LONDON: 29 April 2008 – Oxus Gold plc (“Oxus” or the “Company”) (OXS.L) is pleased to announce  its intention to place  between US$25 million and US$35 million of convertible loan notes (the “Notes”).  The Company is also in the process of finalising a mandate with a leading international bank to arrange approximately $150 million in project finance (the “Project Finance Facility”) for Amantaytau Goldfields (“AGF”) in order for AGF to develop its Phase 2 underground sulphides project.