Interim Results

Eurasia Mining PLC
28 September 2001


             RESULTS FOR THE SIX MONTH PERIOD ENDED 30 JUNE 2001

I write this in the aftermath of the attacks on the World Trade Centre in New
York and on the Pentagon in Washington. With the images of the disaster still
on every screen and in every newspaper it is far too early to assess the
short-term effect that this will have on the world economy and on our small
section of it. The important point however is that, as an exploration and mine
development company, we look to the long term and in the medium and longer
term the outlook for our industry and for our progress in that industry
continues to look good.

In the annual report, I described the actions that Eurasia has taken to
strengthen its technical management, cut costs and focus its exploration
effort. These actions are now producing positive results.

Alluvial Platinum Joint Venture

In the Urals region of Russia, our alluvial platinum joint venture with Anglo
Platinum, building on the solid foundation of the research work in 2000,
secured two licences covering the key parts of the former producing districts
of Vissim and Sosvinsky. Field work started immediately.

At Vissim the processing of three widely separated bulk samples of former
dredge tailings indicated that potentially economic concentrations of platinum
and chromite could be recovered. Eurasia has therefore initiated a series of
parallel studies including drilling, processing, environmental recording and
marketing. Key factors in assessing the viability of this project will be the
quality and marketability of the chromite co-product to local ferrochrome
production facilities and the volume of material available for processing.
Results of these studies should begin to become available in December.

On the Sosvinsky project seismic surveys have indicated the presence of a
previously untested area at the confluence of two rivers that could have
trapped platinum draining off the Deneshkin Kamen complex. This basin is some
distance downstream from the known source rocks and although platinum has been
panned from the modern stream bank, exploration drilling is necessary to
determine whether economic concentrations developed at the time that sediment
filled the basin. This drilling commenced in September.

Regional work continues in order to define, acquire and test other targets in
the 350 kilometre long Urals platinum belt. We are very encouraged both by the
early results and the speed of progress in testing the targets.

South African Platinum Project

In July, Eurasia announced the acquisition of options over 3,900 hectares of
mineral rights covering 7.5 kilometres of the Eastern margin of the Bushveld
Complex immediately South of the ground hosting the 5 million ounce Everest
South deposit. Mapping and sampling has now located platinum bearing UG2 and
Merensky Reefs at surface on Eurasia's ground and defined a major basin that
provides an immediate drill target for a potentially economic deposit.

Application has been made for a licence to conduct exploration including
drilling and discussions have been held with companies to initiate this work
immediately following the award which is expected before the year end.

The Company has received several approaches from major companies to farm into
and to explore the Kliprivier project. We appreciate our peer group's
recognition of the value of this strategic target in the world's largest
platinum- producing province. The Company also recognises the advantages that
a strategic alliance could give through access to processing, refining and
other joint projects.  Any such agreement would only be entered into after
detailed discussions and on favorable terms.



Urals Palladium Project



In May, Eurasia was able to announce a substantial increase in the area under
licence for Palladium exploration in its 66% owned joint venture on the
Baronskoye-Baranchar layered intrusion with the award of the long awaited 330
sq km Barachinskoye exploration licence. Drilling has continued throughout the
summer using the in-house drill rig on both the Kluevsky and Baronskoye
targets. The use of this drill provides a major advantage in terms of the
flexibility of the programme and in terms of cost.



The reinterpretation of the controls on the mineralisation, described in the
annual report, has greatly improved our targeting. At Kluevsky, new surface
mapping and geochemistry has defined a 50-100m wide Palladium anomaly along a
brecciated and altered fault zone. The first two drill holes in this target
have intersected 11.5-36 metres assaying 1.03 and 1.01 gm/t Palladium plus
Gold respectively. The mineralisation extends from the surface. Assay results
from several other holes completed or currently in progress are needed to
determine the shape and size of the occurrence. It must be stressed that this
is the first of the new open-pit type targets within the 380 sq km
Baronskoye-Branchar licences to be tested and whilst this is an encouraging
start we will need to test several such targets to be sure of testing the
best.



Outlook



Eurasia has made major progress in the past six months. The economic and
minerals legislation position of Russia has also progressed very positively
with, for example, a new unified Minerals Resources Tax. Our new landholdings
and the results already coming out of our policy of rapid testing of targets
on them, bode well for the future. Despite the present difficult economic
conditions your Board continues to view the long-term prospects for your
Company with optimism.

Consolidated Balance Sheet
As at 30 June 2001


                                                       30 June    31 December
                                                          2001           2000
                                                    (unaudited)      (audited)
                                                             £                £
Fixed assets

Tangible - Exploration, development and production   2,737,246        2,341,148
interests
Tangible - Other                                       251,713          233,242
Investments                                             71,014           66,859

Total fixed assets                                   3,059,973        2,641,249

Current assets
Debtors                                                193,475           95,574
Cash at bank                                           507,364          504,266

Total current assets                                   700,839          599,840

Creditors - amounts falling due within one year
Other creditors and accruals                         (262,598)        (215,441)

Net current assets                                     438,241          384,399

Total assets less current liabilities                3,498,214        3,025,648

Creditors - amounts falling due after more than
one year

Convertible loan stock                               (822,225)        (951,223)

Net assets                                           2,675,989        2,074,425

Capital and reserves
Called-up share capital                              1,668,335        1,391,942
Share premium account                                6,318,155        5,792,289
Capital redemption reserve                           3,539,906        3,539,906
Profit and loss account                            (8,880,328)      (8,671,698)

Equity shareholders' funds                           2,646,068        2,052,439
Minority interest                                       29,921           21,986

                                                     2,675,989        2,074,425


Consolidated Profit and Loss Account
For the six month period ended 30 June 2001


                                    6 month   6 month       12 month period to
                                  period to   period to     31 December 2000
                                    30 June   30 June       
                                       2001   2000
                                (unaudited)   (unaudited)   (audited)

                                          £             £    £


Administrative expenses           (237,766)     (248,756)             (506,602)
Director's termination payment     (75,000)             -                     -
Loss or impairment of
intangible and tangible fixed
assets                                    -             -           (3,721,489)

Loss from continuing activities   (312,766)     (248,756)           (4,228,091)
before interest

Interest receivable and similar       8,302         7,932                29,599
items
Interest payable and similar          (453)         (396)               (1,241)
items

Foreign exchange gain               243,695       215,478               256,287

Loss from continuing activities    (61,222)      (25,742)           (3,943,446)
before taxation

Taxation                                  -             -                     -

Loss on continuing activities      (61,222)      (25,742)           (3,943,446)
after taxation

Minority interest                   (6,386)           523                   481

Retained loss for the period       (67,608)      (25,219)             3,942,965

Loss per share                      (0.22)p       (0.14)p              (17.10)p


Consolidated statement of total recognised gains and losses
For the six month period ended 30 June 2001

                                        6 month        12 month period to 31
                                        period to      December 2000
                                        30 June        (audited)
                                        2000
                                        (unaudited)               
                                         

                                                   £                     £


Loss for the period                         (67,608)                (3,942,965)
Exchange adjustments on foreign            (141,022)                   (49,706)
currency net investments

Total recognised gains and losses for      (208,630)                (3,992,671)
the financial year

                                                             28 September 2001