Concentrate Purchase

Celtic Resources Holdings PLC
22 November 2006


                                                             22nd November 2006
                                       
                                        
                          Celtic Resources Holdings Plc
                                        
                Celtic enters Agreement to purchase Concentrates
                                        
                                        
Celtic Resources Holdings Plc ("Celtic" or "the Company") is pleased to announce
that it has agreed to a purchase of concentrates for processing at its Suzdal
BIOX(R) plant in Kazakhstan from Hellas Gold S.A. a subsidiary of European
Goldfields Limited.

The initial contract is for the purchase of 9,000 wet metric tones (wmt) of
concentrates containing approximately 6,000 oz of gold. Shipments are expected
to be completed by the end of Q1 2007. Samples of these concentrates have been
successfully tested for processing at the Suzdal BIOX(R) plant. If the initial
shipments prove successful Celtic then has intention to purchase up to an
additional 120,000wmt of concentrates from Hellas Gold.

Kevin Foo, Managing Director comments, "This is the first step in the plan to
process third party concentrates as a means of capitalising on our technology
advantages at Suzdal in treating refractory ores."

For further information please contact:

Kevin Foo / Kate Dexter Smith        Laurence Read
Celtic Resources Holdings Plc        Conduit PR
Tel: + 44 (0)20 7921 8800            Tel: [phone]
[e-mail]        [e-mail]

Frank Moxon / Simon Edwards
Evolution Securities Limited
Tel: [phone]

                            www.celticresources.com




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