Fundraising of £51.6 million

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, INTO
 OR WITHIN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF IRELAND
                                OR SOUTH AFRICA.

This  announcement is not an offer of securities for sale in the United States.
The  securities discussed herein have not been  and will not be registered under
the  United States Securities Act of 1933, as amended (the "US Securities Act"),
or  the securities laws of  any state of the  United States.  The securities may
not  be offered  or sold  in or  into the  United States  except pursuant  to an
exemption   from,   or  in  a  transaction  not  subject  to,  the  registration
requirements  of  the  Securities  Act.   No  public  offering of the securities
discussed  herein  is  being  made  in  the  United  States  and the information
contained  herein does not constitute an offering  of securities for sale in the
United  States,  Canada,  Australia,  Japan,  the  Republic  of Ireland or South
Africa.

                         Chaarat Gold Holdings Limited
                          ("Chaarat" or the "Company")

          Fundraising of £51.6 million (approximately US$83.4 million)

Road Town, Tortola, British Virgin Islands (7 February 2011)

Chaarat  (AIM:  CGH)  is  pleased  to  announce that it has conditionally raised
approximately  £51.6  million  (gross)  (approximately  US$83.4 million) via the
proposed  issue  of  103,290,468 ordinary  shares  of  US$0.01  each  ("Ordinary
Shares")  through a placing and direct subscriptions  at a price of 50 pence per
Ordinary Share (the "Placing Price") (the "Fundraising").

The  Company, through its broker, Westhouse Securities Limited ("Westhouse") and
placing  agent, Liberum Capital Limited ("Liberum"), has received commitments to
subscribe  for 100,142,670 new Ordinary  Shares (the "Placing  Shares") to raise
approximately  £50.1 million (the "Placing").  In addition, Chaarat has received
commitments  to subscribe  for 3,147,798 new  Ordinary Shares (the "Subscription
Shares" and, together with the Placing Shares, the "New Shares"), at the Placing
Price, through direct subscriptions (the "Direct Subscriptions").

Background to the Fundraising

The  Company's  strategy  is  to  develop  an  expandable production unit on the
Chaarat  deposit with  first gold  pouring scheduled  for mid- 2012.  Production
capacity  is planned to be increased towards 200,000 ounces per annum by the end
of 2014.  Early production will be based on the mostly free-milling (oxide) zone
(Tulkubash  Project) and increased  production levels are  likely to be fed from
the  refractory  (sulphide)  zones  (Kiziltash  Project)  and  will  require the
introduction of an oxidation unit in due course.

Chaarat  is currently in the process of compiling a Definitive Feasibility Study
for  the  Tulkubash  Project  and  a  Pre-Feasibility  study  on the much larger
Kiziltash Project.

A significant proportion of the net proceeds of the Fundraising will be deployed
towards  developing the required infrastructure for  both projects.  Much of the
infrastructure  will service both  projects and will  enable quick and efficient
development  of  the  future  expansion  phases.   The  infrastructure primarily
includes  the improvement of the access road to the deposit from the main public
road;  the construction of a  power line from the  nearby grid to the processing
plant;  the establishment of  a sub-station and  back up generating capacity and
the tailings dam facility.

In  parallel with  the ongoing  exploration work  taking place  in the Kiziltash
project, an intensive exploration programme will be undertaken during the Spring
and  Summer of 2011 to determine to what extent the oxide resource, particularly
the  open-pittable section,  can be  expanded and  what level  of production the
resource  will support.  The Company and  its technical consultants believe that
the transition from processing mostly oxide to wholly sulphide ore does not pose
a significant technological challenge.

Dekel Golan, Chief Executive of Chaarat, commented:

"Chaarat  is  delighted  to  announce  that  it  has  now secured the funding to
establish  the initial production  stage of the  Chaarat project and  take it to
production.   The fundraising  has been  well received  and we  are delighted to
welcome the new investors to the Company's share register.

"We  have been preparing for this significant step forward.  The management team
in  Bishkek has been  significantly strengthened with  the addition of Benoit de
Galbert  and others to  the team.  In  addition the board  will benefit from the
experience  of Dr. Rob  Weinberg who joined  us recently.  We  are determined to
work  together  with  the  new  government  of  the  country  in  ensuring  this
development  will be one of the major  initiatives contributing to the growth of
economic activity so important to Kyrgyzstan.

"The  Company has been operating in the  country since late 2002 and during that
period has spent a considerable amount of money in developing a resource of 4.4
million ounces.  It is very exciting to be able to move one step further towards
production."

Conditions and further details regarding the Placing

The  Placing Shares  have been  conditionally placed  by Westhouse and Liberum.
Under  the terms of  a placing agreement  dated 7 February 2011 and entered into
between the Company, Westhouse and Liberum, Westhouse and Liberum have agreed to
use their reasonable endeavours to procure placees for the Placing Shares at the
Placing  Price.  The  Placing is  not underwritten  and is  not conditional upon
completion of the Direct Subscriptions.

The  Subscription  Shares  will  be  issued  under the existing power granted by
shareholders  to  the  directors  of  the  Company  to  allot  shares for cash.
Application  has been made for the Direct  Subscription Shares to be admitted to
trading  on AIM,  which is  expected to  take place  on 10 February 2011 ("First
Admission").

The  Subscription  Shares  will  represent  approximately  2.1 per  cent  of the
enlarged  issued share  capital of  the Company  following First Admission.  The
total  enlarged issued  share capital of  the Company  following First Admission
will be 150,181,698 Ordinary Shares.  The above figure may after First Admission
be  used by shareholders as  the denominator for the  calculations by which they
can  determine if they are required to notify  their interest in, or a change to
their interest in, the share capital of the Company under the Company's articles
of association and the AIM Rules for Companies.

The  existing power granted by  shareholders to the directors  of the Company to
allot shares for cash is insufficient to allow the issue of the Placing Shares.
Therefore,   the  Placing  is  conditional  on  the  passing  of  the  necessary
resolutions  at an Extraordinary General Meeting ("EGM") of the Company which is
expected to  be held  at the  offices of  Maclay Murray  & Spens LLP, One London
Wall,  London,  EC2Y  5AB at  10.00 a.m.  on  2 March 2011 and is expected to be
completed  at 8.00 a.m.  on 3 March 2011 on  admission of  the Placing Shares to
trading on AIM ("Second Admission").

A notice  of EGM will today be posted to shareholders and will also be available
on the Company's website.

The  Placing Shares  will represent  approximately 40.0 per  cent. of the issued
share  capital of  the Company  following Second  Admission,  The total enlarged
issued   share  capital of  the  Company  following  Second  Admission  will  be
250,324,368 Ordinary  Shares.  The  above figure  may after  Second Admission be
used  by shareholders as the denominator for  the calculations by which they can
determine if they are required to notify their interest in, or a change to their
interest  in, the share capital  of the Company under  the Company's articles of
association and the AIM Rules for Companies.

Directors' participation

Details  of the subscriptions which directors  of the Company have undertaken to
make in the Fundraising are set out below:



                       Previous      New Shares     Total Shares   Percentage of
                       Ordinary  subscribed for    following the enlarged issued
                    Shares held                      Fundraising   share capital



Christopher           8,111,344       1,888,656       10,000,000            3.99
Palmer-Tomkinson
[1]

Linda Naylor            428,000         200,000          628,000            0.25
[2],[3]

Dr. Robert                  nil          20,000           20,000            0.01
Weinberg [2]


[1] Subscription included in the Placing
[2] Subscription included in the Direct Subscriptions
[3] Of these shares, 285,500 Ordinary Shares currently held and 100,000 Ordinary
Shares subscribed for in the Fundraising relate to Linda Naylor's husband.

China Nonferrous Metals International Mining Co Ltd ("CNMIM")

Chaarat  is required to give notice to CNMIM if it intends to issue any Ordinary
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 Ordinary Shares  to CNMIM on  the same terms  as the New Shares as is
necessary  to maintain the percentage holding of CNMIM prior to the issue of the
New  Shares.  The required notice in respect of the issue of the New Shares will
be sent to CNMIM and a further announcement made, if appropriate.



 Further information about the Company:

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

 Liberum Capital Limited                                      020 3100 2200


 Chris Bowman                               [e-mail]
 Sheharyar Malik                         [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 4.2 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 risks, uncertainties and other factors include, among
others,  changes in the credit markets, changes in interest rates, a fall in the
price  of gold, legislative and regulatory changes, changes in taxation regimes,
and general economic and business conditions, particularly in the United Kingdom
and   Kyrgyzstan.    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.

The distribution of this announcement in certain jurisdictions may be restricted
by  law and  such distribution  could result  in violation  of the  laws of such
jurisdictions.  In particular, this announcement is  not for distribution in the
United  States,  Australia,  Canada,  Japan,  the  Republic  of Ireland or South
Africa.   Additionally,  the  information  in  this  press  release  may  not be
forwarded  or distributed to any  other person and may  not be reproduced in any
manner  whatsoever. Any forwarding, distribution, reproduction, or disclosure of
this  information in whole  or in part  is unauthorized. Failure  to comply with
this directive may result in a violation of the Securities Act or the applicable
securities laws of other jurisdictions.







This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
    
Source: Chaarat Gold Holdings Ltd via Thomson Reuters ONE

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