Q1 Production Results

Hochschild Mining PLC
16 April 2008



    Hochschild Mining plc Quarterly Production Report and Interim Management
            Statement for the three months to 31 March 2008 ('Q108')

Highlights:

  *  On track to achieving our 2008 production target of 26 million
     attributable silver equivalent ounces comprised of 16.9 million ounces of
     silver and 153 thousand ounces of gold

  *  Q108 in line with internal production forecast

  *  42% increase in attributable silver production year-on-year

  *  17% decrease in attributable gold production year-on-year, principally due
     to lower grades at Ares as previously announced in January 2008

  *  Capacity expansions at San Jose, Arcata and Selene on schedule to be
     completed later this year

  *  Preliminary results of the San Felipe scoping study received and the
     feasibility study progressing as planned

  *  Higher realisable prices for gold and silver, $933/oz and $17.28/oz
     respectively, due to a combination of strong prices and a fully un-hedged
     position

  *  Remain confident on containing our weighted average unit cost per tonne
     for our mines in 2008

  *  Revised agreement with Lake Shore Gold Corp. to increase stake by 15% at
     C$2.40 per share and reduce standstill to 2010

Eduardo Hochschild, Executive Chairman of Hochschild Mining plc, commented;

'This year we intend to consolidate our operations following a period of
significant growth having brought three new mines into production last year. We
are pleased with our first quarter results which are in line with our internal
forecast. With the achievements of 2007, our San Felipe project moving towards
feasibility and our strong project pipeline, we are on track to create the
operational platform that will enable us to deliver our 2011 production target
of 50 million silver equivalent ounces.'

Production in the first quarter was significantly higher than the equivalent
period last year at 5.8 million attributable silver equivalent ounces, up 12%.
However, as expected, production was below that of the fourth quarter of 2007
principally due to lower grades at Ares and Selene and also due to fewer days of
production in Q1 relative to Q4.

The capacity expansions at San Jose, Arcata and Pallancata are on schedule and,
as a result, production will increase in the second half of the year once these
expansions are completed. We are confident that we will reach our target of
producing 26 million attributable silver equivalent ounces in 2008.

The feasibility study currently being undertaken at San Felipe is progressing
well and we remain confident about the potential of the project, which is
scheduled to commence production in 2010. We expect to have results from the
study by the end of 2008. In the meantime, we are taking steps to ensure that we
have the necessary infrastructure in place to fast track this project into
production. During the first quarter of this year we began basic mine and mill
design and seeking permits to start construction of the exploration ramp.
Verification drilling has indicated total resources (measured and indicated) of
2.3 million tonnes, primarily at La Ventana, with 7.32% zinc, 3.19% lead, 0.41%
copper and 71 g/t silver. The goal is to realize at least four million tonnes of
total indicated resources by the third quarter of 2008 which will underpin a
positive feasibility study.

As a result of our fully un-hedged position and strong metals prices in the
first quarter of 2008, the average realisable prices for both gold and silver
were significantly higher at $933/oz and $17.28/oz, respectively.

We anticipate that we will be able to contain our weighted average unit cost per
tonne for our mines during 2008 despite continued inflationary pressures in the
industry. This is mainly due to increased throughput resulting from the
expansions, further mechanization, including the use of long drill holes and a
focus on reducing dilution and further cost reduction measures.

On 19 January 2008, the Group announced a 19.99% strategic investment in Lake
Shore Gold Corp. ('LSG') for C$64.6 million. Under the terms of the transaction
and subject to shareholder approval, Hochschild was granted an option to acquire
a further 15%, at market price, by way of a private placement with the right to
increase its ownership to 40%, on a fully-diluted basis, through market and
private transactions. As part of this agreement, Hochschild was subject to a
five-year standstill.

The Hochschild Board has now agreed to pay C$2.40 per share, representing a 38%
premium to LSG's average share price over the previous 20 days, in return for a
significant reduction in the duration of the standstill. Hochschild and LSG have
agreed that the standstill will now expire on 22 November 2010 (previously
scheduled to expire in February 2013) at which time Hochschild shall be free to
increase its ownership interest above 40%. These revised terms remain subject to
approval by LSG's shareholders.

During the quarter, with the exception of the aforementioned strategic
investment in Lake Shore Gold Corp., there have been no material events or
transactions affecting Hochschild Mining plc. There has been no significant
change in the financial position or performance of the Group since 31 December
2007, other than as described in this production report.

______________________________________________________________________

A conference call will be held at 2:00 pm (London time) on Wednesday 16 April
for the investment market.

Dial in details as follows:

UK                                     [phone]

A recording of the conference call will be available following its conclusion,
accessible from the following telephone numbers:

UK                                     [phone]
Access code                            792791
______________________________________________________________________

Enquiries:

Hochschild Mining plc
Wray Barber                            [phone]
Head of Investor Relations

Ignacio Rosado                         [phone]
Chief Financial Officer

Jose-Augusto Palma                     [phone]
Senior Adviser, Executive Committee

Finsbury
Robin Walker                           [phone]
Public Relations
______________________________________________________________________

About Hochschild Mining plc:

Hochschild Mining plc is a leading precious metals company listed on the London
Stock Exchange (HOCM.L for Reuters / HOC LN for Bloomberg) with a primary focus
on the exploration, mining, processing and sale of silver and gold. Hochschild
currently operates five underground epithermal vein mines, four located in
southern Peru and one in southern Argentina and one open pit mine in northern
Mexico. Hochschild also has one early development project in Mexico and sixteen
long-term prospects throughout Latin America. Hochschild has over forty years
experience in the mining of precious metal epithermal vein deposits.

For further information please visit www.hochschildmining.com
______________________________________________________________________

TOTAL PRODUCTION (1)
                                          Q1               Q4               Q1
                                        2008             2007             2007
--------------------------------------------------------------------------------
Silver production (koz)                4,310            5,155            2,561
Gold production (koz)                  44.06            70.09            42.66
Total silver equivalent (koz)          6,954            9,360            5,120
Total gold equivalent (koz)           115.90           156.00            85.33
Silver sold (koz)                      2,404            5,472            3,504
Gold sold (koz)                        29.78            60.35            52.16
--------------------------------------------------------------------------------
(1) Total production includes 100% of all production, including production
attributable to joint venture partners at Moris, San Jose and Pallancata.


ARCATA
                                            Q1              Q4              Q1
Product                                   2008            2007            2007
--------------------------------------------------------------------------------
Ore production (tonnes)                111,714         132,231          82,092
Average head grade silver (g/t)         572.95          581.06          491.25
Average head grade gold (g/t)             1.40            1.48            1.30
Concentrate produced (tonnes)            4,256           4,761           3,349
Silver grade in concentrate (kg/t)       13.43           14.04           10.54
Gold grade in concentrate (kg/t)          0.03            0.03            0.03
Silver produced (koz)                    1,838           2,211           1,134
Gold produced (koz)                       4.44            5.50            3.00
Silver sold (koz)                        1,032           3,161           1,575
Gold sold (koz)                           2.64            7.07            4.01
--------------------------------------------------------------------------------


ARES
                                            Q1              Q4              Q1
Product                                   2008            2007            2007
--------------------------------------------------------------------------------
Ore production (tonnes)                 79,376          92,401          72,266
Average head grade silver (g/t)         204.41          337.29          252.80
Average head grade gold (g/t)             6.64           14.67           15.03
Dore total (koz)                        471.68          674.19          564.09
Silver produced (koz)                      454             889             529
Gold produced (koz)                      16.07           41.81           33.49
Silver sold (koz)                          444             917             626
Gold sold (koz)                          16.36           42.20           40.15
--------------------------------------------------------------------------------


SELENE
                                            Q1              Q4              Q1
Product                                   2008            2007            2007
--------------------------------------------------------------------------------
Ore production (tonnes)                 97,017          97,590          90,192
Average head grade silver (g/t)         207.25          238.95          349.92
Average head grade gold (g/t)             1.20            1.41            2.55
Concentrate produced (tonnes)            1,090           1,112             861
Silver grade in concentrate (kg/t)       15.29           18.96           32.62
Gold grade in concentrate (kg/t)          0.08            0.10            0.21
Silver produced (koz)                      536             669             897
Gold produced (koz)                       2.95            3.61            6.16
Silver sold (koz)                          406             745           1,303
Gold sold (koz)                           2.26            4.30            8.01
--------------------------------------------------------------------------------


PALLANCATA (1)
                                                       Q1                   Q4
Product                                              2008                 2007
--------------------------------------------------------------------------------
Ore production (tonnes)                            50,893               63,612
Average head grade silver (g/t)                    340.10               322.64
Average head grade gold (g/t)                        1.61                 1.54
Concentrate produced (tonnes)                         541                  560
Silver grade in concentrate (kg/t)                  28.71                33.25
Gold grade in concentrate (kg/t)                     0.11                 0.13
Silver produced (koz)                                 500                  599
Gold produced (koz)                                  1.93                 2.33
Silver sold (koz)                                     391                  550
Gold sold (koz)                                      1.44                 2.03
--------------------------------------------------------------------------------
(1) The Company has a 60% interest in Pallancata.


SAN JOSE (1)
                                                      Q1                    Q4
Product                                             2008                  2007
--------------------------------------------------------------------------------
Ore produciton (tonnes)                           59,897                65,480
Average head grade silver (g/t)                   624.11                536.12
Average head grade gold (g/t)                       7.10                  7.03
Silver produced (koz)                                968                   776
Gold produced (koz)                                12.14                 11.66
Silver sold (koz)                                    323                    92
Gold sold (koz)                                     5.05                  1.49
--------------------------------------------------------------------------------
(1) The Company has a 51% interest in San Jose.


MORIS (1)
                                                      Q1                    Q4
Product                                             2008                  2007
--------------------------------------------------------------------------------
Ore produciton (tonnes)                          181,671               253,766
Average head grade silver (g/t)                     4.69                  4.62
Average head grade gold (g/t)                       1.43                  1.62
Silver produced (koz)                                 14                    11
Gold produced (koz)                                 6.53                  5.18
Silver sold (koz)                                     13                     6
Gold sold (koz)                                     5.60                  3.26
--------------------------------------------------------------------------------
(1) The Company has a 70% interest in Moris.

Certain statements in this production report are or may be forward looking
statements regarding Hochschild Mining plc's financial position and results,
business strategy, plans and objectives. By their nature, all forward-looking
statements involve risk and uncertainty because they relate to future events and
circumstances which are beyond the Group's control. As a result, the Group's
actual future financial condition, performance and results may differ materially
from the plans, goals and expectations set forth in the Group's forward-looking
statements. The Group undertakes no obligation to update the forward-looking
statements contained in this production report or any other forward-looking
statement it may make.

This production report does not constitute or form part of any offer, invitation
to underwrite, subscribe for or otherwise acquire or dispose of any Hochschild
Mining plc shares.

Past performance of the Company or its shares cannot be relied upon as a guide
to future performance and persons needing advice should consult an independent
financial adviser.

- ends -


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