LONDON, Feb. 25 /CNW/ - Further to its announcement of 19 February 2008,
Hochschild Mining plc ("Hochschild") is pleased to announce that it has today
completed the transaction to indirectly acquire 28,172,302 common shares in
the capital of Lake Shore Gold Corp. ("Lake Shore") or 19.9% of the issued and
outstanding common shares of Lake Shore on a non-diluted basis. The
transaction was completed by way of private placement by Lake Shore.
Following completion, Hochschild now holds 28,172,302 common shares of
As previously announced, Hochschild has paid total cash consideration of
C$64.6 million or C$2.30 per share, financed from its existing cash.
Notes to Editors:
Hochschild Mining plc (HOCM.L for Reuters / HOC LN for Bloomberg) is a
leading precious metals company listed on the London Stock Exchange with a
primary focus on the exploration, mining, processing and sale of silver and
gold. Hochschild currently operates five underground epithermal vein mines,
four located in southern Peru and one in southern Argentina and one open pit
mine in northern Mexico. Hochschild also has one early stage development
project in Mexico and fifteen long-term prospects throughout Latin America.
Hochschild has over forty years experience in the mining of precious metal
epithermal vein deposits. The registered address of Hochschild is 18 Hanover
Square, London, England, W1S 1HX.
About Lake Shore
Lake Shore Gold Corp. (LSG.TO for Reuters / LSG CN for Bloomberg) is a
Toronto listed mineral exploration company focused on the acquisition,
exploration and development of mineral properties with prospects for hosting
economic gold deposits in the Canadian Shield in Ontario and Québec. Lake
Shore is currently exploring six high-grade deposits in northern Ontario
(Timmins West, Bell Creek, Vogel/Schumacher, Thunder Creek and Blakelock). The
principal and most advanced property, Timmins West, is located at the west end
of the Timmins gold mining district, 18 kilometres west of the city of Timmins
and north of the main Porcupine-Destor Fault Zone. The Bell Creek complex
provides production capacity and the proximity of the plant to Timmins West,
Vogel and Schumacher helps facilitate Lake Shore's bringing into production
profitable ounces quickly and with minimal capital costs.
For further information:
For further information: Enquiries: Hochschild Mining plc: Raj Bhasin,
Head of Investor Relations, +44 (0)20 7152 6016