Equity Fundraising

Hambledon Mining PLC
08 February 2006


                              Hambledon Mining Plc
                                        
                      Equity Fundraising of £10.4 million
                                        
Hambledon Mining Plc ('Hambledon' or the 'Company), the AIM-listed mining and 
exploration company developing gold and silver deposits in Kazakhstan, is 
pleased to announce that it has raised a total of £10.4 million (before 
expenses) by way of a conditional placing to new and existing investors of 
104,000,000 new ordinary shares of 0.1p each ('Ordinary Shares') at an issue 
price of 10p per Ordinary Share ('the Placing').

The capital raised will provide the Company with additional funds to develop the 
mine and process plant at Sekisovskoye, where substantial reserves have been 
discovered.  The additional funding will enable the Company to extend its 
original proposals, reflecting the rises of over 40% in the projected ore and 
gold content of the planned open pit since the earlier plans were formulated.

The planned open pit mine output and the capacity of the processing facility 
will be increased from 600,000 tonnes per annum to 850,000 tonnes per annum, 
giving over 40% increase in gold production.  The Company plans to buy its own 
mining fleet, reflecting the longer open pit mine life now envisaged and the 
reduced operating costs available.  The schedule for the commencement of 
production in the fourth quarter of 2006 remains unchanged.

A circular has today been dispatched to shareholders providing further 
information on the Placing, which is being carried out on a non pre-emptive 
basis, and to convene the EGM for the purpose of granting the directors of the 
Company the necessary authority to effect the Placing.  The Notice of EGM to be 
held on 2 March 2006 will be set out in the circular.

Application has been made for the admission of the new Ordinary Shares to 
trading on AIM and dealings are expected to commence on 3 March 2006, subject to
shareholders' approval at the EGM.

Nick Bridgen, Chief Executive of Hambledon Mining Plc, commented:

'Since the original project was designed further discoveries have been made at
Sekisovskoye. We are still finding more gold and we expect to increase our
resources further with the underground drilling programme that will be carried
out over winter.

'As a result, the scale of the project has become larger and the Board has
therefore taken the decision to expand the projected production rate. This will
provide greater cash flow to accelerate the development of the whole complex of
deposits, including the underground mine at Sekisovskoye and the more recently
acquired extensions at Tserkova and Krugliachka which offer excellent expansion
opportunities to add to our ever growing resources at Sekisovskoye.'


ENQUIRIES:

Hambledon Mining Plc                         Tel: [phone]
Nicholas Bridgen, Chief Executive

Bankside Consultants                         Tel: [phone]
Michael Spriggs / Michael Padley



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