Oxus Gold Plc Regulatory News (OXS)

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Oxus Gold Plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to thenotification obligation: iii

1. RAB Capital Limited acting as discretionary manager for RAB Special Situations (Master) Fund Limited; and

2. William Philip Seymour Richards

4. Full name of shareholder(s)  (if different from 3.):iv

1. Credit Suisse Client Nominees (UK) Limited

2. Fitel Nominees Limited

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

03/11/2014

6. Date on which issuer notified:

22/12/2014

7. Threshold(s) that is/are crossed orreached: vi, vii

6%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ordinary Shares GB0030632714

33,650,000

33,650,000

n/a

n/a

30,150,000*

n/a

5.64%

Ordinary shares

GB0030632714

1,375,399

1,375,399

n/a

n/a

1,375,399**

n/a

0.26%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

31,525,399

5.86%***

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

*RAB Capital Limited acts as investment manager for RAB Special Situations (Master) Fund Limited (the "Fund") which is the beneficial owner of the securities to which these voting rights are attached. The legal title to these securities is held on behalf of the Fund by its nominee, Credit Suisse Client Nominees (UK) Limited.

*\* These shares are beneficially held by Mr. William Philip Seymour Richards who is the appointed Fund Manager of RAB Special Situations (Master) Fund Limited and is an employee and executive director of RAB Capital Limited. The legal title to 1,375,399 of these shares is held on Mr Richards' behalf by his nominee, Fitel Nominees Limited.

Owing to the chain of control all of the securities disclosed, we consider it appropriate to aggregate the holdings of the Fund and Mr Richards as per Box 8 above.

Proxy Voting:

10. Name of the proxy holder:

n/a

11. Number of voting rights proxy holder will ceaseto hold:

n/a

12. Date on which proxy holder will cease to holdvoting rights:

n/a

13. Additional information:

***this figure was calculated using 534,940,146 as the Issuer's outstanding share capital.

In addition to the holdings disclosed herein, RAB Special Situations (Master) Fund Limited also beneficially owns a US$6,000,000 convertible loan note maturing on 14/12/2015 and convertible until and beyond expiration. As at 22/12/2014, we estimate this instrument is convertible into a further 50m ordinary shares in the Issuer, subject to agreement on the amount of accrued interest with the Issuer.

14. Contact name:

RAB Capital Limited - Legal Team

15. Contact telephone number:

020 7389 7000