TIDMHOC 
 
RNS Number : 1605W 
Hochschild Mining PLC 
15 November 2010 
 

 
______________________________________________________________________ 
 
15 November 2010 
 
  Hochschild enters into option agreement for the Valeriano property in Chile 
 
Hochschild Mining ("Hochschild" or "the Company") is pleased to announce that it 
has entered into an option agreement with Sociedad Contractual Minera Valleno 
for the Valeriano property which is located 27 kilometres north of Barrick Gold 
Corporation's Pascua Lama project. The Pascua Lama project has reserves of 17.8 
million ounces of gold and 671 million ounces of silver[1]. 
 
The Valeriano project covers an area of 3,750 hectares in close proximity to the 
Argentinian border and hosts both high-sulphidation as well as porphyry style 
disseminated gold mineralisation. The property has been explored by a number of 
mining companies in the past including Phelps Dodge (1989 - 1991) and Barrick 
(1995 - 1997), both of which completed drill campaigns totalling 12,575 metres. 
No significant exploration has been undertaken at the property since 1997. A 
number of highly mineralised intercepts have been reported from this drilling 
including: 
 
·      100 metres at 1.37 g/t Au in typical shallow high sulphidation style 
mineralisation starting at 19 metres depth 
·      41 metres at 0.61 g/t Au, 12 g/t Ag and 0.30% Cu, porphyry type 
mineralisation starting at 70 metres depth 
 
Under the terms of the option agreement, Hochschild has the right to earn 100% 
into the project by undertaking exploration work and committing to make certain 
payments over a three year period. Upon signing, Hochschild made a payment of 
$500,000 to Sociedad Contractual Minera Valleno and has committed to spending $1 
million during 2011 which includes 2,500 metres of drilling. An additional $3 
million work commitment is required in the subsequent two years. At the end of 
2013, a final payment of $5 million is required to complete the option 
agreement. 
 
Exploration work is due to start immediately with a review of the existing data 
set and re-interpretation of geophysical data. Field work to be completed in 
2010 will include sampling and mapping surface exposures and acquisition of deep 
IP and resistivity surveys. Hochschild will commence a drilling programme in 
early 2011 to test the deep porphyry-style target as well as the near surface 
high-sulphidation system. 
 
Raymond Jannas, VP of Exploration commented: 
 
"We are pleased to announce the option agreement for the Valeriano property 
which is in line with our strategy of identifying early stage projects in key 
mineral districts which have significant upside potential and a clear path to 
control. Our highly experienced team of geologists will now prepare for an 
intensive drilling campaign at the project, which we believe has the potential 
to be a 'company maker' type property." 
 
 
___________________________________________________________________________ 
 
 
Enquiries: 
 
Hochschild Mining plc 
Jane Flynn 
                   +44 (0)20 7907 2933 
Investor Relations Manager 
 
Finsbury 
Faeth Birch 
                    +44 (0)20 7251 3801 
Public Relations 
 
 
 
 
 
 
 
___________________________________________________________________________ 
 
About Hochschild Mining plc: 
Hochschild Mining plc is a leading precious metals company listed on the London 
Stock Exchange (HOCM.L / HOC LN) with a primary focus on the exploration, 
mining, processing and sale of silver and gold. Hochschild has over forty years' 
experience in the mining of precious metal epithermal vein deposits and 
currently operates four underground epithermal vein mines, three located in 
southern Peru, one in southern Argentina and one open pit mine in northern 
Mexico. Hochschild also has numerous long-term prospects throughout the 
Americas. 
 
[1] Company data, proven and probable reserves as at 31 December 2009 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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