Issue of Equity

Eurasia Mining PLC
24 November 2003


Eurasia Mining plc (the Company) is pleased to announce it has raised £1,025,000
before expenses by way of a placing to new and existing institutional and
private client shareholders. WH Ireland, on behalf of the company, has placed
14,642,857 new shares at 7p; placees who subscribed for the 7p shares have also
subscribed for a pro-rata number of shares at 5p from the recent disposal of the
29.9% shareholding held by Framlington Russian Investment Fund (FRIF).

FRIF has long been a strong supporter of the Company but the sale was required
as part of the winding up of this 'closed end' Fund. The placing and sale have
resulted in a number of new institutions, both British and international,
becoming shareholders in the company, as well as increasing the shareholdings of
existing institutional and private client supporters.

Application has been made for the new Ordinary Shares to be admitted to trading
on the Alternative Investment Market of the London Stock Exchange and dealings
are expected to commence on the 12 December 2003. The shares will rank pari
passu with existing shares in issue.

The funding was completed principally to provide finance for exploration and
development work for the Company's new platinum group metals (PGM) projects in
the Kola Peninsula in north-western Russia, as well as for working capital
purposes. Following the placing, which was well oversubscribed, the total number
of shares in issue in Eurasia is 83,360,960.

For every four Ordinary Shares taken under the placing, the placees are to
receive one warrant to subscribe for Ordinary Shares at a price of 10p per
share.  The warrants are unlisted, non-transferable and will expire on 12
December 2005.  As a result of the placing, the Company will have 3,660,714
warrants in issue.

Eurasia Deputy Chairman Michael Martineau said: 'This placing has resulted in a
number of new institutions becoming shareholders in the company, as well as
increasing the shareholdings of existing supporters.'  He added: 'The resolution
of the FRIF 29.9% overhang, the raising of substantial new funds for
exploration, and the commitment of new shareholders, together with the Kola
acquisitions and the other new initiatives place Eurasia in a strong position
with a portfolio of potentially first rate PGM targets at different stages of
development. Taken together, these moves give the Board increased confidence in
the future.'

On the Kola Peninsula, Eurasia has signed an exclusive agreement with a number
of parties to acquire exploration interests comprising three exploration
licences totalling 450 square kilometers on drilled and early stage PGM targets.
The parties involved include private Russian mining companies and the Central
Kola Expedition, which has been working in the region for over 70 years and
employs approximately 250 staff and geoscientists. Eurasia has the right to
purchase an 81% interest in the licence areas.

The Kola region has a long history of mining and metal refining, principally of
nickel and copper with PGM as by-product. Exploration for PGM mineralisation
occurring without base metals has only been carried out in recent years, firstly
by the Central Kola Expedition and recently both by Russian and Western mining
companies. The target for this activity is a major group of ultramafic and mafic
intrusive rocks that occur in several areas within the Kola region. Similar
intrusions are the main geological host for PGM mineralisation worldwide,
including the Bushveld Complex of South Africa and the Norilsk Complex of Russia
which together contain 90% of the world's resources of PGM.

The areas examined by Eurasia and selected for exploration work comprise at
least three large intrusions within which rock horizons containing economic
grades of PGM have already been identified. Confirmatory analysis by Eurasia of
selected rock samples, from outcrop, trenches and drill core, have given values
ranging from 0.5 to 12 grams/tonne (g/t) of platinum and 0.5 to 25 g/t of
palladium.

Eurasia is currently finalizing comprehensive legal agreements to complete these
acquisitions and will report on the commercial terms and on the geology and
exploration results on each of the areas. It is expected that these agreements
will be finalized early in 2004. Exploration work will commence shortly
afterwards, most particularly on a drill program to ascertain the extent of some
of the mineralized areas already identified. Fieldwork designed to extend these
and to identify new horizons on the earlier stage areas will commence in late
spring, following the thaw.

Commenting on the placing, Eurasia Managing Director Christian Schaffalitzky
said: 'I am pleased that, as a result of this placing, the company now has
adequate funds to undertake a major drilling and exploration programme on our
new Kola project. We are also to welcome the calibre of new investors, including
international investors specialising in mining and Russia. The distribution of
the Framlington Russian Investment Fund holding removes a perceived overhang and
puts the company in a strong position to define the resources on its important
Russian and South African mineral holdings. We look forward to increasing
success in 2004.'

As required by sections 324 to 328 of the Companies Act 1985 and rule 15(a) of
the Alternative Investment Market the following information falls to be
disclosed:


Director                           Number of      Number of        Resultant Percentage of      Number of
                                      shares         shares     shareholding      enlarged  warrants held
                                    acquired acquired under                   issued share
                                   under the    the sale by                        capital
                                     placing           FRIF

Dr Michael Martineau                  71,428        100,000          915.928          1.1%         17,857
Christian Schaffalitzky               71,428        100,000        1,638,428          2.0%         17,857
Gary Fitzgerald                      142,857        200,000        1,197,857          1.4%         35,714



The average price of the transaction was 5.84p.



For further information contact:



Christian Schaffalitzky, Eurasia Mining PLC:                [phone]
Laurie Beevers, W H Ireland:                                [phone]
Allan Piper, First City Financial Public Relations:         [phone]
                                                            [phone]




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