Agreement

Aurum Mining PLC 29 September 2005 For immediate release 29 September 2005 AURUM MINING PLC ('Aurum' or 'the Company') Enters into Agreement to acquire majority stake in Russian exploration project Aurum Mining plc (AIM: AUR), the company formed last year to acquire gold and other mineral extraction projects in the Former Soviet Union ('FSU'), is pleased to announce that it has entered into a conditional agreement with Loyal Wealthy Limited ('Seller') to purchase 51 per cent of the share capital in Open Joint-Stock Company Geocentr ('Geocentr'), a Russian company that owns an exploration licence and abandoned gold mine in the Russian Far East, for an initial consideration of $371,000. The agreement is conditional upon, inter alia, the completion of satisfactory due diligence by Aurum on Geocentr. Aurum believes that Geocentr will give the Company exposure to a significant exploration opportunity. The acquisition of a majority stake in Geocentr is consistent with the Company's strategy of building a portfolio of assets in the FSU. Geocentr's principal asset is the Igumenskoye-Klin exploration licence in the Magdan Oblast region of the Russian Far East ('Project'). The licence, which extends to 48 sq km, includes the abandoned Igumenov gold mine. Between 1944 and 1967 Igumenov yielded 382,000 ozs of gold at an average grade of 9.8 g/t. Aurum believes that Igumenov may have further lower grade reserves and that it may be possible to reopen and exploit the mine using modern techniques via a pit mining operation. Geocentr's current activity is limited to managing the exploration potential of the licence area and as a result it has no significant income. It incurred losses for the year ended 31 December of £0.2 million. The initial consideration for the Geocentr shareholding is $371,000 which is payable in cash. Further consideration of up to a total of $2.35 million ('Further Consideration') is payable in two stages dependent on the measured and indicated ore reserves of gold at the Project as stated in the final feasibility report. At the option of the Seller, the Further Consideration may be applied to subscribe for up to a maximum of 2,600,000 ordinary shares in the Company. If for whatever reason the acquisition does not complete, the benefit of the outstanding loan of $170,000 to Geocentr will be assigned from Aurum to the Seller. Commenting on the agreement, Sean Finlay, Aurum's Chairman, said: 'The acquisition of a majority stake in Geocentr would bring a significant new exploration opportunity to Aurum. The licence owned by Geocentr has the attraction of combining a mine that may be capable of further exploitation with a significant exploration asset. Geocentr would also provide an ideal complement to our existing asset in the Kyrgyz Republic, which is moving closer to production.' For further information: Aurum Mining plc Tel: 020 7478 9050 Sean Finlay, Chairman Mark Jones, Chief Executive W H Ireland Tel: 0121 616 2101 Tim Cofman Buchanan Communications Tel: 020 7466 5000 Mark Court Notes for editors About Aurum Mining Aurum Mining joined the AIM market of the London Stock Exchange in May 2004 with the strategy of seeking, evaluating and acquiring gold and other mineral extraction projects in the Former Soviet Union (FSU). In January 2005 the Company completed its first acquisition, giving the Company an exploration licence over a gold and copper project in the Kyrgyz Republic. In its State Register, the State Commission of Resources of the Kyrgyz Republic has included 21.7 million tonnes of C1 and C2 reserves from the project, amounting to gold and gold equivalent of more than 1.5 million ozs. This information is provided by RNS The company news service from the London Stock Exchange