Issue of Equity

Eurasia Mining PLC
31 January 2003

Eurasia Mining plc has raised £210,000 by way of a placing of 3,500,000 new
ordinary shares at 6p each. The proceeds of the placing will be used to complete
due diligence on the possible acquisition of a gold project in Russia, and as
working capital.

As part of the placing, Managing Director Christian Schaffalitzky acquired
167,000 ordinary shares, increasing his holding to 1,067,000 shares, 2.06 per
cent of the company's enlarged issued share capital.

Simultaneously to the share placing, Framlington Russian Investment Fund ('FRIF
') is converting £84,053 (US$ 137,848) of loan stock into 1,490,308 new ordinary
shares.  This maintains FRIF's shareholding in Eurasia at 29.9%. US$504,701
(£307,745) of its loan stock remains outstanding and convertible or otherwise
repayable in accordance with terms previously announced. The total number of
shares on issue in Eurasia is 51,761,806 after the placing and the conversion.

Application has been made for the new ordinary shares to be admitted to trading
on the Alternative Investment Market of the London Stock Exchange and dealings
are expected to commence on Wednesday 12 February 2003.  The shares will rank
pari passu with the existing shares in issue.

The share placing was arranged by W H Ireland.

For further information contact:



Michael Martineau/Christian Schaffalitzky, Eurasia Mining PLC:     [phone]
Laurie Beevers/David Youngman, W H Ireland:                        [phone]
Allan Piper, First City Financial Public Relations:                [phone]
                                                                   [phone]






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