Issue of Equity - Amendment

Eurasia Mining PLC 23 May 2002 The issuer advises that the following amends the Issue of Equity announcement released today at 07:00 under RNS number 2997W. Dealing in the new shares is expected to commence on 30 May 2002 and not 30 June 2002 as previously stated. All other details remain unchanged and the full amended text appears below. EURASIA RAISES £300,000 Eurasia Mining PLC ('Eurasia') is pleased to announce the placing of 2,195,000 new Ordinary Shares at 14 pence each, to raise approximately £300,000 net of expenses. The shares have been placed with existing shareholders, including Gartmore Asset Management as well as institutional and private clients of Eurasia's stockbrokers W H Ireland Limited. Following the share placing, Gartmore Asset Management's shareholding increases to 4.32% The proceeds of the share placing will be utilised to fund Eurasia's continuing Platinum Group Metals exploration programmes in the Urals region of Russia and in the Bushveld region of South Africa. Simultaneously to the share placing, Framlington Russian Investment Fund ('FRIF ') is converting £120,588 (US$175,564) of loan stock into 936,240 new Ordinary Shares at the placing price (less a previously agreed 8% discount thereto). Following this conversion, FRIF maintains its 29.9% shareholding position, and US$814,529 (£559,468) of its loan stock remains outstanding, and convertible or otherwise repayable in accordance with terms previously announced. Following the share placing and conversion of loan stock, Eurasia's issued share capital has increased to 39,350,964 Ordinary Shares. Application has been made for admission of the new Ordinary Shares to trading on the Alternative Investment Market. Dealing in the new shares is expected to commence on 30 May 2002. 23 May 2002 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: Dr. Michael Martineau, Deputy Chairman Tel: +44 20 7976 1222 Robert Jenkins, Finance Director Tel: +44 20 7976 1222 Laurie Beevers, W H Ireland Limited Tel: +44 161 819 8724 Allan Piper, Blackstone Communications Tel: +44 20 7251 2544 This information is provided by RNS The company news service from the London Stock Exchange