Proposed Placing of Shares

For immediate release 23 April 2009 Chaarat Gold Holdings Ltd ("Chaarat" or "the Company") Proposed placing of up to 19 million new ordinary shares (the 'Placing Shares') Road Town, Tortola, British Virgin Islands (23 April 2009). Chaarat (AIM:CGH, "the Company") today announces, following the announcement of 2 April 2009, its intention to place up to 19 million new Ordinary Shares at 12p per share (the 'Placing'). The funds will be used to complete the Prefeasibility Study and continue to undertake other activities aimed at enhancing shareholder value. The Placing The placing of the Placing Shares is being conducted through a book-building process to be carried out by Canaccord Adams, who is acting as bookrunner in relation to the Placing. The timing of the closing of the books and allocations are at the discretion of Chaarat and Canaccord Adams. The number of Placing Shares to be placed in the book-building process will be agreed by Chaarat and Canaccord Adams at the close of the book-building process. Details of the number of Placing Shares will be announced as soon as practicable after the close of the book-building process. The Placing will not be underwritten. The Placing Shares will be issued credited as fully paid and will rank pari passu with the existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid on or in respect of such shares after the date of issue of the Placing Shares. Enquiries: Chaarat Gold Holdings Ltd c/o Central Asia Services Ltd Tel: +44 (0) 20 7499 2612 Dekel Golan dekel@chaarat.com Harry Lopes harry.lopes@chaarat.com Canaccord Adams Limited Tel: +44 (0) 20 7050 6500 Mike Jones Smith's Corporate Advisory Tel: +44 (0) 20 7239 0140 Dominic Palmer-Tomkinson tomkinson@smiths-ca.com 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. ---END OF MESSAGE--- This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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