Draw Down of Funds & Issue of Equity

9 October 2012

Oxus Gold plc

Draw Down of Funds and Issue of Equity

Oxus Gold plc ("Oxus" or the "Company") has raised net proceeds of £406,917 by drawing down on it its Equity Financing Facility ("EFF") with Darwin Strategic Limited ("Darwin"), a majority owned subsidiary of Henderson Global Investors Alphagen Volantis Fund.

Under the terms of the EFF agreement, the Company has today issued 17,166,666 new ordinary shares of 1p each to Darwin (the "New Oxus Shares"). The New Oxus Shares have been issued at a gross price of 2.48p per share and rank pari passu in all respects with the existing ordinary shares of 1p each in Oxus.

The drawn down on the EFF is the first undertaken by the Company and the gross price per share represents a premium of 11.7% per cent to the closing mid-market price per Ordinary Share on 8 October 2012, being the latest practicable date prior to this announcement.

Application will be made to the London Stock Exchange for the New Oxus Shares to be admitted to trading on AIM. It is expected that the admission will become effective and that trading in the New Oxus Shares will commence on 15 October 2012 ("Admission").

Following Admission, the Company's enlarged issued share capital will comprise 438,138,995 ordinary shares with voting rights. The Company does not hold any shares in treasury. This figure of 438,138,995 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

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