Asacha update

30 May 2006 13:06

Trans-Siberian Gold PLC30 May 2006 Trans-Siberian Gold plc TSG gets extension to Asacha licence LONDON: 30 May 2006 - Trans Siberian Gold plc ("TSG" or "the Company") (TSG.L)is pleased to announce that significant progress has been made during recentweeks in the development of the Asacha gold mine in Kamchatka, Far East Russia. It was reported on 21 February 2006 that the Asacha project was to proceedsubject to fulfilment of certain technical conditions and to receiving certainregulatory approvals, permits and an extension to the production condition inthe Asacha licence. The terms of the Asacha licence have now been amended andproduction of the first 1,000 kg of gold must be achieved by the end of 2008. The terms of the licence for Rodnikova, TSG's other property in Kamchatka, havealso been amended, whereby its reserve and resource statement must be approvedby the State geological authorities by December 2008 with production to commencein 2012 or after the depletion of the Asacha ore. Jonathan Best, CEO, said: "We are pleased to have received approval for the modifications to the Asachalicence and we are now well placed to finalise the financing arrangements andproceed with the project. A further announcement on financing can be expectedwithin a week." Contacts: Jonathan Best (Managing Director, TSG) +44 1223 265761 +27 82 559 8018 Stuart Lane (Seymour Pierce) +44 (0) 20 7107 8000 Keith Irons (Bankside) +44 20 7367 8873Oliver Winters (Bankside) +44 20 7367 8874 This information is provided by RNS The company news service from the London Stock Exchange