Wednesday, July 25, 2007


London, Jul. 25, 2007 (PR Newswire UK Disclose delivered by Newstex) --


HARMONYPRESS RELEASEJohannesburg, Wednesday, 25 July 2007. Harmony Gold Mining Company Limited(Harmony) is pleased to publish its Statement of Ore Reserves which has beenproduced in accordance with the South African Code for the Reporting of MineralResources and Mineral Reserves (The SAMREC Code) and the Australian Code (TheJORC Code) as at 30 June 2007.Harmony announces gold Ore Reserves of 53.6 million ounces as at 30 June 2007.Despite the disposal of assets, successful pre-feasibility studies have addedadditional ounces to our reserves.Table 1 Ore reserve reconciliation: FY2006 to FY2007 Gold (tonnes) Gold (million ounces) Balance at June 2006 1 742 56.0 Reductions Mined during FY2007 (76) (2.4) Western areas equity (131) (4.2) ounces Disposals and shaft (34) (1.1) closures Total 1 501 48.3 Additions Evander South 65 2.1 (Pre-feasibility) Golpu (Pre-feasibility) 44 1.4 Other adjustments 56 1.8 Balance at June 2007 1 666 53.6 As indicated in the table above, Harmony's Ore Reserves as at 30 June 2007reflects a year-on-year depletion of 2.4 million ounces when compared with thecombined ore reserves for 30 June 2006. Disposals of assets, shaft closures,and the loss of the Western Areas equity ounces accounts for a further decreaseof 5.3 million ounces of reserves.The successful pre-feasibility studies at Harmony's Evander South Project aswell as Golpu in Papua New Guinea (PNG) added 3.5 million ounces to thereserves. A further increase of 1.8 million ounces is attributable to growth inthe reserves from the South African operations.A gold price of US$520/oz was used for the conversion of Mineral Resources toOre Reserves at our South African and Australasian operations. An exchange rateof USD/ZAR6.88 for South Africa and AUD/USD 0.73 for Australia has been used,resulting in a gold price of R115 000/kg or A$712/oz respectively.Table 2: Ore Reserves as at 30 June 2007 Underground, open pits, and projects Tonnes (Mt) g/t Gold (`000 kg) Gold (`000 oz) Proven reserves 56,3 5.81 327 10,5 Probable reserves 275,2 4.65 1 278 41,1 Total 331,5 4.84 1 605 51,6 Surface Stockpiles Tonnes (Mt) g/t Gold (`000 kg) Gold (`000 oz) Proven reserves 196,1 0.29 57,2 1,8 Probable reserves 11,5 0.59 6,8 0,2 Total 207,6 0.31 64,0 2,0 Harmony also announces the completion of pre-feasibility studies for the Golpucopper/gold deposit, located at the Wafi/Golpu site in the Morobe province ofPNG. The Wafi pre-feasibility currently underway is due for completion inOctober 2007.The highlight of the pre-feasibility study is the definition of a probable orereserve of 70.8 million tonnes grading 1.13% copper, 0.61g/t gold, and 121ppmmolybdenum. Importantly, the mining plan has restricted the overall averagearsenic grade to 136ppm, with the highest grade in any single year restrictedbelow 300ppm, to ensure that a saleable concentrate is maintained throughoutthe project life.Further analysis undertaken during the pre-feasibility study indicates thatinclusion of inferred material in the mining plan may see the mining inventoryincrease to 100.7 million tonnes grading 0.95% copper, 0.54g/t gold, and 129g/tMolybdenum. Based on this mining inventory and metal prices of $2.30/lb copperand $520/oz gold, the mine will have a production life of approximately 13years, recovering 64 000 tonnes of copper, and 73 000 ounces of gold toconcentrate per year.Table 3: Golpu Ore Reserve (Poly metallic) Cutoff Tonnes Cu Au As Mo Cu Cu Metal Au Metal Mo Mo Metal Metal Metal (Million Cu % (Mt) % ppm ppm ppm (million (`000oz) lbs) (`000t) lbs) (`000t) Probable 0.0 70.8 1.1 0.6 136 121 800 1 763 1 389 8.6 18.9 In addition to the gold reserves of Hidden Valley included in table 1 above,Hidden Valley has the following silver reserves:Table 4: Ore reserves (silver)Tonnes g/t Silver* Silver* (Mt) (`000kg) (`000oz) 38.1 34 1 299 41 759* Calculated using a gold cutoff of 0.8g/tThis Statement forms part of the company's Mineral Reserves and MineralResources declaration which will be published in our FY 2007 annual reporttowards the end of September 2007.In addition our annual report will contain full details of our uraniumresources. In the meantime, we are pleased to declare the following uraniummineral resources within the measured resource category, as a result of anextensive drilling exploration programme: * 5 tailings dams in Randfontein; 360 million tonnes containing 79 million pounds of U3O8 * 6 tailings dams in the Free State; 190 million tonnes containing 30 million pounds of U3O8 The resources quoted above represent total contained dump resources and noeconomic cut-offs have been applied. Economics of dual pay limits have also notbeen applied.Chief Executive Bernard Swanepoel says, 'The FY 2007 annual report will be thefirst report in our 57 year history in which we will declare copper, molybdenumAnd uranium reserves and resources. Despite the fact that we have always owneduranium, it was always treated as a mere by-product and off-set against cost.The results of our uranium deposits prove to be worthwhile to proceed tofeasibility study stage'.The competent persons responsible for the overall preparation and reporting ofthe company's mineral resources and ore reserves are Jaco Boshoff (SouthAfrica), Mark Cossam (Australia), Jake Russell (Australia) and Greg Job (PapuaNew Guinea).Ends.Issued by Harmony Gold Mining Company Limited25 July 2007For more details contact:Amelia SoaresInvestor Relations General Manageron +27(0)82 654 9241orJaco BoshoffOre Reserve Manageron +27(0)83 395 3810orGraham BriggsCE, Australasian OperationsOn +27(0)83 2650274For the comprehensive set of results please visit www.harmony.co.zaJSE: HAR HAR NYSE: HMYNASDAQ: HMYISIN No.: ZAE000015228Corporate Office: Suite No.1 Private Bag X1 Melrose Arch Johannesburg SouthAfrica 2076 T +27 (11) 684 0140 F +27 (11) 684 0188www.harmony.co.za NYSE : HMY JSE : HAREND


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