Drilling Update

Drilling Update

Hambledon Mining PLC

Hambledon Mining plc

(“Hambledon” or “the Company”)

Latest drilling results from Sekisovskoye underground mine, Kazakhstan

21 February 2012

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 further drilling in 2012.

The results from the programme up to mid-February 2012 are set out below:

  • The 98 holes drilled to date total over 11,170 metres drilled,
  • The main intersections since the last update include:
  • Hole D68 – 4m at 4.81g/t Au,
  • Hole D69 – 7m at 4.1g/t Au,
  • Hole D73 – 7m at 4.1g/t Au,
  • Hole D77 – 9m at 9.27g/t Au,
  • Hole D78 – 14m at 3.5 g/t Au
  • Hole D79 – 39m at 3.38g/t Au,
  • Hole D82 – 13m at 5.85g/t Au,
  • Hole D86 – 9m at 10.92gt Au,
  • Hole D96 – 13.3m at 3.69g/t Au

98 drill holes have been completed in the upper levels of the underground ore zones and the results are consistent and in many areas exceed the geological and mineral resource modeling previously carried out.

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 ore body to be mined in 2012 is ore body number 11 where mining started in Q4, 2011. The drill results and mined grade (including dilution) compare favourably with and provide robust confirmation of the geological model. It is expected that 6,500t of underground ore will be treated in February in the processing plant and underground mining activity is now achieving approximately 7,000t per month which is in line with budgeted plans for 2012 of 100,000tpa extraction rate.

Appendix - Sekisovskoye 2012 - Drill result summary as of mid-February 2012, holes 67 to 98.

№   HOLE   COORDINATES               DEPTH           GOLD MINERALIZATION_ore intervals
    X   Y Z AZI DIP drilled core total FROM   TO   LENGTH   AA-AKB LAB, AU, g/t
67 EXP-4 7217.051 6742.331 379.167 268 9 29.1 29.1 29.1 -- -- -- --
68 EXP-5 7217.172 6742.262 378.556 268 -11 67.7 67.7 67.7 43.00 47.00 4 4.81
                    52.00 52.50 0.5 1.2
                    56.00 61.00 5 1.47
69 EXP-6 7217.509 6742.839 378.306 269 -32 65.1 65.1 65.1 39 42 3 1.11
                    52 59 7 4.1
70 EXP-8 7217.303 6741.777 379.357 250 10 31.5 31.5 31.5 -- -- -- --
71 EXP-9 7217.228 6741.678 378.605 250 -15 62 62 62 46 49 3 1.67
72 EXP-10 7217.508 6741.829 378.208 250 -40 60 60 60 28 29 1 1.37
                    36 40.3 4.3 1.28
                    46.6 49 2.4 1.3
                    56 57 1 1.58
73 EXP-10.1 7218.671 6741.833 379.35 236 -24 31.5 31.5 31.5 39 42 3 1.11
                    52 59 7 4.1
74 EXP-11 7218.731 6741.093 380.081 223 29 16 16 16 -- -- -- --
75 EXP-11.1 7217.79 6743.672 378.5 287 -35 77.5 77.5 77.5 29 30 1 2.8
                    66.7 68 1.3 1
76 EXP-12 7218.636 6740.978 379.012 223 5 39 39 39 30.5 31.5 1 4.32
                    35.5 36.35 0.85 4.68
77 EXP-13.1 7218.379 6740.875 378.386 223 -24 49.5 49.5 49.5 23 24 1 1.26
                    32 41 9 9.27
                    43 44 1 1.22
78 EXP-14 7218.71 6740.998 378.042 223 -46 58.2 58.2 58.2 36 50 14 3.5
                    57 58.2 1.2 2
79 EXP-15 7219.137 6740.898 379.246 188 11 56.7 56.7 56.7 15 16 1 3.76
                    19 20 1 1.02
                    36 38 2 2.39
                    4 43 39 3.38
80 EXP-15.1 7219.118 6741.147 381.77 188 33 26 26 26 17 18 1 1.32
81 EXP-16 7219.066 6740.538 378.444 188 -18 50.5 50.5 50.5 32 39 7 2.24
                    47 48 1 3.18
82 EXP-17 7219.26 6741.559 377.36 188 -47 66.5 66.5 66.5 32 45 13 5.85
83 EXP-18 7220.24 6741.532 381.04 159 21 17 17 17 -- -- -- --
84 EXP-19 7220.4 6741.192 380.072 159 7 49.4 49.4 49.4 32 33 1 4.58
                    40 41 1 1.81
85 EXP-20 7220.831 6740.27 378.067 159.5 -16 49 49 49 35 42 7 1.83
86 EXP-21 7220.816 6740.761 377.924 159 -44 55.5 55.5 55.5 14 15 1 2.14
                    39 48 9 10.92
                    53 54 1 1.24
87 EXP-22 7221.752 6749.861 379.94 133 9 57.5 57.5 57.5 -- -- -- --
88 EXP-23 7221.678 6741.959 377.846 133 -13 13.5 13.5 13.5 -- -- -- --
89 EXP-23.1           12.7     -- -- -- --
90 EXP-23.2 7221.563 6740.475 378.799 134 -13 54 54 54 15 16 1 1.8
91 EXP-24 7221.058 6742.543 377.45 133 -37 58.3 58.3 58.3 45.5 52 6.5 2.45
92 EXP-25 7221.92 6741.8 378.147 113 -22 51.5 51.5 51.5 35.5 36.85 1.35 14.38
                    43 45 2 2.2
93 EXP-1.2 7217.757 6743.52 378.41 289 -13 70.1 70.1 70.1 61.5 62.95 1.45 1.22
94 EXP-1.3 7217.486 6743.275 378.5 287 -35 66 66 66 57 58 1 3.6
                    61 63 2 6.23
95 EXP-26 7188.197 6779.016 344 265 -17 30 30 30 3 4.6 1.6 1.68
                    8 9 1 1.6
                    15 18 3 2.24
96 EXP-27 7188.57 6778.965 344 209 -10 51 51 51 10.7 24 13.3 3.69
                    27 37.8 10.8 2.22
                    44 45 1 1.44
97 EXP-28 7188.247 6778.751 345 239 17 35.8 35.8 35.8 23 25 2 2.12
                    33 34 1 2.82
98 EXP-29 7188.732 6778.196 344.491 234.6 -14 26 26 26 15.3 22 6.7 1.96

Qualified Person

Information in this report relating to the drilling 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 24 years’ experience in mineral project development and evaluation including exploration and is a Qualified Person under the AIM Rules.

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