Total Measured & Indicated Resources at Amantaytau Increased by 940,000 ounces of gold to 4.30 million ounces

Total Measured, Indicated and Inferred Resources at Amantaytau now at 6.58 million ounces of gold

Oxus Gold plc (“Oxus”) (OXS.L) has made a further improvement to its gold resources in its Amantaytau Goldfields project in Uzbekistan.

The measured and indicated resources for the Amantaytau underground project have increased from 1.395 million ounces to 2.343 million ounces gold, as a result of new data, improved geological study, geostatistical modelling and resource evaluation.

The resource estimate for the Amantaytau underground gold mining project has been estimated by CSMA Consultants Limited ("CSMA"), and may be summarised as follows:

Note: Oxus has a 50% share in the above resources.

The total gold resource within Amantaytau Goldfields, including the open pit and underground resources, are as follows:

Resources (Gold Ounces)

The measured and indicated open pit and underground resources of gold and silver now stand at 4.30 million ounces gold and 9.71 million ounces of silver.

The Amantaytau open pit gold mine, together with its heap leach gold and silver recovery circuit, is ready for construction subject to finance. Oxus has a 50% share in the gold and silver resources in its Amantaytau Goldfields projects.

A detailed breakdown of the Amantaytau oxide and sulphide resources is attached as an Appendix to this announcement.

In addition to the above resources, CSMA state that the exploration potential within the licences as 'Exploration Results' is as follows:

-Open pit 3 million ounces of gold equivalent

-Underground 9.5 million ounces of gold equivalent

All of CSMA's resources are reported according to the Australasian Code for Reporting of Mineral Resources and Ore Reserves (The JORC Code, 1999) prepared by the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia, which is considered the international standard.

Oxus now plans to carry out a further 20,000 metres of drilling on the open pit resources, and 5,000 metres of drilling on the underground resources.

Oxus' interests in the Amantaytau Goldfields area cover some 882 square kilometres, within a 50 kilometre radius of the Muruntau Mine on the same major geological gold belt. Muruntau has been operating for over 30 years, producing some 45,000,000 ounces of gold, and is reported to have sufficient reserves to sustain production for a further 30 years. Newmont Mining has been operating in the region since 1995 and currently recovers 450,000 ounces of gold per year from the low grade stockpiles at Muruntau.

END

Contacts:

Oxus Mining
Roger Tuner, CEO
Michael de Villiers, Finance Director
Tel: +44 (0)1483 714411

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

College Hill
Archie Berens
Kate Aquila
Tel: +44 (0)20 7457 2020

APPENDIX
Amantaytau Oxide and Sulphide Gold and Silver Resources

Note 1: Oxus has a 50% share in the above resources
Note 2: Sulphide resources stated at a 6.0g/tAu cut-off and oxide resources at a 0.6 g/t Au cut-off unless defined in the table.
Note 3: Gold equivalent is calculated on the basis that 60 ounces silver is equal in value to 1 ounce of gold