The following statement has been released by Oxus Gold and is issued in London by Bankside Consultants on behalf of the Company.

LONDON: 11 October 2001 - Oxus Gold plc ("Oxus" or "the Company") (OXS.L) is pleased to announce the appointment of Michael Beckett as chairman of the Board.

Mr Michael Beckett has a long and distinguished mining career. He is also the chairman of Ashanti Goldfields and was the Executive Managing Director of Consolidated Goldfields from 1975 to 1990. He recently visited Oxus' Amantaytau Goldfields project in Uzbekistan and commented "I am delighted to be joining Oxus as it prepares to construct its first project. The resource potential of Amantaytau is significant and I believe the start-up heap leach project, which is ready for construction, is only the beginning of a long and prosperous future for the company. The resource potential of the company's existing properties is substantial and I am impressed by the region, the existing mining operations and the infrastructure already in place to serve the project."

Roger Turner, the Managing Director states "This appointment brings a wealth of experience to Oxus. We are confident in the future and believe that this is a timely development. I am confident that with his proven track record in the mining industry we can look forward to a long and successful future."

Charles Cooper, non-executive chairman since the incorporation of Oxus in 1996 will remain on the Oxus board as a non-executive director. Oxus was admitted to the Alternative Investment Market of the London Stock Exchange in July 2001.

END

Contacts:

Oxus Gold
Roger Turner, CEO
Tel: +44 (0)1483 714 411

Oxus Gold
Richard Wilkins, Executive Director
Tel: +44 (0)1483 714 411

Bankside Consultants, London
Keith Irons
Tel: +44 (0)20 7220 7477