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Oxus Mining Plc (OXS)

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Friday 23 November, 2001

Oxus Mining Plc

Issuing of Shares

Oxus Mining Plc
23 November 2001

                               Oxus Mining plc

                           ('Oxus Mining' or 'Oxus')

                              Issuing of Shares

Oxus is pleased to announce that it has today issued 6.6 million new ordinary
shares of 1p each in Oxus with MAED Holdings Ltd at a price of 8.5 pence per
share (equivalent to the middle market price of Oxus's ordinary shares as at
the close of business on 19 November 2001, as derived from the London Stock
Exchange Daily Official List).

The issue has raise £561,000 for Oxus before expenses.  These funds will
primarily be used to carry out exploration work around the Balpantau and
Aristantau deposits close to its Amantaytau Goldfields project in Uzbekistan,
the exploration rights to which were acquired by Oxus in July 2001.

Following the placing, MAED holds a total of 6.6 million ordinary shares in
Oxus representing 5.0 % of its issued share capital as enlarged by the
placing.  MAED is a specialist mining construction company that has a number
of investments in the international gold mining industry.

                                                              23 November 2001


Oxus Mining                                             Tel: +44 (0)1483 714411
Roger Tuner, CEO
Michael de Villiers, Finance Director

Old Mutual Securities                                 Tel: +44 (0) 20 7002 4618
Frank Moxon, Director

College Hill                                           Tel: +44 (0)20 7457 2020
Archie Berens
Kate Aquila