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Oxus Mining Plc (OXS)

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Wednesday 02 April, 2003

Oxus Mining Plc

Further re Financing

Oxus Mining Plc
02 April 2003

                       OXUS SIGNS US$36M CREDIT AGREEMENT

                             FOR AMANTAYTAU PROJECT

Oxus Mining plc (OXS.L) is pleased to announce that on 2 April 2003 Oxus
Resources Corporation ('Oxus') and Amantaytau Goldfields ('AGF') signed a credit
agreement with Standard Bank London Limited and WestLB AG, amongst others, for a
US$36 million project finance facility to finance the construction of Amantaytau
Goldfields Phase 1 (oxides) Project in Uzbekistan.  The facility consists of a
US$30 million term loan plus a cost overrun facility of US$6 million.

Drawdown of these funds, anticipated within the first half of April 2003, is
subject to the satisfaction of final conditions precedent, which Oxus is
confident will be met within this time.  Oxus is not required to provide any
further funding by way of equity or subordinated debt.

Contracts for the construction and mining of the Project have been awarded, and
the pre-production capital cost of the Project is set at US$29.9 million,
including financing costs, pre-production interest, contingency and working

It is estimated that the first gold pour will take place before the end of 2003.

2 April 2003


Oxus Mining plc Tel:                     +44 (0) 1483 714411
John Donald, COO                         Email:

Brown Shipley Corporate Finance          Tel: +44 (0) 20 7606 9833
Bill Staple

     Further information can be obtained by visiting the Company's website:


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