RNS Number:6359S
HPD Exploration PLC
28 November 2003



                  HPD Exploration Plc ("HPD" or the "Company")

SE   PRESS RELEASE   PRESS RELEASE   PRESS RELEASE   PRESS RELEASE   PRESS R

OFFER FOR SALE BY THE COMPANY TO HPD SHAREHOLDERS TO APPLY FOR 14,948,762 COMMON
            SHARES IN LANDORE RESOURCES INC. AT 9.5 PENCE PER SHARE

The following are extracts from the circular to be posted to the Company's
shareholders today. Words and expressions defined in this circular have the same
meanings in this announcement save when the context otherwise requires.

The Board of HPD is pleased to announce today that the Company is offering
Qualifying Shareholders of HPD the opportunity to acquire approximately 95 per
cent. of HPD's current interest in Landore Resources Inc. ("Landore"), a
Canadian company listed on the TSX Venture Exchange which owns a portfolio of
precious metal exploration properties in North America.

Qualifying Shareholders are invited to subscribe for Landore Common Shares under
the Offer on the basis of:

        1 Landore Common Share for every 9 existing HPD Ordinary Shares

held at the Record Date. The Directors intend to subscribe in full for their
entitlements under the Offer amounting in aggregate to 1,386,342 Landore Common
Shares. The Offer of shares to Qualifying Shareholders (other than the
Directors' entitlements) has been fully underwritten.


REASONS FOR THE OFFER

The HPD group is an independent minerals exploration group focusing its
operational activities on properties in Southern Argentina, through a 50 per
cent. interest in Patagonia Gold S.A. Landore, with properties in North America,
does not form part of this strategy. The disposal of Common Shares will provide
HPD with net proceeds of approximately #1.31 million for continuing exploration
and drilling in Patagonia while enabling those Qualifying Shareholders who
accept the Offer to acquire an interest in Landore and to continue to
participate in any future growth in that company.


THE OFFER

HPD is disposing of 14,948,762 Landore Common Shares representing approximately
35.5 per cent. of the total Common Shares in issue. The price of 9.5p per Common
Share represents a discount of approximately 3 per cent. to the bid price of a
Common Share on 24 November 2003. The pro rata entitlement of each Qualifying
Shareholder is one Common Share for every nine HPD Ordinary Shares held on the
Record Date. Applications in excess of Qualifying Shareholders' pro rata
entitlements will not be accepted.

Following the Offer HPD will continue to have a residual shareholding of 862,744
Common Shares (approximately 2 per cent. of the Common Shares in issue) and
warrants over a further 500,000 Common Shares. Most of these Common Shares have
a regulatory hold period until 17 February 2004 and it would therefore be
inappropriate to include these in the Offer.


Expected Timetable
Record Date for Qualifying Shareholders                      26 November
                                                                    2003

Latest time and date for receipt of Application Forms    3.00 p.m. on 12
and payment in full under the Offer                        December 2003

Where applicable, definitive share certificates for         by 7 January
Common Shares to be dispatched                                      2004


Enquiries:

Richard Prickett/Bill Humphries
HPD Exploration plc           Tel: 020 7409 7444

Sarah Wharry/John Depasquale
Seymour Pierce Limited        Tel: 020 7107 8000

Leesa Peters
Conduit PR                    Tel: 020 7936 9095




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

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