Interim Results - As at 30 June 1999

EURASIA MINING PLC
28 October 1999

INTERIM REPORT 1999

Consolidated Balance Sheet
As at 30 June 1999

                                             30 June      31 December
                                                1999             1998
                                         (unaudited)        (audited)
                                                  £                £

Fixed assets
Intangible - Exploration, development
and production interests                   1,649,706       1,649,706
Tangible - Exploration, development
and production interests                   3,592,406       3,440,535
Tangible - Other                             373,562         296,468
Investments                                   63,360          59,878
Total fixed assets                         5,679,034       5,446,587

Current assets
Debtors                                      193,498         183,576
Cash at bank                                 112,212          50,036
Total current assets                         305,710         233,612

Creditors - amounts falling due within
one year
Other Creditors                              273,837         408,969
Convertible Loan Stock                     2,523,150       2,571,787
Accruals                                     206,977         214,228
                                           3,003,964       3,194,984

Net current liabilities                   (2,698,254)     (2,961,372)

Total assets less current liabilities      2,980,780       2,485,215

Capital and reserves
Called-up share capital                    4,068,647       3,726,217
Share premium                              3,090,670       2,779,917
Reserves                                  (4,199,998)     (4,021,182)
Shareholders' funds                        2,959,319       2,484,952

Minority interests                            21,461             263

Equity Shareholders' funds                 2,980,780       2,485,215

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 calculation of loss per share has been based on the retained loss after
   taxation for the period on a weighted average of 7,934,887 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 1998.
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 Group's 1998
   Statutory Accounts has been filed with the Registrar of Companies.  The 
   auditor's opinion on these Statutory Accounts was unqualified, but drew 
   attention to the fundamental uncertainty as to the adequacy and availability
   of the Group's funding and ability to continue as a going concern.
6. The Interim Report for the six months to 30 June 1999 was approved by the 
   Directors on 27 October 1999.


Chairman's Statement

Progress towards platinum and palladium production during a period of
increasing confidence.

Eurasia has achieved significant progress in its key and priority Platinum
Group Metals ('PGM') projects during the current year.

In August the Company signed a joint venture agreement with Anglo American
Platinum Corporation Ltd ('Amplats'), the world's largest platinum producer.
The focus of this agreement is the further evaluation of the alluvials and
tailings opportunities in the rich Urals Platinum Belt.  Amplats commitment is
indicative of the scale of the potential which Amplats sees in this region.
This alliance brings the considerable strength and technical expertise of
Amplats to further develop the Company's activities in the Urals.  Fieldwork on
platinum tailings and alluvials is underway and initial data collation and
exploration work is showing encouraging signs.

Assessment and exploration work is also continuing at the Company's hard rock
PGM projects.  Assay work at the Soloviev Hill platinum project and at the
Baronskoye palladium-gold project have shown some excellent results.  At
Baronskoye resource definition drilling is planned for this winter with the
target of small scale open cut mine being in production by year end 2000.  This
mine is anticipated to initially produce 20,000oz pa palladium rising
thereafter to a 100,000oz pa low cost long life mining operation.

The World market outlook for platinum and palladium appears increasingly
encouraging.  The anticipated increasing industrial demand for platinum,
particularly from the automobile and computer manufacturing industries, for
example, has led to an increase in the metal price from $360 per oz at the start
of the year to a present day market fix of $430 per oz.  Palladium has similarly
risen from $330 per oz to $390 per oz during the same period.

Eurasia is committed to developing its high potential PGM projects, but also
retains its interests in a number of prospective gold properties.  With the
recent significant upward movement in the price of gold, it may be appropriate
in due course to consider developing Eurasia's gold assets.  This is subject to
the priority given to Eurasia's PGM projects and the availability of the
necessary finance.

An improving market for precious metals has rekindled interest in this sector of
the mining industry.  Your Board retains its confidence in the significant value
of the Company's assets and is working actively on plans to fund and build on
these.


J A Mitchell
Chairman            27 October 1999



Consolidated Profit and Loss Account
For the six month period ended 30 June 1999

                   6 Month period  6 month period   12 month period
                       to 30 June      to 30 June    to 31 December
                              1999        1998       1998
                        (unaudited)  (unaudited)  (audited)
                                 £            £          £
Administrative expenses   (317,364)    (470,330)  (764,408)

Other operating income            -           -     35,088

Loss from continuing 
 activities
 before Interest          (317,364)   (470,330)  (729,320)
Interest receivable &        
 similar items                 799       5,130      5,719

Interest payable            (1,796)     (1,182)    (2,364)

Foreign Exchange          
 Gain/(Loss)               201,661    (104,474)  (620,629)

Loss from continuing 
 activities
 before taxation          (116,700)   (570,856) (1,346,594)

Taxation                         -           -           -

Loss on continuing       
 activities after 
 taxation                 (116,700)   (570,856) (1,346,594)

Minority Interests - equity    652           -           -
Retained loss for       
 the period               (116,048)   (570,856) (1,346,594)
Loss per share              (1.46p)    (15.32p)    (36.14p)


Consolidated statement of total recognised gains and losses
For the six month period ended 30 June, 1999

                            6 month period     12 month period
                                to 30 June     to 31 December
                                      1999               1998
                               (unaudited)           (audited)
                                        £                   £
 Loss for the period             (116,048)         (1,346,594)
 Exchange adjustments on         
  foreign currency net 
  investments                     (62,768)            395,134
 Total recognised gains and     
  losses for the financial year  (178,816)           (951,460)


Directors
J A Mitchell                       (Non executive Chairman)
A H Counsell                       (Managing Director)
R J G Jenkins,                     (Finance Director)
G C FitzGerald                     (Non executive Director)
M V St Giles                       (Non executive Director)

Secretary
R J G Jenkins

Head Office and Registered Office
14-16 Regent Sheet
London SW1Y 4PH
Telephone    [phone]
Facsimile    44 (0)171 976 1422
Email    [e-mail]
Web Site www.eurasia-mining.plc.uk

Russian office
194 Lunacharsky Street
Ekaterinburg, Russia
Telephone [phone]
Facsimile 7 3432-615924

ADVISERS
Auditors
KPMG Audit Plc
8 Salisbury Square
London EC4Y 8BB

Solicitors
Forsters
67 Grosvenor Street
London W1X 9DB

Bankers
National Westminster Bank plc
1 Princes Street
London EC2R 8PB

Stockbrokers
T Hoare Canaccord
Cannon Bridge
25 Dowgate Hill
London EC4R 2YA

Hoodless Brennan & Partners
40 Marsh Wall
Docklands
London E14 9TP

Nominated Adviser
Grant Thornton
Grant Thornton House
22 Melton Street, Euston Square
London NW1 2EP