Placement of shares

RNS Number:8255Q
Highland Gold Mining Limited
13 October 2003



              Statement regarding placement of Highland Gold shares


"Highland Gold Mining Limited ("Highland") announces that discussions are taking
place in relation to the disposal by Harmony Gold Mining ("Harmony") of its
31.7% stake in Highland via a market placing.

"In this context, discussions have been taking place with a potential new
strategic investor with a view to it acquiring approximately 10% of Highland
Gold in the placing.

"There are also discussions taking place between the two parties which would
enable this investor to acquire further shares in Highland Gold at the placing
price through the issue of new shares to achieve an aggregate holding of 29% of
the company's enlarged issued share capital.

"It is emphasised that at the present time these arrangements are subject to
discussions and due diligence, and a further announcement will be made as and
when the placing is completed."


Enquiries:

Brunswick:                         Alison Howard                   020 7404 5959
                                   Mark Antelme


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