LONDON: Thursday, 16 December 2004 - Oxus Gold plc ("Oxus" or "the Company") announces that, at the Extraordinary General Meeting held in London today, all of the resolutions requiring shareholder approval were passed with substantial majorities.

Consequently, the authorised share capital of the Company has been increased to £4,000,000 with the creation of 100,000,000 new Ordinary Shares of 1p, ranking pari passu in all respects with existing Ordinary Shares, and the Directors have been given authority to issue new Ordinary Shares under the terms of the resolutions approved at the meeting.

Application has been made for a block admission of 34,000,000 new Ordinary Shares of 1p each in the Company to be admitted to trading on the AIM Market of the London Stock Exchange. These Ordinary Shares are to be issued as a result of future conversions of convertible redeemable loan notes of the Company issued as part of the Placing as announced on Monday, 7 December 2004. These shares will rank pari passu with the existing Ordinary Shares and the block admission is expected to be effective from 17 December 2004.

Contacts:

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

Bankside Consultants Ltd.
Tel: + 44 (0)20 7444 4155/ 07885 356 639
Keith Irons, Chairman