Appointment of Chief Operating Officer and Dril...

Chaarat Gold Holdings Limited

                          ("Chaarat" or the "Company")

           Appointment of Chief Operating Officer and Drilling Update

Road Town, Tortola, British Virgin Islands (26 January 2011)

Chaarat (AIM: CGH) is pleased to announce the appointment of Mr. Benoît de
Galbert as Chief Operating Officer of the Group and to report drilling results
from previously unreported drilling intersections at both Kiziltash and
Tulkubash.

Selected results from the Contact Zone of the Kiziltash Project


  * DH UG-14 interval of 12 metres @ 5.27 g/t
  * DH UG-18 interval of 4.50 metres @ 8.71 g/t
  * DH UG 19 interval of 6.00 metres @ 4.29 g/t
  * DH UG-20 interval of 8.50 metres @ 4.02 g/t
  * DH UG-22 interval of 22.50 metres @ 4.24 g/t
  * DH UG-405 interval of 12 metres @ 3.39 g/t


Selected results from the Tulkubash Project

  * T0703 interval of 7.50 metres @ 4.83 g/t
  * T0707 interval of 12.0 metres @ 5.13 g/t
  * T0708 interval of 6.55 metres @ 3.47 g/t
  * T0722 interval of 16.5 metres @ 4.10 g/t
  * T0726 interval of 4.50 metres @ 4.69 g/t
  * T0727 interval of 6.00 metres @ 4.43 g/t


Appointment of Chief Operating Officer

In preparation for the Company's move towards production, Chaarat has appointed
Mr. Benoît de Galbert as its Chief Operating Officer. Benoît will join the
Company in March 2011 and will be based in Bishkek.  He will be responsible for
the design, permitting, construction, and organisation of the mine and
processing plant to be erected at the Company's Chaarat property.

Benoît is an experienced manager who began his career with Arthur Andersen & Co.
in the early 1980s, before moving to roles with a number of French financial
institutions, ELF Aquitaine between 1991 and 1998 and Legris Industries between
1998 and 2000.

In 2000 he joined COGEMA (which became AREVA in 2003 following its merger with
FRAMATONE), and in 2003 was appointed as General Manager of KATCO, AREVA's joint
venture in uranium production with Kazatomprom in Kazakhstan and was in charge
of Central Asian operations for AREVA. As such he managed the design,
construction and the production ramp up of a large uranium project.  The project
involved the construction of two uranium processing plants and the mining
programmes for in-situ leaching with a total output of some 3,500 tonnes per
year.  This project involved responsibility for over 1,200 employees in
accordance with nuclear standards.

Dekel Golan, CEO of Chaarat, comments:
"Benoît's appointment is a significant step forward towards putting in place the
management  team capable of turning Chaarat  into a successful, robust producer.
 Benoît is experienced in the region and has a proven track record in developing
a  large scale mine as demonstrated by his tenure in Kazakhstan where he led the
team  that built from scratch a large, successful and very profitable operation.
 It is a great vote of confidence in the Company that a person of his calibre is
joining us.

"Today's  drilling results are an additional  demonstration that Chaarat holds a
major  and  growing  resource.   The  Contact  Zone  is again proving its robust
continuous  characteristics.  The results  from drilling in  the Tulkubash zone,
albeit less predictable than the Contact and Main Zones, continue to add to our
understanding  of the project  and provide confidence  that the Tulkubash can be
fast  tracked into production.  Today's results  are being incorporated into the
revised  resource  estimate  currently  being  calculated which the Company will
announce shortly.

"These  results provide  us with  further encouragement  and confidence  for the
establishment of a large, low cost mining operation, in addition to the open pit
Tulkubash project which we aim to bring into production in 2012."



Drilling update

The drilling results included below are previously unreported mineralised
intersections from the final holes of its 2010 drill campaign which ended in
November 2010.  The reported results are both from holes drilled in the
Tulkubash Project as well as the Contact Zone of the Kiziltash project and are
presented separately for ease of reference.

The intersections reported below, as well as the intersections reported
previously, will be included in the revised resource estimate.

Kiziltash project: Detailed unannounced intersections

+--------+-------+-----+------+------+-----------------+----------+------------+
| DH No. |Section|     | From |  To  |Intersected width|True width|Au g/t (ALS)|
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-20  | 4640  |     | 7.50 |15.00 |      7.50       |   6.00   |    2.06    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-20  | 4640  |     |71.50 |80.00 |      8.50       |   6.80   |    4.02    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-20  | 4640  |     |87.50 |90.50 |      3.00       |   2.40   |    4.01    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-21  | 4640  |     |66.00 |70.50 |      4.50       |   3.60   |    2.67    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-21  | 4640  |     |75.00 |81.00 |      6.00       |   4.80   |    2.81    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-21  | 4640  |     |84.00 |88.50 |      4.50       |   3.60   |    5.64    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-21  | 4640  |     |99.00 |100.50|      1.50       |   1.20   |    4.37    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-21  | 4640  |     |114.00|115.50|      1.50       |   1.20   |    5.41    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| C4601  | 4720  |     |66.50 |71.00 |      4.50       |   2.00   |    2.28    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| C4601  | 4720  |     |96.50 |164.00|      67.50      |  30.00   |    2.66    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| C4601  | 4720  |Incl.|114.50|122.00|      7.50       |   3.33   |    3.28    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| C4601  | 4720  |Incl.|131.00|140.00|      9.00       |   4.00   |    3.03    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| C4601  | 4720  |Incl.|141.50|146.00|      4.50       |   2.00   |    7.15    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| C4601  | 4720  |Incl.|155.00|164.00|      9.00       |   4.00   |    3.88    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| C4601  | 4720  |     |329.50|338.50|      9.00       |   4.00   |    2.54    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| C4601  | 4720  |     |346.00|349.00|      3.00       |   2.00   |    2.61    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-14  | 4720  |     | 0.00 | 3.50 |      3.50       |   2.45   |    3.14    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-14  | 4720  |     |12.40 |15.40 |      3.00       |   2.10   |    2.74    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-14  | 4720  |     |22.40 |25.40 |      3.00       |   2.10   |    4.16    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-14  | 4720  |     |79.00 |101.50|      22.50      |  15.75   |    2.60    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-14  | 4720  |Incl |97.00 |101.50|      4.50       |   3.15   |    3.63    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-14  | 4720  |     |142.00|154.00|      12.00      |   8.40   |    5.27    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-18  | 4720  |     | 6.00 |10.50 |      4.50       |   3.75   |    8.71    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-18  | 4720  |     |59.50 |62.50 |      3.00       |   2.49   |    3.19    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-18  | 4720  |     |70.00 |74.50 |      4.50       |   3.74   |    3.44    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-22  | 4720  |     |66.00 |88.50 |      22.50      |   18.5   |    4.24    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-22  | 4720  |     |94.50 |105.00|      10.50      |   8.40   |    3.33    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-22  | 4720  | Incl|100.50|105.00|      4.50       |   3.70   |    5.00    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-15  | 4800  |     |13.00 |14.50 |      1.50       |   1.00   |    3.83    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-15  | 4800  |     |32.50 |35.50 |      3.00       |   2.00   |    2.01    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-15  | 4800  |     |110.50|116.50|      6.00       |   4.00   |    3.94    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-15  | 4800  |     |127.00|131.50|      4.50       |   3.00   |    3.61    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-19  | 4800  |     | 6.00 |10.50 |      4.50       |   3.74   |    3.97    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-19  | 4800  |     |19.50 |22.50 |      3.00       |   2.49   |    2.96    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-19  | 4800  |     |83.00 |95.00 |      12.00      |   9.96   |    2.65    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-19  | 4800  |Incl |83.00 |89.00 |      6.00       |   4.98   |    3.19    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-19  | 4800  |     |102.50|108.50|      6.00       |   4.98   |    4.29    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-19  | 4800  |     |122.00|123.50|      1.50       |   1.25   |   11.15    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| C46102 | 4840  |     |107.00|159.50|      52.50      |  25.50   |    2.13    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| C46102 | 4840  |Incl |107.00|116.00|      9.00       |   4.37   |    2.72    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| C46102 | 4840  |Incl |126.50|131.00|      4.50       |   4.37   |    4.33    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| C46102 | 4840  |Incl |144.50|149.00|      4.50       |   2.19   |    2.62    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| C46102 | 4840  |     |165.50|168.50|      3.00       |   1.46   |    2.38    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| C46102 | 4840  |     |198.50|209.00|      10.50      |   5.10   |    2.14    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| C46102 | 4840  |     |210.50|213.50|      3.00       |   1.46   |    2.08    |
+--------+-------+-----+------+------+-----------------+----------+------------+
|Tr532_10| 5320  |     |22.00 |25.50 |      3.50       |   2.31   |    2.03    |
+--------+-------+-----+------+------+-----------------+----------+------------+
|Tr532_10| 5320  |     |43.00 |46.00 |      3.00       |   2.00   |    2.87    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-404 | 5360  |     | 92.5 |110.5 |      18.00      |  14.94   |    2.09    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-404 | 5360  |Incl.|  94  |  97  |      3.00       |   2.49   |    4.07    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-404 | 5360  |Incl.|109.00|110.50|      1.50       |   1.25   |    4.18    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-403 | 5400  |     |109.00|110.50|      1.50       |   1.25   |    6.63    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-403 | 5400  |     |124.00|128.50|      4.50       |   3.74   |    2.79    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-403 | 5400  |     |136.00|139.00|      3.00       |   2.49   |    6.58    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-405 | 5400  |     |103.00|115.00|      12.00      |   9.96   |    3.39    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-405 | 5400  |Incl.|103.00|106.00|      3.00       |   2.49   |    5.97    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-405 | 5400  |Incl.|110.50|113.50|      3.00       |   2.49   |    4.05    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-402 | 5440  |     |121.00|125.50|      4.50       |   3.05   |    2.15    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-402 | 5440  |     |133.00|137.50|      4.50       |   3.05   |    2.94    |
+--------+-------+-----+------+------+-----------------+----------+------------+
| UG-402 | 5440  |     |161.50|166.00|      4.50       |   3.05   |    2.58    |
+--------+-------+-----+------+------+-----------------+----------+------------+


Tulkubash Project: detailed results (True widths)
+------+-------+-----+------+------+-----------------+----------+------+
|DH No.|Section|     | From |  To  |Intersected width|True width|Au g/t|
+------+-------+-----+------+------+-----------------+----------+------+
|T0719 |  600  |     |16.50 |22.50 |      6.00       |   4.80   | 2.25 |
+------+-------+-----+------+------+-----------------+----------+------+
|T0719 |  600  |Incl.|19.50 |21.00 |      1.50       |   1.20   | 4.16 |
+------+-------+-----+------+------+-----------------+----------+------+
|T0719 |  600  |     |78.00 |85.50 |      7.50       |   6.00   | 2.05 |
+------+-------+-----+------+------+-----------------+----------+------+
|T07110|  640  |     |59.30 |60.50 |      1.20       |   1.20   | 3.36 |
+------+-------+-----+------+------+-----------------+----------+------+
|T0727 |  640  |     | 0.60 | 6.50 |      5.90       |   4.50   | 2.12 |
+------+-------+-----+------+------+-----------------+----------+------+
|T0727 |  640  |     |18.50 |24.50 |      6.00       |   4.60   | 4.43 |
+------+-------+-----+------+------+-----------------+----------+------+
|T0727 |  640  |     |57.50 |60.50 |      3.00       |   2.30   | 2.40 |
+------+-------+-----+------+------+-----------------+----------+------+
|T0727 |  640  |     |62.00 |68.00 |      6.00       |   4.60   | 3.29 |
+------+-------+-----+------+------+-----------------+----------+------+
|T07109|  680  |     |62.50 |65.50 |      3.00       |   3.00   | 3.26 |
+------+-------+-----+------+------+-----------------+----------+------+
|T0720 |  680  |     |36.50 |41.00 |      4.50       |   3.68   | 2.69 |
+------+-------+-----+------+------+-----------------+----------+------+
|T0726 |  800  |     |56.00 |62.00 |      6.00       |   4.00   | 2.24 |
+------+-------+-----+------+------+-----------------+----------+------+
|T0726 |  800  |     |66.50 |81.50 |      15.00      |  10.00   | 2.77 |
+------+-------+-----+------+------+-----------------+----------+------+
|T0726 |  800  |Incl.|77.00 |81.50 |      4.50       |   3.00   | 4.69 |
+------+-------+-----+------+------+-----------------+----------+------+
|T07112|  880  |     |37.00 |40.00 |      3.00       |   2.25   | 5.51 |
+------+-------+-----+------+------+-----------------+----------+------+
|T07112|  880  |     |79.00 |82.00 |      3.00       |   2.25   | 4.46 |
+------+-------+-----+------+------+-----------------+----------+------+
|T0703 |  920  |     |39.00 |43.50 |      4.50       |   4.00   | 3.17 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG704 |  940  |     |17.65 |22.00 |      4.35       |   3.75   | 2.98 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG704 |  940  |     |27.00 |30.00 |      3.00       |   2.65   | 3.90 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG704 |  940  |     |34.50 |37.50 |      3.00       |   2.65   | 2.23 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG704 |  940  |     |40.50 |45.00 |      4.50       |   3.80   | 2.18 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG705 |  940  |     |21.00 |25.50 |      4.50       |   3.85   | 3.11 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG705 |  940  |     |33.00 |40.50 |      7.50       |   6.38   | 2.80 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG705 |  940  |     |101.00|104.30|      3.30       |   2.81   | 3.62 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG701 |  960  |     |22.50 |27.50 |      5.00       |   4.00   | 2.00 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG703 |  960  |     |25.50 |33.00 |      7.50       |   6.00   | 2.00 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG703 |  960  |     |55.50 |63.00 |      7.50       |   6.00   | 4.83 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG709 |  960  |     | 2.00 |11.00 |      9.00       |   7.00   | 2.55 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG709 |  960  |Incl.| 2.00 | 5.00 |      3.00       |   2.33   | 2.86 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG709 |  960  |Incl.| 8.00 |11.00 |      3.00       |   2.33   | 3.74 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG702 |  980  |     | 3.00 | 7.50 |      4.50       |   3.60   | 3.85 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG702 |  980  |     |22.50 |27.00 |      4.50       |   3.60   | 2.07 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG706 |  980  |     | 9.00 |10.50 |      1.50       |   1.15   | 5.65 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG707 |  980  |     | 3.00 |15.00 |      12.00      |  10.00   | 5.13 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG708 |  980  |     |12.45 |19.00 |      6.55       |   5.02   | 3.47 |
+------+-------+-----+------+------+-----------------+----------+------+
|UG708 |  980  |     |83.00 |84.50 |      1.50       |   1.20   | 8.31 |
+------+-------+-----+------+------+-----------------+----------+------+
|T0722 |  NZ4  |     |178.50|198.00|      19.50      |  16.50   | 4.10 |
+------+-------+-----+------+------+-----------------+----------+------+
|T0732 | 1540  |     |143.50|146.50|      3.00       |   3.00   | 3.88 |
+------+-------+-----+------+------+-----------------+----------+------+

 Further information about the Company:

  Chaarat Gold Holdings Limited           [phone]
   c/o Central Asia Services Ltd          [e-mail]
                                          [e-mail]


 Westhouse Securities Limited             [phone]

 Tim Feather                              [e-mail]
 Richard Baty                             [e-mail]

 Smith's Corporate Advisory               [phone]

 Dominic Palmer-Tomkinson                 [e-mail]

 Tavistock Communications                 [phone]

 Jos Simson                               [e-mail]
 Emily Fenton                             [e-mail]



Note to Editors:

About Chaarat Gold

Chaarat  Gold is an exploration and  development company operating in the Kyrgyz
Republic.   The Company's main activity is  the development of the Kiziltash and
Tulkubash  projects situated within the Middle Tien Shan Mountains of Kyrgyzstan
which form part of the Tien Shan gold belt.  The Company has thus far delineated
a  JORC compliant  mineral resource  of 4.009 Moz  at a  grade of  4.14 g/t gold
across  both deposits.  The Company  is currently in the  process of compiling a
Pre-Feasibility  study  on  the  Kiziltash  project and a Definitive Feasibility
Study  on the Tulkubash  project.  Chaarat's objective  is to become  a low cost
gold  producer targeting  production of  over 200,000 ounces  per annum by early
2014 from the Kiziltash project with first production from the smaller Tulkubash
project in mid 2012.

www.chaarat.com


Competent Person
The Competent Person with overall responsibility for this press release, and who
has reviewed the information contained herein, is Sunit Patel M.Sc (Geology),
FGS, GSSA, who is an employee of Chaarat Gold.  Mr. Patel is an exploration
geologist with 22 years of experience in the resource industry who has
sufficient experience relevant to the style of mineralisation and type of
deposit under consideration and was supervisor to the work subject of this
release.


Disclaimer
This  press  release  includes  forward-looking statements. Such forward-looking
statements  involve known and  unknown risks, uncertainties  and other important
factors   beyond   Chaarat's  control  that  would  cause  the  actual  results,
performance  or achievements of  Chaarat to be  materially different from future
results,  performance  or  achievements  expressed  or  implied by such forward-
looking  statements.  Such  forward-looking  statements  are  based  on numerous
assumptions  regarding Chaarat's present and  future business strategies and the
environment  in which  Chaarat will  operate in  the future. Any forward-looking
statements  speak  only  as  at  the  date  of this document.  Chaarat expressly
disclaims  any obligation or undertaking to disseminate any updates or revisions
to  any forward-looking  statements contained  in this  document to  reflect any
change  in Chaarat's expectations with regard to  these or any change in events,
conditions  or circumstances on which any such statements are based. As a result
of these factors, the events described in the forward-looking statements in this
press release may not occur either partially or at all.







This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
    
Source: Chaarat Gold Holdings Ltd via Thomson Reuters ONE

[HUG#1482459]