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Oxus Gold PLC (OXS)

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Thursday 29 June, 2006

Oxus Gold PLC

Termination of agreement

Oxus Gold PLC
29 June 2006

News Release

                                 Oxus Gold plc

                  Acquisition of assets from Eurogold Limited

London: 29 June 2006 - Oxus Gold plc ('Oxus') (OXS.L), regrets to announce that
it has been forced to terminate the agreement (the 'Agreement') which it entered
into with Eurogold Limited ('Eurogold') to acquire, amongst other things, all
the shares in Eurogold (Bermuda) Limited (a subsidiary of Eurogold). Oxus
believes that a material adverse change has occurred to the business and assets
of Eurogold (Bermuda) Limited from what it understood to be the case when it
entered into the Agreement, and it has to date been unable to reach a
satisfactory arrangement with Eurogold to continue on revised terms.

For further information, please contact:

Oxus Gold plc

Richard Wilkins, Company Secretary
Tel: +44 (0)20 7907 2000

Bankside Consultants Limited

Keith Irons/Oliver Winters
Tel: +44 (0)20 7367 8873

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