Successful Feasibility Study

Aurum Mining PLC
19 December 2006


For immediate release                                           19 December 2006





                                AURUM MINING PLC

                           ('Aurum' or 'the Company')



           Completion of Bankable Feasibility Study for Andash Zone 1



Aurum Mining plc (AIM: AUR), the company formed to acquire gold and other
mineral extraction projects in the Former Soviet Union (FSU), is pleased to
announce the successful completion of the bankable feasibility study for the
project financing and construction of the proposed mine at Andash Zone 1 in the
Kyrgyz Republic.



The feasibility study was compiled by Wardell Armstong International (WAI), a
leading UK mining consultant with particular expertise in the FSU, in
association with engineering consultants GBM and ground engineering and
environmental services group, Golder Associates. The bankable feasibility study
also takes into account the local feasibility study prepared earlier this year
by Ken-Too Design and Research Centre, the leading Kyrgyz mining consultancy.



The feasibility study, which confirms that the open-cast Andash operation will
combine  low costs with high production rates, contains the following
highlights:



Measured and indicated resource base increased 12.5% to 19.2 million tons at
1.1g/t gold and 0.4% copper



Additional low grade measured and indicated resource of 5.74 million tonnes at
0.44g/t and 0.15 % copper



Proven and probable reserve of 16 million tonnes, containing over 1.2 million
ozs of Gold and Gold equivalent in copper giving an in-ground value of over
$750m



Mining rate of 2m tpa with a pit life of 8.5 years



Stripping ratio of 0.8 tonnes of waste to 1 tonne of ore



Average  cash operating costs of $223 per oz of gold and gold equivalent



Capital cost of $55.5 million including contingencies



Payback period of 3.3 years and an IRR of 39.7%,



The IRR assumes an ongoing price for gold of $550 per oz, with copper falling
from an assumed start price of $6480 to $4077 per tonne during the payback
period





Aurum is in discussions with various parties on a financial package for the
mine's construction. Construction of the mine, preparatory work for which is
already under way, will begin as soon as finance is in place with commercial
production expected in 2008.



The significant extent of the Zone 1 resource identified in the feasibility
study means that the maximum deferred consideration of $5 million in shares will
become payable under the terms of Aurum's acquisition in 2005 of the Andash
project from Kaldora Company Limited. This consideration has been calculated by
reference to $10 for every ounce of gold equivalent to reserve identified in the
feasibility study and will be settled by the Company issuing 2,500,000 ordinary
shares of 1p each.



The payment of the maximum consideration in respect of the Zone 1 resource alone
underlines the quality of the Zone 1 asset and the Company is pleased to note
that no further deferred consideration will fall due in respect of the other
exploration areas within the Andash licence area.



The Andash Zone 1 mineable reserves are now




Mineable Reserves
Ore Type                        Tonnes                 Au (g/t)       Cu (%)
Oxide High Grade                2,073,300              0.79           0.40
Sulphide High Grade             12,135,270             1.20           0.43
Oxide Low Grade                 444,700                0.40           0.21
Sulphide Low Grade              1,348,100              0.36           0.16
Total                           16,001,370             1.05           0.40







The life and production rates of the Andash mine are expected to be
significantly greater than was originally anticipated from Zone 1 alone. The
recent positive exploration studies, announced on 16 November 2006, at
Tokhtonysay, the new Nakhodka exploration area announced on 7 December 2006, as
well as zones 2 and 3 are likely to increase resource potential significantly. A
drilling programme is planned in the New Year to provide further understanding
of the potential resource which will be developed using the infrastructure
designed for zone 1.





Mark Jones, Aurum Mining's Chief Executive, said: 'The completion of the
feasibility study marks a further important step in the development of the
Andash mine, and highlights that our strategy of fast tracking Zone 1, instead
of bringing on all zones concurrently has been the optimal route for Aurum. We
now have strong upside potential which will further reward all our stakeholders.



Following the recent award of a Mining Licence by the Kyrgyz authorities, we
have now completed all of the preparatory work for the project financing of the
Andash Zone 1 mine, giving us confidence that we can begin construction of the
mine in the coming months and produce gold and copper in 2008.'





For further information:


Aurum Mining plc                                      Tel: [phone]
Mark Jones, Chief Executive

Arbuthnot Securities                                  Tel: [phone]
Graham Swindells

Buchanan Communications                               Tel: [phone]
Mark Court / Rebecca Skye Dietrich









Notes to editors



Aurum Mining joined the AIM market of the London Stock Exchange in May 2004 with
the strategy of seeking, evaluating and acquiring gold and other mineral
extraction projects in the Former Soviet Union (FSU). In January 2005 the
Company completed its first acquisition, giving the Company an exploration
licence over the Andash gold and copper project in the Kyrgyz Republic. Mining
consultant Wardell Armstrong International has confirmed a JORC resource
estimate of 1.49 million ozs of gold and gold equivalent in Andash Zone 1 in
Measured and Indicated categories. A Mining Licence for the Andash area was
awarded by the Kyrgyz authorities in November 2006. The feasibility study for
Zone 1 is scheduled for completion by the end of this year, allowing production
to begin in 2008. The Andash project also includes the Zone 2 and Zone 3 along
with Tokhtonysay, Nakhodka and three other additional exploration areas.








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