Gold Production Commences

19 Dec 2007 07:00

Hambledon Mining PLC19 December 2007 PRESS INFORMATION 19 December 2007 HAMBLEDON MINING PLC (AIM:HMB) Gold production commences at Sekisovskoye Hambledon Mining plc ("Hambledon" or the "Group" or the "Company"), theAIM-listed gold mining and processing company operating in Kazakhstan, ispleased to announce that production has started at its Sekisovskoye gold project. The first gold pour will take place on 26th December in the presence of the Akimof the East Kazakhstan oblast and the Akims of the Glubokoye and Sekisovskoyeregions. The event will be televised by "Habar", "VKTV" and "31" channels.Representatives of the Government of Kazakhstan will also attend. After a bedding-in period, gold production is expected to be at an annualisedrate of 40,000 oz per year increasing to 100,000 oz per year when higher gradeunderground ore is processed. Over 145,000 tonnes of ore grading 1.46 g/t Auhave already been stockpiled in readiness for the start-up. Nick Bridgen, Chief Executive, commented: "Hambledon is now a production company with both the Ognevka treatment plant andthe Sekisovskoye gold mine in operation. "At both sites we have the potential to increase production significantly overthe next couple of years. We are 100% equity financed and look forward to strongand rising cash flows." Enquiries Hambledon Mining plcNicholas Bridgen, Chief Executive Telephone: +44 7791 327180 +7 701 733 8915 Bankside ConsultantsMichael Padley / Louise Davis Telephone: +4420 7367 8888 Seymour PierceNicola Marrin Telephone: +4420 7107 8018 Note to editors Hambledon Mining plc is an AIM-listed gold mining and exploration company whichis operating the Sekisovskoye gold mine and the Ognevka processing plant, bothof which are close to Ust Kamenogorsk in East Kazakhstan. At Sekisovskoye, the Company is mining from an open pit and has constructed an850,000 tonnes per year treatment plant. Production from the open pit willaverage over 40,000 ounces per annum. After the start of open pit processing,the Company plans to develop the much larger underground resource that isexpected to lead to a combined production rate of around 100,000 ounces peryear. The Ognevka processing plant is producing concentrates containing gold, silver,copper, iron and coke from the re-treatment of zinc smelter residues. ENDS This information is provided by RNS The company news service from the London Stock Exchange