Kola licences agreed

Eurasia Mining PLC
13 February 2006

Eurasia agrees acquisition of three major Platinum projects in Kola and agrees
joint venture on Kola projects with Anglo Platinum

Eurasia is pleased to announce that it has entered into an agreement to acquire
a 100% interest in three large exploration areas on the Kola Peninsula in
Murmansk Oblast, Russia. The Kola projects are located in three exploration
licences held by two Russian companies and comprise a number of advanced and
early stage platinum group metals (PGM) targets. The consideration for these
licences is $1.5 million and 10 million new Ordinary Shares in Eurasia, to be
issued at par value. The vendor is Audley Investments Limited, a BVI based
company with mineral interests in Russia. The three licence areas are
Volchetundra, held by LLC Yuksporskaya Mining Company, and Monchetundra and West
Imandra, held by Joint Stock Company Terskaya Mining Company. The transaction
will be completed following transfer of the funds, about which a further
announcement will be made, and the allotment of the shares in the two Russian
companies to Eurasia.

Simultaneously, Eurasia has agreed with Rustenburg Platinum Mines Limited
(Cyprus) ('RPM'), a wholly owned subsidiary of Anglo Platinum Limited of South
Africa, to include these projects in their existing joint venture with Eurasia
by selling an 80% interest in the Russian companies into the 50:50 joint venture
company, Urals Alluvial Platinum Limited ('UAP'). This transaction is subject to
certain conditions, which include normal regulatory approvals in South Africa,
the UK and Russia. 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, which ever 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 they 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
totaling approximately $589,000 incurred during 2004 and 2005 will also be
refunded, of which Eurasia's liability represents $246,000.

Eurasia's planned exploration programmes will target mineralization in a major
group of ultramafic and mafic intrusive rocks that occur in several areas within
the Kola region. They are very similar to geological host rocks for PGM
mineralization elsewhere around the world, including the Norilsk Complex of
Russia and the Bushveld Complex of South Africa. The areas examined by Eurasia
and selected for exploration work comprise at least three large intrusions.
Exploration work in 2004 and 2005 on the three areas included trenching,
drilling and geochemical work, with samples collected in 2005 currently awaiting
analysis. Pending these results, a preliminary exploration program to include
drilling on all three areas has been drawn up.

The most advanced area is at Monchetundra, located close to the city of
Monchegorsk. Drilling has identified four platinum bearing horizons with
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, with the high
grades 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 program 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. During 2005 additional drilling was completed on two of the horizons
for which analytical results are expected in the coming weeks.

At Volchetundra, trenching work to date has identified two target areas: 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 licence covers a major intrusion with a strike
length of 40 kilometres. Drilling is planned to commence as soon as a drill rig
can be mobilized to site.

The 229 square-km West Imandra licence covers a large intrusion hosting layered
units of chromitite towards the base and magnetite with anorthosite towards the
top, both often associated with PGM mineralization. A drill hole on 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 Kola region has a long history of mining and metal refining, principally of
nickel and copper with PGMs as by-product. PGM mineralization was discovered in
associated ultramafic and mafic intrusive complexes, which extend over several
hundred kilometers, in 1996. Exploration has only been carried out in recent
years but with increasingly favourable results.

As in the Urals, Eurasia is responsible for the management of UAP's work, with a
current indicative budget of $2.5 million for all areas being worked on this
year. Currently all funds are provided by RPM, with Eurasia entitled to a 5%
management fee. In the Urals, detailed appraisal of an alluvial platinum target
is underway, with a bulk mining test planned for the summer. Anglo Platinum, the
world's largest PGM producer, has been working with Eurasia in Russia over the
past five years.



Commenting on the above, Managing Director Christian Schaffalitzky said: ' I am
delighted to have finally agreed this important transaction which has occupied
the company for some time. Furthermore we are very pleased that Anglo Platinum
is joining us on these substantial platinum projects. We look forward to
expanding our existing working relationship which has been in place since 2000.
The Kola licences hold out excellent promise and in Eurasia's opinion rank as
one of the most exciting new opportunities in platinum in the world today.'



For further information contact:



Michael Martineau/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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