Trading Statement

Celtic Resources Holdings PLC
15 February 2007



FOR IMMEDIATE RELEASE                                  15 February 2007

                          Celtic Resources Holdings Plc
                                        
                                 Trading Update

Celtic Resources ("Celtic"; ticker "CER") is pleased to provide an update on
2006 gold production and recent events, in  advance of its full year results
expected to be announced in May.

• Total group gold production increased by 62% to 61,520 ounces (2005; 37,991 ounces)

    o   Suzdal (100% owned) gold production increased by 152% to 51,785 ounces, 
        which includes 2,552 ounces of gold inventory (2005; 20,585 ounces). The 
        increase was due to greater plant availability following the commissioning 
        of the new air supply system for the BIOX plant and overall improvements 
        in plant operation;
    o   Zherek (75% owned) gold production was 9,735 ounces (2005; 17,416 ounces), 
        a 44% decrease due to lower grade oxide and transitional ores delivered 
        to the heap. These will be depleted this year and studies are continuing 
        on developing the underlying sulphide ores.

• Total attributable gold production for 2006 was up 75% to 59,086 ounces 
  (2005; 33,639 ounces)

• Average realised gold sales price was US$609.21 per ounce

• Eureka Mining plc, acquired in December 2006, has continued to develop in line 
   with management expectations:

    o   Shorskoye Molybdenum Deposit (50% owned) in Kazakhstan which, following 
        commissioning in May 2006, produced  577,710 lbs of molybdenum in 
        concentrate in 2006, of which 445,610 lbs has been sold for a total of 
        US$7,900,676 and 132,100 lbs of molybdenum in concentrate has been 
        stockpiled awaiting sale;
    o   In late January 2007, Celtic announced a Joint Venture agreement with 
        Anime Global Limited, a company associated with the ICT Group of 
        companies for the development of the Miheevskoye Project. Polymetal 
        Engineering, a wholly owned subsidiary of Polymetal, has been contracted 
        to execute the plans of the JV and discussions regarding the strategy of 
        the resource are continuing.

Commenting on the results, Kevin Foo, Managing Director of Celtic Resources
said, "We are at last seeing our efforts at  Suzdal bear fruit and a 150%
increase in production to more than 50,000 ounces is satisfactory. We are
seeking further  group gold production increases in 2007. We also intend to make
significant progress on the Miheevskoye and Tominskoye  copper-gold projects and
to increase production at the Shorskoye molybdenum project."


For further information please contact:

Kevin Foo / Jonathan Scott-Barrett      Leesa Peters/ Laurence Read
Kate Dexter-Smith
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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