Drilling Update

Drilling Update

Hambledon Mining PLC

Hambledon Mining plc

(“Hambledon” or “Company”)

Latest drilling results from Sekisovskoye underground project, Kazakhstan

Hambledon Mining Plc (AIM: HMB), the Kazakhstan gold mining and development company, continues to advance its underground drill programme to validate and expand the geological resources at Sekisovskoye and today reports the results of a further ten drill holes.

Key results during August and September 2011 are as follows:

  • Ten holes drilled
  • Significant intersections include:
  • Hole D49 – 5.3m at 3.79 g/t Au,
  • Hole D49 – 9.7m at 4.49g/t Au,
  • Hole D50 – 3m at 5.5 g/t Au,
  • Hole D53 – 2m at 16.61 g/t Au,
  • Hole D54 – 41m at 7.14 g/t Au,
  • Hole D55 – 3m at 7.76 g/t Au,

To date, 57 drill holes have been completed over a total of 8,600 metres in the upper levels of the underground ore zones and the results are consistent and in many areas exceed the previous geological and mineral resource modeling.

The assays were carried out in the Altai Ken-Bayitu laboratory with independent verification to be undertaken by the Alex Stewart Group in Karabalta, Kyrgyzstan.

The Sekisovskoye deposit comprises approximately ten large mineralised zones intermingled with numerous narrow and sinuous mineralisation zones. The zones of mineralisation show wide variation in thickness from 0.35 metres to 30 metres, with a weighted average of 5.5 metres. The zones display a localised pinch and swell structure, with variable gold and silver content. The large average width makes for easier and lower cost mining.

The ore body to be mined in 2012 is ore body number 11 with a width of 10-30m, and an average grade of 5.5g/t Au. Recent drilling in Q3 has been centred around this mineralisation in preparation for mining in late Q4 2011.

The results of the drilling programme will provide the basis for the upgraded modeling of Sekisovskoye and for the excavation schedules and detailed mine engineering that is being undertaken by Golders Associates UK, and Canada. Upon completion of these studies late in 2011, Hambledon will be able to update its mineable reserve statement.

Good progress has been in made in advancing the underground excavation works with extraction on target to commence in late Q4 2011. The trial mining areas will be treated in a batch manner through the mineral process plant to confirm gold and silver grades. Geological and rock mass characterisation will also take place to ensure that the mining operation advances in tandem with the sound engineering knowledge guiding the development of the project. This will enable production schedules to benefit from the lowest possible operational costs.

Appendix 1 - Sekisovskoye 2011 - Drill result summary as of 12 October, hole 48 to hole 57.

№   HOLE   COORDINATES               DEPTH           GOLD MINERALIZATION_ore intervals
    X   Y Z AZI DIP drilled core total FROM   TO   LENGTH   AA-AKB LAB, AU, g/t
48 D87.1 7436.231 6807.634 326.0643 46 -14 52.5 52.5 52.5 9 10 1 1.1
                    27 28 1 1.58
                    31 32 1 1
49 D87 7433.685 6804.913 325.1229 226 -61 199.3 199.3 199.3 6 7 1 4.24
                    12 13 1 1.6
                    24 25 1 2.52
                    33 34 1 2.74
                    38 39 1 1.07
                    58 59 1 1.66
                    91 92 1 2.1
                    104 109.3 5.3 3.79
                    120 121.6 1.6 1
                    132.3 142 9.7 4.49
                    151 156 5 0.91
                    170 171 1 1.4
                    175 176 1 2.96
                    179 180 1 1.52
                    186 187 1 1.16
50 D88 7433.145 6804.768 325.3859 226 -48 141.8 141.8 141.8 70 71 1 1.96
                    79 82 3 5.5
                    102 103 1 3.46
                    112 113 1 1.06
                    127 128.2 1.2 6.04
51 D98 7346.9 6668.644 326.108 226 -62 180 180 180 7 8 1 1.4
                    13 14 1 1.04
                    64 73 9 1.78
                    89 90 1 1.02
                    94 95 1 2.66
                    113 123 10 3.31
                    162 163 1 1.79
52 D100 7346.786 6668.584 326.312 225 -49.4 156 156 156 22 23 1 1.58
                    32 33 1 7.76
                    55 59 4 1.23
                    64 68 4 1.13
                    75 77 2 1.69
                    107 111 4 2.04
53 D97 7394.217 6710.744 326.022 229.2 -40 96 96 96 4 8 4 3.5
                    13 14 1 5.91
                    20 23 3 2.74
                    28 30 2 16.61
                    45 48 3 2.4
                    65 66 1 1.14
                    81 82.3 1.3 1.1
                    87.8 89 1.2 1.48
                    93 94 1 1.68
54 D70 7298.231 6787.521 326.014 233.2 -82.1 175.6 175.6 175.6 24 25 1 4.42
                    34 35 1 2.06
                    112 114 2 1.76
                    130 171 41 7.14
55 D72 7298.059 6787.372 326.203 228 -61.6 131.8 131.8 131.8 19 20 1 1.66
                    46 49 3 7.76
                    68 69 1 3.5
                    84 85 1 2.28
                    102 114 12 1.64
56 D79 7317.806 6746.829 326.2649 232 -83 152.5 152.5 152.5 6 8 2 3.06
                    32 33 1 2.62
                    41 42 1 1.5
57 D80 7317.4 6746.467 326.36 227 -58 175.5 175.5 175.5 22 23 1 2.24
                    33 34 1 2.34
                    93 94 1 1.13

Qualified Person

Information in this report relating to the exploration results is based on data reviewed by Timothy Daffern, BEng, MBA, FIMMM, FAusIMM, MCIM, CEng, Chartered Mining Engineer, Chief Executive Officer of Hambledon Mining plc. Timothy Daffern has in excess of 22 years’ experience in mineral project development and evaluation including exploration and is a Qualified Person under the AIM Rules.

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Charles Zorab

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