Interim Results

Hambledon Mining PLC
30 September 2005

FOR IMMEDIATE RELEASE                                          30 September 2005
                              HAMBLEDON MINING PLC

                                Interim Results

Hambledon Mining plc ('Hambledon' or the 'Group' or the 'Company'), an
AIM-listed mining and exploration company developing precious metal deposits in
Kazakhstan, announces its interim results for the six months ended 30 June 2005.

Highlights:

•      Open-pit project approved by the board in March

•      £5 million raised for the project; production expected later in 2006

•      Resource uplift 45% (JORC) - June

•      Exploration of Tserkovka licence area commenced

•      Senior staff recruited

Nicholas Bridgen, Chief Executive of Hambledon Mining plc, commented:

'The first half of 2005 brought significant improvements to the Sekisovskoye
project. In January we announced our very successful 2004 drilling results which
demonstrated greater open-pit resources. As a result we have progressed the
open-pit as a stand alone project. The open-pit mine provides an efficient,
viable and rapid route to production.

'Recent drilling results from Sekisovskoye have been very encouraging. Further
good dilation zones have been intercepted. Exploration of the newly acquired
Tserkovka licence area has started and a further 20 drill-holes are planned for
the remainder of this season.

'Whilst our current focus is on the open-pit, the Company continues with
preparations for the underground mine.

'We remain on track to enter production later next year and we fully expect to
expand our resource base as new territories are added and further exploration
results are received.'
                           
ENQUIRIES:

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

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

About Hambledon Mining plc

Hambledon Mining plc is an AIM listed mining and exploration company which has
announced the development of an open-pit project at its Sekisovskoye deposit in
East Kazakhstan, prior to the development of the much larger underground
resources. Initial production from the open-pit is expected to be around 30,000
- 35,000 ounces per annum, rising to around 100,000 ounces when the higher grade
underground ore is processed. The Company also holds the rights to and is
exploring the adjacent Tserkovka deposit. Any ore from these areas will be
treated in an expanded plant at Sekisovskoye.

                                      - o -
                                        
                              CHAIRMAN'S STATEMENT

I am pleased to announce our financial results for the six months to 30 June
2005.

The first half of 2005 brought significant improvements to the Sekisovskoye
project. In January we announced our very successful 2004 drilling results which
demonstrated greater open-pit resources than previously anticipated and led, in
March, to our board's approval of the open-pit project on a stand-alone basis.
In March we raised £5 million towards the project costs and in June we announced
a 45% uplift in our resource estimate, presented on the internationally
recognised JORC basis.

Since then, we have made good progress in the development of the open-pit
project. Optimisation is now complete and pit design and scheduling are
underway. Both the specification of the process plant and equipment, and the
siting of the major surface infrastructure, have been finalised. In common with
the mining industry in general, our projected capital costs have been
escalating, but the impact is being partially mitigated by successful sourcing
of good second-hand equipment.

One of the greatest challenges in the development process has been to recruit
the key senior staff with the skills and experience necessary to bring the
project into production. I am pleased to report that good progress has been
made. In August, Neil Stevenson joined the group as Operations Manager bringing
considerable international experience of both open-pit and underground
operations. Neil was responsible for bringing on line the open-pit operations at
First Dynasty Mines, Armenia and the expansion of open-pit and underground
operations at Golden Star Resources, Ghana. In addition, Ian Petts joined as
Group Financial Controller in June. It is, of course, the Kazakh staff and
work-force that will ultimately make the project a success and it is satisfying
that many of the key positions have now been filled with very high calibre
employees. Of the group's 46 employees, only four are expatriates and all of
these live and work in Kazakhstan.

Exploration of the newly acquired Tserkovka licence area has started and a
further 20 drill-holes are planned for the remainder of this season. Recent
drilling results from Sekisovskoye have been very encouraging and this programme
continues the 2004 successes. Further good dilation zones have been intercepted
which, when fully analysed, are likely to result in an even larger open-pit than
suggested by the current optimisation process. The high rate of discovery at
Sekisovskoye, even from drill-holes intended for technical, rather than
exploration purposes, bodes well for the future. When we start mining, we can
expect to encounter more mineralisation than had been discovered at the outset.

The experience gained in the modelling of the open-pit is being applied to the
underground levels and it indicates that cheaper bulk-mining methods may be more
appropriate than those assumed at the pre-feasibility stage. SRK will commence
the underground mining study in the fourth quarter of this year once the
underground model has been finalised. Owing to the shortage of suitable
underground contract drillers, the Company has purchased an underground
drill-rig so that drilling can be carried out from the existing underground
development before the start of open-pit mining precludes its further use.

The Company continues to evaluate further exploration territory adjacent to our
existing site and several applications are pending.

Subject to timely regulatory approvals, we remain on track to enter production
later next year. We fully expect to expand our resource base as new territories
are added and further exploration results are received.

George Eccles
Chairman
29 September 2005

Resource statement

                    JORC        JORC     Soviet      Soviet           Total 
                Indicated    Inferred     C2          P1             Resource
                                                                     (ounces)
Sekisovskoye
open-pit &
underground      1,110,304    248,528         -    1,400,000         2,758,832
Tserkovka                -          -   145,000      241,000           386,000
Feodulikha,
Areas 4 & 5              -          -         -      354,000           354,000
Total (ounces)   1,110,304    248,528   145,000    1,995,000         3,498,832

Troy oz = 31.10348g                         Silver included at gold equivalent
All figures rounded                                                     (1/60)


This resource table was issued on 29 June 2005 and has not been updated in
respect of the 2005 drilling results or the continuing remodelling of the lower
levels.

An updated resource estimate will be issued in October 2005.

Consolidated profit and loss account

For the six month period ended 30 June 2005

                           6 month period    6 month period   12 month period
                               to 30 June        to 30 June    to 31 December
                                     2005              2004              2004
                               (unaudited)       (unaudited)         (audited)
                                    £'000             £'000             £'000
 
Administrative expenses
- Exceptional expenditures             -                  -               (96)
- Other administrative
  expenses                          (358)              (189)             (331)
                                    ----               ----              ----
Operating loss                      (358)              (189)             (427)

Net interest and similar
charges                               55                 (4)              (11)

Loss on ordinary activities
before and after taxation
and transferred to
reserves                            (303)              (193)             (438)
                                    ----               ----              ----
Retained loss for the
financial                           (303)              (193)             (438)
                                    ====               ====              ====

Loss per ordinary share
(UK pence)                         (0.13)             (0.10)            (0.22)



Consolidated balance sheet

As at 30 June 2005

                                   30 June            30 June       31 December
                                      2005               2004              2004
                               (unaudited)         (unaudited)        (audited)
                                     £'000              £'000             £'000

Fixed assets
- Intangible assets                      -                307               672
- Tangible assets                      988                  2                19
                                      ----               ----              ----
                                       988                309               691
                                    ------               -----             ----

Current assets
- Debtors                              107                 99                13
- Cash at bank and in hand           5,418              2,078             1,263
                                    ------              -----             -----
                                     5,525              2,177             1,276
                                    ------              -----             -----

Creditors: amounts falling
due within one year                   (450)             (686)             (418)
                                    ------              -----             -----
Net current assets                   5,075              1,491               858
                                    ------              -----             -----
Net assets                           6,063              1,800             1,549
                                    ======              =====             =====

Capital and reserves
- Called up equity share
  capital                              262                200              200
- Share premium account              6,813              2,069            2,069
- Merger reserve                      (148)              (148)            (148)
- Profit and loss account             (864)              (321)            (572)
                                     -----              -----            -----
Equity shareholders' funds           6,063              1,800            1,549
                                     =====              =====            =====





Consolidated cash flow statement

For the six month period ended 30 June 2005

                              6 month period    6 month period  12 month period
                                  to 30 June        to 30 June   to 31 December
                                        2005              2004             2004
                                  (unaudited)      (unaudited)         (audited)
                                       £'000             £'000            £'000

Net cash (outflow)/
inflow from continuing
operating activities                    (400)              (22)           (428)

Returns on investments and
servicing of finance
- Interest received                       61                 3              27
- Interest
paid                                     (12)              (13)            (16)
                                         ---              ----             ---
                                          49              (10)              11
                                         ===              ====             ===
Capital expenditure and
financial investment
- Purchase of fixed assets              (300)             (69)            (453)
                                        -----             ----            ----
Net cash (outflow)
before financing                        (651)             (57)            (870)
                                        ====              ====            ====

Financing
- Issue of ordinary share capital       4,806           2,121            2,119
  (net of share issue expenses)         -----           -----            -----

Increase in net cash in
the period                              4,155           2,064            1,249
                                        =====           =====            =====



Other primary statements

For the six month period ended 30 June 2005

Statement of total recognised gains and losses

                                           30 June      30 June    31 December
                                              2005         2004           2004
                                        (unaudited)  (unaudited)     (audited)
                                             £'000        £'000          £'000

Statement of total recognised gains
and losses
Loss for the financial period                (303)         (193)         (438)
Currency translation
differences on foreign
currency net investments                       11              2           (2)
                                           -------       -------       -------
Total recognised gains and
losses relating to the
financial period                             (292)          (191)        (440)
                                           ======         ======        ======

Reconciliation of movements in shareholders' funds

                                            30 June       30 June   31 December
                                               2005          2004          2004
                                        (unaudited)    (unaudited)    (audited)
                                              £'000         £'000         £'000

Reconciliation of movements in Group
shareholders' funds

Total recognised gains and losses             (292)          (191)        (440)
New capital subscribed
(net of costs)                                4,806          2,121       2,119
                                             ------         ------      ------
Net change in shareholders'
funds                                         4,514          1,930       1,679
Opening shareholders' funds                   1,549           (130)       (130)
                                             ------         ------      ------
Closing shareholders' funds                   6,063          1,800       1,549
                                             ======         ======      ======


Notes to the interim financial statements

1.      The calculations of loss per share have been based on the retained loss
before taxation for the period and on a weighted average of ordinary shares in
issue during the period.

At 1 January 2005 there were 199,765,328 shares in issue and on 1 April 2005
62,500,000 shares were issued at par resulting in 262,265,328 shares in issue at
30 June 2005.

The weighted average number of shares is 231,187,980 shares, and the diluted
weighted average number of shares taking account of share options granted is
232,885,051 shares.

2.      Exploration costs are capitalised as intangible assets until the
decision is made to proceed to development. During the period the Board made the
decision to proceed with development resulting in a transfer of capitalised
intangible assets to tangible fixed assets.

3.      The unaudited interim financial information complies with the relevant
financial reporting standards and the accounting bases and policies are applied
on a basis consistent with those set out in notes 1 to 3 in the Annual Report
and Accounts 2004.

The financial information for the year ended 31 December 2004 has been extracted
from the Group's statutory accounts for the period, which have been delivered to
the Registrar of Companies. The auditors' report on those accounts was
unqualified and did not contain any statement under section 237 of the Companies
Act 1985.

4.      The interim report is unaudited and does not constitute statutory
accounts as defined in section 240 of the Companies Act 1985.

5.      No dividend is proposed.

6.      The interim report for the six months to 30 June 2005 was approved by
the Directors on 29 September 2005.



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