Oxus Mining plc (OXS.L) is pleased to announce that on 2 April 2003 Oxus Resources Corporation ("Oxus") and Amantaytau Goldfields ("AGF") signed a credit agreement with Standard Bank London Limited and WestLB AG, amongst others, for a US$36 million project finance facility to finance the construction of Amantaytau Goldfields Phase 1 (oxides) Project in Uzbekistan. The facility consists of a US$30 million term loan plus a cost overrun facility of US$6 million.

Drawdown of these funds, anticipated within the first half of April 2003, is subject to the satisfaction of final conditions precedent, which Oxus is confident will be met within this time. Oxus is not required to provide any further funding by way of equity or subordinated debt.

Contracts for the construction and mining of the Project have been awarded, and the pre-production capital cost of the Project is set at US$29.9 million, including financing costs, pre-production interest, contingency and working capital.

It is estimated that the first gold pour will take place before the end of 2003.

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Contacts:

Oxus Mining plc
Tel: +44 (0) 1483 714411
Email: enquiries@oxusgold.co.uk
John Donald, COO

Brown Shipley Corporate Finance
Tel: +44 (0) 20 7606 9833
Bill Staple

Website: www.oxusgold.co.uk