ALTN Altyngold Plc

RNS Number:9882B
Hambledon Mining PLC
26 April 2006


                              HAMBLEDON MINING PLC


                 Permit received for development of Sekisovskoye


                                 Project Update


Hambledon Mining Plc ("Hambledon"), the AIM-listed mining and exploration
company developing precious metal deposits in Kazakhstan, announces that the
State Commission for Mineral Reserves of the Republic of Kazakhstan has approved
the General Resource Estimate of reserves at the central zones of the
Sekisovskoye gold deposit, together with various associated mining parameters as
submitted by Hambledon's 100% owned subsidiary, TOO Sekisovskoye ("Company").


Highlights:


   *General Resource Estimate at Sekisovskoye has been approved by the State
    Commission for Mineral Reserves of the Republic of Kazakhstan


   *Underground drilling programme of more than 4,000m at Sekisovskoye
    completed - significant new mineralisation identified


   *Four 45 tonne BelAZ haul trucks delivered to mine site out of an eventual
    total of seven


   *Two Hitachi Zaxis 850H excavators en route from Vladivostok to the mine
    site; expected to arrive next week


   *Manufacture of crushers and related equipment substantially complete by
    Shenyang Sanland, China. Delivery expected in mid June


   *Ball mills under construction by JSC "Tjazhmash" in Syzran City, Russia,
    for delivery in early June


   *Renovation of 780 square metres of office, laboratory and kitchen
    facilities at Sekisovskoye now complete. Relocation of staff from Ust
    Kamenogorsk commenced


   *Recruitment of staff underway: more than 100 employees in place


   *On schedule to commence mining in June



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


"The preparation and submission of the General Resource Estimate involved a
massive amount of work by our team of geologists over many months. We have
received the approval much faster than we anticipated which shows that, if we
fulfil our responsibilities, the authorities are very helpful in getting things
done quickly. This is a fundamental step and represents the most significant and
time consuming hurdle in the process by which mining operations in Kazakhstan
are approved.


"Following the raising of further equity finance in March, all the major
equipment items have now been ordered. Other progress has been excellent, though
the spotlight is now on how quickly the final detailed engineering work can be
completed and approved."


                                                               26th April 2006


ENQUIRIES:


Hambledon Mining Plc                     Tel: +7 300 733 8915

Nicholas Bridgen, Chief Executive


Bankside Consultants                     Tel: 0207 367 8888

Michael Spriggs / Michael Padley





General Resource Estimate


The Kazakhstan approval process requires that an estimate of resources be
submitted, together with mining, processing and other information, broadly
equivalent to a western style feasibility study, for approval by the State
Commission on Reserves. This estimate is reviewed by experts appointed by
VosKazNedra, the appointed body in East Kazakhstan oblast, and by the Ministry
of Energy and Mineral Resources. The effect of the approval is that the
resources have been entered into the State Balance and allows the Company to
progress to the mining stage of the subsoil use contract.


This is a fundamental step and represents the most significant and time
consuming hurdle in the process by which mining operations in Kazakhstan are
approved. Further approvals will still be required, principally concerning the
environmental impact, the tailings dam and detailed design.


The approved resources of the central Sekisovskoye zones amount to 827,000
ounces (gold equivalent) of which 482,000 ounces are in the category C1 and
345,000 ounces are in category C2. The estimate is based on the geological
information to hand at the date of submission and excludes the results of the
underground drilling programme that has just been completed.


This approval does not affect the resources which the Company reports on a
Western JORC basis. Analysis of the results of recent drilling is ongoing and a
revised open pit resource and reserve, on a Western JORC basis, will be
announced in due course.


Underground drilling programme


Over the winter period December to March the company completed a 4,000 metre
underground drilling programme from the existing 441 (adit) level of the
Sekisovskoye deposit. The purpose of the programme was to further define the
mineralisation at the deeper levels of the proposed open pit. All gold assays
have now been received and a new resource model of the open pit zone is being
prepared. Significant new mineralisation has been intercepted but the effect on
the overall open pit resource is not yet known.


Equipment procurement


Following the raising of further equity finance in March all the major equipment
items have now been ordered. Four (out of an eventual total of seven) BelAZ 45
tonne haul trucks have been delivered to the mine site and two Hitachi Zaxis
850H (85 tonne) excavators are already in transit from Vladivostok by rail. The
excavators are expected to arrive at the mine site in about a week and will be
used for site preparation prior to the start-up of mining in June. The two main
ball mills have been ordered from JSC "Tjazhmash" in Syzran City, Russia, with
delivery scheduled for early June. Shenyang Sanland, the Chinese manufacturers
of the crushers and related equipment have notified the Company that the
equipment is substantially complete and will be ready for despatch in May with
expected arrival on site in mid June.


Engineering


Following the earlier than expected approval of the General Resource Estimate,
the critical path has now moved to completion of detailed engineering design.
This work was originally intended to have been partly carried out in Perth,
Australia, but delays due to the lack of availability of design engineers have
caused the Company to source more of the work locally. Good engineers have been
located but similar delays are now being experienced in Kazakhstan. The Project
does remain on schedule but firm completion dates have not yet been established.


Mine planning


Mine planning was previously undertaken on the basis of the former resource
estimates existing prior to the underground drilling programme. Updated mine
planning will begin on the basis of the new resource estimates now under
preparation as well as the current higher gold price.


Office and laboratory facilities


The company has acquired a disused building of 1,350 square metres (plus
basement) in the village of Sekisovka, about a kilometre from the mine site, for
use as offices, kitchen facilities and assay laboratory. Up to now, the
Company's employees have been housed in offices in Ust Kamenogorsk, 40 km from
the mine site, with only a residential house for use as a site exploration
office. The first stage of renovation, including the roof, services and 780
square metres of office space, has been completed and the transfer of staff has
begun. A separate wing of the building is to be prepared for use as a laboratory
for assay of grade control samples during mining operations. Appropriate
equipment for sample preparation and assaying has been ordered.


Recruitment


The company has been recruiting appropriate staff and workers to carry the
project forward into the operating phase. Since the beginning of 2005, the
complement has moved from just 20 employees to the current level of over 100.
Most senior positions have now been filled with well qualified and experienced
local personnel. The full complement is expected to total over 250.



Note for editors'


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 40,000
- 45,000 ounces per annum, rising to over 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 and has been notified that it is to be awarded the nearby Glinka and
Krugliachka areas. Any ore from these areas is expected to be treated in an
expanded plant at Sekisovskoye.



ENDS



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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