Drilling Report

Eurasia Mining PLC
15 November 2006





                               Eurasia Mining Plc

                          ('Eurasia' or the 'Company')


 New drill results indicate strong potential for platinum group metals targets


Eurasia Mining plc is pleased to announce successful drilling results indicating
potential for underground and open-cast platinum mining targets on its Joint
Venture Monchetundra licence in the Kola Peninsula of north-west Russia.


The results, from drilling up until last August, show platinum plus palladium
grades ranging between 1.7 and 8.4 grams per tonne (g/t) across two of the four
zones currently being drilled at Monchetundra - Zone 2 and Zone 3.


Zone 2 contains intercepts of PGM at a width and grade which could be of
interest for underground mining. This horizon has been identified on two drill
hole lines which are 400 meters (m) apart.


Section             Hole No.          From (m)            To (m)         Interval (m)     Pt+Pd (g/t)


Line 105               MT-4                75.6            78.6         4.0                    1.7

                       MT-3              149.6           150.6          1.0                    3.6


Line 109               UM-3              187.4           191.0              3.6                8.4



Ongoing drilling is designed to test for continuity of mineralization between
these traverses and also explore Zone 2 over the remainder of its projected 6 km
strike length. A further 5 km of strike length where geological knowledge is
currently low also remains to be tested.


The second target, in Zone 3, consists of wide intercepts of low grade
mineralization that are considered a target for open pit mining. The
mineralization is associated with sulphides, including pyrrhotite and
chalcopyrite; it appears to be transgressive and not restricted to one
particular rock association.



Section             Hole No.           From (m)           To (m)     Interval (m)      Pt+Pd (g/t)


Line 126               UM-7                83.0             89.7             6.7               1.8

                       UM-7               112.7            128.0            15.3               2.2


Line 132               MT-6                43.7             61.7            18.0               1.7
Line 136               UM-9                38.8             74.7            35.9               1.8



As with Zone 2, the drilling lines on Zone 3 are widely spaced and infill
drilling is required to test continuity of mineralization between them.

Average platinum to palladium ratio 0.6:1.

A further 4,000 metres of drilling to test the mineralised zones is planned for
2007, at up to 80 locations.

Eurasia Managing Director Christian Schaffalitzky said: 'The results endorse the
potential for platinum group metals (PGM) mineralisation on the Monchetundra
licence. Although this is still an early step in our assessment of its
commercial potential, we are particularly encouraged by the substantial widths
and relatively high platinum to palladium ratio of the mineralisation, in view
of the fact that the price of platinum is approximately three times higher than
palladium.  We look forward to releasing additional results over the coming
months.'

Monchetundra, near the city of Monchegorsk on Russia's Kola Peninsula, is one of
three licences held within the Eurasia / Anglo Platinum Joint Venture in the
region. Initial appraisal work is also underway on the other two licences,
Volchetundra and West Imandra.

As set out in the announcement dated February 13th 2006, Anglo Platinum, the
world's largest platinum producer, is funding the first US$10,000,000 of
exploration spending in return for a 40% stake on all three licences - expected
to underpin operations until at least the end of 2008. Eurasia holds the
remaining 60% stake in all three licences. Spending at Monchetundra has to date
reached around US$800,000 with around twice that amount earmarked for the next
phase of drilling on the two most promising zones - Zone 2 and Zone 3.

The Joint Venture's three Kola Peninsula licences cover a total of 450 sq km on
a geological trend where the Canadian groups Barrick Gold and Consolidated Puma
Minerals Corporation are carrying out advanced exploration and feasibility
studies on nearby deposits.


For further information contact:


Christian Schaffalitzky, Michael Martineau or
Michael de Villiers, Eurasia Mining Plc:                    [phone]
Laurie Beevers, W H Ireland:                                [phone]
Allan Piper, First City Financial Public Relations:         [phone]
Nicholas Bealer, King & Shaxson Capital Limited             [phone]



Further details of exploration work at Monchetundra will be provided on the
company's web site www.eurasiamining.co.uk


                      This information is provided by RNS
            The company news service from the London Stock Exchange