Resources Increase to 3.13Moz

Chaarat Gold Holdings Ltd
22 April 2008


For immediate release



                       Chaarat Gold Holdings Ltd


   Gold Resources Increase to over 3 Million Ounces at its Chaarat Property


Road Town, Tortola, British Virgin Islands (22nd April 2008).


Chaarat Gold Holdings Ltd (AIM-CGH) ('Chaarat' or 'the Company') is pleased to
announce a significant increase in the estimated gold resources at its 100%
owned Chaarat deposit in Kyrgyzstan to 3.134 million ounces, based on results
from the 2007 exploration season. During the exploration programme in the past
year, 53 diamond drill holes (10,673 metres) were drilled into the wide
mineralised zones in 11 project areas, over a six kilometre strike length. The
resource estimate was undertaken to JORC compliant standards by Behre Dolbear,
an internationally recognised consulting group, who are independent of Chaarat.


Highlights

•   The indicated and inferred resource has increased by 68.52% from 1.861 
    million ounces in 2006 to 3.134 million ounces in 2007.

•   The average grade of the resources has increased from 4.13 g/t Au to 4.41 
    g/t Au

•   2.2 million ounces at 4.45g/t Au are in the Indicated resource category 
    and 0.95 million ounces at 4.32 g/t are in the Inferred resource category.

•   The C5300 project area, where much of the recent drilling has been focused,
    contains an estimated resource of 912,000 ounces at 4.44 g/t Au over 
    intersected widths up to 24 metres, a strike length of 630 metres and a 
    drilled depth of 396 metres.



Table 1:  Summary of Estimated Resources at Chaarat (at 15th April 2008)
                             Indicated Resources          Inferred Resources            Total Resources
Zone         Sub-zone    Tonnage  Grade (g Contained   Tonnage  Grade  Contained   Tonnage  Grade  Contained
                          (kt)     /t Au)  Gold (koz)   (kt)     (g/t  Gold (koz)   (kt)     (g/t  Gold (koz)
                                                                 Au)                         Au)
Main Zone    M2400        2,514     4.29      347        866     2.98      83       3,380    3.96     430
             M3000        3,591     4.36      503        408     4.36      57       3,999    4.36     560
             M3400                                      1,096    4.71     166       1,096    4.71     166
             M3900        1,192     4.06      156        71      3.44      8        1,264    4.03     164
             M4400         274      4.26       38        26      3.15      3         301     4.17      40
             M5000         195      7.58       48        156     8.48      42        350     7.98      90
             M6000         679      4.68      102        140     3.37      15        820     4.46     117
Main Zone                 8,446     4.39     1,193      2,762    4.22     374      11,208    4.35    1,567
total
Contact Zone C4000         587      4.0        76        241     4.08      32        829     4.02     107
             C4600        1,090     4.52      158        486     4.55      71       1,576    4.53     230
             C5300        3,609     4.54      527       2,775    4.32     385       6,384    4.44     912
Contact Zone              5,286     4.48      761       3,503    4.33     488       8,788    4.42    1,248
total
Tulkubash    T0700        1,642     4.70      248        473     4.66      71       2,115    4.69     319
Zone
   Totals                15,374     4.45     2,202      6,738    4.31     933      22,111    4.41    3,134



Dekel Golan CEO comments; 'We are delighted with the results of the latest
resource estimate on the wide mineralised zones at Chaarat. We are particularly
pleased that the past year's drilling has increased the gold resource by over
one million ounces and that the grade of the resource has also increased. The
potential of the resource will be enhanced further when the silver and antimony
values, associated with the gold mineralisation, are taken into account. The
drilling of down dip and strike extensions during this year will aim to increase
these resources towards our initial target of delineating a resource of four
million ounces.'

This resource estimate is compiled from all diamond drill holes completed on 11
project areas at Chaarat to date and includes the resources documented in the
Competent Persons Report ('CPR') of September 2007 for the 2006 drilling season,
as well as the 2007 drilling results received subsequent to the calculation of
that resource estimate, together with the samples taken from the adit. These
later drilling results have all been published in press releases between January
and April 2008, after the usual delays in receipt and processing of assay
results.

A total of 115 drill holes were included in the resource estimate and were
drilled on the three sub parallel zones of mineralisation at Chaarat, the Main,
the Contact and the Tulkubash Zones, which are characterized by mineralisation,
up to 24 metres wide and dipping at 55 to 70 degrees to the north west.

            (Please click on the link below to view the 
            Chaarat Projects & Estimated  Resources map):

http://www.rns-pdf.londonstockexchange.com/rns/8120s_-2008-4-21.pdf


The deepest drill intersection on the C5300 Project Area is 429 metres and on
the M3000 Project Area the deepest intersection is 296 metres. On the other nine
project areas included in the resource estimate, resource drilling is limited to
depths of between 115 to 230 metres.

On all project areas, the mineralisation remains open down dip and on most
project areas it is open along strike. Underground drilling continues from the
adit on the C5300 Project Area and the 2008 drilling programme will employ 6
surface drill rigs with the aim of increasing this resource in the coming year.
Simultaneously, a scoping study is nearing completion in which bulk mining
methods, both open pit and underground, are being considered for the mining of
the wide mineralised zones.


QA/QC PROCEDURES;


Methodology

The estimated resources for the Main, Contact, Normat and Karator mineralised
zones at the Chaarat gold deposit in Kyrgyzstan were re-calculated by Behre
Dolbear in March-April 2008, using industry standard geological modelling and
resource estimation software.

The estimation took into account all the available exploration data from all the
previous (2004, 2005, 2006, 2007) exploration and drilling campaigns,
including:- drillholes, dozer-cuts, trenches and underground sampling.

The data was used to develop new, three-dimensional, geological wireframe models
for each mineralised zone using a cutoff grade of 2 g/t Au. Once the 3D-
geological solids were built, the assay values were composited through the
solids using a technique of variable length with a minimum intersection interval
of 2m, which was considered appropriate for the variography of the deposit.

In the previous (2007) estimation, the Main zone was subdivided into three sub-
zones identified as M3000, M3400 and M3900; and the Contact zone was also
divided into three sub-zones identified as C4000, C4600 and C5300 respectively,
which were all considered to be statistically separate for resource estimation
purposes.

The recent infill-drilling has demonstrated the depth and width continuity of
the geological boundaries of the Main and Contact zones and has resulted in a
significant (50%) increase in the volume of the mineralisation compared with the
previous resource estimates. It also showed that the sub-zones are
geostatistically similar in their variography, so the Main and Contact zones
could be considered as single domains and therefore the same estimation
parameters could be applied to each of the sub-zones.  However, Zone T0700
(previously the Normat zone), as well as the Karator zone, were estimated
separately.

The Ordinary Kriging (OK) geostatistical method was used for the estimation of
the Main and Contact zones.   The Squared Inverse Distance (ID2) method was used
for the T0700 (Normat) zone and the Karator zone was estimated manually using
the polygonal method.  The size of the blocks were 10m x 5m x 10m and the top
elevation was 2900masl and the bottom elevation was 2100masl.  Indicated
resources were projected a maximum of 50m from the nearest ore-grade
intersection.  The minor amounts ( < 5%) of near surface oxidised ore were not
differentiated.


Competent Person

Dr. Richard James Fletcher is qualified to act as a 'competent person' as
defined in the 'Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves' and accepts responsibility for the information on
Exploration Results and Mineral Resources in this report.  Behre Dolbear affirms
that Mr Fletcher:-

•    has more than 10 years experience in the former Soviet Union region,

•    is a Fellow of the Australasian Institute of Mining and Metallurgy,

•    has more than 40 years experience in the estimation, assessment and 
     evaluation of mineral resources and ore reserves that is relevant to the 
     styles  of mineralisation and the types of deposits under consideration.


About the Chaarat Gold Project

The Chaarat project is situated within the Middle Tien Shan Mountains of
Kyrgyzstan which form part of the Tien Shan gold belt. The Company's exploration
programme is aimed at increasing the confidence levels in the resource through
infill drilling and increasing the resource to four million ounces, through
down-dip and along-strike extension drilling. In addition, the company intends
to explore the remaining gold occurrences outside of those currently drilled in
the central six kilometres of the 28 kilometres of strike length within the
Chaarat Licence Area.


About Chaarat Gold Holdings

Chaarat is an exploration company founded for the purpose of developing the
Chaarat License Area. Chaarat was admitted to AIM on 8 November 2007.  The
Company has 71.9 million shares issued (78.4 fully diluted).



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 herein to reflect any change in
Chaarat's expectations with regard thereto 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.



Enquiries:

 
Chaarat Gold Holdings Ltd                       Tel:  [phone]
Dekel Golan  - [e-mail]
Terry Cross   -  [e-mail]
Canaccord Adams Limited                         Tel:  [phone]
Mike Jones
Robin Birchall




                      This information is provided by RNS
            The company news service from the London Stock Exchange