RNS Number:1766N
Highland Gold Mining Limited
04 July 2003

                                                                   4th July 2003


               RESTRUCTURING OF LEASEHOLD AGREEMENT IN KHABAROVSK


The Board of Highland Gold Mining Limited is aware of recent press reports and
associated press speculation.

Highland Gold has been in discussions with the Khabarovsk Administration for
some time to acquire certain mining assets at the MNV mine, currently leased
under a 15 year agreement, signed in 1998, with the Khabarovsk Administration.
These discussions are now at an advanced stage and the Board expects to conclude
them shortly.  The Board will notify shareholders of developments in due course.


Enquiries:

Brunswick Group Ltd            Patrick Handley                 +44 20 7404 5959
                               John Sunnucks



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