New Urals acreage

Eurasia Mining PLC
20 January 2003




Eurasia Mining Plc has secured new acreage to explore for alluvial platinum in
the Urals platinum province of Russia. It lies within an area from which an
estimated 50 tonnes of platinum have already been commercially recovered.

The new 251 square-kilometre West Kytlim licence is situated 470 km north of
Ekaterinburg. It covers the junction of the Tylai and Kosva rivers as well as a
number of tributary streams which directly drain the platinum-bearing Kosvinsky
Kamen complex in the west of the Kytlim Platinum District. The licence
conditions also provide for exploration for hardrock platinum.

Eurasia Managing Director Christian Schaffalitzky said: 'We have always regarded
West Kytlim as the prime target for the initiation of our planned production of
alluvial platinum in the Urals. The award of this licence comes as a result of
the excellent research and negotiations carried out by our team in Russia over a
protracted period. We are delighted to have secured the licence.'

Mr Schaffalitzky added: 'Although the licence lies within an existing platinum
producing province, a substantial portion of the West Kytlim area has never been
mined.'

The project will be operated as a joint programme between Eurasia and Anglo
Platinum, the world's largest platinum producer.  Anglo Platinum will be funding
100% of costs through to the completion of feasibility studies. Anglo Platinum
has recently approved continuation of funding for the joint programme, including
the West Kytlim work which has already commenced.

The licence will be held by ZAO 'Kosvinsky Kamen', a Russian company of which a
wholly-owned Eurasia subsidiary, EMS, controls 75%. The minority shareholder,
Artel 'Yuzhno-Zaozersky Priisk', is a successful Russian mining company
currently producing platinum from the East Kytlim district. It will assist in
the provision of facilities and equipment for mining operations at West Kytlim.


Targets already identified include:


•   Large un-mined river terraces adjacent to channels that have yielded
    4-7 kg of platinum concentrate per day from dredging.

•   Large depressions in limestone, considered likely traps for
    platinum minerals.

•   Dredge tailings within the Tylai and Kosva rivers (with a combined
    extent in excess of 17 kilometres) that were mined between 1952 and 1985.

•   Steeper terrain targets in close proximity to dunitic host rocks,
    inaccessible to previous dredge based operations.

Eurasia hopes to exploit commercial deposits using conventional dry mining
methods that will allow rapid development at minimal cost.


For further information contact:

Christian Schaffalitzky, Managing Director, 
Eurasia Mining plc:                                       [phone]

Allan Piper, First City Financial Public Relations:       [phone]
                                                          [phone]

Laurie Beevers, WH Ireland:                               [phone]


                      This information is provided by RNS
            The company news service from the London Stock Exchange