First Day of Dealings

Aurum Mining PLC
07 May 2004

For immediate release              7 May 2004

                                AURUM MINING PLC

        First Day of Dealings on the Alternative Investment Market (AIM)


Aurum Mining plc (Aurum), a company formed to acquire gold and other mineral
extraction projects in the Former Soviet Union (FSU), is pleased to announce its
flotation today on the Alternative Investment Market (AIM) of the London Stock
Exchange.

•    Aurum has a strong management team led by Chairman Sean Finlay, who
     has more than 30 years' experience in the mining industry and who was 
     formerly the managing director of Celtic Resources Holdings plc.

•    The price of gold has been rising steadily since the middle of 2001,
     enhancing the economics of gold extraction projects. The Directors believe 
     the price of gold is likely to remain buoyant.

•    Aurum has secured the services of David Bryans, who has more than 10
     years' experience of assessing mining projects in the FSU and who was
     instrumental in the formation of Celtic Resources Holdings plc. Mr Bryans's
     company, Tyry Services Limited, will work exclusively to bring suitable 
     projects for review by Aurum.

•    Haresh Kanabar, Executive Business Development Director, will take
     responsibility for Aurum's finances until a finance director is appointed, 
     which is expected at around the time of the Company's first acquisition. Mr 
     Kanabar, who has extensive business experience, qualified as an accountant 
     in 1986.

•    Through its Chairman, and the consultancy contract with Tyry Services
     Limited, Aurum has access to an extensive pool of experience of mining
     operations in the FSU, which the Board believes offers opportunities for 
     the profitable development of gold and other mineral extraction projects.

•    Aurum's strategy is based on the Directors' belief that:

          -    there are a number of Soviet era mineral finds that are 
               documented but have been unexploited or underdeveloped

          -    record keeping of mineral finds in the Soviet era was generally 
               good with a tendency towards conservatism in the estimate of 
               reserves

          -    the use of modern technologies for the extraction and treatment 
               of ores allows older finds to be reappraised and values to be 
               adjusted

          -    political development within the FSU is towards stronger 
               government and an improved rule of law, enabling business to be 
               conducted more easily.

•    £1,413,000 (after expenses) was raised for Aurum via a Placing at the
     Placing price of 47p per Ordinary Share by W H Ireland Ltd.

•    The funds raised will be used for carrying out due diligence on
     potential mining projects.

•    W H Ireland is the Company's nominated adviser and broker.


Commenting on the flotation, Sean Finlay, Aurum's non-executive Chairman, said:
'I am delighted with the response to the flotation and I am confident that we
have the right strategy and experience to create shareholder value through the
successful acquisition of gold projects in the Former Soviet Union.'


                            PLACING STATISTICS

Number of Ordinary Shares in issue prior to the Placing                        5,000,000

Placing Price                                                                        47p

Number of new Ordinary Shares being issued under the Placing                   3,191,489

Percentage of the enlarged issued share capital of the Company held by New  
Shareholders following completion of the Placing                                     40%

Number of Ordinary Shares in issue immediately following completion
of the Placing and Admission                                                   8,191,489

Gross proceeds of the Placing                                                 £1,500,000

Estimated net proceeds of the Placing                                         £1,413,000

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For further information:

Aurum Mining plc
Haresh Kanabar                                       Tel: [phone]

W H Ireland                                          Tel: [phone]
Tim  Cofman

Buchanan Communications                              Tel: [phone]
Mark Court/Mary-Jane Johnson


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