Re: Eurogold Limited

24 Aug 2006 16:21

Oxus Gold PLC24 August 2006 news release Oxus Gold plc Eurogold Limited LONDON: Thursday,24 August 2006 - Following the announcement from EurogoldLimited ("Eurogold") dated 21 August 2006, Oxus Gold plc ("Oxus") can confirm ithas received proceedings issued in the Federal Court of Australia , against Oxusin the UK and against Oxus Holdings (Malta) Limited in Malta. Oxus terminated its purchase agreement with Eurogold because a material adversechange to the disclosed business and assets of Eurogold had occurred aftersigning the agreement. A number of significant matters had become apparent,including, but not limited to, the fact that the approved C1/C2 reserve ouncesfor the Saulyak deposit are significantly lower than the 578,000 oz figure thatOxus understood to be the approved amount. Oxus firmly believes that Eurogold's claim is without merit and will vigorouslypursue its defence and any counterclaims against Eurogold. End Further enquiries: Oxus Gold plc Tel: + 44 (0)20 7907 2000Richard Wilkins, Company SecretaryJoanna Solino, Investor Relations Officer Bankside Tel: + 44 (0)20 7367 8873Keith IronsOliver Winters This information is provided by RNS The company news service from the London Stock Exchange