LONDON: 9 March 2006 - Oxus Gold plc (“Oxus” or “the Company”) (OXS.L) announces that it has acquired an additional 24,592,562 ordinary shares of Marakand Minerals Limited (“Marakand”), (MKD.L) mainly from institutional shareholders. Following the acquisition, Oxus has increased its shareholding from 57,817,918 to 82,410,480 ordinary shares representing an increase from 57.23 per cent to 81.58 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 8,197,521 new Oxus shares to be admitted to the AIM Market. Dealings are expected to commence in the new ordinary shares at 15 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 296,633,757 ordinary shares.

A review of Marakand’s operations and interests and a further announcement will be made in due course.

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Contacts:

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

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