Fundraising of £2.9 million

Chaarat Gold Holdings Limited
                          Fundraising of £2.9 million


Road Town, Tortola, British Virgin Islands (23 September 2010)

  * Issue of 6,860,000 new ordinary shares at 42p
  * Proceeds to be used to accelerate the development of the Tulkubash oxide
    project towards production.

Chaarat  Gold Holdings Limited (AIM: CGH) ("Chaarat" or the "Company"), the gold
exploration and development company operating in the Kyrgyz Republic, is pleased
to  announce that the Company, through  its broker Westhouse Securities Limited,
has  raised approximately  £2.9 million  (before expenses)  through the issue of
6,860,000 new  ordinary  shares  of  US$0.01  each  (the "Placing  Shares") at a
placing price of 42 pence per share (the "Placing").

Use of Proceeds

Work  on the pre-feasibility study has  crystallised the development strategy of
the  Company.  The  strategy rests  on two  lynch-pins; fast  development of the
oxide  segment  of  the  deposit  (the  "Tulkubash  Project") and the concurrent
preparation  for  development  of  the  larger  sulphide  section (the "Main and
Contact Projects").

The  funds raised will be  used to commission a  Feasibility Study and carry out
other  activities which will accelerate the development of the Tulkubash Project
with the objective of commencing production by the end of 2011.

A better understanding of the mining conditions at the Main and Contact Projects
has  enabled  the  Company  to  design  a  drilling  programme  focused  on  the
development of specific mineable blocks underpinning the desired production rate
of approximately 200,000 ounces per annum.


Following  the issue  of the  Placing Shares  there will be 141,333,900 ordinary
shares  of US$0.01 in issue.  The Placing Shares will, following allotment, rank
pari  passu in all respects with the existing issued shares.  The Placing Shares
will  be  issued  under  the  existing  power  granted to the Directors to allot
shares.   The Placing is  expected to be  completed at 8.00 a.m. on 24 September
2010 on admission of the Placing Shares to trading on AIM.

Commenting on the Placing, Dekel Golan, CEO of Chaarat, said:

"The  continuing support from our existing  shareholders at near market price is
extremely  gratifying. The funds raised will be used to accelerate our plans for
the  development of the Tulkubash oxide project towards production in 2011 which
will provide early cash flow ahead of the development of the main orebody."

Pursuant  to the subscription  agreement dated 10 July  2009 between Chaarat and
China  Nonferrous Metals Int'l  Mining Co Ltd  ("CNMIM"), Chaarat is required to
give  notice to CNMIM if it intends to  issue any Chaarat shares for cash or non
cash  consideration.  CNMIM may within 15 business days of receipt of the notice
give written notice to require Chaarat to issue such number of Chaarat shares to
CNMIM  on the same terms as the Placing  Shares, as is necessary to maintain the
percentage  holding of CNMIM prior to the  Placing.  CNMIM has given notice that
it  wishes to maintain its shareholding at 19.9% following the Placing announced
on  1 July 2010 and the completion of the Kyrex acquisition announced on 27 July
2010.  The  shares will  be in  issued in  due course.   The required  notice in
respect  of the issue of the Placing Shares  will be sent to CNMIM and a further
announcement made, if appropriate.

 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 Chaarat Gold
Project  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.  A scoping
study  demonstrating  the  economic  viability  of  the Chaarat Gold Project was
completed  at  the  end  of  2008.  The  Company  is currently in the process of
compiling  a pre-feasibility study. Chaarat's objective  is to become a low cost
gold  producer targeting  production of  over 200,000 ounces  per annum by early
2013. In  addition, the Company has identified  the potential of establishing an
early  stage, low cost, partially  open pit mine at  the Tulkubash oxide project
for initial production in Q4 2011.


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#1446298]








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Source: Chaarat Gold Holdings Ltd via Thomson Reuters ONE