EGM Statement

Celtic Resources Holdings PLC
31 December 2004


                         Celtic Resources Holdings Plc

               Resolutions approved at EGM and additional listing

Celtic Resources Holdings Plc ("Celtic" or "the Company") is pleased to announce
that all of the resolutions proposed at the extraordinary general meeting
("EGM") held today were duly passed.

Consequently, further to the announcement made on the 2nd December 2004
concerning, among other things, a placing with Barrick Gold Corporation,
application has now been made to the AIM Market of the London Stock Exchange Plc
("AIM") for the admission of 3,688,191 ordinary shares of €0.25 each in the
Company to be admitted to trading on AIM. These shares will rank pari passu with
existing ordinary shares and dealings are expected to commence in the new
ordinary shares at 8.00.a.m. on Friday, 7th January 2005.

Furthermore, application has also been made for a block admission of 1,844,096
new ordinary shares of €0.25 each in the Company to be admitted to trading on
AIM. These shares are to be issued as a result of the future exercise of
warrants issued to Barrick Gold Corporation as part of the placing and other
agreements announced on 2nd December 2004. These shares will rank pari passu
with existing ordinary shares and the block admission is expected to become
effective from 7th January 2005.

Enquiries:

Kevin Foo / Kate Dexter Smith                 Laurence Read
Celtic Resources Holdings Plc                 Conduit PR
Tel: [phone]                     Tel: [phone]
[e-mail]                      [e-mail]
--------------------------                    ------------------------

Joe Nally / Nick Morgan
Williams de Broe Plc
Tel: [phone]

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