Agreement

Aurum Mining PLC
29 September 2005


For immediate release                        29 September 2005



                                AURUM MINING PLC
                           ('Aurum' or 'the Company')

 Enters into Agreement to acquire majority stake in Russian exploration project

Aurum Mining plc (AIM: AUR), the company formed last year to acquire gold and
other mineral extraction projects in the Former Soviet Union ('FSU'), is pleased
to announce that it has entered into a conditional agreement with Loyal Wealthy
Limited ('Seller') to purchase 51 per cent of the share capital in Open
Joint-Stock Company Geocentr ('Geocentr'), a Russian company that owns an
exploration licence and abandoned gold mine in the Russian Far East, for an
initial consideration of $371,000.  The agreement is conditional upon, inter
alia, the completion of satisfactory due diligence by Aurum on Geocentr.

Aurum believes that Geocentr will give the Company exposure to a significant
exploration opportunity. The acquisition of a majority stake in Geocentr is
consistent with the Company's strategy of building a portfolio of assets in the
FSU.

Geocentr's principal asset is the Igumenskoye-Klin exploration licence in the
Magdan Oblast region of the Russian Far East ('Project'). The licence, which
extends to 48 sq km, includes the abandoned Igumenov gold mine. Between 1944 and
1967 Igumenov yielded 382,000 ozs of gold at an average grade of 9.8 g/t. Aurum
believes that Igumenov may have further lower grade reserves and that it may be
possible to reopen and exploit the mine using modern techniques via a pit mining
operation.  Geocentr's current activity is limited to managing the exploration
potential of the licence area and as a result it has no significant income. It
incurred losses for the year ended 31 December of £0.2 million.

The initial consideration for the Geocentr shareholding is $371,000 which is
payable in cash. Further consideration of up to a total of $2.35 million
('Further Consideration') is payable in two stages dependent on the measured and
indicated ore reserves of gold at the Project as stated in the final feasibility
report.  At the option of the Seller, the Further Consideration may be applied
to subscribe for up to a maximum of 2,600,000 ordinary shares in the Company. If
for whatever reason the acquisition does not complete, the benefit of the
outstanding loan of $170,000 to Geocentr will be assigned from Aurum to the
Seller.

Commenting on the agreement, Sean Finlay, Aurum's Chairman, said: 'The
acquisition of a majority stake in Geocentr would bring a significant new
exploration opportunity to Aurum. The licence owned by Geocentr has the
attraction of combining a mine that may be capable of further exploitation with
a significant exploration asset. Geocentr would also provide an ideal complement
to our existing asset in the Kyrgyz Republic, which is moving closer to
production.'

For further information:

Aurum Mining plc                                            Tel: [phone]
Sean Finlay, Chairman
Mark Jones, Chief Executive

W H Ireland                                                 Tel: [phone]
Tim Cofman

Buchanan Communications                                     Tel: [phone]
Mark Court


Notes for editors

About Aurum Mining

Aurum Mining joined the AIM market of the London Stock Exchange in May 2004 with
the strategy of seeking, evaluating and acquiring gold and other mineral
extraction projects in the Former Soviet Union (FSU). In January 2005 the
Company completed its first acquisition, giving the Company an exploration
licence over a gold and copper project in the Kyrgyz Republic. In its State
Register, the State Commission of Resources of the Kyrgyz Republic has included
21.7 million tonnes of C1 and C2 reserves from the project, amounting to gold
and gold equivalent of more than 1.5 million ozs.








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