Significant shareholding

Highland Gold Mining Limited - Indirect Holding(s) in Company

14 February 2011

Highland Gold Mining Limited ("the Company")

Notification of a significant indirect holding.

The Company has been informed that Mr Valery Oyf, its Chief Executive Officer, as a result of his interest in Primerod International Limited ("Primerod"), which at the time of his appointment in 2008 gave him an indirect interest of 2% in the total issued share capital of the Company, has increased that interest to 4.43%. Primerod is the holding vehicle through which OOO Millhouse group hold the 32% interest in the Company.

The issued share capital and total number of voting rights of the Company at 14 February 2011 is 325,197,098 ordinary shares of £0.001 per share. The figure of 325,197,098 shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the FSA's Disclosure and Transparency Rules.

For further information please contact:

Highland Gold -

Dmitry Yakushkin, Head of Communications - +7 495 777 3155

Duncan Baxter, Chairman +44 (0)1534 814202

Matrix -

Robin Henshall +44 (0) 20 3206 7172

Tim Graham +44 (0) 20 3206 7206

www.highlandgold.com