Belaya Gora Construction Update

29.11.2012

Highland Gold Mining Limited ("Highland Gold" or the "Company") announces that the work at its new stand-alone processing facility at Belaya Gora ("BG") is progressing well given the difficult winter conditions. Commissioning is expected in Q1 of 2013 with first gold production in April.

Highland Gold reiterates its 2012 production guidance of 200,000 to 215,000 ounces of gold and gold equivalents. BG is expected to contribute towards higher group production next year and 2013 production guidance will be provided as usual at the start of the year.

For further information please contact:

Highland Gold
Dmitry Yakushkin, Head of Communications
Duncan Baxter, Non-Executive Director

+ 7 495 424 95 21
+ 44 (0) 1534 814 202
   
Numis Securities Limited:
(Nominated Adviser and broker)
Alastair Stratton / Stuart Skinner, Nominated Adviser
James Black, Corporate Broking
 
+44 (0) 207 260 1000
+44 (0) 207 260 1000
 
Peat & Co
Charlie Peat, Joint Broker
+44 (0) 207 104 2334