Drill results at Pariguanas (5103A)

TIDMHOC

RNS Number : 5103A

Hochschild Mining PLC

02 February 2011

______________________________________________________________________

2 February 2011

Positive drill results at new Pariguanas joint venture

Hochschild Mining plc ("Hochschild" or "the Company") is pleased to report positive drilling results from Pariguanas, a new joint venture ("JV"), with Compania de Minas Buenaventura ("Buenaventura"). The JV (signed in June 2010) covers 4,437 hectares located approximately 18 kilometres from the Company's existing Ares operation.

The Pariguanas project was created through the combination of neighbouring properties of similar size owned by Hochschild and Buenaventura. Buenaventura currently holds 60% of the JV with the obligation to achieve production by 2018. In the event that Buenaventura does not commence production within this timeframe, Hochschild will have the option to assume control of the project by committing to certain payments linked to Buenaventura's investment.

Pariguanas is a low sulphidation, predominantly underground vein system where up to five prospective areas have been outlined. A total of 7,290 metres in 31 holes has been drilled by Buenaventura to date, mainly focused on the San Pedro vein. Positive results include:

-- 2.7metres at 0.7 g/t Au & 1,194 g/t Ag including 0.9 metres at 1.6 g/t Au & 3,016 g/t Ag

-- 4.4 metres at 3.1 g/t Au & 2,376 g/t Ag including 1.6 metres at 7.5 g/t Au & 6,288 g/t Ag

Ignacio Bustamante CEO of Hochschild Mining plc commented:

"It is encouraging to report positive drill results from the early stage Pariguanas project, following the signing of the joint venture agreement with Buenaventura. The JV is located in a highly prospective area close to Hochschild's Southern Peruvian cluster and represents an attractive addition to our project pipeline."

Results to date (as reported to Hochschild by Buenaventura):

 
 Hole ID        From       To   Length   Au_gt   Ag_gt   Ag_Eq_gt 
-----------  -------  -------  -------  ------  ------  --------- 
 PAR09-03     123.95   124.40     0.45    0.13     226        234 
-----------  -------  -------  -------  ------  ------  --------- 
 PAR09-04     105.80   106.00     0.20    0.17     404        414 
             -------  -------  -------  ------  ------  --------- 
              114.55   114.90     0.35    0.56     397        431 
             -------  -------  -------  ------  ------  --------- 
              115.65   115.80     0.15    0.30     324        342 
             -------  -------  -------  ------  ------  --------- 
              118.65   119.65     1.00    0.31     214        233 
             -------  -------  -------  ------  ------  --------- 
              121.30   124.15     2.85    0.48     257        286 
             -------  -------  -------  ------  ------  --------- 
 PAR09-05     104.90   107.60     2.70    0.69   1,194      1,235 
             -------  -------  -------  ------  ------  --------- 
 Including    104.90   105.75     0.85    1.55   3,016      3,109 
-----------  -------  -------  -------  ------  ------  --------- 
 PAR09-05     109.70   110.05     0.35    0.45     412        439 
-----------  -------  -------  -------  ------  ------  --------- 
 PAR09-14     173.50   174.85     1.35    0.14     490        498 
-----------  -------  -------  -------  ------  ------  --------- 
 PAR10-01      53.65    53.95     0.30    0.33     524        544 
-----------  -------  -------  -------  ------  ------  --------- 
 PAR10-02      39.15    40.10     0.95    0.21     279        292 
-----------  -------  -------  -------  ------  ------  --------- 
               82.10    82.55     0.45    2.50     696        846 
-----------  -------  -------  -------  ------  ------  --------- 
 PAR10-03     118.30   119.30     1.00    0.71     462        505 
             -------  -------  -------  ------  ------  --------- 
 PAR10-09     185.75   190.15     4.40    3.05   2,376      2,558 
             -------  -------  -------  ------  ------  --------- 
 Including    185.75   187.35     1.60    7.46   6,288      6,736 
-----------  -------  -------  -------  ------  ------  --------- 
 PAR10-11     244.05   244.40     0.35    0.55     272        305 
-----------  -------  -------  -------  ------  ------  --------- 
 PAR10-11     246.50   246.75     0.25    0.55     364        397 
-----------  -------  -------  -------  ------  ------  --------- 
 ________________________________________________________________________

Enquiries

Hochschild Mining plc

Charles Gordon +44 (0)20 7907 2934

Head of Investor Relations

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.

Buenaventura

(NYSE:BVN / BVL: BVN) Peru's largest precious metal company. Buenaventura operates several mines in Peru and has controlling interests in other mining companies (El Brocal, La Zanja and CEDIMIN) as well as minority interests in Yanacocha (43.65%), via a partnership with Newmont Mining, one of the most important gold mining companies in the world, and Cerro Verde (19.26%), an important Peruvian copper producer located in southern Peru.

This information is provided by RNS

The company news service from the London Stock Exchange

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