Exploration Results & Update

Anglo Asian Mining PLC
17 January 2006



17 January 2006



AIM: AAZ

                             ANGLO ASIAN MINING PLC
                        ('Anglo Asian' or 'the Company')

         Further exploration results from Azerbaijan and trading update


Anglo Asian reports on the further preliminary exploration work carried out
within the Gosha property and the Ordubad Contract Area, which includes the
Piyazbashi, Shakardara and Misdag properties, in accordance with its ongoing
exploration programme.  The initial results from the Gosha and Piyazbashi
properties have been encouraging and confirm the original Soviet data.  The
results from the first of three adits at Shakardara have been disappointing.


Gosha


Results from the first 100 continuous channel samples over 200 metres from adits
5 and 7 of the Gosha property give an average of 3.02 grams per tonne ('g/t') of
gold, including 48 metres averaging 5.18g/t gold in adit 5 and 20 metres at
14.84g/t gold in adit 7.  These results confirm two of the large vein-like
structures as described in the AIM Admission Document and are in line with the
Soviet data.  Results from a further 218 samples from adits 5 and 7 are expected
by the end of January 2006.



Ordubad



Anglo Asian has carried out preliminary sampling and drilling at its Piyazbashi
property and sampling at its Shakardara and Misdag properties within the Ordubad
Contract Area.



Piyazbashi

Results have been received from the first two deep diamond drill holes on the
Piyazbashi property along with 28 samples from adit 1.  The preliminary results
received to date confirm the presence and gold grade of the veins, which is
broadly in line with the Soviet data.  Full detailed results will be published
in the near future together with the results of continuing further drilling.



Areas outside the defined Piyazbashi property have also been investigated by the
use of trenching and reverse circulation drilling.  The results from these
step-out areas showed minimal gold content.  These areas did not include any
inferred resources.



Shakardara

At Shakardara, although a single sample result yielded 2.1 g/t gold, the average
of the preliminary channel sampling of adit 12 was 0.09 g/t of gold, as opposed
to the Soviet classified grade in that adit of an average of 1.1 g/t gold over
380 metres.  Retesting and resampling of the dump outside adit 12 (although an
unrepresentative method of sampling) gave two results around 1 g/t, in contrast
to the significantly higher grades of two samples taken by the Company's
consultants, which were included in the AIM Admission Document of 14.88 and 33.6
g/t gold.  Those two high grade samples were not used to calculate the inferred
resource but contributed to the estimation of the upside potential.



The copper inferred resource of Shakardara stated in the AIM Admission Document
is not based on adit 12 but mainly from results from other parts of the deposit,
including adit 10.  Sampling will commence on adits 10 and 11, the other main
adits at Shakardara, following the clearance of blockages.  Results from these
adits are therefore not expected until at least the end of March 2006.
Continued sampling at Shakardara will help to establish the reasons for the gold
grade shortfall in and around adit 12 and to gain further information on this
property.



Misdag

Forty reconnaissance composite samples at 10 metre intervals have been taken at
adits 12 and 13 at the Misdag property, which gave an average of 0.64% copper,
including one sample at 3.78% copper.  The Soviet data gave an average grade for
Misdag of 0.43% copper.  More extensive sampling work is due to commence in late
March.



Going forward



The Company has retained SRK Consulting to assist in the prioritisation of its
properties.



The CIL plant acquired by the Company in Australia is currently being
dismantled, put into containers and transported to the port of Mackay,
Queensland.  This is expected to be completed by late February, with a large
part of the plant already in the port vicinity.  The Company will then be able
to store the plant at the port, maintaining flexibility for it to be moved at
short notice.



A new portable modular analytical laboratory, capable of processing 300 samples
per day, is presently en route to Azerbaijan from the USA.  This is expected to
be fully operational within three months.



The exploration programme will be extended to the Gedebek property, where
extensive cleaning of adits and establishment of some infrastructure has already
been carried out.



Further sampling will be carried out at Misdag, Agyurt and Shakardara in order
to optimise the drilling programme planned for these properties.



The Company had cash resources of $21.3 million at 31 December 2005, at which
point an estimated $5 million was outstanding on the plant and for completion of
the dismantling contract.  Once these obligations have been discharged, the
Company will own the containerised asset at the port in Australia.



Reza Vaziri, Executive Chairman of Anglo Asian, commented, 'The Gosha and
Piyazbashi results give the Company comfort and encouragement in contrast to our
disappointment with the first adit result at Shakardara.  The full impact of
this initial adit result on Shakardara will not be established until sampling
from adits 10 and 11 have been analysed.'



-Ends-



For further details, please contact:


Anglo Asian Mining PLC     Charles Hancock, Chief Executive     [phone]

Numis Securities Limited   John Harrison                        [phone]

Parkgreen Communications   Justine Howarth / Victoria Thomas    [phone]




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