Drilling Report

Eurasia Mining PLC
03 August 2006


                                DRILLING UPDATE


Eurasia Mining plc, the AIM-quoted platinum metals exploration group, is pleased
to announce substantial progress on its drilling programmes in Russia. This
drilling forms part of Eurasia's $3 million work programmes for 2006, currently
wholly funded by the world's largest platinum producer, Anglo Platinum.

In the Kola Peninsula in north-west Russia, drilling programmes continue on
Eurasia's three projects: West Imandra, Volchetundra and Monchetundra. Each has
intersected horizons where geological conditions suggest platinum group metals
(PGMs) may be present.

In the central Urals, drilling at West Kytlim also continues to outline two
alluvial platinum resources that the company hopes to develop in 2007. Assays
from each of these areas are currently outstanding.

Eurasia Managing Director Christian Schaffalitzky said: 'We are looking forward
to the first assay results from our Kola projects which will enable us to begin
more advanced definition of their potential. In the meantime we are also looking
forward to the next set of sample results from our West Kytlim project where
additional traverses across the alluvial terraces and river channels have been
completed.'

At West Imandra in the Kola Peninsula, Eurasia has now completed drilling a
total of 2,300 metres in eight drill holes. These constitute the first drill
profile across the ultramafic intrusion comprising the core of the licenced
area. The profile is designed to locate PGM-bearing horizons in bedrock beneath
the glacial cover soils.  The first target tested a zone of PGM mineralisation,
the presence of which was suggested in at least one horizon from surface outcrop
sampling. Here a chromite layer gave an assay of 1 gram per tonne of platinum
prior to the commencement of Eurasia's drill programme. Near this location, two
drill holes intersected four chromite horizons, with associated disseminated
sulphide mineralisation. Early drill samples have been submitted for assay in St
Petersburg. The turnaround time is long, due to heavy workloads during the
summer period, but initial results are expected in the near future, with further
results arriving through to the end of the year.

Drilling work has also commenced on the other two Kola projects, Volchetundra
and Monchetundra. In both of these areas, sulphide mineralisation has been
encountered and the programmes are continuing. Eurasia plans to drill a total of
4,000 metres on the two areas during 2006.



At West Kytlim in the central Urals, three drill rigs have been working on two
areas defined for resource drilling as part of a feasibility study underway
since October 2005. Work is progressing well, with 154 holes completed in the
first six months of 2006 totaling 2,100 metres of drilling. Also bulk sample
testing is underway on trench sample material stockpiled at the end of the 2005
field season, following modifications to the wash plant aimed at improving the
recovery of fine platinum. This plant is designed to simulate the recoveries of
a full-scale operating plant being considered for the development.

In May 2006, Eurasia announced an agreement whereby Anglo Platinum is providing
funding of up to $10 million for the Kola project in return for an initial
interest of 40%. At West Kytlim, Anglo Platinum has a 50-50 joint venture with
Eurasia and is funding all the work up to the completion of a feasibility study.



For further information contact:

Christian Schaffalitzky / Michael Martineau, Eurasia Mining Plc:           [phone]

Laurie Beevers, W H Ireland:                                               [phone]

Sarah Samworth, First City Financial Public Relations:                     [phone]
                                                                           [phone]




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