Issue of Share Options

Chaarat Gold Holdings Limited


                          ("Chaarat" or the "Company")

                             Issue of Share Options

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

In accordance with the Company's share option scheme and following approval at a
Board meeting on 20 December 2010, the Company announces that the following
options were awarded to directors of Chaarat on 22 December 2010.


 Director                                            Options granted

 Dekel Golan                                                 327,869

 Alex Novak                                                 206,557

 Linda Naylor                                                213,115

 Christopher Palmer-Tomkinson                                 37,705

 Luo Tao                                                      32,787

 David Tang                                                   32,787



In addition to the above a further 476,354 options have been granted to
employees on the same terms.  All of the options are exercisable between 1 and
8 years from the date of grant.

Under the terms of the scheme, the exercise price of the options is calculated
at the date of grant using the 15 trading day volume weighted average share
price prior to grant.  At the date of grant the exercise price was calculated as
61p.

 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








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Source: Chaarat Gold Holdings Ltd via Thomson Reuters ONE

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