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Peter Hambro Mining (POG)

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Friday 25 February, 2005

Peter Hambro Mining

Collaboration with Polus

Peter Hambro Mining PLC
25 February 2005


25th February 2005

                      COLLABORATION WITH POLUS AT BAMSKOYE


Peter Hambro Mining Plc notes the announcement by ZAO Polus, the gold mining arm
of OJSC MMC Norilsk Nickel, of its success in the auction of the Bamskoye gold
deposit in the Amur Region of Russia's Far East and its intention to collaborate
with Peter Hambro Mining Plc in the exploration and development of the deposit.

Peter Hambro Mining Group welcomes the opportunity of working with Polus at
Bamskoye and the arrival of Russia's largest gold producer in the Amur Region
where it is the largest producer.

Peter Hambro, Chairman of Peter Hambro Mining Plc, commented:
"I am delighted that our friends from Polus have recognised the gold mining
opportunities within the Amur Region and look forward to working with them at
Bamskoye."


Enquiries:

Alya Samokhvalova                             Peter Hambro Mining Plc
                                              +44 (0) 20 7201 8900

Tom Randell                                   Merlin
                                              +44 (0) 20 7653 6620

Further details regarding the location of the assets can be found on the Group's
website at: www.peterhambro.com



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