AGM Statement

Hambledon Mining PLC
22 July 2005
                               

                            Hambledon Mining PLC

                                 AGM Statement

George Eccles, Chairman, Hambledon Mining Plc ('Hambledon' or the 'Company), an
AIM-listed mining and exploration company developing precious metal deposits in
Kazakhstan, made the following comments at today's Annual General Meeting:

'The Company has made significant strides in the past year. Since acquiring the
gold deposit in East Kazakhstan in 1998 we have worked hard to deliver a low
cost, self-financing operation. We successfully listed on AIM in June 2004,
raising £2.5 million. We acquired further adjacent deposits last November and we
raised a further £5 million in April. Apart from a small amount of local bank
debt, we believe that the project will be self financing going forward.

'We recently announced the increase in the open pit resource, post the drilling
programme, and we expect to be in a position to make a statement regarding the
underground resource shortly. Ahead of this we have a total resource of   
3.5 million ounces of gold (JORC category 1.4 million).

'We are currently focused on bringing the open pit into production and expect to
be in a position to start construction of the treatment plant this year, with a
view to being in production in 2006.

'Exploration of the additional areas we acquired in November has already
commenced.

'The Board is very pleased with the progress made. We will be in production in
2006, we have a low cost operation with significant resources identified and we
are confident that additional reserves will be found. The more we look at this
deposit, the more gold we realise it contains, and we are confident that there
is still a lot more to come from the adjacent areas.'


ENQUIRIES:                                                        22nd July 2005

Hambledon Mining Plc                                      Tel: + 44 870 111 8778
Nicholas Bridgen, Chief Executive                            or + 7 300 733 8915

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.



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