Acquisition

Aurum Mining PLC
01 February 2005


For immediate release                              1 February 2005



                               AURUM MINING PLC
                           ('Aurum' or 'the Company')

                       Acquisition of Kaldora Company Ltd
                 First Day of Dealings of Enlarged Group on AIM

Aurum Mining plc (AIM: AUR), a company formed last year to acquire gold and
other mineral extraction projects in the Former Soviet Union, is pleased to
announce its first day of dealings on AIM today following its acquisition of
Kaldora Company Ltd ('Kaldora'). Kaldora's wholly owned subsidiary, Andash
Mining Company ('Andash'), holds an exploration licence over the Andash gold and
copper exploration project in the Kyrgyz Republic.

Highlights

  • Acquisition of Kaldora Company Ltd
  • Placing of 714,286 Ordinary Shares at 84p per share by WH Ireland Ltd
  • John Webster appointed to Board as Managing Director (see separate
    release)
  • Important first step in Aurum's acquisition strategy

In a press release dated 13 January 2005, Aurum announced that it had
conditionally agreed to acquire the entire issued and to be issued share capital
of Kaldora for an initial consideration of $1.5 million comprising the issue of
600,000 Ordinary Shares, the payment of $300,000 cash and, conditional upon the
subsequently evaluated levels of gold reserves, a deferred consideration of up
to $5 million comprising the further issue of up to 2,500,000 Deferred
Consideration Shares. At the close of business on 12 January 2005 the closing
mid-market price of an Ordinary Share in Aurum was 87.5p, valuing Kaldora at
between £0.7 million and £2.9 million. Dealings in the Ordinary Shares,
including New Ordinary Shares, commence on AIM today.

The acquisition of Kaldora represents an important first step in the development
of Aurum's strategy of acquiring gold and other mineral exploration projects in
the FSU. In line with Company strategy, Aurum's Directors intend to continue to
seek and evaluate further acquisitions.

Commenting on the successful completion of the Kaldora transaction, Sean Finlay,
Aurum's Chairman, said: 'I am delighted by the acquisition of Kaldora and
believe that it offers considerable potential both through its exploration
licence in the Kyrgyz Republic and through its role as the first of a planned
series of acquisitions in the FSU.'

For further information:

Aurum Mining plc                                        Tel: [phone]
Haresh Kanabar

W H Ireland                                             Tel: [phone]
Tim Cofman

Buchanan Communications                                 Tel: [phone]
Mark Court/Charlie Howard



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