EGU.L Regulatory News (EGU)

22 Nov 2006 07:01

Celtic Resources Holdings PLC22 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 announcethat it has agreed to a purchase of concentrates for processing at its SuzdalBIOX(R) plant in Kazakhstan from Hellas Gold S.A. a subsidiary of EuropeanGoldfields Limited. The initial contract is for the purchase of 9,000 wet metric tones (wmt) ofconcentrates containing approximately 6,000 oz of gold. Shipments are expectedto be completed by the end of Q1 2007. Samples of these concentrates have beensuccessfully tested for processing at the Suzdal BIOX(R) plant. If the initialshipments prove successful Celtic then has intention to purchase up to anadditional 120,000wmt of concentrates from Hellas Gold. Kevin Foo, Managing Director comments, "This is the first step in the plan toprocess third party concentrates as a means of capitalising on our technologyadvantages at Suzdal in treating refractory ores." For further information please contact: Kevin Foo / Kate Dexter Smith Laurence ReadCeltic Resources Holdings Plc Conduit PRTel: + 44 (0)20 7921 8800 Tel: +44(0)20 7429 6666Investors@celticresources.com laurence@conduitpr.com Frank Moxon / Simon EdwardsEvolution Securities LimitedTel: +44 (0) 20 7071 4300 www.celticresources.com This information is provided by RNS The company news service from the London Stock Exchange