Hochschild Regulatory News (HOC)

12 Dec 2006 12:18

Hochschild Mining PLC12 December 2006 Hochschild Mining plc Acquires Moris Mine in Chihuahua, Mexico Hochschild Mining plc ("Hochschild Mining") announces that the joint venturebetween Minera Hochschild Mexico, S.A. de C.V. ("MHM"), a wholly-ownedsubsidiary of Hochschild Mining, and EXMIN Resources Inc. (EXM:TSX-V) hasexercised its option to purchase the Santa Maria de Moris mine ("Moris") inChihuahua, Mexico, pursuant to the terms of the contract signed with MineraMoris, S.A. de C.V., on 30 June 2006. Moris is expected to produce silver andgold. For more information on the terms of the contract please see section12.3.4 of the 3 November 2006 Prospectus. The total purchase price of Moris is $6,000,000 plus VAT, of which $1,500,000plus VAT has already been paid. Hochschild Mining will now pay the balance of$3,150,000 plus VAT, which corresponds to its 70% ownership interest in theproject. In addition, by way of a $1,350,000 private placement, MHM has acquired2,926,188 common shares of EXMIN at a price of C$0.53 per share. The proceeds ofthis transaction will allow EXMIN to fund its 30% share of the purchase price ofMoris. For further information, please contact Hochschild Mining plc Tel: +44 207 152 6013 Finsbury Tel: +44 207 251 3801Roland RuddRobin WalkerZoe Watt This information is provided by RNS The company news service from the London Stock Exchange