EGM Statement

Celtic Resources Holdings PLC
07 April 2004


For Immediate Release 7th April 2004



                         Celtic Resources Holdings Plc

                    Results of Extraordinary General Meeting


The Directors of Celtic Resources Holdings Plc ("Celtic" or the "Company") are
pleased to report the results of the Extraordinary General Meeting ("EGM") held
on Wednesday, 7th April 2004.

The EGM was held to allow the distribution of a proportion of the shares which
Celtic holds in Eureka Mining Plc ("Eureka") to qualifying Celtic shareholders
by way of a special dividend, as set out in a circular to shareholders dated 9
March 2004. The resolutions were passed by the shareholders and the Company will
now arrange for the distribution of the special dividend of Eureka ordinary
shares to take place on the 14 April 2004. The dividend in kind will be issued
to qualifying Celtic shareholders on the basis of one Eureka share for every ten
Celtic ordinary shares held at the record date, which was at 5 p.m. on 19 March
2004. Paying a dividend in Eureka ordinary shares allows Celtic shareholders to
receive the dividend in a negotiable form and allows Celtic to retain cash.

The dividend will transfer 3.53 million Eureka shares to qualifying shareholders
with the result that, following the special dividend, Celtic will remain
Eureka's largest shareholder holding 3.74 million shares representing 21.96 per
cent. of Eureka's issued share capital.

Eureka was formed specifically to consolidate and develop Celtic's Kazakhstan
precious and base metal exploration assets. Eureka raised £7 million by way of a
placing and its shares were admitted to trading on AIM in December 2003. Celtic
received 7,575,833 Eureka shares, valued at approximately US$15million,
representing 44.4 per cent. of the issued share capital, as payment for the sale
of these assets to Eureka.

Kevin Foo, Managing Director of Celtic said, "Celtic is pleased to announce this
special dividend, which is the Company's first dividend to shareholders and was
promised in 2002. The Eureka share distribution is a reward to Celtic
shareholders for their continued investment and will provide a significant
increase in the shareholder base of Eureka, improving the liquidity of the
shares."

David Bartley, CEO of Eureka added, "This distribution is positive for both
companies because it gives Eureka access to Celtic shareholders and reduces
Celtic's share in Eureka to a more practical level. We are extremely well placed
to take advantage of the huge resource potential in Central Asia and we intend
to distinguish ourselves as a solid, well run company with outstanding assets
such as the Shorskoye molybdenum project and our extensive precious and base
metal land holdings in Kazakhstan."

For more information please contact
Kevin Foo / Kate Dexter Smith                  Leesa Peters/ Laurence Read
Celtic Resources Holdings Plc                  Conduit PR
Tel: + 44 (0) 20 7593 0001                     Tel: [phone]
[e-mail]         Tel: [phone]
                                               [e-mail]
Joe Nally / Frank Moxon
Williams de Broe Plc
Tel: [phone]
www.celticresources.com




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