Chromite Confirmed

Eurasia Mining PLC
12 November 2001

                                PRESS RELEASE

EURASIA CONFIRMS HIGH GRADE CHROMITE IN THEIR RUSSIAN ALLUVIALS PROJECT AND
INITIATES FEASIBILITY STUDIES


First results from the processing of bulk pit samples from the Martian River
on the Vissim licence area has successfully recovered high-grade chromite from
the alluvial tailings. The clean concentrates produced from two tests graded
50 and52% chromium oxide which is at the higher end of the range required for
the production of ferrochrome. The production of a clean saleable product is
key to the success of the project.


Russia is a major importer of chromite for the production of ferrochrome. The
majority of ferrochrome production plants are located in the Urals within easy
transport distance from the Vissim site. In addition the processing indicated
an economic concentration of platinum


Results from bulk pit DT 4 are:


Raw concentrate       Clean concentrate     Grade
+ 25% impurities      recovery

158 kg/m3             61.4%                 97kg/m3 @ 52% chromium oxide
41% chromium oxide                          295 mg/m3 Pt


Further metallurgical recovery testing to determine the optimum processing
methods for chromite and platinum recovery for an initial 30,000 cubic metre
per month plant will be undertaken during the winter. Conversion of the
current exploration licence to a comprehensive licence to permit mining will
be required as part of the winter feasibility work. This will proceed in
parallel with marketing studies.


Drilling at Vissim which began in early October is targeting four specific
locations along 8 kilometres of the Martian River that would be suitable for a
starter operation. The 18 holes completed to date indicate a 'payzone'
thickness averaging about 4.5metres but ranging up to 7 metres and widths from
200 to over 500 metres beneath a thin cover of barren cobbles. The samples
confirm the presence of chromite at all locations the accurate recoverable
content of which will be determined by physical processing, weighing and
assaying. Recoverable platinum values are being determined at the same time.
The drilling will provide data on both the volume and the platinum and
chromite contents of the tailings as well as providing the samples for
metallurgical testing.


Alluvial operations have particularly low operating costs largely dependent on
the volume treated. For this reason, alluvial operations report grades in
terms of milligrammes per cubic metre of precious metals and kilogrammes per
cubic metre for industrial minerals like chromite. At this stage both the
volumes and the grades on the Martian River appear to be more than adequate to
support a full-scale commercial operation. Based on comparable operations and
the indicated simple processing route required to recover the chromite and
platinum, Eurasia is targeting operating costs below US$1.50 per cubic metre.


The currently indicated value per cubic metre of the recovered chromite and
platinum at current product prices indicates the potential for a rapid payback
even at the pilot scale. Eurasia is therefore initiating feasibility studies
during which the capital, operating, marketing and environmental parameters of
both the pilot plant and of a larger scale production plant with a capacity of
up to 1,000,000 cubic metres per annum will be investigated.


Dr Martineau, Executive Deputy Chairman, said, 'The potential for high volume,
simple processing and high product quality demonstrated by our initial studies
of the Vissim project alluvials are extremely encouraging.  If current
progress is maintained and approvals forthcoming in a timely manner we can
look forward to Eurasia's first operation at this site.'