Drilling Results

Eurasia Mining PLC 18 November 2002 Eurasia Mining Plc New drilling results extend Kluevsky palladium-gold discovery 18 November 2002: Eurasia Mining PLC, the AIM quoted company active in South Africa and Russia, is pleased to announce further encouraging results from its autumn grid-drilling programme on the Kluevsky palladium-gold project in the Urals. The results show ore grades similar to those that have formed the basis for large-scale open pit mining in parts of Eastern Canada, where reserves grading 1.5 grams/tonne (g/t) palladium are exploited. Drill holes sited on the main target area are reported in detail on the attached table. The results come from drill-holes KL10, KL13, KL14, KL15 and KL16, and confirm earlier results from KL7 and KL9. The latest drilling tested the central section of a 1.5 kilometre long target. It is the first target in a program designed to prove up a large open-pit platinum group metal resource within the 350 square kilometer exploration licence held by Eurasia in the Kleuvsky region. The results confirm the continuity of mineralisation both along strike and depth, and give confidence in the geological model being used by Eurasia to predict the locations of higher grades. Results for three further drill holes are still awaited. Bill Anderson, Eurasia's Operations Director said, 'We are encouraged that this new drilling enables us to define coherent blocks at depths suitable for open pit mining. This is an important first step on any new project where the controls on mineralisation need to be understood.' Mr. Anderson added: 'The remaining drill programme includes step-out holes designed to extend the test to 900 metres east along strike. The next objective must be to build up a substantial tonnage of at least this grade at Kluevsky and other targets within the licence area.' Results from the drill holes still to be completed under the autumn programme are expected in early December. The Drill hole results are as follows: Hole Depth of Thickness Pd Au Pd+Au+Pt* intersection (metres) (metres) (g/t) (g/t) (g/t) PREVIOUSLY REPORTED FROM SAME AREA KL 7 32.2 7.5 1.81 0.17 2.03 48.0 5.3 0.93 0.38 1.33 KL 9 20.7 10.6 2.85 1.03 3.96 NEW RESULTS KL10 5.3 1.0 0.84 0.10 1.01 KL13 12.7 5.4 2.21 0.38 2.64 25.5 2.0 1.25 0.12 1.44 88.8 1.5 1.94 0.10 2.13 110.8 3.9 0.90 0.10 1.04 113.6 1.3 1.13 0.06 1.24 KL14 27.3 2.2 1.00 0.26 1.31 62.5 7.5 1.70 0.21 1.96 70.1 14.2 1.18 0.19 1.39 94.2 3.5 1.68 0.07 1.80 KL15 27.0 2.0 0.60 0.13 0.74 KL16 15.0 2.9 1.48 0.13 1.65 37.0 6.4 1.90 0.21 2.19 53.7 11.6 1.57 0.12 1.76 *Palladium plus gold plus platinum For further information contact: Michael Martineau/Christian Schaffalitzky, Eurasia Mining PLC: +44 (0) 20 7976 1222 Laurie Beevers, W H Ireland: +44 (0) 161 819 8724 Allan Piper, First City Financial Public Relations: +44 (0) 7050 203 304 This information is provided by RNS The company news service from the London Stock Exchange