RNS Number:6277R
Highland Gold Mining Limited
04 November 2003

                                                                 4 November 2003

                         Mayskoye Announcement

Further to the announcement of 4 September, the Board of Highland Gold is
pleased to announce that, following the obtaining of all appropriate regulatory
approvals and consents, the finalisation of the Company's due diligence and the
making of an initial payment of $11.9 million, ownership of 100% of the shares
of JSC Mayskoye has been transferred to Stanmix Holdings Limited, a wholly-owned
subsidiary of the Company.


Highland Gold    Christine Coignard          +49 89 3000 1477
                 Dmitry Korobov              +7 095 777 3155

W.H. Ireland     David Youngman              +44 (0) 161 832 2174
                 Laurie Beevers

Brunswick        Alison Howard               +44 (0) 20 7404 5959

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