Acquisition of Fixed Assets

RNS Number:0225O
Highland Gold Mining Limited
28 July 2003



                                                                    28 July 2003



                           Highland Gold Mining Ltd
               Acquisition of certain fixed assets at Mnogovershinnoe



As announced on 4 July 2003, the Board of Highland Gold Mining Limited
("Highland Gold" or the "Company") has been in discussions with representatives
of the Khabarovsk regional administration regarding the acquisition of certain
fixed assets at Mnogovershinnoe, the Company's principal operating mine.  The
Board remains confident it will be able to acquire these assets which, to date,
have been leased from the Khabarovsk administration.


The sale process will be governed by the legal framework for the privatisation
of assets in the Russian Federation. The Board of Highland Gold expects that
details of the sale process will be announced by the Khabarovsk administration
in due course and that these details will include the proposed acquisition price
of the assets concerned.


The Board will inform shareholders of these further details at the earliest
opportunity.



Enquiries:

Brunswick Group Ltd                 Patrick Handley             [phone]
                                    Mark Antelme




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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