Interim Results

Eurasia Mining PLC
30 July 2003


for immediate release


                               Eurasia Mining plc

                               Interim Statement

Your Company has made considerable progress in strengthening its minerals
operations in Russia during the first half of 2003. This is part of the major
build-up of Russian activities that we announced last year, and we believe the
fruits of this work will start to become visible in the months ahead.



Russia



In January 2003 we announced that the Company had entered into a heads of
agreement to develop the Ametistovoye gold project in Eastern Russia. As
described in our Annual Report, this project has an underground resource of 1.4
million ounces of gold, according to Russian estimates. We have now completed
our own first stage detailed assessment of the reserve in place and have
identified a resource of approximately 800,000 ounces mineable by open pit
methods which we believe will optimise the return on investment. As a result, we
have made a new proposal to the owners for the development.  Exploration work
planned for the Kumroch project, some 650 km to the south west of Ametistovoye,
will await our decision on the Ametisitovoye development itself.



In early summer, field work commenced on our West Kytlim licence which forms
part of the Urals Alluvials programme, currently funded by Anglo Platinum.
Preliminary results are encouraging.



Samples from our initial pits south of the historic mining area in the Malaya
Kosva River, designed to investigate inferred and previously unmined channel
alluvials, have identified grades comparable with production grades recorded
from nearby dredging, which we believe are within economic limits. The possible
extension to these channels, defined in exploration pitting conducted during a
Russian programme in the 1960Os some 600m upstream from EurasiaOs sampling,
provide an encouraging start in the task of defining a substantial deposit.
Although the need for new environmental permits has caused the suspension of
some field activities, we expect to resume work shortly.



We have also recently announced that a wide-spaced reconnaissance soil
geochemical survey, conducted on the Baranchinsky License Area in the Urals, has
located several strong platinum in-soil geochemical anomalies over substantial
widths, with spot values to 2.1 grammes per tonne (gm/t) of Platinum and, from a
separate sample, 3 gm/t of gold.  Dimensions of the anomalous areas remain open
due to the broad spacing of this first survey. The next stage of our work will
include step-out geochemical traversing to define the lateral extent and pit
sampling to reach the bedrock where the in-situ grade may be determined, as a
preliminary for drilling planned for later in the year. The implication of the
initial sampling is that we may have discovered a stratiform platinum reef or
reefs. Such a target would have important economic implications and justifies an
immediate test.



In a new development also related to platinum, the Company is in an advanced
stage of negotiations on a new platinum project in western Russia. This
opportunity is also a hard rock project with several stratiform reef targets.
Licences have been issued and the commercial agreements are being finalised. We
will announce the details of these projects when the agreements have been
finalised.



South Africa



Recent changes to the legal framework for the mining industry in South Africa
are presenting new challenges over the issues of royalties and Black
Empowerment. But for new arrivals such as Eurasia these issues may be less
critical as allowances can be built into project development plans. Planned
drilling on our Kliprivier licence will commence as soon as we receive renewal
permits applied for last February.  In the meantime, we continue to look at ways
to realise and add value to our South African portfolio, while continuing our
expansion in Russia.





Outlook



RussiaOs mining sector is now attracting growing investment interest from both
local and foreign companies, with precious metals being the favoured
commodities. Many projects are in development with indications of excellent
rates of return and a considerable following in both UK and Canada. Eurasia
continues to review and assess Russian opportunities for existing or near term
production in both gold and platinum which will anchor the CompanyOs development
going forward in Russia. This takes considerable time and technical effort but
we are confident that the rigorous and patient approach which we have adopted
will produce the most satisfactory result for shareholders.





John Mitchell

Chairman





30 July 2003




Consolidated Balance Sheet

As at 30 June 2003




                                                                   30 June    31 December
                                                                                     2002
                                                                      2003
                                                                                (audited)
                                                               (unaudited)
                                                                                        £
                                                                         £
Fixed assets
Tangible - Exploration, development and production               2,822,288      2,583,316
interests
Tangible - Other                                                   109,542        110,740
Investments                                                          1,201          1,231
Total fixed assets                                               2,933,031      2,695,287

Current assets

Debtors                                                             64,256        147,866
Cash at bank                                                        62,400         74,786
Total current assets                                               126,656        222,652
Creditors - amounts falling due within one year
(including convertible loan stock)                               (490,676)      (531,820)

Net current liabilities
                                                                 (364,020)       309,168)

Total assets less current liabilities                            2,569,011      2,386,119


Creditors - amounts falling due after more than one year          (97,243)       (99,675)
                                                                  

Net assets                                                       2,471,768      2,286,444


Capital and reserves

Called-up share capital                                          2,776,133      2,338,575
Share premium account                                            6,858,767      6,826,671
Capital redemption reserve                                       3,539,906      3,539,906
Profit and loss account                                       (10,699,493)   (10,418,862)
Equity shareholdersO funds                                      2, 475,313      2,286,290
Minority interest                                                  (3,545)            154
                                                                 2,471,768      2,286,444  

                                                                 



Notes:

1    No dividend is proposed to be paid in respect of the period.

2    The results for the period are all derived from continuing activities.

3    The calculations of loss per share have been based on the retained loss
after taxation for the period and on a weighted average of 51,635,423 ordinary
shares in issue during the period.

4    The unaudited results have been prepared on a going concern basis and on
the basis of the accounting policies adopted in the audited accounts for the
year ended 31 December 2002.

5    The interim report is unaudited and does not constitute Statutory Accounts
as defined in section 240 of the Companies Act 1985.  A copy of the GroupOs 2002
Statutory Accounts has been filed with the Registrar of Companies.  The
auditors' opinion on these Statutory Accounts was unqualified, but drew
attention to the fundamental uncertainty as to the adequacy and availability of
funding to the Group.

6    The Interim Report for the six months to 30 June 2003 was approved by the
Directors on 30 July 2003.


Consolidated Profit and Loss Account

For the six month period ended 30 June 2003
                                               6 month period   6 month period   12 month period
                                                   to 30 June       to 30 June    to 31 December

                                                         2003             2002              2002

                                                  (unaudited)      (unaudited)         (audited)

                                                            £                £                 £
Administrative expenses                             (243,841)        (170,884)         (350,223)
Impairment of assets                                        -                -         (667,760)
Total administrative expenses                       (243,841)        (170,884)       (1,017,983)
Loss from continuing activities before              (243,841)        (170,884)       (1,017,963)
interest
Interest receivable & similar items                       222            1,601             2,444
Interest payable & similar items                            -                -              (51)
Foreign exchange loss                               (133,997)        (158,161)         (510,774)
Loss on ordinary activities before taxation         (377,616)        (327,444)       (1,526,364)

Taxation                                                    -                -                 -
Loss on ordinary  activities after taxation         (377,616)        (327,444)       (1,526,364)
Minority interest                                       3,741            7,542            16,281
Retained loss for the period                        (373,875)        (319,902)       (1,510,083)
Loss per share                                        (0.72)p         (0.87) p           (3.82)p







Consolidated statement of total recognised gains and losses

For the six month period ended 30 June 2003

                                                            6 month period to 12 month period to
                                                                 30 June 2003   31 December 2002

                                                                  (unaudited)          (audited)

                                                                            £                  £
Loss for the period                                                 (373,875)        (1,510,083)
Exchange adjustments on foreign currency net investments               93,244            328,582
Total recognised gains and losses for the financial year            (280,631)        (1,181,501)






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