Chairman's Statement

Eurasia Mining PLC 21 July 2000 Chairman's Statement at Annual General Meeting At the Annual General Meeting of Eurasia Mining PLC held today, the Chairman, Mr J A Mitchell, in a statement to shareholders said: Our work this year is designed to bring the company to the stage where we are mining, processing, producing and selling finished product which will generate a positive cash flow while at the same time seeking to expand our resource base with the long term objective of becoming a substantial PGM producer. At Baronskoye the drilling programme is well under way and metallurgical test work has commenced. Subject to timely and satisfactory outcomes of these two activities we anticipate entering into a toll treatment agreement with a nearby ore processing plant which would enable us to move rapidly into small scale low cost palladium production. Fieldwork is progressing very well at on our other projects, including our Amplats joint venture, and we plan to drill at both Soloviev Hill and Vissim in the near future. Until the middle of last year we were, largely speaking, alone in the Urals. However in the autumn we formed our joint venture with Amplats, the world's largest platinum producer, and this perhaps helped bring a new focus to the region and to the country. Some major international mining houses are now starting to increase their level of activity and I would expect this trend to continue. We view this trend very positively for a small company that has determinedly stuck to its belief. It is becoming increasingly recognised that President Putin and the new political authorities in Russia, who are anxious to attract foreign investment, are creating a much more friendly investment environment, reducing some of the tax burden, introducing new laws and workable regulations - most of which augers well for the mining industry and Eurasia Mining. Platinum Group Metals are the new millennium metals and you will have noticed the steady increase in the world prices, brought about by strong industrial demand and the anticipation of increasing uses in fuel cell technology, computer hard discs, catalytic converters and increasing calls for white metal jewellery. I am confident that when I am addressing this meeting at the same time next year that there will have been further significant progress and that we will have some exciting production statistics to report to you. Listing: Alternative Investment Market, London Stock Exchange Code: EUA Web Site: www.eurasia-mining.plc.uk Email: info@eurasia-mining.plc.uk For further information please contact: Andrew Counsell, Managing Director Tel: +44 20 7976 1222 Paddy Manning, The Paddy Manning Company Tel: +44 20 7930 0777