Interim Results

Aurum Mining PLC
20 December 2006



For Immediate Release                                         20th December 2006  
                                AURUM MINING PLC
                           ('Aurum' or 'the Company')

        Interim Results for the six month period ended 30 September 2006

Aurum Mining plc (AIM: AUR), the company formed to acquire gold and other
mineral extraction projects in the Former Soviet Union (FSU) and whose principal
asset is the Andash project in the Kyrgyz Republic, is pleased to announce its
interim results for the six months ended 30 September 2006.

Highlights in the year to date

   •Award of Mining Licence from the Kyrgyz authorities for Andash Zone 1


   •Completion of fully bankable feasibility study for Andash open cast mine,
    with initial production expected in 2008, showing:


    • Measured and indicated resource base increased to 19.2 million tons at
      1.1g/t gold and 0.4% copper

    • Additional low grade measured and indicated resource of 5.74 million
      tonnes at 0.44g/t and 0.15 % copper

    • Proven and probable reserve of 16 million tonnes, containing over
      1.2 million ozs of Gold and Gold equivalent in copper giving an
      in-ground value of over $750m

    • Mining rate of 2m tpa with a pit life of 8.5 years

    • Stripping ratio of 0.8 tonnes of waste to 1 tonne of ore

    • Average cash operating costs of $223 per oz of gold and gold equivalent
                        
    • Capital cost of $55.5 million including contingencies
                            
    • Payback period of 3.3 years and an IRR of 39.7%,
                                
    • New opportunities identified at the Tokhtonysay and Nakhodka exploration
      targets within the Andash licence area

    • Net loss of £702,000 (H1 2005: net loss of £389,000)

Sean Finlay, Aurum Mining's Chairman, said: 'We have made tremendous progress in
the year to date and approach the New Year with a 1.2 million ozs reserve, a
Mining Licence and a bankable feasibility study for just one of the zones in our
Andash exploration area. We look forward to arranging project finance for our
planned open cast operation at Andash Zone 1 and are also excited by the
potential of our other exploration areas.

'We expect to begin our first gold and copper production in 2008 and are now,
therefore, on the threshold of making the transition from a junior explorer to a
producer with the many benefits, including cash generation, that it will bring.'

For further information:

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

Arbuthnot Securities                                Tel: [phone]
Graham Swindells
John Toll

Buchanan Communications                             Tel: [phone]
Mark Court / Rebecca Skye Dietrich


Notes to 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 the Andash gold and copper project in the Kyrgyz Republic. Mining
consultant Wardell Armstrong International has confirmed a JORC resource
estimate of 1.49 million ozs of gold and gold equivalent in Andash Zone 1 in
Measured and Indicated categories. A Mining Licence for the Andash area was
awarded by the Kyrgyz authorities in November 2006. The feasibility study for
Zone 1 is scheduled for completion by the end of this year, allowing production
to begin in 2008. The Andash project also includes the Zone 2 and Zone 3 along
with Tokhtonysay, Nakhodka and three other additional exploration areas.


CHAIRMAN'S STATEMENT

I am pleased to announce the interim results for the six month period ended 30
September 2006. It was another period of significant progress at Aurum
particularly in terms of the development of Andash Zone 1, the most advanced
exploration zone in our Andash licence area in the Kyrgyz Republic. I am also
pleased to report that this progress has continued strongly post the period end,
putting the Company into the most exciting period of its development so far.

During the period, and as announced on 5 September 2006, the JORC resource
estimate at Andash Zone 1 was upgraded following an infill drilling programme
and analysis of the results by Wardell Armstrong International (WAI), a leading
UK mining consultant with specific expertise in the FSU.

As a result of the drilling programme WAI upgraded the JORC resource estimate,
to a Measured and Indicated resource of 17.1 million tonnes, with a further
200,000 tonnes in the inferred category.

Our primary focus in the year to date has been preparing for the start of
production in 2008 and I am pleased to report that we have made very substantial
progress. We were awarded a Mining Licence for Andash in November, which
underlines the willingness of the Kyrgyz authorities to work with the Company.
We have also announced the successful completion of the bankable feasibility
study for the project financing and construction of the proposed mine. The
feasibility study was compiled by WAI in association with engineering
consultants GBM and ground engineering and environmental services group, Golder
Associates. The study also takes into account the local feasibility study
prepared earlier this year by Ken-Too Design and Research Centre, the leading
Kyrgyz mining consultancy.

The bankable feasibility study has allowed us to increase our JORC resource to
19.2 million tonnes, with an additional low grade resource of 5.74 million
tonnes. It has also defined a proven and probable mining reserve of 16 million
tonnes containing over 1.2 million ozs of Gold and Gold equivalent in copper
giving an in-ground value of over $750m.

Pit design allows us to mine at a rate of 2 million tonnes per annum, giving a
pit life of 8.5 years. The pit has a very low stripping ratio of 0.8 tonnes of
waste to 1 tonne of ore, allowing us to mine at a cash cost of $223 per oz of
gold and gold equivalent. With a capital cost of $55.5 million including
contingencies, the project payback is 3.3 years with an IRR of 39.7%

As detailed in our preliminary results statement on 26 September 2006, our
strategy is to begin production at the earliest opportunity at Zone 1, this
study coupled with the mining licence allows us to feel bullish about commencing
production on target in 2008.

Aurum takes great pride in its strategic intent of mining responsibly, and we
have continued our proactive interaction with local community groups and
progressed all aspects of the environmental study.


While Zone 1 is our primary focus, owing to its ability to generate near-term
cashflow, I am delighted to report that we have also made progress with the
other exploration zones within the Andash licence area. Of particular note are
Tokhtonysay, where a recent geophysical study revealed highly promising results,
which were announced on 16 November 2006, and Nakhodka, where recent geological
mapping suggests a possible faulted extension of Zone 1. We intend to commence
drilling programmes at these new prospects during the New Year to establish a
resource base at the earliest opportunity.

Tokhtonysay and Nakhodka both have the advantage of being in close proximity to
the proposed mine at Zone 1, hence offering the potential to extend mine life
and production rates when mining begins.

People
I was delighted to welcome Chris Eadie to the newly created position of Chief
Financial Officer, as announced on 17 November 2006. Chris, who has also joined
Aurum's Board, is a Chartered Accountant who qualified with
PricewaterhouseCoopers and whose broad financial experience will be of great
value to Aurum in the future.

Financials
The net loss in the six months to 30 September 2006 was £702,000, compared with
a net loss of £389,000 in the first half of 2005. The major reason for this
increased 'year on year' financial loss is the significant additional
expenditure incurred in completing the Bankable Feasibility Study for Andash
Zone 1.

The basic and diluted loss per share was 5.99p (H1 2005: loss of 4.09p).

Outlook
We have made tremendous progress in the year to date and approach the New Year
with a 1.2 million oz reserve, a Mining Licence and a bankable feasibility study
for just one of the zones in our Andash exploration area. We look forward to
arranging project finance for our planned open cast operation at Andash Zone 1
and are also excited by the potential of our other exploration areas.

We expect to begin our first gold and copper production in 2008 and are now,
therefore, on the threshold of making the transition from a junior explorer to a
producer with the many benefits, including cash generation that it will bring.
We look forward to the future with both confidence and excitement.

Sean Finlay
Chairman
19th December 2006



Consolidated Profit and Loss Account

For the six months ended 30 September 2006 (unaudited)

                        Notes    6 months ended  6 months ended  12 months to 31
                                   30 September    30 September       March 2006
                                           2006            2005        (audited)
                                    (unaudited)      (unaudited)
                                         £000            £000             £000

Administrative expenses- exceptional
items                                       -               -             (252)
Administrative expenses-other            (645)           (397)          (1,006)
 --------------------- --------       ---------       ---------         --------

Total
administrative expenses and
operating loss                           (645)           (397)          (1,258)
---------------------  --------       ---------       ---------         --------

Net interest receivable and
similar income                             24               8               21

Interest payable and similar              (81)              -              (14)

Loss on ordinary activities
before taxation                          (702)           (389)          (1,251)

Tax on loss on ordinary
activities                  2               -               -                -
 --------------------- --------       ---------       ---------         --------
Loss on ordinary activities
after taxation                           (702)           (389)          (1,251)
---------------------  --------       ---------       ---------         --------
--------------------- --------        ---------       ---------         --------
Retained loss                            (702)           (389)          (1,251)
 --------------------- --------       ---------       ---------         --------
Loss per share- basic
and diluted                 4           (5.99)p         (4.09)p         (13.16p)
 --------------------- --------       ---------       ---------         --------

All amounts relate to continuing activities.
All recognised gains and losses are included in the profit and loss account.



Consolidated Balance Sheet

As at 30 September 2006 (unaudited)

                                   6 months ended 6 months ended 12 months to 31
                                     30 September   30 September      March 2006
                                             2006           2005     (audited)
                                       (unaudited)    (unaudited)
                                             £000           £000            £000

Fixed Assets
Intangible
fixed assets                              1,946            986           1,305
Tangible
assets                                      257            277             263
Investments
other                                        55              -               -
Investments in subsidiary                     -              -               -
undertakings

---------------------                   ---------      ---------        --------
Total Fixed
Assets                                    2,258          1,263           1,568
---------------------                   ---------      ---------        --------

Current Assets
Stocks                                       56              9              11
Debtors: amounts falling due
within one
year                                        216            289              85

Cash at bank
and in hand                               1,034            127             321

Creditors: amounts falling due
within one year                            (288)          (141)           (339)
---------------------                   ---------      ---------        --------
Net current assets                        1,018            284              78
---------------------                   ---------      ---------        --------

Convertible
loan notes                                 (643)             -            (643)
---------------------                   ---------      ---------        --------
Net Assets                                2,633          1,547           1,003
---------------------                   ---------      ---------        --------

Capital and reserves
Called up
share capital                               124             95              95
Other reserve                               304              -             304
Share premium                             4,062          1,687           1,687
Merger Reserve                              498            498             498
Profit and
loss account                             (2,355)          (733)         (1,581)
---------------------                   ---------      ---------        --------
Shareholders'
fund                                      2,633          1,547           1,003
---------------------                   ---------      ---------        --------


Consolidated cash flow statement

For the 6 months ended 30 September 2006 (unaudited)

                                  6 months ended 6 months ended 12 months to 31
                                    30 September   30 September      March 2006
                                            2006           2005        (audited)
                                     (unaudited)     (unaudited)
                                           £000            £000            £000

Net cash
outflow from
operating
activities                                 (915)          (562)            (953)
---------------------                   ---------      ---------        --------

Returns on investments and
servicing of finance
Interest
received and
similar income                               24              8              21
Interest paid                               (81)                           (14)
---------------------                   ---------      ---------        --------
Net cash
(outflow)
inflow from
returns on
investments
and servicing
of finance                                  (57)             8               7
---------------------                   ---------      ---------        --------

Capital expenditure and financial
investment 
Payments to acquire investments             (55)             -               -
Purchase of tangible fixed assets           (23)           (96)           (138)
Deferred exploration expenditure           (640)          (167)           (486)
---------------------                   ---------      ---------        --------
---------------------                   ---------      ---------        --------
Net cash outflow from capital
expenditure and financial investment       (718)          (263)           (624)
---------------------                   ---------      ---------        --------
Cash outflow before management of
liquid resources and financing            (1,690)          (817)         (1,570)
---------------------                   ---------      ---------        --------

Financing
Issue of
ordinary
shares (net of
issued costs)                             2,403              -               -
Issue of
convertible
loan note (net
of issued
costs)                                                       -             947
---------------------                   ---------      ---------        --------
Net cash
inflow from
financing                                 2,403              -             947
---------------------                   ---------      ---------        --------
---------------------                   ---------      ---------        --------
Increase/(Decr
ease) in cash                               713           (817)           (623)
---------------------                   ---------      ---------        --------
---------------------                   ---------      ---------        --------



Notes to the Interim Report


1. Basis of preparation

The interim accounts for the six months ended 30 September 2006 are unaudited
and do not constitute statutory accounts in accordance with section 240 of the
Companies Act 1985.

The financial statements have been prepared in accordance with currently
applicable Accounting Standards in the United Kingdom, which have been applied
consistently, and under the historical cost convention.

Accounting policies consistent with those applied in the financial statements
for the year ended 31 March 2006 have been used in preparing the unaudited
interim financial statements for the 6 months ended 30 September 2006.

2. Taxation

There is no tax charge for the period due to the loss arising.

3. Dividends

The Directors are not declaring a dividend for the six months ended 30 September
2006.

4. Loss per ordinary share

The calculation of basic and diluted loss per share of 5.99 pence is based on
the loss for the period of £702,000 and on 11,714,991 ordinary shares, being the
weighted average number of ordinary shares in issue during the period ended 30
September 2006.
The effect of all potential ordinary shares is antidilutive and therefore
diluted EPS is the same as basic EPS.

5. COPIES OF INTERIM RESULTS

Copies of the interim results will be sent to shareholders and will be available
from the company's registered office, 26 Curzon Street, London W1J 7TQ





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