Drilling results

Chaarat Gold Holdings Limited

                          ("Chaarat" or the "Company")

                           Tulkubash drilling update


Road Town, Tortola, British Virgin Islands (29 November 2010)

Chaarat  (AIM: CGH) reports the drilling results from six trenches and the first
ten  of 42 holes to  be drilled during  the Company's Tulkubash 2010 exploration
programme.   The drilling programme  at Tulkubash commenced  in June 2010 and is
expected  to be completed in the next few weeks with the completion of the final
two drill holes.

The  Tulkubash project forms part of the Company's principal property the wholly
owned,   604 km²,  Chaarat  Licence  Area  in  western  Kyrgyzstan.   A  general
description   and   a  location  map  can  be  found  on  the  Chaarat  website:
(www.chaarat.com).

The Tulkubash project includes relatively clean, free milling mineralisation and
has  now  been  delineated,  discontinuously,  over  a  strike  length  of  four
kilometres.   The 2010 exploration programme was  focused on a 500 metre section
at  the southern end  of the Tulkubash  project and was  designed to generate an
initial  open pittable resource which can quickly  be developed into an open pit
mine.  Highlights include:

Highlights (True widths)

 Hole / Channel sample ID      Section   True width (metres)   Au (g/t)



 Tr073_10                          600                 34.08       3.86

              Incl. Tr073_10       600                 14.80       5.66

              Incl. Tr073_10       600                  4.80       4.01



 CCH10-T0714                       680                  7.20       6.05



 Tr075_10                          680                 16.00       3.54



 CCH10-T0718                       760                 11.00       3.34



 CCH10-T0701                       920                 10.00      10.09



 Adit-2_L                          960                 12.86       5.04


The  2010 exploration programme of the Tulkubash project comprises 42 holes over
a  total of  4,923 metres, including  100 metres of  underground development and
414 metres  of  trenching.   Only  two  holes  in  the  programme  remain  to be
completed.  It is anticipated that drilling and assay analysis will be available
in  the next  few weeks  and that  a revised  resource for the Tulkubash project
incorporating  the new drilling  information will be  completed during the first
quarter of 2011.

Prior  to the 2010 exploration  season 25 holes, a  total of 4,721.6 metres, had
been  previously drilled  on the  Tulkubash project.   The Company believes that
results  from the  2010 drilling programme  will go  towards an updated resource
which will in turn substantiate the economic viability of the currently designed
Tulkubash project.  SNC Lavalin has been commissioned to complete the definitive
feasibility study for the project which is expected to be ready during the first
half of 2011.

Dekel  Golan, CEO of Chaarat, comments "As  we are approaching the completion of
the  exploration programme for the first stage  of the Tulkubash project, we are
pleased  to update the market on some  of the early results we have encountered.
 These  results represent a small but  significant portion of the drilling which
took place and we expect to announce the balance of the results in January 2011
followed by a resource update.

"The  Tulkubash project holds great  promise for Chaarat and  we look forward to
the  definitive feasibility study  results next year  which we hope will confirm
our  understanding that  the project  can support  low cost, open pit production
which  is  the  precursor  to   the  development  of  the  much larger Kiziltash
project."


General Description of the Tulkubash Zone
The  Tulkubash  zone  is  one  of  the  three major mineralisation trends of the
Chaarat  Gold  Property.   Mineralisation  in  the  Tulkubash  zone is hosted in
silicified quartzites and mineralised zones exhibit pervasive silicification and
some  argillic alteration, together with elevated contents of sulphides of up to
5%-10% by  volume.  The Tulkubash zone strikes  parallel to the Contact and Main
zones  (collectively known as  the Kiziltash project)  and extends to the north-
east  into the Karator and Ishakuldy areas.  The mineralised zones dip at 40-50
degrees  to the  North West.   The gold  is associated with sulphides, sericitic
alteration and minor quartz veinlets.

Based  on  drilling  completed  in  2009, a  JORC  compliant (inferred) resource
containing  336,000 oz at  a grade  of 4.18 g/t  Au had  been delineated  in the
Tulkubash  project area to depths up to 330m metres, down dip from outcrop.  The
mineralisation remains open both down dip and strike.

A  selection of results  from the six  trenches, underground channel samples and
first ten holes is set out in the table below:

                            Drilled
Hole / Channel                 From  Drilled To      Length  True width
sample ID       Section    (metres)    (metres)    (metres)    (metres) Au (g/t)



CCH10-T07108        600       43.50       48.00        4.50        3.00     2.56

CCH10-T07108        600       58.50       64.50        6.00        6.00     2.71

Tr073_10            600        4.00       46.60       42.60       34.08     3.86

Incl. Tr073_10      600        6.70       25.20       18.50       14.80     5.66

Incl. Tr073_10      600       34.00       40.00        6.00        4.80     4.01

Tr074_10            600       12.00       16.00        4.00        3.40     4.39

Tr074_10            600       36.00       42.00        6.00        5.10     2.71

CCH10-T0706         620       30.50       35.00        4.50        3.75     2.00

CCH10-T0706         620       74.00       81.50        7.50        6.23     4.10

CCH10-T0713         640       19.50       25.50        6.00        5.00     2.90

Incl.T0713          640       22.50       25.50        3.00        2.49     4.61

CCH10-T0713         640       51.00       58.50        7.50        6.23     5.31

CCH10-T0715         640       19.50       22.50        3.00        2.50     5.15

CCH10-T0715         640       43.50       46.50        3.00        2.50     2.00

CCH10-T0714         680        3.00        7.00        4.00        3.20     2.06

CCH10-T0714         680       19.00       28.00        9.00        7.20     6.05

CCH10-T0714         680       46.00       52.00        6.00        4.80     3.12

Tr072_10            680       30.50       34.00        3.50        3.00     2.73

Tr075_10            680       15.00       35.00       20.00       16.00     3.54

CCH10-T0718         760      131.00      144.00       13.00       11.00     3.34

CCH10-T0717         800       90.00       91.50        1.50        1.20     10.3

CCH10-T0717         800      118.50      124.50        6.00        4.80     2.77

CCH10-T0716         840       61.50       63.00        1.50        1.20     4.50

CCH10-T0716         840       87.00       91.50        4.50        3.60     2.15

CCH10-T0711         880       74.00       80.00        6.00        5.00     4.10

CCH10-T0701         920       62.00       75.50       13.50       10.00    10.09

CCH10-T0701         920      101.00      108.50        7.50        5.56     2.35

Adit-2_L            960       67.00       74.00        7.00        6.00     3.09

Adit-2_L            960       81.00       96.00       15.00       12.86     5.04

Adit-2_L            960       81.00       83.30        2.30        1.97     5.08

Adit-2_L            960       86.50       95.70        9.20        7.91     6.51

Tr071_10            960       18.00       24.00        6.00        4.80     3.44

Tr078_10_II         960        1.00       19.50       18.50       15.73     2.84

Incl.
Tr078_10_II         960        5.00        7.00        2.00        1.70     4.98

Incl.
Tr078_10_II         960       14.50       17.50        3.00        2.55     6.07




 Further information about the Company:

  Chaarat Gold Holdings Ltd               [phone]
   c/o Central Asia Services Ltd          [e-mail]
                                          [e-mail]


 Westhouse Securities Limited             [phone]

 Tim Feather                               [e-mail]
 Richard Baty                              [e-mail]

 Smith's Corporate Advisory               [phone]

 Dominic Palmer-Tomkinson                 [e-mail]

 Conduit PR                               [phone]

 Jos Simson                               [e-mail]
 Emily Fenton                             [e-mail]


Note to Editors:

About Chaarat Gold

Chaarat  Gold is an exploration and  development company operating in the Kyrgyz
Republic.   The Company's main activity is  the development of the Kiziltash and
Tulkubash  projects situated within the Middle Tien Shan Mountains of Kyrgyzstan
which form part of the Tien Shan gold belt.  The Company has thus far delineated
a  JORC compliant  mineral resource  of 4.009 Moz  at a  grade of  4.14 g/t gold
across  both deposits.  The Company  is currently in the  process of compiling a
Pre-Feasibility  study  on  the  Kiziltash  project and a Definitive Feasibility
Study  on the Tulkubash  project.  Chaarat's objective  is to become  a low cost
gold  producer targeting  production of  over 200,000 ounces  per annum by early
2014 from the Kiziltash project with first production from the smaller Tulkubash
project in early 2012.

www.chaarat.com

Competent Person
The Competent Person with overall responsibility for this press release, and who
has reviewed the information contained herein, is Sunit Patel M.Sc (Geology),
FGS, GSSA, who is an employee of Chaarat Gold.  Mr. Patel is an exploration
geologist with 22 years of experience in the resource industry who has
sufficient experience relevant to the style of mineralisation and type of
deposit under consideration and was supervisor to the work subject of this
release.

Disclaimer
This  press release  includes forward-looking  statements.  Such forward-looking
statements  involve known and  unknown risks, uncertainties  and other important
factors   beyond   Chaarat's  control  that  would  cause  the  actual  results,
performance  or achievements of  Chaarat to be  materially different from future
results,  performance  or  achievements  expressed  or  implied by such forward-
looking  statements.   Such  forward-looking  statements  are  based on numerous
assumptions  regarding Chaarat's present and  future business strategies and the
environment  in which Chaarat  will operate in  the future.  Any forward-looking
statements  speak  only  as  at  the  date  of this document.  Chaarat expressly
disclaims  any obligation or undertaking to disseminate any updates or revisions
to  any forward-looking  statements contained  in this  document to  reflect any
change  in Chaarat's expectations with regard to  these or any change in events,
conditions or circumstances on which any such statements are based.  As a result
of these factors, the events described in the forward-looking statements in this
press release may not occur either partially or at all.


[HUG#1466304]








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Source: Chaarat Gold Holdings Ltd via Thomson Reuters ONE