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Peter Hambro Mining (POG)

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Monday 17 July, 2006

Peter Hambro Mining

Directors Dealings

Peter Hambro Mining PLC
17 July 2006



17th July 2006

                               Directors Dealings

Peter Hambro Mining PLC (the "Company") hereby announces that it has been
notified by Peter Hambro and Pavel Maslovskiy, directors of the Company, of the
information set out below.

In order to provide financing for a term of two years for the diversification of
Peter Hambro's and Pavel Maslovskiy's separate investment portfolios (including
the purchase of an aggregate of 20 million Aricom shares being concurrently
announced), Peter Hambro Limited ("PHL"), a company associated with Peter Hambro
, has today entered into a financing transaction by way of a prepaid cash
settled equity derivative transaction with Goldman Sachs International ("GSI")
in respect of 3 million ordinary shares of £0.01 each in the capital of the
Company ("Shares").

PHL has today also agreed to stock-lend for a term of two years 3 million Shares
to GSI as collateral for its obligations under the financing transaction. The
same number of Shares are to be redelivered to PHL by GSI at maturity of the
transaction.

PHL undertook the financing transaction on behalf of itself (777,778 shares and
respective financing) and Macaria Investments Limited ("Macaria"), a company
associated with Pavel Maslovskiy, (2,222,222 shares and respective financing).
PHL has agreed back-to-back arrangements with Macaria for this purpose.

Peter Hambro and Pavel Maslovskiy continue to retain an economic interest in
their holdings of 5,243,179 (6.52%) and 18,545,822 (23.07%) Shares respectively,
notwithstanding the application of the arrangements referred to above to the
Shares lent to GSI and the Shares owned by Macaria which are the subject of the
back to back arrangements. The percentage holdings remain unchanged.



Enquiries:
Alya Samokhvalova / Marianna Adams                        +44 (0) 207 201 8900
Peter Hambro Mining                                        www.peterhambro.com

David Simonson/ Tom Randell / Maria Suleymanova           +44 (0) 207 653 6620
Merlin




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