Scheme of arrangement

Celtic Resources Holdings PLC
22 December 2006



22 December 2006


                                        
                          Celtic Resources Holdings Plc
                          ("Celtic" or "the Company")
                                        
                        Scheme of Arrangement Effective

Celtic is pleased to announce that the Scheme of Arrangement of Eureka Mining
plc under which Eureka Mining plc agreed to be acquired by Celtic became
effective yesterday, 21 December 2006.

For further information please contact:

Kevin Foo / Kate Dexter Smith
Celtic Resources Holdings Plc
Tel: + 44 (0)20 7921 8800
[e-mail]

Frank Moxon / Simon Edwards
Evolution Securities Limited
Tel: [phone]

Leesa Peters / Laurence Read
Conduit PR
Tel: [phone] / Tel: [phone]
[e-mail]

                             www.celticresources.com



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