Further Drill Results

Chaarat Gold Holdings Ltd
09 January 2008


For immediate release                                          10th January 2008



                           Chaarat Gold Holdings Ltd

                          ('Chaarat' or 'the Company')

   Chaarat Gold Holdings Ltd (AIM:CGH) Reports Further Positive Drill Results 
            from Wide Zones the Contact Zone at the Chaarat Property

Road Town, Tortola, British Virgin Islands (10th January 2008).

Chaarat is pleased to announce further positive drilling results from 15 drill
holes in the Contact Zone at its 100% held, 604 sq km Chaarat Licence Area in
western Kyrgyzstan. All 15 of the holes, comprising 3550 metres of drilling,
intersected significant gold mineralisation and were all drilled during the
recently completed 2007 programme on two Project Areas along the Contact Zone,
the C5300  and C4600 Project Areas. The drilling on the Contact Zone was part of
a broader 53 drill hole (10,200 metres) 2007 programme which was completed
during December (see press release of 6th December 2007).

The Contact Zone is one of three zones in the Chaarat Licence Area, in which
gold mineralisation has been discovered, and comprises some 10 kilometres of
strike and includes, inter alia, the C5300 and C4600 Project Areas. The recent
drilling has extended the mineralisation in these Project Areas and has
intersected significant additional mineralised zones in the hanging wall and
footwall.

Highlights

In the C5300 Project Area
Drill hole 117  10.50 metres* at 4.43 g/t Au
Drill hole 135  33.00 metres at 4.71 g/t Au
Drill hole 136    6.00 metres at 5.72 g/t Au  and         16.5 metres at 3.3g/t Au
Drill hole 139  14.50 metres at 5.00 g/t Au and           4.50 metres at   6.13 g/t Au
Drill hole 140  14.00 metres at 4.86 g/t Au, including 3.00 metres at 14.69 g/t Au

*These are drilled width intercepts and not true thickness.

True widths given in the tables below have been measured from sections drawn 
through the drill lines. These may change slightly when the Resources are 
updated upon receipt of all 2007 results.

In the C4600 Project Area

Drill hole 157  3.00 metres at 11.87 g/t Au
Drill hole 158  16.5 metres at  3.50 g/t Au

In road cut at C4300

Bulldozer Cut 790:  2.00 metres at 22.7 g/t Au and 248 g/t Ag.

Comments Dekel Golan, CEO of Chaarat: 'We are delighted with these results,
which confirm our view of the extensive nature of the gold mineralisation in
wide zones at Chaarat. We are particularly pleased that drilling has returned
some high grade intersections and wider zones, and that we have managed to
extend the mineralisation in the Contact Zone Project Areas, both down dip and
along strike. The added value of the high silver grades drilled in parts of the
Contact Zone is also encouraging. It is also significant that we have discovered
new mineralised zones in the hanging wall and the footwall, which enhances the
exploration potential to delineate multiple zones of mineralisation.'

Table 1: Contact Zone Drilling Results, 2007

 Project   Drill hole     From        To     length (m) True width  Au grade  Ag grade     Au eq*
   Area        No       (metres)   (metres)                (m)        (g/t)        g/t    grade g/t                     
                       
  C5300       DH117      203.5      206.5        3         2.5         2.5         36        3.22
  C5300       DH117       415        451         36        18.5       2.92         16        3.24
  C5300     including    440.5       451        10.5       5.45       4.43         25        4.93
  C5300     including     415       422.5       7.5        3.9        3.51         24        3.99
  C5300       DH117      497.5       499        1.5         -         9.31         1         9.33
  C5300       DH122        44        90.5       46.5        44        1.15         6         1.27
  C5300       DH123      118.5      127.5        9         2.5        1.16         7          1.3
  C5300       DH123      148.5       174        25.5       5.5        1.25         5         1.35
  C5300     including    148.5      151.5        3         0.85       3.27        14.5       3.56
  C5300       DH134      133.5      136.5        3          -         2.51         27        3.05
  C5300      DH 135       62.5        67        4.5        3.9        3.93         59        5.11
  C5300       DH135      202.5      244.5        42        10.5        4.2         26        4.72
  C5300     including    211.5      244.5        33        8.25       4.71         32        5.35
  C5300       DH136        81        85.5       4.5        2.8        2.19        312        8.43
  C5300       DH136       102       142.5       40.5       21.6       2.18         9         2.36
  C5300     including     126        132         6         3.6        5.72         12        5.96
  C5300     including     126       142.5       16.5        10         3.3         9         3.48
  C5300       DH137        52        62.5       10.5        -         1.59         15        1.89
  C5300       DH137      142.5      145.5        3          -         2.91         17        3.25
  C5300      DH 138      106.5      113.5        7         4.2        2.66         12         2.9
  C5300       DH139       185       214.5       29.5       9.6        3.65         20        4.05
  C5300     including     185       199.5       14.5       4.75         5          30         5.6
  C5300     including     210       214.5       4.5        1.45       6.13         22        6.57
  C5300       DH139       286        289         3          -         13.61        1         13.63
  C5300       DH140       189        203         14        6.4        4.86         15        5.16
  C5300     including     189        192         3         1.4        14.69        41        15.51
  C5300       DH141       62.5       66.5        4          4         3.38         51        4.61
  C5300       DH143       67.5       70.5        3          -         3.45         84        5.13
  C5300       DH143      189.5       197        7.5        2.4        5.01        13.4       5.28
  C4600       DH157       148        151         3         2.1        11.87        44        12.75
  C4600       DH158      195.5      228.5        33        22.8        2.2         30         2.8
  C4600     including    195.5       212        16.5       11.4       3.15         33        3.81
  C4600       DH161       198       202.5       4.5        3.2        3.04         54        4.12

* Eq Au in this release is obtained by using an Au/Ag price ratio of 50:1


QA/QC PROCEDURES

Sampling Methodology and Quality Control

All samples are sent to a laboratory in Kyrgyzstan, the Central Scientific
Research Laboratory, JSC Kara Balta, (CSRL), accredited by the UK Accreditation
Service, for sample preparation and initial assays. All samples with gold above
1 g/t are then submitted to Genalysis, Australia, a NATA ISO/IEC 17025
accredited laboratory for analysis by fire assay. Only results received from
Genalysis are included in the Mineral Resource database and the intercept
summaries in this press release, except for one hole DH 161. Comparison of
assays from the two laboratories shows a small bias with Genalysis reporting
higher values but with an acceptable HARD value variance on the averages. With
the 817 samples submitted to Genalysis, 71 were internationally recognised
reference materials and of these only one value was marginally outside the
accepted range. It is concluded that the Genalysis assays are of sufficient
quality to be included in the Resource database although no up-dated Resource
has been estimated at this stage.

The Contact Zone

Mineralisation in the Contact Zone is hosted by a 10-15 metre wide shear zone
which extends for at least 10 kilometres along the contact between the
underlying Ordovician Chaarat Formation (siltstones and sandstones) and the
overlying Devonian Tulkubash Formation (quartzites). The mineralised zones dip
at 50-60 degrees to the NW. The gold mineralisation is associated with
sulphides, sericitic alteration and minor quartz veinlets. Locally high silver
and antimony values are associated with the gold mineralisation.  Prospecting to
date has been focused mainly on three Project Areas within the contact zone, the
C5300, C4600 and C4000 and the mineralisation has been traced over a cumulative
strike length of 1,900 metres. Based on drilling to the end of 2006, a JORC
compliant (indicated and inferred) resource containing 903,000 oz at a grade of
3.8 g/t Au had been delineated in the Contact Zone Project Areas to depths of
150-270 metres down the dip, except for one drill hole where exploration was
carried to 400m down dip. When Ag is added, the resource is 1 MOZ at an average
equivalent grade of 4.22 g/t. Surface exploration undertaken this year
substantiates earlier indications for the existence of additional mineralised
bodies above and below the Contact Zone. The strike length of the C5300 zone has
been extended by drilling to 490m.

For better understanding of the structure and significance of the results the
reader is referred to the maps at the end of this press release.

C5300 Project Area

During 2007, a total of 12 drill holes (2823 metres) were completed on the C5300
Project Area, bringing the total number of holes to 25. Of the recently
completed holes, 10 were infill drilling, which reduced the drill spacing to 40
metres in some parts of the body, one tested the down dip extension and one
drilled the strike extension to the mineralisation. As a result of this
drilling, the strike length of the mineralisation increased from 450 metres to
490 metres and the down dip extent of the mineralization increased in an
additional section from 250 metres to 460 metres down dip and remains open at
depth and along strike to the south west.

Significantly, the deeper drilling indicates that the mineralised zone appears
to increase in width with increasing depth (Table 2). In the 2006 resource
estimate for mineralisation down to a depth of 120-250 metres down dip in most
sections, the average mineralised widths were measured at 5.8 metres, whereas
the one deep hole drilled in 2006 and recent deeper drilling indicates the
mineralisation is between 10 and 15 metres wide in the depths ranges of 290 to
460 metres, down dip below outcrop.

Table 2: C5300 Project Area - Mineralised Width and Depth Relationship.

 C5300      dh    Intersection from (m)   to (m)    length     True     Au g/t    Ag g/t   Au eq g/t
  grid             elevation                          (m)    width (m)
section               ASL

C 0+ 680  dh135       2392       202.5     244.5     42.00     10.00     4.21       26       4.73
C 0+ 640   dh86       2260       448.5     469.5     21.00     12.30      3.1       11       3.32
C 0+ 590  dh139       2456        185      214.5     29.50     9.60      3.58       19       3.96
C 0+ 550   dh56       2469       181.9     200.5     18.60     7.00      3.81       17       4.15
C 0+ 480  dh117       2286        415       451      36.00     18.50     2.92       16       3.84
C 0+ 420  dh 143      2515       189.5      197      7.50      2.40      5.01      13.4      5.28

Elevation is  absolute elevation (ASL) at the bottom of the mineralized interval
Hole locations are shown on the map below

Additional Mineralization in Hanging Wall

The recent drilling also intersected additional mineralised zones in the hanging
wall and in the footwall of the principal mineralisation in the Contact Zone,
which indicates multiple zones within the broader mineralised envelope. Five
holes intersected a shallow-dipping mineralised zone in the hanging wall over a
strike length of 200 m in the centre of the Project Area (Table 3). This
mineralisation is of lower grade than the principal zone but is between 2.5 and
10 m wide with gold grades of between 2.2 and 3.45 g/t and variable but high
associated silver values.

This mineralised zone is situated between 35 and 180 metres in the hanging wall
of the principal mineralised zone. It remains open down dip and represents an
additional drilling target.

Table 3: Hanging Wall Mineralisation in the C5300 Project Area

C5300 grid    Drill    from (m)     to (m)    length  True width   Au g/t     Ag g/t     Au eq
  section     hole                             (m)       (m)

  C 0+510     DH117      203.5      206.5        3        2.5       2.5         36        3.22
  C 0+650     DH135      62.5         67       4.5       3.9        3.4         59        4.58
  C 0+640     DH136       81         85.5      4.5       2.8        2.19       445       11.09
  C 0+640     DH136       126       142.5      16.5       10        3.3         10        3.5
  C 0+450     DH143      67.5        70.5       3        2.5        3.45        84        5.13

Footwall Mineralization

In addition to the mineralizations described above, two drillholes intersected a
narrow high grade (3.00  metres at 9.31 g/t and 1.50 metres 13.61 g/t Au)
mineralised zone, situated 30-50 metres in the footwall of the main zone(Table
2). The potential of this zone will be determined by further drilling.

Table 4: Footwall mineralisation in the C5300 Project Area

         Section           Drill hole   From (m)     To (m)   Length (m)    Au g/t   Ag    Au eq.
                                                                                     g/t
         C 0+600              DH139        286        289          3        13.61     3    13.66
         C 0+450              DH117       497.5       499         1.5        9.31     2     9.35

C4600 Project Area

During 2007, three holes (726.5metres) were completed on the C4600 Project Area,
bringing the total number of holes drilled on this Area to nine. These holes
were drilled from the hanging wall side (as opposed to last year's shallow
drilling from the footwall side) and give a clearer picture of mineralisation.
Drilling indicated an increase in the width of the mineralisation in this zone
compared to drilling from the foot wall side, which had cumulative widths of
between 7 m and 11 m (DH 158 intersected 16.5 metres at 3.15g/t Au). Drilling in
the south west of the Project Area indicates that the mineralised zone is
narrower (DH 157, 3 metres at 11.87g/t Au) but has considerably higher grades.
Silver grades are between 30 and 54 g/t. Mineralisation remains open at depth
and along strike to both the north east and south west.

Table 5: C4600 Project Area Drilling Results

C4600 grid  Drill hole   From (m)    To (m)   length (m)  True width    Au g/t     Ag g/t   Au eq g/t
Section                                                       (m)
                                                              
  C 0-50       DH157       148        151          3          1.9       11.87        44       12.75
  C 0+80       DH158      195.5      228.5        33          23         2.2         30        2.8
  C 0+80     including    195.5       212        16.5        11.4        3.15        33        3.81
   C 00        DH161       198       202.5        4.5         2.9        3.04        54        4.12

Road cuts:

Results from outcrops in road cuts between C4600 and C4000 returned the following grades:

 Location   True Width    Au g/t     Ag g/t      Sb %     Au eq g/t
                (m)
   C4250         3         5.03        72        0.37       6.47
   C4300         2         22.7       248        1.08       27.66

These new outcrops are located 100m to the NE of the northernmost trench of zone 
C4000 and present additional scope for expansion of resources in this direction.

Additional work and results:

The Company is currently receiving and processing assay results from a further
40 holes drilled in 2007 on the Main Zone Project Areas (M2400, M6000) and the
outstanding Contact Zone Project Area (C4000), as well as for the Tulkubash Zone
and regional prospecting. These results, as well as an updated resource
statement, and the results of ongoing metallurgical testwork and the scoping
study will be released periodically, as the work is completed, over the next
three months.

The excavation of the exploration adit on the C5300 Project Area is continuing
and underground drilling of the mineralisation from the adit access is scheduled
to commence in February.

Competent Person

The Competent Person with overall responsibility for this press release is
Anthony Martin, PrSciNat, MGSZ, MAuS IMM, PhD who is an employee of SRK
(Zimbabwe) (Pvt) Limited.  Dr Anthony Martin is an exploration geologist with 35
years experience in the resource industry and has been responsible for the
reviewing of exploration programmes on various properties internationally during
the past five years and the Chaarat project since August 2005; he has made four
site visits since that time.

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.  At the completion of the
2006 exploration season, a Mineral Resource of 1.87Moz Au (JORC compliant in the
Indicated and Inferred categories) had been delineated. The Company's
exploration programme is aimed at increasing the confidence levels in this
Resource through infill drilling and increasing the resource 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
6km of the 40km strike length within the Chaarat Licence Area.

About Chaarat Gold Holdings or The Company

Chaarat Gold Holding is an exploration company founded for the purpose of
developing its sole asset, being the Chaarat License Area. Chaarat was admitted
to AIM on 8 November 2007.

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









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