Shareholder Update

Celtic Resources Holdings PLC
05 December 2006


           Celtic Resources Holdings Plc ("Celtic" or the "Company")

                               Shareholder Update

The Directors of Celtic can confirm that on 13 November 2006 the Company
received a requisition to convene an extraordinary general meeting ("EGM") of
the Company's shareholders ("Shareholders") from Aton International Limited
("Aton") on behalf of a group of shareholders, who in aggregate have reported
holding 11.6 per cent. of the issued share capital of the Company.

The purpose of the suggested EGM was to allow Shareholders to discuss and vote
on certain aspects of the Company's strategy, its proposed acquisition of Eureka
Mining Plc and to propose the payment by Celtic of a dividend to Shareholders.

In the intervening period the Directors of Celtic have engaged in a constructive
dialogue with representatives of Aton to discuss these issues. Aton has
subsequently agreed to withdraw its request for an EGM.

5 December 2006

For further information please contact:

Peter Hannen
Chairman
Celtic Resources Holdings Plc
Tel: [phone]
Laurence Read
Conduit PR
Tel: [phone]




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