Drilling Report

Eurasia Mining PLC
13 July 2001

EURASIA MINING INCREASES INTEREST AND RESTARTS PALLADIUM DRILLING IN RUSSIA

Drilling has recommenced at Eurasia's Baronskoye Palladium-Gold Project in the
Urals, Russia.

Eurasia's interest, net of third parties, has been increased from 35% to 66.3%
following negotiations with its partners.  As part of the agreement Eurasia
will make increased use of the equipment and skilled technical staff of its
Russian partner UGME.

A new licence, the Baranchinskoye licence, granted in May increases the
project area from 39 to 370 sq km. The new licence covers the western portion
and major mass of the same 'Complex' that hosts the Baronskoye and Kluevsky
deposits. Further appraisal of the exploration data plus new work this year
has shown that the Palladium mineralisation is more extensive than previously
realised. It has also revealed more of the controls on mineralisation which
the Company believes should be repeated on the Baranchinskoye licence.

Three holes in the new programme have been completed so far. These were
designed to test the extensions to the underground mining target on high-grade
Palladium Gold veins illustrated in the annual report. The holes are located
below and to the side of hole B13.  B13 contained 1.4 metres assaying 6.02 gm/
t Platinum Group Metals plus Gold at a vertical depth of 80 metres. Samples
are currently being processed and assays will be available from September.

On completion of the Baronskoye work in the next few days the drill will be
moved to recommence testing of the Kluevsky target. The Kluevsky area is
characterised by broad anomalous Palladium zones over widths of up to 100
metres. Eurasia's objective here is to locate consistent higher-grade zones
within this broad anomaly, and/or in similar anomalies that are anticipated
around the margins of the 'Complex' in the Baranchinskoye licence. The target
is one that would support a large-scale open pit operation similar to the Lac
des Isles mine in Ontario, Canada.



To assist in its programme Eurasia has employed a highly experienced
consultant geologist John Stockley who has worked on mines and projects with
similar geology in Canada and Scandinavia. His work has already resulted in
new targets and will be of major assistance in the exploration of the
Baranchinskoye Licence.



Eurasia's Kluevsky discovery and the recognition of its large scale potential
has sparked international competitor interest. This has resulted in land
applications to explore for similar targets in the Urals by companies such as
Placer Dome. Whilst Eurasia welcomes the recognition of its peer group it has
also taken action to protect its advantage through an acceleration of its
regional work.



Dr Martineau, Executive Deputy Chairman said 'Eurasia has the distinction of
being the leader in the exploration of an entirely new palladium mineral
province with the potential to host several mines. We hold the advantage of
understanding the mineral controls and hold the first, best mineralised and
most accessible 'complex'. Above all Eurasia has an outstanding Russian team
and understanding of operating in Russia and the Urals. We propose to build on
this position'.



                                                                  13 July 2001



Listing:             Alternative Investment Market, London Stock Exchange
Code:                EUA
Web Site:            www.eurasia-mining.plc.uk
Email:               [e-mail]

For further information please contact:

Michael Martineau - Executive Deputy Chairman         Tel: + 44 (0) 20 7976 1222
Laurie Beevers - WH Ireland                           Tel: + 44 (0) 7903 164 004
John Molyneux - WH Ireland                            Tel: + 44 (0) 20 7397 3000
Tim Blackstone - Blackstone Business Communications   Tel: + 44 (0) 20 7251 2544