Significant Shareholding January, 2009

13 Jan 2009 15:00



Highland Gold Mining Limited - Indirect Holding(s) in Company

13 January 2009

Highland Gold Mining Limited ("the Company")

Notification of significant indirect holding.

The Company was notified today that Tremadon Ventures Limited had acquired an indirect beneficial interest of approximately 9.99% in the total issued share capital of the Company. Tremadon Ventures Limited is a company registered in the British Virgin Islands of which Mr Alexander Abramov and Mr Alexander Frolov are the ultimate beneficial owners. Tremadon Ventures Limited acquired its indirect beneficial interest in the Company as a result of its acquisition of an interest in Primerod International Limited ("Primerod"). Primerod is the holding vehicle through which Mr Roman Abramovich and certain other managers of OOO Millhouse hold their 32% interest in the Company.

The Company was also informed by Mr Valery Oif, its Chief Executive Officer, that as a result of his interest in Primerod at the time of his appointment that he has an indirect beneficial interest of approximately 2% in the total issued share capital of the Company.

The issued share capital and total number of voting rights of the Company at 13 January 2009 is 325,197,098 ordinary shares of £0.001 per share. The figure of 325,197,098 shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the FSA's Disclosure and Transparency Rules.

For further information please contact:

Highland Gold - 

Dmitry Yakushkin, Head of Communications - +7 495 777 3155

Duncan Baxter, Chairman +44 (0)1534 814202

JPMorgan Cazenove (Nominated Adviser) - 

Michael Wentworth-Stanley, Managing Director 

Sam Critchlow - +44 (0) 207 588 2828

www.highlandgold.com