Statement re Chaarat Exploration Update

Chaarat Gold Holdings Ltd

                          ("Chaarat" or "the Company")

   Drilling intersects additional significant mineralisation in the Main Zone
             Project Areas at the Chaarat Gold Property, Kyrgyzstan

 Road Town, Tortola, British Virgin Islands, 14 January 2010.

 Chaarat Gold Holdings Ltd (AIM:CGH)is pleased to announce further positive
 drilling results from the ongoing exploration programme on the Main Zone at
 its 100% held, 604 sq km, Chaarat Licence Area in western Kyrgyzstan.

 The Chaarat License Area comprises three parallel zones of gold
 mineralization, namely, the Main Zone, the Contact Zone and the Tulkubash
 Zone. The Main Zone is host to a JORC compliant resource of 1,597,000 oz at a
 grade of 4.31 g/t Au and has been delineated over a strike length of four
 kilometres. It has been further sub-divided into seven project areas for
 convenience of exploration.  This announcement including a location map at can
 be found at www.chaarat.com/press-releases.

 Highlights (True widths)


   Project M3000   CCH09M3094   21.00m    at   3.10 g/t Au

                   CCH09M3094   22.44m    at   5.75 g/t Au

                   CCH09M3094   15.84m    at   7.51 g/t Au



   Project M2400   CCH09M2491     6.53m   at   4.20 g/t Au

                   CCH09M2491     3.26m   at   4.78 g/t Au

                   CCH09M2491     2.20m   at   6.03 g/t Au

                   CCH09M2492   15.77m    at   2.54 g/t Au

 Dekel Golan    , CEO of Chaarat, comments "These seven holes, in addition to
 the 87 holes already drilled in the Main Zone delineate a system with the
 grade, width and strike extension to support a major mining operation. Whilst
 only a limited portion of the Main Zone is likely to be mined by open pit
 methods, the system lengths may support a significant underground mining rate.

 These results will form part of the revised resource statement, which will be
 released later this quarter, and further encourage the Company in pursuing,
 with increased confidence, its intention to establish a low cost bulk mining
 operation".

 General Description of the Main Zone
 The Main Zone is one of the three major mineralization trends of Chaarat.
 Mineralisation in the Main Zone is hosted in a 10-15 metre wide shear zone,
 which extends for at least four kilometres on strike, as an anatomising strike
 slip fault system, within the Ordovician age Chaarat Formation (siltstones and
 sandstones). The mineralised zones dip at 70-80 degrees to the NW. The gold is
 associated with sulphides, sericitic alteration and minor quartz veinlets. Of
 the seven identified mineralized bodies along the strike, work was focused on
 four Project Areas - the M2400, M3000, M3900 and M6000 Project Areas.

 Based on drilling completed in 2008, a JORC compliant (indicated and inferred)
 resource containing 1,597,000 oz at a grade of 4.31 g/t Au had been delineated
 in the Main Zone Project Areas to depths varying between 150 metres to 300m
 metres, down the dip from outcrop. The mineralisation remains open down dip
 all along the Main Zone.  The resources defined in the Main Zone include
 almost half of the total resources defined at Chaarat where, to date, most of
 the resources are hosted by the Contact Zone.

 Only three of the seven bodies were drilled during the 2009 season and the
 results are included in this announcement. In total 1811.50 metres were
 drilled in the Main Zone during the season.

 Project M2400 - Prior to the drilling report herewith it was estimated by SRK
 that this project contained 410,000 ounces at a grade 4.37 g/t of Au and
 extends to a strike of 600 metres. The mineralization is open down dip and was
 previously proven to a depth of 260 metres.

 Drilling this year extended the strike of the project from 600m to 680m. The
 revised resource report is expected to be released at the end of Q1 this year.


            |       |            |       |        |       |
            |       |            |Drilled|        | True  |
            |       |Drilled From|  To   | Length | width |
  Hole ID   |Section|  (metres)  |(metres|(metres)|(metres|Au(g/t)
 -----------+-------+------------+-------+--------+-------+--------
  CCH09M2491| 2040  |   64.50    | 73.50 |  9.00  | 6.53  | 4.20
 -----------+-------+------------+-------+--------+-------+--------
  CCH09M2491| 2040  |   82.50    | 88.50 |  6.00  | 4.35  | 2.98
 -----------+-------+------------+-------+--------+-------+--------
  Including | 2040  |   84.00    | 88.50 |  4.50  | 3.26  | 3.57
 -----------+-------+------------+-------+--------+-------+--------
  CCH09M2491| 2040  |   107.30   |109.50 |  2.20  | 1.56  | 3.10
 -----------+-------+------------+-------+--------+-------+--------
  CCH09M2491| 2040  |   114.00   |118.50 |  4.50  | 3.26  | 4.78
 -----------+-------+------------+-------+--------+-------+--------
  Including | 2040  |   114.00   |117.00 |  3.00  | 2.20  | 6.03
 -----------+-------+------------+-------+--------+-------+--------
  CCH09M2491| 2040  |   187.80   |193.80 |  6.00  | 4.35  | 2.20
 -----------+-------+------------+-------+--------+-------+--------
  CCH09M2491| 2040  |   202.80   |205.80 |  3.00  | 2.20  | 4.91
 -----------+-------+------------+-------+--------+-------+--------
  CCH09M2491| 2040  |   220.50   |223.50 |  3.00  | 2.20  | 3.74
 -----------+-------+------------+-------+--------+-------+--------
  CCH09M2492| 1960  |   174.00   |193.50 | 19.50  | 15.77 | 2.54
 -----------+-------+------------+-------+--------+-------+--------
  Including | 1960  |   178.50   |183.00 |  4.50  | 3.64  | 3.78
 -----------+-------+------------+-------+--------+-------+--------
  Including | 1960  |   188.70   |193.50 |  4.80  | 3.88  | 3.41
 -----------+-------+------------+-------+--------+-------+--------
  CCH09M2493| 1960  |   92.00    | 95.00 |  3.00  | 2.70  | 2.83
 -----------+-------+------------+-------+--------+-------+--------
  CCH09M2493| 1960  |   210.50   |216.50 |  6.00  | 5.40  | 2.78
 -----------+-------+------------+-------+--------+-------+--------
  CCH09M2493| 1960  |   233.00   |234.50 |  1.50  | 1.35  | 4.33
 -----------+-------+------------+-------+--------+-------+--------
  CCH09M2493| 1960  |   254.20   |258.80 |  4.60  | 4.14  | 2.42
            |       |            |       |        |       |

 Project  M3000 - Prior to the drilling report herewith it was estimated by SRK
 that this project contained 580,000 ounces at a grade of 4.43 g/t of gold and
 extends to a strike of 350 metres. The mineralization is open down dip and was
 defined by drilling to the depth of 300 metres.

 +----------+-------+------------+-----------+-----------+-----------+--------+
 |          |       |Drilled From|Drilled To |  Length   |True width |        |
 |Hole ID   |Section|  (metres)  | (metres)  | (metres)  | (metres)  |Au (g/t)|
 +----------+-------+------------+-----------+-----------+-----------+--------+
 |CCH09M3094| 3160  |   173.00   |  175.00   |   2.00    |   1.32    |  2.54  |
 +----------+-------+------------+-----------+-----------+-----------+--------+
 |CCH09M3094| 3160  |   186.00   |  218.00   |   32.00   |   21.00   |  3.10  |
 +----------+-------+------------+-----------+-----------+-----------+--------+
 |Including | 3160  |   186.00   |  190.00   |   4.00    |   2.64    |  7.90  |
 +----------+-------+------------+-----------+-----------+-----------+--------+
 |CCH09M3094| 3160  |   226.00   |  260.00   |   34.00   |   22.44   |  5.75  |
 +----------+-------+------------+-----------+-----------+-----------+--------+
 |Including | 3160  |   226.00   |  250.00   |   24.00   |   15.84   |  7.51  |
 +----------+-------+------------+-----------+-----------+-----------+--------+
 |CCH09M3094| 3160  |   269.50   |  274.00   |   4.50    |   2.97    |  2.36  |
 +----------+-------+------------+-----------+-----------+-----------+--------+
 |CCH09M3095| 3240  |   144.00   |  150.00   |   6.00    |   4.00    |  2.35  |
 +----------+-------+------------+-----------+-----------+-----------+--------+
 |CCH09M3095| 3240  |   157.50   |  163.50   |   6.00    |   4.00    |  2.65  |
 +----------+-------+------------+-----------+-----------+-----------+--------+
 |CCH09M3096| 3240  |   178.50   |  187.50   |   9.00    |   6.18    |  3.42  |
 +----------+-------+------------+-----------+-----------+-----------+--------+
 |CCH09M3096| 3240  |   204.00   |  205.50   |   1.50    |   1.03    |  4.42  |
 +----------+-------+------------+-----------+-----------+-----------+--------+
 |CCH09M3096| 3240  |   208.50   |  211.50   |   3.00    |   2.06    |  2.32  |
 +----------+-------+------------+-----------+-----------+-----------+--------+
 |CCH09M3096| 3240  |   250.50   |  255.00   |   4.50    |   3.09    |  3.26  |
 +----------+-------+------------+-----------+-----------+-----------+--------+


 M6000 Project: Prior to the drilling report herewith it was estimated by SRK
 that this project contains 110,000 ounces of Au at a grade of 5.07 g/t along a
 strike of 400 metres. The mineralization remains open down dip and has been
 confirmed by drilling to the depth of 200 metres.

 Only one hole was drilled in this Project this year.

 +-------------+-------+-----------+-----------+-----------+----------+-------+
 |             |       |  Drilled  |           |           |          |       |
 |             |       |   From    |Drilled To |  Length   |True width|Au     |
 |Hole ID      |Section| (metres)  | (metres)  | (metres)  | (metres) |(g/t)  |
 +-------------+-------+-----------+-----------+-----------+----------+-------+
 |CCH09M6093bis| 6200  |   89.50   |   92.50   |   3.00    |   2.20   | 2.58  |
 +-------------+-------+-----------+-----------+-----------+----------+-------+


 QA/QC Procedures: Sampling Methodology and Quality Control
 All samples are sent to a laboratory in Kyrgyzstan, Alex Stewart, accredited
 by the UK Accreditation Service, for sample preparation and assays. Genalysis,
 Australia, a NATA ISO/IEC 17025 accredited laboratory for analysis is being
 used for QA/QC check of the analyses of Alex Stewart. 20% check samples in
 form of 2 Standards, 1 Blank and 1 Duplicate in a batch of 20 samples are
 being used for quality checks of the Alex Stewart assays.

 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.

 Chaarat Gold Holdings
 Chaarat Gold Holdings is an exploration company operating in the Kyrgyz
 Republic with its current main activity being the development of the Chaarat
 Gold Project. The Project is situated within the Middle Tien Shan Mountains of
 Kyrgyzstan which form part of the Tien Shan gold belt. The Company has
 delineated thus far a JORC compliant Mineral Resource of 3.34Moz at a grade of
 4.30 g/t gold. A scoping study demonstrating the economic viability of the
 project was completed at the end of 2008. The Company is currently in the
 process of compiling a pre-feasibility study.  Following the continuous
 exploration works undertaken during 2009 the Company expects to announce an
 updated Resource Report in the first quarter of 2010. Chaarat's objective is
 to become a low cost gold producer targeting an initial production of over
 200,000 ounces per annum by late 2012.

 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.



 Enquiries


  Chaarat Gold Holdings Ltd

  c/o Central Asia Services Ltd  [phone]

  Dekel Golan                    [e-mail] <mailto:[e-mail]>

  Linda Naylor                   [e-mail]
                                 <mailto:[e-mail]>


  Canaccord Adams Limited        [phone]

  Mike Jones



  Smith's Corporate Advisory     [phone]

  Dominic Palmer-Tomkinson       [e-mail]
                                 <mailto:[e-mail]>



  Conduit PR                     [phone]

  Jos Simson                     [e-mail] <mailto:[e-mail]>

                                                                                

[HUG#1373259]