Resource Statement

Hambledon Mining PLC
29 June 2005


                              HAMBLEDON MINING PLC

                              JORC resource up 45%
                                 Project update

Hambledon Mining Plc ('Hambledon' or the 'Group' or the 'Company), an AIM-listed
mining and exploration company developing precious metal deposits in Kazakhstan,
announces a significant increase in its gold resource, and further developments
with its Sekisovskoye and Tserkovka deposits.

Highlights:
     
•    Overall resource increased to approximately 3.5 million ounces,
     previously 2.8 million ounces

•    45% increase in JORC resource to 1.4 million ounces

•    Significant progress toward realisation of open pit project

•    Underground resource yet to be updated

The successful 2004 mineralogical continuity drilling results have led to
improvements in our understanding of the resource and a resultant increase in
its size. An updated modelling approach that better reflects the geostatistical
grade trends has been applied to the open pit resource and is currently being
applied to the deeper levels.

The total contained gold at Sekisovskoye for the combined open pit and
underground resource, presented on a western (JORC) basis, is 1.3 million
ounces, a 45% increase from the 2004 resource figures, plus 2.2 million ounces
of silver. In addition, an estimation of the Soviet prognosticated (P1) category
resource in extensions along strike and at depth has increased from 1.1 million
ounces to 1.4 million, an increase of 27%.

Significant additional potential on the newly acquired Tserkovka licence
territory amounts to some 740,000 ounces, mostly in the Soviet prognosticated
(P1) category.

The reporting of the resources in the central zone at Sekisovskoye, including
both the upper and lower levels as described below, is based on the guidelines
endorsed by the well-established Australian Code for Reporting of Mineral
Resources and Ore Reserves (JORC) Hambledon continues to report former Soviet
prognosticated (P1) resources where insufficient information is available to
enable an update to be made under JORC guidelines, or where it is necessary in
order to show the likely future potential, in accordance with the practice of
similar western companies operating in the former Soviet Union. Soviet category
resources below the level of P1 (for example, P2 or P3) have not been reported
because the confidence level associated with such categories is too low to be
meaningful.

Combined resource table:

                         JORC        JORC         C2           P1        Total
                    Indicated    Inferred
                           Oz          Oz         Oz           Oz           Oz
Sekisovskoye
- open
pit & underground   1,110,304     248,528          -    1,400,000    2,758,832
Tserkovka                   -           -    145,000      241,000      386,000
Other exploration
areas                       -           -          -      354,000      354,000
           Total    1,110,304     248,528    145,000    1,995,000    3,498,832

Figures include silver at gold equivalent (one ounce of silver = 0.0166 ounces
of gold)

Further details are set out in the Annual Report which has been sent to
shareholders and will be made available from the Company's web-site at
www.hambledon-mining.com

Tserkovka contract signed

The winning of the tender for the Tserkovka licence territory was announced in
November 2004. The related Subsoil Use Contract was signed on 24 June 2005 by
the government of Kazakhstan.

2005 drilling

Some 800 metres of core-drilling has been carried out at Sekisovskoye, mostly
targeting open pit ore zone extensions. Although no assay results have yet been
received, core logging has confirmed a near-surface extension of the Orebody 10
breccia zone. This is likely to translate into a somewhat larger open pit than
originally planned for start-up next year. Planning for underground drilling is
also currently underway.

Now that the Tserkovka Subsoil Use contract has been signed, drilling is
expected to begin in the next few days.

Open pit project

Design and optimisation of the mine plan for the Sekisovskoye open pit is
continuing. The preliminary optimised open pit shell, announced in March,
indicated that approximately 183,000 ounces would be mined over a six year life.
Whilst this was, itself, an 83% increase on the figure indicated at the time of
our flotation in June 2004, the eventual size may be larger still once this
season's drilling is concluded and the new modelling incorporated.

Optimisation test-work for the design of the process plant is now nearing
completion and a local firm to carry out the engineering, design and
construction will be selected next month. Detailed design of the tailings
storage facility has been started by a local company. Options for the supply of
power to the site have been reviewed and negotiations with the preferred
supplier are now taking place.

Preparation of submissions to the Kazakhstan State Committee on Ore Reserves is
underway.

Underground resource

For underground exploitation, the change in approach to the modelling of the
mineralised higher grade zones is nearing completion and results are expected
within the next few weeks.

Appointments

Mr Neil Stevenson, 43, recently Mining Manager and acting General Manager of
Golden Star Resources' Bogoso, Prestea and New Century Mines, has accepted the
position of Operations Manager and will join the team in August. Neil is a
mining engineer with a post graduate diploma in business administration from the
University of Queensland. He has a wealth of experience of both underground and
open pit operations which will first be put to use in the continued evaluation
of open pit options. A local underground mine design engineer has also accepted
a position with the group, beginning in July.

Mr Ian Petts, 28, has been appointed Group Financial Controller, to work in our
Almaty and Ust Kamenogorsk offices. Ian has an MSc (with distinction) in
Economics and has worked in Pakistan, Zimbabwe and Bulgaria. More recently, he
trained with Deloitte as a Chartered Accountant and has worked with Price
Waterhouse Coopers since qualifying.

Nicholas Bridgen Chief Executive, of Hambledon Mining Plc commented:

'The 2004 drilling results and the new modelling approach have resulted in a
greater appreciation of the open pit potential of the upper levels of the
deposit. For this reason, the upper levels have been modelled with a 0.5 gramme
per tonne cut-off grade down to a depth of 240 metres (to the '250 metre
level'). Grade and tonnage estimations for gold and silver show significant
gains in contained metal This new resource statement is the formal
quantification of what we've known qualitatively since the 2004 drilling results
were obtained - the more we look at this deposit, the more gold we realise it
contains, and we are confident that there's still a lot more to come.'


ENQUIRIES:                                                     29th June 2005

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

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


About Hambledon

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 larger underground resources.
Initial production from the open pit will be around 30,000 ounces per year,
rising to around 100,000 ounces when wholly underground ore is processed.
The Group also holds the rights to and is exploring the adjacent Tserkovka
licence area, which contains the areas known as Tserkovka, Feodulikha, Area 4
and Area 5. It is likely that any ore from these areas will be treated in an
expanded plant at Sekisovskoye.


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