Oxus Gold plc ("Oxus" or "the Company") is pleased to announce the appointment of Mr Richard Shead as Executive Director, Corporate Development, of the Company with effect from 18 June 2003.

Mr Shead's appointment in an executive capacity follows his appointment in November 2002 to the board as a non-executive director. In his new capacity Mr Shead will be responsible for strategy, mergers and acquisitions and corporate development.

Mr Shead has many years experience in the mining industry. He was chief executive officer of East Daggafontein Mines Limited until 2002 and played an instrumental role in the merging of that company with Mvelaphanda Resources in 2002. He remains on the board of that company as a non-executive director for the time being.
Mr Shead has been granted an additional 2,500,000 options to purchase ordinary shares in the Company at an exercise price of 21.75p. These options will vest on the first receipt of revenue from the sale of gold from the Company's Amantaytau Goldfields project in Uzbekistan, and will expire on 17 June 2008. Mr Shead is now interested in 2,750,000 options.

Oxus Gold CEO, Bill Trew, said today: "In a short space of time Richard has made a valuable contribution to the board of Oxus. Oxus is going through a very exciting period and we plan to grow the Company substantially. Richard's considerable experience will prove invaluable in helping us plan and manage this growth to the benefit of our shareholders, staff and project partners."

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Contacts:

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Oxus Gold plc
Tel: +44 (0)20 7907 2000
Katie Campbell

Brown Shipley Corporate Finance
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Bill Staple

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