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Peter Hambro Mining (POG)

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Wednesday 04 January, 2006

Peter Hambro Mining

Acqn of shares in subsidiary

Peter Hambro Mining PLC
04 January 2006



4 January 2006

Acquisition of shares in main Russian subsidiary

Peter Hambro Mining PLC ("PHM") is pleased to announce that it has been
successful in winning the auction for the 0.93% of OAO Pokrovskiy Rudnik ("PR")
that was previously held by the Committee of Property Management of the
Magdagachi District of the Amur Region of the Russian Federation. The stake was
auctioned as part of a privatisation programme in December 2005. As a result of
this PHM's stake in Pokrovskiy Rudnik has increased to 98.6 %. The acquisition
price was RUR 17.2m (c.US$596,000).

OAO Pokrovskiy Rudnik is the company that holds PHM's main producing and
exploration assets. The primary assets of PR are the licences for the
Pokrovskiy, Pioneer, Malomir and Voroshilvskoye deposits as well as PHM's
interest in the Yamal assets.

Enquiries:

Alya Samokhvalova, Director of External Communications   +44 (0) 207 201 8900
or Marianna Adams                                         www.peterhambro.com
Peter Hambro Mining

David Simonson or Tom Randell                            +44 (0) 207 653 6620
Merlin                                                   /+44 (0) 777 587 5847




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