Secondary Placing

Hochschild Mining PLC
13 November 2007




    Result of Secondary Placing of Ordinary Shares in Hochschild Mining plc
                        ('Hochschild' or the 'Company')

   NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION INTO OR IN THE UNITED STATES,
                          CANADA, AUSTRALIA OR JAPAN.

JPMorgan Cazenove Limited ('JPMorgan Cazenove' or the 'Manager') has completed a
secondary placing of 10,225,000 ordinary shares in Hochschild (the 'Placing
Shares'), representing in aggregate 3.33 per cent. of the issued share capital
of the Company (the 'Placing'), at a price of 440 pence per share.

The sellers of the ordinary shares were Alberto Beeck and Roberto Danino
(together the 'Selling Shareholders') who sold 8,500,000 and 1,725,000 shares
respectively.

The Placing was intended to allow the Selling Shareholders to diversify their
investment portfolios and increase the free float and trading in the Company's
shares. Following this placing, the Selling Shareholders, Alberto Beeck and
Roberto Danino, continue to own 25,112,074 and 1,725,000 ordinary shares in
Hochschild, representing c. 8.17 per cent. and 0.56 per cent. respectively of
the issued share capital of the Company. The Selling Shareholders have consented
to a lock-up of 120 days with respect to their residual holdings.

Enquiries:

JPMorgan Cazenove
Ian Hannam                                                   [phone]
Andrew Wray


MEMBERS OF THE GENERAL PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN THE PLACING. THIS
ANNOUNCEMENT AND THE PLACING ARE ONLY ADDRESSED TO AND DIRECTED AT PERSONS WHO
ARE (1) QUALIFIED INVESTORS WITHIN THE MEANING OF DIRECTIVE 2003/71/EC AND ANY
RELEVANT IMPLEMENTING MEASURES (THE 'PROSPECTUS DIRECTIVE') AND (2) WHO HAVE
PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS WHO FALL WITHIN
ARTICLE 19(1) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL
PROMOTION) ORDER 2005 (THE 'ORDER') OR ARE PERSONS FALLING WITHIN ARTICLE 49(2)
(A) TO (D) ('HIGH NET WORTH COMPANIES, UNINCORPORATED ASSOCIATIONS, ETC') OF THE
ORDER OR ARE PERSONS TO WHOM AN OFFER OF THE PLACING SHARES MAY OTHERWISE
LAWFULLY BE MADE (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS 'RELEVANT
PERSONS'). THE INFORMATION REGARDING THE PLACING SET OUT IN THIS ANNOUNCEMENT
MUST NOT BE ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY
INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS
AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT
PERSONS.

This announcement has been issued by the Manager and is the sole responsibility
of the Manager. This announcement is for information purposes only and does not
constitute an offer or an invitation to acquire or dispose of any securities of
Hochschild in the United States, Canada, Australia or Japan or in any other
jurisdiction in which such an offer of solicitation is unlawful. The Placing
Shares have not been, and will not be, registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in the United
States absent registration or an exemption from registration. There will be no
public offering of securities in the United States.

Any investment decision to buy securities in the Placing must be made solely on
the basis of publicly available information which has not been independently
verified by the Manager or the Selling Shareholders.

Neither this announcement nor any copy of it may be taken, transmitted or
distributed, directly or indirectly in or into the United States, Canada,
Australia or Japan. Any failure to comply with this restriction may constitute a
violation of United States, Canadian, Australian or Japanese securities laws.
The distribution of this announcement and the offering or sale of the Placing
Shares in certain jurisdictions may be restricted by law. No action has been
taken by the Manager, or any of their respective affiliates, or any other person
that would permit an offer of the Placing Shares or possession or distribution
of this announcement or any other offering or publicity material relating to the
Placing Shares in any jurisdiction where action for that purpose is required.
Persons into whose possession this announcement comes are required by the
Manager to inform themselves about and to observe any such restrictions.

The lock-up arrangement referred to above is subject to customary exceptions. A
disposal of locked-up shares may be permitted with the prior consent of the
Manager.

The Manager is acting for the Selling Shareholders only in connection with the
Placing, and no one else, and will not be responsible to anyone other than the
Selling Shareholders for providing the protections offered to clients of the
Manager nor for providing advice in relation to the Placing.

- ends -




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