Drilling Report

Eurasia Mining PLC
7 February 2002

EURASIA RESUMES DRILLING AT VISSIM AND SOSVAR



Eurasia Mining PLC is pleased to announce the resumption of drilling on the
Vissim and Sosvar alluvial platinum projects in the Russian Urals.



Drilling has restarted on the Vissim chromite-platinum project on which highly
encouraging results were announced in November 2001. To date two holes of a
planned 30 hole resource definition programme have been completed. The objective
is to define resources on two sites along the Vissim River that could provide
the location for the start-up of a mining operation.



Negotiations are proceeding to acquire, through purchase, a churn drill suitable
for the large-scale sampling. This will be required for the preparation of bulk
concentrates of chromite for trial marketing and also to produce large samples
for the design of optimum recovery processes for both chromite and platinum.



Drilling on the Sosvar licence, 300 kilometres North of Vissim, is planned to
start in late February once the ice cover on the large swamp covered target area
is sufficiently thick to bear the weight of the exploration equipment. This area
was not accessible during the summer following the grant of the licence. The
basin target is postulated on the basis that it appears to form a trap site
lying several kilometres down drainage from a known platinum-bearing intrusive.
It has not previously been mined or tested,



Geological interpretation indicates that the basin is separate from the current
river drainage. It is inferred that the basin was most probably formed and
filled at a different time and under different climatic conditions to those that
currently obtain in the river. The recognition of such differences is an
important aspect of alluvial deposit exploration. The concept of different
conditions and hence different alluvial potential for the basin and current
river channel is supported by the results of the year 2001 drill holes, which
for access reasons had to be concentrated on the current river channel.



The thin boulder rich sediments intersected in the drill holes located adjacent
to the current river channel contained low to insignificant concentrations of
platinum.  Alluvials targeted in the forthcoming drilling programme in the
untested basin are expected to differ considerably in both thickness and
composition.



Primary alluvial deposits require detailed drilling for an assessment of
meaningful grade, thickness and volumes. Further announcements will be made
after the results of the major part of the Sosvar programme have been assessed.



The alluvial projects are operated by Eurasia as part of a 50:50 joint venture
funded by Anglo Platinum. Approximately US$250,000 remains from the 2001/2
exploration season budget to complete the winter programme. The year 2002/3
programme has been discussed in principle and will be announced on formal
approval.



Dr Michael Martineau, Executive Deputy Chairman, said 'Recent results from the
alluvial programme are most encouraging. The current winter drill programme will
provide definitive tests of two key, but very different, targets. I look forward
with some excitement to entering the production decision stage at Vissim and the
possibility of a major discovery at Sosvar during 2002'



                                                                 7 February 2002



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