Share Placing Raises £2.0m

Eurasia Mining PLC
26 April 2000


EURASIA MINING PLC


* SHARE PLACING RAISES £2.0 MILLION CASH FOR FURTHER IMMEDIATE PLATINUM AND
PALLADIUM DEVELOPMENT

* BALANCE SHEET STRENGTHENED FOLLOWING DEBT RESTRUCTURING

Eurasia Mining PLC, the AIM listed mining company with extensive platinum and
palladium interests in the Urals Region, has today completed a share placing
raising £2.0 million through the issue of 8,695,655 shares at 23p each.  These
funds will be used to advance the Company's projects, to pay down debt and to
provide working capital.

The primary focus will be directed towards progressing the Company's
Baronskoye palladium-gold project, where the Company is targeting production
by the year-end. 

The joint venture with Anglo American Platinum Corporation Ltd on platinum
tailings and alluvials in the Urals is also proceeding according to plan with
encouraging progress.

Institutional subscribers to the placing include Invesco Asset Management Ltd
- 2,175,000 shares (7.81% of the capital of the company), Gartmore Investment
Management plc - 1,100,000 shares (3.95%) and Bradshaw Asset Management -
1,100,000 shares (3.95%). 

Concurrent with the fund raising, agreement has been reached with Eurasia's
leading institutional shareholder, Framlington Russian Investment Fund
('FRIF') to convert £1,394,994 of its existing loan stock into 6,065,191
shares at 23p each, to take FRIF's shareholding to a total of 8,323,812
shares, which is 29.9% of Eurasia's issued capital following the placing.  The
balance of FRIF's loan stock totalling approximately £900,000 is convertible
into future equity, up to 29.9% of any enlarged capital, at the same time and
price of any future fund raising within the next twelve months.  The loan
stock is interest free and is secured on Eurasia's controlling shareholding in
its Soloviev Hill project.  FRIF has undertaken not to exercise any of its
conversion rights if this would increase its stake beyond 29.9% of the issued
capital of the company.  In consideration of FRIF's ongoing support of the
company, its existing 413,141 warrants have been re-priced to 23p and will now
expire on 20 April 2002 and 625,000 'A' options have been reassigned to FRIF. 
In connection with FRIF's shareholding position in Eurasia, the Company
advises that Framlington East European Fund Limited has disposed of all of its
203,130 shares in the Company.

As part of the arrangements connected with the fundraising Mr B Rowan has
exercised 350,000 'A' options at 10p raising his interest to 2,734,000 shares,
which is 9.82% of the capital of the company. 

In addition executive members of the board, namely Mr A H Counsell and Mr R J
G Jenkins have respectively utilised accrued fees and salaries to subscribe
for 65,000 and 110,000 shares at 23p each. Mr Counsell has interests in
340,000 shares (1.22% of the capital of the company) and Mr Jenkins 110,000
shares (0.40%). Mr M V St Giles, a non-executive director, has subscribed for
44,000 shares at 23p in the placing increasing his interest to 66,000 shares
(0.24%).

The Company proposes to introduce a replacement employee share option scheme
in the near future, approval for which will be sought at a shareholders
meeting.  It is proposed to include provision that options over up to 3% of
the issued capital may be allotted at the current placing price.  
Loan stock to T Hoare Canaccord & Co totalling £224,936 has been repaid out of
funds raised.

The issued capital of the Company following the above issues now totals
27,838,838 5p ordinary shares. 

Application will be made for all of the above mentioned new shares to be
admitted to trading on AIM.

Managing Director Andrew Counsell comments: 'We are delighted with the level
of investor support for the Company and its projects.  The funds raised will
provide significant added value to our excellent platinum and palladium assets
and the restructuring of FRIF's convertible loan stock, and the repayment of
debt leaves us in a sound financial position.'

Listing:        Alternative Investment Market, London Stock Exchange
Code:           EUA
Web Site:       www.eurasia-mining.plc.uk
Email:          [e-mail]

For further information please contact:
Andrew Counsell, Managing Director             Tel:   [phone]       
Paddy Manning, The Paddy Manning Company       Tel:   [phone]       
               
26 April 2000

14-16 REGENT STREET, LONDON SW1Y 4PH
TEL: [phone]  FAX: [phone]
HEAD OFFICE AND REGISTERED OFFICE COMPANY NO: 3010091