40 187.10 30.70 4.0
191.50 221.00 29.50 2.5
210.00 211.50 1.50 19.0
---------------------------------------------------------------------
RN34 16.50 19.55 3.05 16.3
57.00 60.35 3.35 5.6
70.05 78.40 8.35 2.8
102.90 112.80 9.90 2.2
118.65 132.05 13.40 1.9
168.05 201.00 32.95 1.8
---------------------------------------------------------------------
RN35 111.30 116.40 5.10 1.2
175.10 179.55 4.45 2.0
186.95 197.20 10.25 5.7
---------------------------------------------------------------------
RN36 13.70 32.00 18.30 3.8
70.60 133.00 62.40 4.0
147.50 157.80 10.30 2.6
162.60 184.75 22.15 3.2
195.00 212.40 17.40 1.5
---------------------------------------------------------------------
RN37 163.65 180.85 17.20 2.2
185.85 192.00 6.15 1.50
232.95 234.30 1.35 17.3
---------------------------------------------------------------------
RN38 47.60 54.50 6.90 2.0
64.25 67.50 3.25 3.9
82.00 83.60 1.60 11.8
88.00 96.50 8.50 2.2
---------------------------------------------------------------------
RN39 21.45 29.50 8.05 3.2
57.25 60.30 3.05 3.8
65.55 67.00 1.45 3.3
98.00 113.25 15.25 3.0
---------------------------------------------------------------------
RN40 78.25 82.20 3.95 3.9
128.00 138.75 10.75 3.9
Including 133.35 137.00 3.65 8.4
---------------------------------------------------------------------
RN42 90.30 95.25 4.95 3.2
129.70 139.60 9.90 2.1
171.75 178.25 6.50 2.7
189.65 203.45 13.80 6.8
215.05 230.40 15.35 10.8
234.45 249.30 14.85 2.6
---------------------------------------------------------------------
GT2 117.15 118.15 1.00 2.5
325.80 326.70 0.90 15.0
---------------------------------------------------------------------
GT3 68.45 73.90 5.45 6.2
71.55 72.70 1.15 18.2
82.50 97.25 14.75 3.0
101.75 112.20 10.45 2.4
171.05 180.95 9.90 1.8
---------------------------------------------------------------------
GT4 32.20 33.50 1.30 1.0
69.15 77.30 8.15 1.4
---------------------------------------------------------------------


NOTE: There is a Map available on CCNMatthews' website at:

http://www2.ccnmatthews.com/database/fax/2000/rng0111.pdf


-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Rio Narcea Gold Mines, Ltd.
    John W.W. Hick
    Vice-Chairman and CEO
    (416) 956 7470
    (416) 956 7471 (FAX)
    or
    Rio Narcea Gold Mines, Ltd.
    Laurie Gaborit
    Manager Investor Relations
    (416) 956 7470
    (416) 956 7471 (FAX)
    info@rngm.com
    www.rionarcea.com