LONDON: 23 March 2006 – The issuer wishes to advise that the announcement released at 10.18 today is incorrect. The first paragraph, first sentence should read:

1,343,097 ordinary shares

The correct version is as below:

Oxus Gold plc (“Oxus” or “the Company”) (OXS.L) announces that it has acquired an
additional 1,343,097 ordinary shares of Marakand Minerals Limited (“Marakand”),
(MKD.L) mainly from individual shareholders. Following the acquisition, Oxus has
increased its shareholding from 82,410,480 to 83,753,577 ordinary shares
representing an increase from 82.58 per cent to 81.91 per cent of the ordinary
issued share capital of Marakand.

As consideration for the purchase of the shares, application has been made to the
London Stock Exchange for 447,695 new Oxus shares to be admitted to the AIM
Market. Dealings are expected to commence in the new ordinary shares at 29 March
2006. The new ordinary shares will rank pari passu with the existing shares of the
Company. Following the allotment the total issued share capital of the Company will
be 297,139,172 ordinary shares.

Contacts:

Oxus Gold plc
Richard Wilkins, Company Secretary
Tel: + 44 (0)20 7907 2000

Bankside
Keith Irons
Oliver Winters
Tel: + 44 (0)207 367 8873