Drilling Update

Chaarat Gold Holdings Limited

                          ("Chaarat" or "the Company")

                                Drilling update

Road Town, Tortola, British Virgin Islands (3 March 2011)

Chaarat Gold Holdings Ltd (AIM:CGH) is pleased to report further drilling
results from the Contact Project.  The Contact Project is located within the
Contact Zone of the Kiziltash Project and comprises the mineralised body which
has been created by combining the C4600 and C5300 projects.

Selected results from the Contact Project of the Kiziltash Project

  * UG-23 interval of 22.00 metres @ 6.60 g/t
  * UG-25 interval of 6.92 metres @ 4.14 g/t
  * UG-407 interval of 12.50 metres @ 6.82 g/t
  * UG-407 interval of 5.68 metres @ 11.21 g/t
  * UG-408 interval of 4.55 metres @ 9.87 g/t
  * UG-410 interval of 5.94 metres @ 4.31 g/t

Following the 2010 drilling season, Chaarat reported a JORC compliant resource
of 4.406Moz at a grade of 4.2 g/t gold.  Included in the total is a JORC
compliant resource of 2.001Moz at 4.20 g/t gold from the Contact Project.
 Underground drilling continues at the Contact Project and the results reported
today are the results from the first 10 drill holes not included in the 2010
resource update.  Further results will be reported regularly.

Mineralisation in the Contact Project has been established over a strike length
of 1,160 metres and vertical extension to a maximum depth of 900 metres from the
surface.  The mineralisation is open both along strike and down dip.

Dekel Golan, CEO of Chaarat, comments "The results and the increase in strike
and down dip continuity will not only add to the delineated resource in the
deposit, but also have a positive impact on the potential mining rate of the
Kiziltash project.  The results help to identify the higher grade trends in the
mineralised body and focus exploration efforts on those areas which will
increase the average grade of the whole deposit."



+---------+-------+-------+------+------+-----------------+----------+------+
| DH No.  |Project|Section| From |  To  |Intersected width|True width|Au g/t|
+---------+-------+-------+------+------+-----------------+----------+------+
|  UG-24  |  CP   | 4640  | 1.50 | 9.00 |      7.50       |   5.67   | 2.58 |
+---------+-------+-------+------+------+-----------------+----------+------+
|  UG-24  |  CP   | 4640  |128.50|151.00|      22.50      |  17.00   | 3.61 |
+---------+-------+-------+------+------+-----------------+----------+------+
|  UG-25  |  CP   | 4720  | 4.50 | 7.50 |      3.00       |   2.44   | 2.19 |
+---------+-------+-------+------+------+-----------------+----------+------+
|  UG-25  |  CP   | 4720  |21.50 |23.00 |      1.50       |   1.22   | 7.30 |
+---------+-------+-------+------+------+-----------------+----------+------+
|  UG-25  |  CP   | 4720  |131.00|144.50|      13.50      |  11.00   | 3.11 |
+---------+-------+-------+------+------+-----------------+----------+------+
|  UG-25  |  CP   | 4720  |161.00|180.50|      19.50      |  18.00   | 3.33 |
+---------+-------+-------+------+------+-----------------+----------+------+
|including|  CP   | 4720  |161.00|170.00|      9.00       |   8.31   | 3.55 |
+---------+-------+-------+------+------+-----------------+----------+------+
|including|  CP   | 4720  |173.00|180.50|      7.50       |   6.92   | 4.14 |
+---------+-------+-------+------+------+-----------------+----------+------+
|  UG-23  |  CP   | 4800  | 1.50 |10.50 |      9.00       |   6.60   | 2.46 |
+---------+-------+-------+------+------+-----------------+----------+------+
|  UG-23  |  CP   | 4800  |100.50|130.50|      30.00      |  22.00   | 6.60 |
+---------+-------+-------+------+------+-----------------+----------+------+
|  UG-23  |  CP   | 4800  |133.50|144.00|      10.50      |   7.70   | 3.38 |
+---------+-------+-------+------+------+-----------------+----------+------+
|  UG-23  |  CP   | 4800  |148.50|150.00|      1.50       |   1.10   | 7.19 |
+---------+-------+-------+------+------+-----------------+----------+------+
|  UG-26  |  CP   | 4800  |153.50|158.00|      4.50       |   3.38   | 2.73 |
+---------+-------+-------+------+------+-----------------+----------+------+
|  UG-26  |  CP   | 4800  |168.50|192.50|      24.00      |  18.00   | 4.14 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-601  |  CP   | 4960  |43.50 |52.50 |      9.00       |   7.00   | 2.09 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-601  |  CP   | 4960  |258.00|264.00|      6.00       |   4.67   | 3.69 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-601  |  CP   | 4960  |268.50|271.50|      3.00       |   2.33   | 2.74 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-407  |  CP   | 5280  |99.00 |115.50|      16.50      |  12.50   | 6.82 |
+---------+-------+-------+------+------+-----------------+----------+------+
|including|  CP   | 5280  |108.00|115.50|      7.50       |   5.68   |11.21 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-408  |  CP   | 5280  |131.50|136.00|      4.50       |   3.41   | 2.61 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-408  |  CP   | 5280  |149.50|155.50|      6.00       |   4.55   | 9.87 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-406  |  CP   | 5360  |126.50|132.50|      6.00       |   5.00   | 2.09 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-406  |  CP   | 5360  |137.00|140.00|      3.00       |   2.50   | 2.00 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-406  |  CP   | 5360  |158.00|159.50|      1.50       |   1.25   | 3.20 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-406  |  CP   | 5360  |165.50|167.00|      1.50       |   1.25   | 3.03 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-409  |  CP   | 5360  |204.00|210.00|      6.00       |   5.00   | 3.29 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-409  |  CP   | 5360  |223.50|226.50|      3.00       |   2.50   | 5.00 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-409  |  CP   | 5360  |262.50|265.50|      3.00       |   2.50   | 2.85 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-409  |  CP   | 5360  |274.50|277.50|      3.00       |   2.50   | 4.75 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-410  |  CP   | 5360  |238.00|250.00|      12.00      |   9.50   | 2.57 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-410  |  CP   | 5360  |269.50|272.50|      3.00       |   2.38   | 6.53 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-410  |  CP   | 5360  |287.50|295.00|      7.50       |   5.94   | 4.31 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-410  |  CP   | 5360  |302.50|305.50|      3.00       |   2.38   | 3.16 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-410  |  CP   | 5360  |320.50|325.00|      4.50       |   3.56   | 2.31 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-410  |  CP   | 5360  |341.50|343.00|      1.50       |   1.19   | 4.21 |
+---------+-------+-------+------+------+-----------------+----------+------+
| UG-410  |  CP   | 5360  |404.50|406.00|      1.50       |   1.19   | 5.54 |
+---------+-------+-------+------+------+-----------------+----------+------+
Note to Editors:

 Further information about the Company:

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



 Westhouse Securities Limited             [phone]

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

 Smith's Corporate Advisory               [phone]

 Dominic Palmer-Tomkinson                 [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 4.406 Moz  at a  grade of  4.20 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 mid 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.






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     originality of the information contained therein. 
    
Source: Chaarat Gold Holdings Ltd via Thomson Reuters ONE

[HUG#1494006]