KZG to JORC reserves in 2006

KazakhGold Group Ltd
07 July 2006



July 7, 2006
                            KAZAKHGOLD GROUP LIMITED

  KazakhGold appoints Wardell Armstrong International to reclassify its reserves
                                 and resources



KazakhGold Group Limited (London: KZG) announces the engagement of Wardell
Armstrong International ('WAI') to undertake the reclassification of certain of
its reserves and resources. This follows the company's stated aims at IPO to
reclassify its resources to the Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves ('JORC'). The company's reserves and
resources of 46.6m oz are currently classified according to the Former Soviet
Union's 'Classification and Estimation Methods for Reserves and Resources'.



The company has agreed an initial scope of work with WAI.  The first stage of
this is the transfer of reserves (B and C1) at the company's major operating
mines of Aksu, Bestobe and Zholymbet to JORC.  The company considers that these
reserves are the most suitable for rapid classification under JORC. It is
expected that this work will be completed by the end of 2006.



Additionally, WAI's scope of engagement also includes the reclassification of
the resources at Aksu, Bestobe and Zholymbet.



WAI will also work with KazakhGold's senior technical personnel to plan and
monitor ongoing exploration programmes within its project portfolio; ensuring
the optimisation and classification of reserves and resources.  This portfolio
comprises four properties acquired in July 2005 and licences for five additional
properties in gold-bearing regions of Kazakhstan granted in December 2005.



WAI will work in conjunction with KazakhGold's experienced in-house exploration
and geology unit, headed by Oleg Gorozhanin, Chief Geologist.



KazakGold Reserve and Resources at Aksu, Bestobe and Zholymbet, as reviewed by
WAI at IPO in November 2005


                                                             Ore          Grade         Gold          Gold
                                                         (m tonnes)     (g/tonne)     (tonnes)       (m oz)

Reserves (B + C1)                                               161.6          2.55         411.3          13.2

Resources (C2)                                                   54.8          6.92         379.1          12.2

Resources (P1)                                                  139.5          4.73         660.0          21.2

Total reserves and resources (B+C1+C2+P1)                       355.8          4.08       1,450.5          46.6












Further Information:



Aidar Assaubayev
Deputy Chief Executive
KazakhGold Group Limited
Tel:       [phone]
Email:   [e-mail]

Ron Marshman
City of London PR
Tel:       [phone]
Email:   [e-mail]

Phil Newall
Wardell Armstrong International
Tel:       [phone]




                      This information is provided by RNS
            The company news service from the London Stock Exchange