Exercise of Options

Eurasia Mining PLC
26 February 2001



                               PRESS RELEASE

               EURASIA MINING PLC £215,000 SHARE SUBSCRIPTION


Eurasia Mining PLC ('the Company') announces the exercise of share options ('A
' Options), aggregating £215,000 in value, which were required to be exercised
by 23 February 2001. The funds subscribed will be used for the Company's
operations, including its exploration activity, during the course of the
current year.

These share options have been exercised by existing shareholders, including
directors and management, as follows:
               
                                                                  No. of shares

Mr WB Anderson (General Manager - Operations)                           200,000
Mr AH Counsell (Director)                                               425,000
Framlington Russian Investment Fund                                     625,000
Mr RB Rowan                                                             900,000

Total                                                                 2,150,000


The above 'A' Options were exercised at 10 pence per share and in accordance
with their terms, the holders thereof are now entitled to receive one further
'B' Option for each 'A' Option exercised. The 'B' Options are exercisable at
15 pence per share and are required to be exercised within two years from the
date of issue.

Following the exercise of the 'A' Options, the issued share capital of the
Company has increased to 30,088,838 Ordinary shares of 5 pence each and the
reportable interests of the above shareholders in the share capital of the
Company are as follows:


                                      No. of Ordinary  shares of 5p each      %

Mr AH Counsell                                                   821,667   2.73
Framlington Russian Investment Fund                            8,948,812  29.74
Mr RB Rowan                                                    4,119,000  13.69


Application for the trading of these shares on the Alternative Investment
Market has been made.  Trading is due to commence on 2 March 2001.


                                                              26 February 2001


Listing:     Alternative Investment Market, London Stock Exchange

Code:        EUA

Web Site:    www.eurasia-mining.plc.uk

Email:       [e-mail]


For further information please contact:

Michael Martineau - Executive Deputy Chairman        Tel: + 44 20 7976 1222

John Molyneux - WH Ireland                           Tel: + 44 20 7648 5224