First results from Kluevsky

Eurasia Mining PLC
28 September 2001



          ENCOURAGING FIRST RESULTS FROM KLUEVSKY DRILLING



Eurasia Mining plc is pleased to report the discovery of encouraging Palladium
and Gold grades from the first two drill holes into the newly discovered
Kluevsky geochemical anomaly. This is situated on the 380 sq km
Baronskoye-Barancharsky licence block in the Russian Urals.


Drill hole Kl 3 intersected 11.5 metres assaying 1.03 gm/t Palladium plus Gold
within an interval of 32.1 metres assaying 0.83 gm/t Palladium plus gold.
Short intervals of core loss, a frequent consequence of drilling rocks
affected by mineralisation, prevented an accurate assessment of the absolute
thickness or grade at the plus 1 gm/t level. Drill hole Kl 4 drilled near the
same site for confirmation purposes intersected 19.4 metres assaying 1.14 gm/t
Palladium plus Gold within an interval of 35.9 metres assaying 1.01 gm/t
Palladium plus Gold. In both cases mineralisation extends from surface. Both
holes contain several other intervals assaying above 0.7 gm/t Palladium plus
Gold.


The Kl 3 and KL 4 intersections are open at depth, along strike and to the
West and East. Further drilling is now being directed towards testing the
remainder of this geochemical anomaly. This measures about 500 metres
East-West by 50-100 metres North-South.


The results from these holes substantiate the exploration model being used by
Eurasia to locate concentrations of Palladium and Gold amenable to open pit
mining. The grades are over double those in Kl 1 and Kl 2, reported on earlier
this year, from which the ideas on the likely controls of the mineralisation
were derived. The results are particularly encouraging for two reasons.
Firstly these intersections are above the 'cutoff grade', of about 1 gm/t,
that Eurasia's modelling indicates would be required for an open pit
operation. Secondly the continuity of the mineralisation over substantial
widths, from the surface, confirms the potential for the large volumes of rock
with a low 'stripping ratio' that would also be required for such an
operation.


It is important to emphasise that the Kluevsky drilling constitutes the first
drilling, into the first target of this type, within an entirely new mineral
province. The values obtained, and the fractured and altered rocks within
which these values occur, are of the same order as those reported in the early
phases of open-pit exploration on major projects in the Eastern Canadia
Palladium mineral province. In parallel with the further drilling at Kluevsky
it is proposed to test other similar targets. These are becoming evident as
the results from the mapping and soil sampling of the area surrounding
Kluevsky are received. Results from the mapping and geochemical sampling of
the much larger, and recently, awarded Baranchinsky licence covering the
remainder of the Complex, will become available at year-end.


Dr Michael Martineau, Executive Deputy Chairman said 'The results from the
initial drilling are highly encouraging. These are still early days, but the
results bode well for the further testing of Kluevsky and the testing of other
anomalies of Kluevsky type'.


                                                             28 September 2001