Chaarat Gold Holdings Ltd: Issue of Share Options

Chaarat Gold Holdings Limited


                          ("Chaarat" or the "Company")


                             Issue of Share Options

Road Town, Tortola, British Virgin Islands (22 December 2011)

Chaarat (AIM - CGH), the AIM quoted exploration and development company with
assets in the Kyrgyz Republic, announces that, in accordance with the Company's
share option scheme and following approval by the Board,  the following options
were awarded to the directors of Chaarat today.


 Director                           Options granted

 Dekel Golan                                907,407

 Alex Novak                                 500,000

 Linda Naylor                               555,556

 Christopher Palmer-Tomkinson               111,111

 Rob Weinberg                               103,704



In addition to the above a further 1,494,779 options have been granted to
certain employees on the same terms.  All of the options are exercisable between
1 and 8 years from the date of grant.

Under the terms of the scheme, the exercise price of the options is calculated
at the date of grant using the 15 trading day volume weighted average share
price prior to grant.  At the date of grant the exercise price was calculated as
27p.

 For further information about the Company please contact:

 Chaarat Gold Holdings Limited       [phone]
 c/o Central Asia Services Limited
 Dekel Golan   CEO                   [e-mail]
 Linda Naylor  FD                    [e-mail]


 Westhouse Securities Limited        [phone]

 Tom Price                            [e-mail]
 Richard Baty                         [e-mail]

 Bankside Consultants                [phone]

 Simon Rothschild                     [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 Chaarat Gold
Project situated within the Middle Tien Shan Mountains of Kyrgyzstan, which form
part  of the Tien  Shan gold belt.  The Company has  delineated a JORC compliant
mineral resource of 4.736Moz at a grade of 4.28g/t gold. Chaarat's key objective
is  to  become  a  low  cost  gold  producer;  with  initial production from the
Tulkubash  project,  targeting  increased  combined  annual  production  of over
200,000 ounces as the full project comes on stream.

Further information is available at www.chaarat.com








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Source: Chaarat Gold Holdings Ltd via Thomson Reuters ONE

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