Result of AGM

Celtic Resources Holdings PLC
12 September 2006


Celtic Resources Holdings PLC
12 September 2006

                          Celtic Resources Holdings plc
                          ('Celtic' or the 'Company')
                                        
                        Results of Annual General Meeting
                                Held at 3pm today
                                        
At the beginning of Celtic's AGM the Chairman made a statement in relation to
Resolution 7. "This is a customary resolution which empowers the directors to
allot up to 15% of the issued share capital of the Company for cash without
giving shareholders a pre-emptive right to take up any new shares which are to
be allotted for cash. A resolution such as resolution 7 is often passed to allow
directors of quoted companies to allot shares for cash in order to deal with
funding requirements which need to be addressed without the requirement of a
shareholder meeting. Following representations from shareholders, and having
regard to the significant cash deposits which are available to the Company, the
board has concluded that an authority to the extent of 15% of the Company's
issued share capital is unnecessary and accordingly does not intend now to
support the passing of this resolution, and those directors who hold shares
intend to vote against that resolution."

The Chairman continued, "Instead, the Celtic board plans to convene a separate
EGM at which a similar resolution which seeks a similar power in respect of up
to 5% of the Company's authorised share capital will be proposed with the
support of the shareholders concerned."

All resolutions proposed at its Annual General Meeting, held earlier today, were
duly passed with the exception of Resolution 7.


                            Appointment of Directors

Celtic Resources Holdings Plc ('Celtic' or 'the Company') is pleased to inform
you of two new board appointments:

Mr. Alexander Schwarzkopf will join the board as a non-executive director with
effect from the conclusion of todays Annual General Meeting. Mr. Schwarzkopf is
a Russian Federation national and a merchant banker with experience in
investment in natural resources in the territories of the former Soviet Union
and we are delighted to have his expertise to help our company.


The board also recently decided to strengthen our representation from
Kazakhstan, as our main business is now in that country. The Board is therefore
pleased to announce that Mr Mukhtar Tuyakbayev, for many years our chief
representative in Kazakhstan, is also joining the board at the same time as
executive director, Kazakhstan.


Both appointments are subject to the successful completion of due diligence
requirements.






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