The Directors of Hidefield Gold plc ("Hidefield" or the "Company") announce that the Company has reached agreement with Hamilton Capital Partners Limited ("Hamilton"), a company with which Kenneth Judge, Chairman of the Company, is associated, for Hamilton to provide a convertible loan facility of up to �1,000,000 to the Company.

The principal terms of the convertible loan facility, which are set out in a convertible loan agreement signed by the Company on 25 July 2008 (the "CLA"), are as follows:

• The maximum facility amount is �1,000,000;

• Interest will accrue on advances made at a rate of LIBOR (UK) plus 3 per cent.;

• Hamilton has the right to invite third parties to participate in providing advances to the Company under the terms of the CLA up to the maximum facility amount;

• An existing advance made by Hamilton to the Company of US$250,000, together with accrued interest, shall be treated as the initial advance under the terms of the CLA;

• Additional advances shall be jointly agreed by Hamilton (and any other lender under the CLA) and shall not exceed �150,000 in any one month period;

• Hamilton (and any other lender under the CLA) shall have the right to convert advances made into ordinary shares of 1p each in the Company at a price of 3p per share; and

• The latest repayment date for all advances made (together with accrued interest), which have not been converted into ordinary shares, is 31 December 2009.