Sale of Shares by Barrick Corporation

Highland Gold Mining Limited ("Highland Gold" or the "Company")

Sale of Shares by Barrick Gold Corporation ("Barrick")

Further to the announcement of 13 February 2012, Highland Gold has today received confirmation of the completion of Barrick's sale of 66,235,264 ordinary shares in Highland Gold (the "Shares"), representing Barrick's entire holding in the Company and 20.37% of the Company's issued share capital.

The share sale was completed today by way of an accelerated bookbuild with institutional investors and effected at a price of 120p per Share.

The Company welcomes the increase in its free float and looks forward to engaging with its new shareholders.

Contact:

Highland Gold

Dmitry Yakushkin, Head of Communications: + 7 495 424 95 21

Duncan Baxter, Chairman: + 44 (0) 1534 814202

Numis Securities Limited: +44 20 7260 1000

Alastair Stratton / Stuart Skinner (Nominated Adviser)

James Black (Corporate Broking)