Directorate Change

28.01.2008

Highland Gold Mining Limited ("Highland"), the AIM quoted Russian gold producer, announces the appointments, effective today, of Eugene Shvidler, Eugene Tenenbaum and Olga Pokrovskaya to its Board of Directors. Henry Horne and Scott Perry have resigned from the Board of Highland with immediate effect. Henry Horne remains in an executive role and Scott Perry is leaving Highland to take up another appointment.

The above-mentioned appointments and changes are made in accordance with the in terms of the Relationship Agreement made between Highland Gold and Millhouse LLC ("Millhouse") dated 4 December 2007, under which Millhouse took an equity interest in Highland aggregated to 40%. Under the terms of that agreement, Millhouse has the right to nominate directors to the Board of Highland proportionate to its shareholding.

The directors of Highland have reviewed and accepted the nominations and are pleased to welcome the new directors to the Board. In respect of the three new directors, other than the information provided below in accordance with Rule 17 of the AIM Rules, there is no information required to be disclosed pursuant to Schedule 2 paragraph (g) (iii) to (viii).

Enquiries:

Highland Gold
Henry Horne, Managing Director, Moscow - +7 495 777 5529
Dmitry Yakushkin, Director of Communications - +7 495 777 3155
Duncan Baxter, Corporate Affairs Director - +44 (0)1534 814 202
Dominic Palmer-Tomkinson - +44 (0) 207 7239 0140

JPMorgan Cazenove (Nominated Adviser)
Michael Wentworth-Stanley, Managing Director - +44 (0) 207 588 2828
Sam Critchlow

Fin Public Relations
Alex Glover - +44 (0) 207 608 2280

Millhouse LLC
John Mann - +7 495 961 1307