Drilling Report

Eurasia Mining PLC
30 July 2001



                                PRESS RELEASE



EURASIA MINING ANNOUNCES TWO NEW DRILLING PROGRAMMES ON URALS PLATINUM PROJECT


Eurasia Mining is pleased to announce two new drilling and exploration
programmes to look for alluvial platinum in the Urals of Russia. Drilling will
commence in September on the Vissim field, near Ekaterinburg, and in October
on a new licence in the Sosvinsky district 350 km further north. Both
projects, on acreage covering 165 sq km, will continue through the winter.

The new exploration programmes are part of the Urals Platinum Project, a 50-50
joint venture between Eurasia and Anglo Platinum, the world's largest platinum
producer. The project is managed by Eurasia, and funded with US$0.5 million
from Anglo Platinum for the 2001 exploration season.

Work on the Vissim field, which was commercially mined for more than a century
between 1824 and 1950, will seek to identify whether modern recovery
techniques can extract commercial deposits from the tailings left by the
earlier operations. Seismic surveys already underway to determine the volume
and location of the tailings will also seek to identify possible deeper '
virgin' channels beyond the reach of historic dredging techniques.

Bulk sampling of surface materials on the Vissim field has already started and
early results from qualitative hand processing of several samples are highly
encouraging. They show a concentration of residual platinum which, if
generally applicable, would be above that needed for economic viability.
Although the original mining operations recovered in excess of 5 million
ounces of platinum from Vissim, it is generally accepted that recovery factors
at the time averaged around 50%.

The new licence awarded further north in the Sosvinsky district covers an
inferred basin and potential 'trap-site' for platinum that has drained off the
platinum bearing Deneshkin Kamen ultramafic complex.  The target is a virgin
alluvial deposit near the surface but concealed beneath a swamp.

Seismic surveys being conducted on behalf of Eurasia at Sosvinsky indicate an
alluvial thickness of 15-21 metres and a volume in excess of 100 million cubic
metres. The objective of the drilling is to determine which parts of the basin
contain economic concentrations of recoverable platinum and to provide samples
for metallurgical testing. If successful, this programme will be followed by
resource definition drilling in 2002.

The Sosvinsky work is part of an ongoing programme of early stage or '
grassroots' exploration that Eurasia is carrying out in previously untested
areas throughout the Urals in parallel with assessment of tailings in the
established fields.

Dr Michael Martineau, Eurasia's executive deputy chairman, said, 'The planned
drilling, alongside the award of new acreage in Sosvinsky, underlines
Eurasia's continued commitment to to its platinum group metals projects in the
Urals following the Company's recently announced expansion into South Africa.'

He added that, 'The use of state of the art recovery methods has the potential
to revitalise these historic districts, as it has in many other parts of the
world. The Urals has been one of the world's most important sources of
platinum but it remains heavily unexplored in the context of modern recovery
techniques.'


                                                                  30 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