Final Results

Eurasia Mining PLC
9 June 2006


Eurasia Mining Plc

9 June 2006

PRELIMINARY ANNOUNCEMENT OF AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2005


Chairman's Statement

It is a pleasure to report to you this year as our company embarks on the major voyage that it has been charting for
over two years.  The company has completed the acquisition of four important platinum projects that will see substantial
investment this year at no cost to shareholders. We are managing these projects together with our partner Anglo Platinum
Limited and are starting new gold ventures, partly in alliance with AngloGold Ashanti Limited.

In February 2006 we announced an agreement for the purchase of two Russian companies holding three exploration licences
in the Kola peninsula near Murmansk in northwest Russia. Here, early results lead us to believe that exploration work
could lead to the discovery of significant platinum mineralization. Anglo Platinum agrees with us and through our joint
venture company we have commenced a work programme. This year we are undertaking a $2 million programme that will be
funded by Anglo Platinum but as work progresses we expect this to accelerate in 2007. Anglo Platinum is funding the
first $10 million of expenditure as part of our joint venture agreement, explained more fully in the Operations Report.
We are very encouraged by the early results from these areas and look forward to reporting on our work as the field
season progresses.

In the Urals, we were finally reissued with the exploration licence on the West Kytlim area for alluvial platinum and
fieldwork began immediately. The first drill rig arrived on site in September and work continued into the winter. We
reported our first detailed results to you in April 2006 and this has confirmed our confidence in this project.  The
excellent results hold out promise for the first two target areas, one of which is a new discovery. If work progresses
as planned this summer we hope to lodge an application for a mining licence for production in 2007. The aim of the
programme is to design a project capable of producing 15,000 ounces of platinum per annum, beginning in 2007. Further
exploration work will also be focused on other targets in the licence area, which could add to the potential.

In Siberia, we have been working with AngloGold Ashanti Limited on a number of gold targets and exploration projects for
which further information will be provided when final title has been established. Our efforts have been concentrated on
areas where there has been historic alluvial production from placer mining for decades but where bedrock exploration is
at an early stage. Our agreement provides for the first $2 million of expenditure to be provided by AngloGold Ashanti
before Eurasia begins to contribute an equal proportion of expenditure. In addition, the company has been assessing a
number of gold production opportunities in conjunction with a potential Russian partner.

In summary, we believe that Eurasia's work over the past two years has now borne fruit and we look forward to developing
the company into a significant presence in Russia. This development is set against a background of a changed mining
industry, both in Russia and worldwide. The major rise in commodity prices over the last three years is the main driving
force behind a dramatic increase in activity. The industry has become very competitive as a growing army of mining
companies move to secure mineral assets. At the same time, the increased activity has led to a shortage in both manpower
and materials, increasing capital and operating costs. However, we have deliberately held back from moving too quickly
in the current market, combining our own independent work with partnerships that spread the risk and reduce overheads on
higher risk activities. The plan in the coming year is to build on this solid platform and use the imminent revenue from
production to strengthen and expand our portfolio.

At the moment the company has a small and experienced board and management team that will be expanded as the company
grows. On a sad note, John Mitchell passed away during the year. John was a founder director and former chairman of the
company and his advice and support will be missed.

None of our success would have been possible without the dedication of our small but talented executive team based in
London, together with our professional staff working in Russia. Many of our Russian staff have been with the company for
some time and have sustained our efforts when life was not easy. On behalf of you all I thank them and look forward to
us all reaping the rewards in the coming years.



Dr. Michael Martineau
Chairman



OPERATIONS REPORT

Over the past twelve months Eurasia has completed the acquisition of four projects on which it has been working for
several years. This delay arose due to the formalities involved in completing both licence agreements as well as the
corporate transactions. In order to bring shareholders up to date with these projects this report summarises the
technical background of these areas, the results obtained to date, their potential and the plans for the future. The
information includes results up to April 2006.


Urals Alluvial Platinum Joint Venture

The Urals Alluvial Platinum project is a 50:50 joint venture with Anglo Platinum Limited, the largest platinum metal
producer in the world. It is operated by Eurasia through jointly owned Urals Alluvial Platinum Limited, a Cyprus
registered company. The joint venture commenced work in 2000 and has worked on a number of licences, seeking
economically viable alluvial platinum deposits in the Urals. This work is funded 100% by Anglo until a project
feasibility study has been completed. This year most of the work has concentrated on detailed appraisal of the West
Kytlim area.

Historical production of platinum from alluvials in the Urals region over the past 150 years totals some 500 tonnes (16
million ounces), and small scale production continues today. The joint venture has identified small platinum resources
over the last 5 years but to date most of these have been too small to be viable for the joint venture.

The joint venture continues to assess new areas for their platinum potential. Currently the  West Kytlim licence is the
only area held but it is expected that new areas will be applied for in the near future.

For a number of years the joint venture has been seeking to acquire an interesting area in the central Urals where it
seemed that significant untested potential for large alluvial platinum concentrations remained. In March 2005 an
exploration licence was granted for the West Kytlim area but work commenced only in September as a number of detailed
administrative issues had first to be clarified.


West Kytlim

Located approximately 350 km north of Ekaterinburg, the Kytlim district itself has produced approximately 50 tonnes (1.6
million ounces) of alluvial platinum to date. The joint venture holds a 75% interest in the West Kytlim project, with
the remaining interest held by Production Artel Yuzhno-Zaozersky Priisk, a successful local alluvial platinum and gold
mining company.

The exploration licence covers an area of 171km2 over a drainage system which was partially worked for alluvial platinum
in the past by dredging and manual methods. The joint venture is targeting previously unworked and untested terrace
gravels, as well as the tailings from past production which can be reworked to recover residual platinum using modern
processing technologies.

In April the first drill hole results were announced that have allowed a preliminary assessment of the resource
potential of two targets in the licence area. The two targets tested are terraces to the south of the Tylai River and a
smaller area on the Bolshoya Sosnovka river, a tributary of the Tylai.

Drill results from the first traverse across the Tylai terraces average 335 milligrams per cubic metre (mg/m3 - the
standard method of reporting drill results for alluvial deposits) over a surface width of 320 metres (m) and an average
thickness of 3.2m. Details of the results are provided on the company's web site www.eurasiamining.co.uk.

The deposit lies under 1 - 8m of barren river sediment which hitherto has concealed the deposit from previous mining
activity. The results are consistent with Eurasia's exploration model, which has identified this target as being
approximately 5 km long on the south side of this river with an estimated total potential volume of 5.1 million m3. A
second as yet untested target remains to be explored on the north side of the Tylai river.

In addition to this virgin discovery and located near the headwaters of the Tylai river, a second drill traverse at
Bolshoya Sosnovka has identified material comprising both tailings from an earlier dredging operation and blocks of
remnant un-mined material that average 320 mg/m3 from surface, over thicknesses of 3.6 to15.3m. Eurasia's work indicates
a potential volume of 3.7 million m3 over a surface width of some 200m and a potential length of 2 km. A number of small
producers in the Urals are economically extracting platinum at grades of 100 to 150 mg/m3.

An intensive drilling programme continues with the aim of delineating blocks of mineralisation to be test-mined and
processed during this (2006) summer using a plant that has been constructed by Eurasia. Additional target areas within
the licence area have yet to be assessed by drilling.

Following test mining and the definition of mineable reserves, a mining permit will be applied for.  Processing of
alluvial sediment is simple in principle, with excavation and washing of the platinum bearing sediments carried out so
that a heavy minerals concentrate is produced. This concentrate consists of platinum rich particles as well as other
heavy minerals such as chromite and magnetite. This concentrate is further processed to leave the platinum concentrate,
which consists primarily of a mineral alloy called isoferroplatinum. The platinum concentration of this alloy ranges
from 78% to 89% with iron and copper comprising most of the remainder, with trace gold, silver and other platinum group
metals. This material is sold directly to refineries, with payment based on the recovered metal. As this material is
high grade the refining costs are minimal compared to the sulphide rich materials forming the bulk of the world's
platinum production.

Resource estimates for alluvial projects are constructed differently from those calculated on hard rock mineral
deposits. The grades are reported as the recovered weight of platinum concentrate measured against the volume of
sediments sampled or extracted. Drilling of samples proceeds on a grid which is designed for approval of reserves by the
Russian authorities - an essential step for obtaining a mining permit. At West Kytlim, two drillhole profiles, one on
each target area, provide an early indication of the grade of platinum, the distribution of metal in the sediments and
the thickness and extent of the mineralised layers.

So far two potential areas of production have been identified. As the capital costs for mining these projects are
modest, helped by using equipment owned by our local partner, Eurasia expects to see cash flow in 2007 if a mining
permit is obtained in time for the summer season.


Other Urals Areas

A licence held 75% by Eurasia's subsidiary Eurasia PGM Limited has recently been renewed at Baronskoye. Here Eurasia
discovered palladium-gold mineralisation in 2001 and outlined an area which may have potential for the development of a
small open pit project. Work this year is looking at metallurgical options which will determine the economics for such a
project.


Kola Peninsula

In February 2006 Eurasia agreed to acquire two companies which hold three exploration licences in Murmansk Oblast
(region) in northwest Russia. This followed a long period of negotiation with the vendors while early exploration work
was underway. The three areas were acquired because of their good potential for bedrock platinum mineralisation. While
Eurasia had been seeking to acquire these projects for two years, the company was joined in late 2005 by its partner in
the Urals project, Anglo Platinum Limited.

The agreement to acquire a 100% interest in three large exploration areas on the Kola Peninsula in Murmansk Oblast,
Russia was met by paying $1.5 million and issuing 10 million new Ordinary Shares in Eurasia. The three licence areas are
Volchetundra, held by ZAO Yuksporskaya Mining Company, and Monchetundra and West Imandra, held by Joint Stock Company
Terskaya Mining Company. Simultaneously, Eurasia agreed with Rustenburg Platinum Mines Limited (Cyprus) (RPM), a wholly
owned subsidiary of Anglo Platinum Limited, to include these projects in their existing joint venture, by Eurasia
selling an 80% interest in the Russian companies into the 50:50 joint venture company, Urals Alluvial Platinum Limited.
RPM will acquire their interest by providing $1 million as part of the total consideration. On completion, Eurasia will
hold a 60% interest in the Kola projects.

Under the agreement, RPM will fund the first $10 million of Kola expenditure before both parties fund in proportion to
their equity interest. On completion of a bankable feasibility study or the completion of the $10 million expenditure,
whichever is the sooner, RPM have 90 days to purchase the 20% held by Eurasia for $6 million or $5 per ounce of platinum
group metals in Russian C1 and C2 categories, whichever is the lesser. Should RPM exercise this option, Eurasia would
hold 40% of the projects through UAP. RPM can also opt to require UAP to purchase this interest under the same
conditions. Exploration expenditure totalling approximately $589,000 incurred during 2004 and 2005 has also been
refunded to the vendors, of which Eurasia's liability represented $246,000.

The licences are located within 30 kilometres of the town of Monchegorsk in the centre of the Murmansk region. The town
has been a centre of mining and metal refining since the 1930s, principally of nickel and copper with PGM as by-product.
Iron mining is also an important industry located to the north of Monchegorsk. Consequently, good rail, road and power
infrastructure is in place in what would otherwise be a remote area north of the Arctic Circle.  PGM mineralization was
discovered in 1996, associated with ultramafic and mafic intrusive complexes that extend over several hundred
kilometers. Exploration has only been carried out in recent years but with increasingly favourable results. Two other
western companies have been working on PGM exploration for a number of years, namely Barrick Gold and Consolidated Puma,
a company controlled by Bema Gold.


West Imandra

This exploration licence comprises a large area of 229 square kilometres and is granted for five years up to 30th
January 2009. Only early stage exploration for PGM has been undertaken with some trenching and drilling carried out
previously for chromite. The main targets for exploration are several prospective horizons in a large intrusion hosting
important layered units of chromitite towards the base and magnetite with anorthosite towards the top, both often
associated with PGM mineralisation. A sample from outcrop of a chromitite unit has assayed platinum at 1g/t. A recent
trench on anorthosite below the magnetite layers gave 2.94g/t of PGMs over a 1 metre-thick zone. The work programme for
2006 involves till geochemistry, geophysics and diamond drilling.


Volchetundra

This licence area, totalling 210 square kilometres, is situated some 20km northeast of the town of Monchegorsk. The
licence was granted for a period of five years that expires on the 15th July 2008.

The target geological feature in this area is a north-south, 40km long, 2-4 km wide early Proterozoic mafic intrusive
comprising mainly gabbros and anorthosites with ultramafic rocks at their base. These were intruded into Archaean
gneisses and developed a dioritic contact zone on the eastern basal contact of the intrusion. The western contact
appears to be tectonic.

Early stage exploration work has identified sulphide rich zones near the base of the intrusion. The northern half of the
area has been surveyed by till sampling and geochemistry with several anomalies defined for drill testing. Early stage
mapping, rock sampling and trenching have identified several bedrock targets for PGM. At the southern end of the
licence, weak nickel-cobalt mineralization is known from exploration work in the 1960s but has never been tested for
PGM.

Results of bedrock sampling in trench and outcrop have yielded a number of targets with anomalous PGM. Two zones are of
particular interest: one with grades of 0.7 g/t of platinum group metals over a thickness of 10 metres, and a second,
4.7 g/t of platinum, 4.6 g/t of palladium and 2 g/t of gold over a thickness of 2.6 metres.

The drill programme for 2006 will test the geochemical anomalies and also some of the early rock outcrop targets.
Further rock sampling, mapping and trenching will be carried out on the former base metal target areas.


Monchetundra

The Monchetundra exploration licence is granted for five years expiring on the 30th August 2009. The area is smaller,
approximately 36 square kilometres but is centred on four PGM rich horizons identified from previous sampling and
drilling.

The target horizons are located near the base of an ultramafic-mafic intrusive complex, with a complex geological
history. Later structures have disrupted the central part of the area but despite this the four target horizons can be
seen and correlated over several kilometres. The platinum bearing horizons show different characteristics. Two are
palladium rich while the other two carry higher platinum grades. High grade results include intersections of 3.58 to
38.78 grams per tonne (g/t) of combined platinum and palladium over intervals of 0.4 to 2.8 metres. Lower grade
intersections at some points overlap and extend beyond them - for example 35.9 metres and 13.4 metres of 1.94 g/t and
2.2 g/t of combined platinum and palladium, respectively. The work completed to date allows Eurasia to plan a detailed
drilling programme for 2006 to assess continuity along strike and down dip. There is good evidence that the zones are
continuous, except in an area where faulting has disrupted the geology.

The 2006 work programme will concentrate on detailing the structure of the zones identified, in particular those with
potential for a near surface open pit type of mine development. The drill programme will commence in July and can
continue all year round, due to its proximity to Monchegorsk city and ease of access.


AngloGold Ashanti Exploration Alliance

In 2005 Eurasia established an exploration alliance with AngloGold Ashanti Limited, the world's number two gold
producer, covering gold and related mineral exploration and possible development projects in eastern Siberia. The
alliance combines our country experience and exploration management skills in the region with AngloGold Ashanti's
technical and financial resources.

The Eastern Siberian geological environment represents one of the best endowed, yet least systematically explored
regions of the world for hard rock gold deposits. Historic production in the region was dominated by placer mining of
alluvial gold. Since the mid 20th Century a number of large hard rock deposits have been explored and developed. Total
resources in these deposits, including previous production and known reserves, stands well in excess of 65 million
ounces, or 2,000 tonnes of gold.

The agreement gives AngloGold Ashanti the exclusive right to participate in projects proposed by Eurasia, which has
been appraising potential prospects in the region. AngloGold Ashanti is funding the first $2 million of exploration
spending in recognition of Eurasia's work to date. Subsequent spending will be shared equally.

Our objective is to participate in the rapid advancement of a number of projects towards feasibility study. The
exploration alliance extends the range and type of projects in which Eurasia can participate within this highly
prospective but increasingly more competitive environment for gold project development. The alliance has already lodged
applications for licences to explore in five areas and is optimistic of being able to commence work on several of them
during the 2006 field season.

The company also continues independently to seek projects that will add value to our portfolio by reviewing and
potentially bidding for both prospective mineral ground as well as advanced stage projects elsewhere in the country. In
this regard the company is working with a potential Russian partner to jointly acquire advanced gold development and
exploration properties.


C Schaffalitzky
Managing Director




Consolidated Profit and Loss Account
For the year ended 31 December 2005
                                                                    Total         Total   Continuing  Discontinued
                                                                                          operations    operations
                                                                     2005          2004         2004          2004
                                                                        £             £            £             £

Impairment of assets                                            (156,925)   (1,461,377)  (1,008,003)     (453,374)
Other administrative expenses                                   (933,374)     (726,811)    (726,811)             -
------------------------------------------------------------------------------------------------------------------
Administrative expenses and operating loss                    (1,090,299)   (2,188,188)  (1,734,814)     (453,374)
Share of operating loss in joint venture                        (477,602)             -            -             -
------------------------------------------------------------------------------------------------------------------
Total operating loss: group and share of joint ventures       (1,567,901)   (2,188,188)  (1,734,814)     (453,374)
Gain on disposal of subsidiaries                                        -      769,619      569,627       199,992
------------------------------------------------------------------------------------------------------------------
Loss after disposal of subsidiary                             (1,567,901)   (1,418,569)  (1,165,187)     (253,382)
Net interest payable / receivable & similar items                127,849       (69,239)
------------------------------------------------------------------------------------------------------------------
Loss on ordinary activities before taxation                   (1,440,052)   (1,487,808)
Taxation                                                                -             -
------------------------------------------------------------------------------------------------------------------
Loss on ordinary activities after taxation                    (1,440,052)   (1,487,808)
Minority interest                                                 (1,693)       16,018
------------------------------------------------------------------------------------------------------------------
Loss for the financial year                                   (1,441,745)   (1,471,790)
Loss per share                                                    (1.43)p       (1.74)p
------------------------------------------------------------------------------------------------------------------
All the operations of the group are classed as continuing.


Consolidated Balance Sheet

At 31 December 2005
                                                                     2005          2004
                                                                        £             £
Fixed assets
Intangible - exploration, development and production           
interests                                                       1,280,810     1,316,485
Tangible                                                           41,172        40,160
Investments
Interest in joint venture                                     +------------------------+
  Share of gross assets                                       |  502,855       735,326 |
  Share of gross liabilities                                  | (305,445)     (107,046)|
                                                              +------------------------+
                                                                 197,410       628,280
Other investments                                                    146       154,018
---------------------------------------------------------------------------------------
Total fixed assets                                             1,519,538     2,138,943
---------------------------------------------------------------------------------------
Current assets
Debtors                                                          202,410       247,074
Cash at bank                                                     198,201        83,162
--------------------------------------------------------------------------------------
Total current assets                                             400,611       330,236
Creditors - amounts falling due within one year                 (213,019)     (237,442)
--------------------------------------------------------------------------------------
Net current assets                                               187,592        92,794
--------------------------------------------------------------------------------------
Total assets less current liabilities                          1,707,130     2,231,737
--------------------------------------------------------------------------------------
Creditors - amounts falling due after more than one year         (93,251)      (83,290)
--------------------------------------------------------------------------------------
Net assets                                                     1,613,879     2,148,447
--------------------------------------------------------------------------------------
Capital and reserves
Called-up share capital                                        5,188,086     4,250,586
Share premium account                                          7,034,374     7,100,374
Capital redemption reserve                                     3,539,906     3,539,906
Profit and loss account                                      (14,114,787)  (12,710,717)
--------------------------------------------------------------------------------------
Equity shareholders' funds                                     1,647,579     2,180,149
Minority interest                                                (33,700)      (31,702)
--------------------------------------------------------------------------------------
                                                               1,613,879     2,148,447
--------------------------------------------------------------------------------------



Consolidated Cash Flow Statement

For the year ended 31 December 2005
                                                                     2005          2004
                                                                        £             £
Net cash outflow from operating activities                      (902,244)     (697,149)
Returns on investments and servicing of finance                    6,257        12,763
Capital expenditure and financial investment                     132,901      (443,584)
Acquisitions and disposals                                              -      157,500
--------------------------------------------------------------------------------------
Net cash outflow before financing                               (763,086)     (970,470)
Financing:
Issue of ordinary shares                                         871,500        48,000
--------------------------------------------------------------------------------------
Increase/(decrease) in cash in the period                        108,414      (922,470)
--------------------------------------------------------------------------------------

Reconciliation of net cash flow to movement in net funds
Increase/(decrease) in cash in the period                        108,414      (922,470)
Translation difference                                             6,625              -
Movement in net funds in the period                              115,039      (922,470)
Net funds at 1 January                                            83,162     1,005,632
--------------------------------------------------------------------------------------
Net funds at 31 December                                         198,201        83,162
--------------------------------------------------------------------------------------


Reconciliation of Operating Loss to Operating Cash Flows
Operating loss                                                (1,567,901)   (2,188,188)
Depreciation charges                                               5,413        46,139
Loss on sale of marketable securities                              5,476             -
Impairment charge                                                156,925     1,461,377
Loss attributable to joint venture                               477,602             -
(Increase) / decrease in debtors                                  44,664       (27,960)
Increase / decrease in creditors                                 (24,423)       11,483
--------------------------------------------------------------------------------------
Net cash outflow from operating activities                      (902,244)     (697,149)
--------------------------------------------------------------------------------------



Notes:


1     The financial information set out above does not constitute statutory accounts as defined in section
      240 of the Companies Act 1985.  The consolidated profit and loss account, balance sheet and cash flow
      statement have been extracted from the Group's 2005 statutory financial statements upon which the
      auditors' opinion is unqualified.
2     The loss per share is calculated by reference to the loss for the year of £1,441,745 (2004: £1,471,790)
      and the weighted average number of Shares in issue during the year of 100,644,594 (2004: 84,388,766).
      There is no dilutive effect of share options or warrants.
3     The financial information has been prepared under the historical cost convention and in accordance with
      applicable accounting standards.
      In common with many exploration companies, the Company raises finance for its exploration and appraisal
      activities in discrete tranches to finance its activities for limited periods only. Further funding is
      raised as and when required.
      The Directors are of the opinion that the Company will require to raise additional financial resources
      to enable the group to undertake an optimal programme of exploration and appraisal activity over the
      next twelve months. Accordingly, the Directors intend either to raise further funds or to engage an
      additional funding partner as appropriate during the course of the next twelve months.
      Whilst the Directors are confident that the Group will be able to secure additional funding to enable
      it to continue to meet its debts as they fall due and to undertake the programme described above for at
      least the next twelve months from the date of approval of these financial statements, there can be no
      guarantee that this will be the case.
      In common with many exploration companies, the Company raises finance for its exploration and appraisal
      activities in discrete tranches to finance its activities for limited periods only. Further funding is
      raised as and when required.
      The financial statements do not include any adjustments, particularly in respect of fixed assets,
      investments, loans and provisions for winding up, which would be necessary if the Company and Group
      ceased to be a going concern.
4     Copies of the Annual Report and Accounts for the year ended 31 December 2005 will be posted to
      shareholders by 30 June 2006 and will be available, free of charge, from the Company's registered
      office at 1 Hay Hill, London, W1J 6DH, for a period of 14 days from the date of their posting.



For further information contact:


Michael Martineau / Christian Schaffalitzky, Eurasia Mining Plc  [phone]

Michael De Villiers, Eurasia Mining plc:                         [phone]

Laurie Beevers, W H Ireland:                                     [phone]

Allan Piper, First City Financial Public Relations               [phone];   [phone]




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