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.

â„–	Â	HOLE	Â	COORDINATES			Â	Â	Â	Â	Â	Â	Â	DEPTH	Â	Â	Â	Â	Â	GOLD MINERALIZATION_ore intervals
Â		Â		X	Â	Y		Z		AZI		DIP		drilled		core		total		FROM	Â	TO	Â	LENGTH	Â	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
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		52.00		52.50		0.5		1.2
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		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
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		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
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		36		40.3		4.3		1.28
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		46.6		49		2.4		1.3
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		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
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		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
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		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
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		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
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		32		41		9		9.27
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		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
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		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
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		19		20		1		1.02
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		36		38		2		2.39
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		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
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		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
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		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
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		39		48		9		10.92
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		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		Â		Â		Â		Â		Â		12.7		Â		Â		--		--		--		--
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
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		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
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		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
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		8		9		1		1.6
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		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
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		27		37.8		10.8		2.22
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		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
Â		Â		Â		Â		Â		Â		Â		Â		Â		Â		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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