Company Profile

The Oxus Group was established in 1996 and quoted on the Alternative Investment Market (AIM) in London in 2001.

Oxus Gold plc is a UK based international mining group with gold mining interests in Central Asia. Oxus is the joint owner (50/50) with the government of Uzbekistan of Amantaytau Goldfields (AGF) which is developing several mining operations in the Tien Shan gold belt near Zarafshan.

The first mine was constructed and commissioned by Oxus in January 2004 on time and within budget and commercial production began the following month. AGF has since produced more than 270,000 ounces of gold to the end of September 2005 and is now producing at the planned rate of 151,000 onces per annum.




Amantaytau - Jul 2004





Contact details

Oxus Gold plc - Head & Registered Office

Tel: +44 (0)20 7907 2000
Email: enquiries@oxusgold.co.uk

Web: www.oxusgold.co.uk


For Oxus Gold press releases, click HERE

Oxus Gold PLC
02 April 2007



news release



For immediate release - Monday, 2 April 2007







OXUS GOLD PLC



Interim results for the six months ended 31 December 2006



LONDON: Monday, 2 April 2007 - Oxus Gold plc ('Oxus') or ('the Company') is
pleased to report its interim results for the six months ended 31 December 2006
(the 'period').



Highlights



Net loss on ordinary activities of $4.214 million compared to a net profit
of $4.293 million for the same period for 2005.



AGF reports $2.440 million loss for the period and $8.855 million profit
for the year ended 31 December 2006.



AGF operations materially disrupted by a State 'complex' tax, customs and
compliance audit, but normal operations now being restored.



Uzbek courts reject $224 million out of a total $225 million in tax and
customs claims arising from the State audit.



AGF Vysokovoltnoye project has to date produced 2,814 kgs of dore
containing 74,351 ounces of silver and 2,552 ounces of gold. Refining
contract signed and first silver sales expected in April 2007.



AGF Vysokovoltnoye plant stockpile of 62.78 tonnes of concentrate
containing 617,508 ounces of silver and 7,864 ounces of gold.



Production commenced at AGF's Asaukak oxide deposit.



AGF's exploration activities focus on finding new oxide resources and
extensive exploration programme planned for 2007.



Encouraging results from further metallurgical testwork at AGF's
underground sulphide project.



Agreement in principle to sell Kyrgyz, Romanian and Turkish interests for
minimum consideration of 3.54 million KazakhGold shares, currently valued at
approximately $81 million with potential additional consideration of up to
$80 million in cash conditional on KazakhGold obtaining a licence to develop
the Jerooy gold project.



Zeromax, Uzbekistan's largest private sector company, purchases a 6.94%
strategic stake in the Company.




FINANCIAL RESULTS



The Group reported an unaudited loss on ordinary activities of $4.214 million
for the six months ended 31 December 2006 (2005: $4.293 million profit) and a
loss of $4.232 million (2005: $3.779 million profit) after taxation and minority
interests.



The Group's activities during the period were adversely affected by a State '
complex' tax, customs and compliance audit carried out by the Uzbek authorities
at the Amantaytau Goldfields (AGF) project in Uzbekistan, which materially
disrupted the ongoing operations at AGF. As a result AGF contributed a loss of
$1.220 million (2005: $4.521 million profit) towards gross revenue, being the
Group's 50% share of the loss for the six month period. However, AGF reports a
profit of $8.855 million (2005: $13.263 million) for the year to 31 December
2006 after tax and debt service.



OPERATIONS



The following table summarises AGF's operating results for the six months to 31
December 2006.




AGF Operations

6 months 6 months 6 months Year Year
31/12/06 30/6/06 31/12/05 31/12/06 31/12/05

Ore mined, tonnes 454,400 770,900 746,700 1,225,400 1,567,500
Ore processed, tonnes 561,100 814,300 795,400 1,375,500 1,465,500
Average grade (g/t) 2.4 3.4 4.3 3.0 4.5
Average gold recovery (%) 80.6 69.8 76.7 73.4 77.1
Gold produced, ounces 35,235 62,818 84,119 98,053 161,615
Gold sales, ounces 27,499 62,843 91,195 90,342 163,666
Hedge ounces 0 0 76,699 0 140,307
Spot ounces 27,499 62,843 14,496 90,342 23,359
Average gold price per ounce ($) 608 594 353 598 346
Average cash cost per ounce ($) 536 329 196 392 202
Average total cost per ounce ($) 623 366 221 445 230
Net profit (loss) after tax & debt (2,440) 11,295 9.042m 8,855 13,263
service ($m)




During July and August 2006 AGF underwent a State 'complex' tax, customs and
compliance audit as part of the established regulatory procedure. All
enterprises in Uzbekistan are subject to this procedure every three years. As a
result of the audit, the State tax and customs authorities claimed approximately
$225 million in taxes, customs duties, fines and penalties for alleged breaches
of the Uzbek tax law. Subsequently the Navoi Regional Economic Court and the
Tashkent Supreme Economic Court have rejected $224 million of these claims. Oxus
made provision within its annual accounts to 30 June 2006 to cover its 50% share
of the outstanding liability of $1 million.



The State audit materially disrupted the ongoing operations of AGF due to
various restrictions imposed on assets and bank accounts whilst the tax and
customs claims were passing through the Uzbek legal process. Although operations
were able to continue at a reduced level, AGF was unable to operate at maximum
efficiency resulting in accelerated depletion of oxide ore stockpiles and a
subsequent reduction in the grade and quality of ore feed to the processing
plant and reduced plant running times. In addition the financial disruption led
to shortages of diesel, lime and steel balls, and interruptions to the refining
process. As a result, at 31 December 2006 approximately 16,000 ounces of gold in
refined or dore format had been stockpiled. This gold has been sold during 2007
and as various restrictions have been lifted, normal operations are now being
restored. Gold production for the latter half of 2006, however, was still well
below target.



Production at Vysokovoltnoye was also disrupted although the irrigation of the
stacked ore and the operation of the Merrill Crowe plant continued throughout
the period. Hence production of concentrate continued. At 31 December 2006 a
total of 358,800 tonnes had been stacked, all of which was under irrigation, and
to date 2,814 kgs of dore containing 74,351 ounces of silver and 2,552 ounces of
gold have been produced. In addition to this the plant has stockpiled 62.78
tonnes of concentrate containing 617,508 ounces of silver and 7,864 ounces of
gold. A new smelting furnace will be commissioned during April and a refining
contract with the Almalyk Mining and Metallurgical Combinat has now been signed.
First silver sales are expected in April and are then scheduled to average 5
tonnes per month for the remainder of 2007, increasing to 8 tonnes per month in
2008 with increased production and improved refinery performance.



During the period AGF also paid approximately $3.5 million in taxes that it had
previously been exempted from by virtue of tax privileges granted to AGF by
decrees of the Uzbek Government. AGF's legal advisers maintain that Oxus, as a
foreign investor, is protected under Uzbek law from adverse changes to its
investment environment until 2010. Discussions are currently underway with the
Uzbek Government with a view to mitigating the impact of these additional taxes,
and Oxus is hopeful that a positive outcome will be forthcoming.



Underground Sulphides Project



The underground AGF sulphides project study is currently receiving final
comments from the relevant Uzbek State authorities, and the study is expected to
be submitted for final approval during May. This report will provide the
positive go-ahead for AGF to develop the sulphides project.



The sulphides project is designed to mine the deeper sulphide extensions to the
oxide ore bodies currently being mined by open pit methods by AGF at Centralny
and also to mine the underground Severny ores. Combined they contain ore
reserves of 9.71 million tonnes at an average grade of 7.71 g/t containing 2.41
million ounces of gold, within a mineral resource of 12.4 million tonnes at an
average grade of 8.7 g/t and containing 3.5 million ounces of gold at a cut-off
grade of 3.5 g/t gold. The total mineral resource is 17.73 million tonnes at an
average grade of 6.84 g/t containing 3.9 million ounces of gold at zero cut-off
grade. The project is expected to commence production in 2009 and will produce
an average of 6.8 tonnes of gold annually.



AGF has also commenced testwork and investigations into the option of creating a
superpit from the existing Centralny oxide pits. This transitional and sulphidic
ore would be fed to a modification of the existing oxide processing plant. If
economically viable, initial capital costs would be greatly reduced and first
production from the project would be accelerated. A proposal to carry out the
scoping study for this option is currently being compiled.



Exploration



Exploration activities during the period continued to focus on finding new oxide
resources and proving up new reserves for AGF. Initial grade control evaluation
has been completed for the upper benches of the Asaukak deposit. Pre-stripping
is now completed and ore production started in the first quarter of 2007.



Pit designs have been prepared for the Uzunbulak deposit, and are currently
being submitted to the relevant Uzbek authorities for approval prior to
finalising production schedules and revising the operational reserve estimate.



Work has progressed on new deposit models for the Northern Asaukak, Aksai and
Sredinny deposits. Final resource definition reverse circulation (RC) drilling
for these deposits remains to be completed in the first half of 2007, prior to
completing wire framing and geostatistical modelling. In addition RC drilling is
scheduled in 2007 for the Sredinny South, Aksai North, North Western and
Northern Daugystau deposits. A detailed RC drilling programme is planned for
2007 at a cost of approximately $2.3 million, and a tender has been issued for a
new RC drilling contract.



Trenching and sampling is also planned for the Aksai North, North Western and
Northern Daugystau deposits.



The Amantaytau underground sulphide project is regarded as AGF's future main
source of high grade ore, and a programme of geotechnical drilling has been
completed as part of the decline access design. A total of 659 metres of
drilling was carried out using AGF's CS14 coring rig. Metallurgical testwork has
been carried out on the Amantaytau Severny sulphide ores and their amenability
to ultra fine grinding (UFG) and flotation as an alternative to biological
oxidation, which was the process technology originally selected. Testwork on UFG
of the sulphidic ores has produced very encouraging results. After initial
flotation the UFG results show that recoveries of almost 95% are achievable.
Additional sampling and testwork programmes are now being established.



Five holes have been drilled, again using AGF's CS14 rig, from the base of the
Amantaytau Centralny oxide pits, to intersect 'transition zone' and 'primary
sulphides' and provide further material for ultra fine grind and flotation
testwork. Consideration is being given to the deepening of the Centralny oxide
pits (now exhausted) into the underlying sulphides, as this may enable
production of high grade sulphide ores to be accelerated, in advance of Severny
underground sulphide production.



TRANSFER OF KYRGYZ AND ROMANIAN INTERESTS TO KAZAKHGOLD



On 12 March 2007 Oxus announced that it has agreed in principle to sell to
KazakhGold Group Limited (KazakhGold) its 100% interest in Norox Mining Company
Limited, which owns 66.67% of Talas Gold Mining Company in Kyrgyzstan, its 50%
interest in the Romaltyn joint venture in Romania, and certain exploration
assets in Turkey currently owned by Oxus' 86% subsidiary, Marakand Minerals
Limited, subject to Marakand board approval. KazakhGold is listed on the London
Stock Exchange (KZG.L).



The consideration for the sale of the assets will be satisfied by the issuance
to Oxus of 3,541,666 new ordinary shares in KazkhGold (currently valued at
approximately $81 million), plus a deferred payment of up to $80 million in
cash, payable in instalments, provided that KazakhGold obtains the requisite
licence to enable it to continue with the development of the Jerooy gold project
in Kyrgyzstan. Appropriate due diligence and asset valuations are currently
underway, together with the drafting of the relevant legal documentation and it
is hoped that the transaction can be completed as contemplated during April.



Oxus has spent approximately $65 million on the Jerooy gold project to date,
which is currently the subject of an investment dispute and international
arbitration. This expenditure includes the construction of a processing plant
which is approximately 80% complete. Construction was suspended in February
2006.



The Romaltyn joint venture in Romania, in which KazakhGold already has a 50%
interest, owns a gold processing plant in Baia Mare and certain exploration
licences. These assets were jointly acquired by Oxus and KazakhGold in January
2007 following a successful bid in open auction. Oxus has spent approximately $4
million on the project to date, including its share of the purchase price.



The transfer of the Hatay and Karakilise exploration licences in Turkey will be
subject to KazakhGold's assessment of the economic viability of such assets, the
determination of an appropriate fair market value to be paid to Marakand by
Oxus, and approval of the Marakand board.



OTHER ACTIVITY



On 30 November 2006 Oxus announced that it had signed a subscription agreement
with Zeromax, Uzbekistan's largest private sector company, which brings Zeromax
into Oxus as a strategic investor and alliance partner. Pursuant to that
agreement Zeromax has purchased 22,255,293 shares and currently owns 6.94% of
the Company. The original subscription agreement provided for Zeromax to
purchase up to 57 million shares at 21.5 pence per share. Oxus has received a
written commitment from Zeromax that the balance of the subscription shares will
be paid for by 6 April 2007.



As announced in July 2006 Oxus terminated its contract to acquire the Ukrainian
assets of Eurogold when it became apparent that Eurogold's approved C1/C2 gold
resources were not 578,000 ounces as the Company had been led to believe, but
only 364,000 ounces. Oxus offered to pay for the approved ounces, and for the
balance once proved up. Eurogold rejected this offer and commenced litigation in
the Australian Federal Court. Oxus has opposed the jurisdiction of the Court and
awaits the Court's decision. Costs of $482,000 have been incurred during the
period with respect to this litigation.



On 4 August 2003 the Company cancelled 5,000,000 warrants for shares exercisable
at 15.25 pence per share, believing that it was entitled to do so. The grantee,
Templeton Insurance Limited, disputed this cancellation, and following
litigation the warrants were ordered by the court to be reinstated. In the
litigation the grantee asserted an entitlement, under an adjustment provision in
the original warrant deed, to an additional 3,313,380 warrants. The Company
disputes this entitlement and the results of a recent court hearing are
currently awaited. During the period a further $2.35 million was charged to the
profit and loss account, representing additional legal costs of $1.1 million and
a provision of $1.25 million to reflect a reduction in the value to the Company
of the reinstated warrants based on the Company's share price at 31 December
2006.



The Board has decided to cancel a total of 2,705,000 options, of which 2,675,000
were held by directors, and which were exercisable at 54p and were due to vest
on the first gold pour at Jerooy.

Oxus Gold PLC
26 April 2007



Oxus Gold plc


Oxus sells Kyrgyz, Romanian and Turkish interests to KazkhGold


LONDON: 26 April 2007 - Following its announcement on 12 March 2007, Oxus Gold
plc ('Oxus' or the 'Company') (OXS.L) is pleased to announce that it has signed
an agreement with KazakhGold Group Limited ('KazakhGold') (KZG.L) for the sale
of the following assets:


- its 100% interest in Norox Mining Company Limited. Norox owns 66.67%
of Talas Gold Mining Company in Kyrgyzstan;

- its 50% interest in Romaltyn Limited; and

- a 25% interest in Hatay Madencilik SA and the right to an option
relating to the Karakilise copper deposit licence in Turkey, currently
owned by Oxus 86% subsidiary, Marakand Minerals Limited;


(together the 'Sale Assets').


As consideration for the purchase of the Sale Assets, Oxus will receive
3,541,666 new ordinary shares in KazakhGold (currently valued at approximately
$82 million) ('KazakhGold Shares'). In addition deferred consideration of up to
$80 million is payable in cash within 30 days of KazakhGold acquiring, or
acquiring the benefit of, a licence to mine the Jerooy gold deposit in
Kyrgyzstan and commencing development or production at Jerooy. The initial
consideration represents approximately 7% of the enlarged share capital of
KazakhGold.


The sale will complete upon the delivery of the appropriate title documents,
including the share certificates and transfer documents in respect of the Sale
Assets by Oxus in exchange for the KazakhGold Shares. Completion is expected to
occur on or about 15 May 2007.


Oxus intends to convert the non-trading KazakhGold Shares into tradeable global
depositary receipts ('GDRs') and to deposit them into KazakhGold's GDR
programme. KazakhGold GDRs trade on the London Stock Exchange, with one GDR
representing one share.


As previously announced, Oxus intends to distribute all or a large portion of
the KazakhGold GDRs by way of a dividend. For those Oxus shareholders who may be
prohibited from receiving the GDRs due to US securities legislation, it is
intended that a cash alternative will be offered. Further details regarding the
dividend will be supplied to shareholders in due course.


Bill Trew, CEO of Oxus, commented 'We are delighted that we were able to reach
an agreement so quickly and we now look forward to completing the transaction.
We believe this transaction represents a very positive outcome for our
shareholders, particularly as it will enable them to benefit from any positive
developments at Jerooy. We also look forward to returning value to our
shareholders by way of dividend. The Company will continue to focus on
increasing its gold production at Amantaytau Goldfields in Uzbekistan and to
evaluating other opportunities as they arise.'

LONDON (Thomson Financial) - Oxus Gold PLC said its Amantaytau Goldfields project stands to make cash savings of some 17 mln usd after the Government of Uzbekistan granted tax deferrals to the Phase I Oxides development.

The deferred taxes and duties will become payable in 6 monthly instalments starting from Nov 1 2008. This liability will be financed as part of the capital cost of the Phase II Sulphides Project, Oxus said.

It estimates the cash saving to Amantaytau Goldfields (AGF) during this 18 month period will be some 970,000 usd per month.

AGF is also in the process of agreeing a new mechanism for recovering VAT paid, including an offset against various taxes currently payable. As a result, the group said restrictions previously imposed on AGF's bank accounts have been largely reduced, and are expected to be removed altogether as these discussions are finalised.

Oxus CEO Bill Trew said the deferral of these taxes will have a significant impact on AGF's current oxide operations, and the group now has every incentive to move the sulphides project forward as quickly as possible.

'We continue to assess the viability of a sulphide open pit as an extension to the existing Centralny oxide pit with a view to accelerating production from the sulphides and reducing initial capital costs,' he added.

Trew said the Uzbek Government has given the group clear instructions to speed up the sulphides project and, all going well, it would hope to have first production from a sulphide open pit by the end of next year.

tf.TFN-Europe_newsdesk@thomson.com

LONDON (Thomson Financial) - KazakhGold Group Ltd said it has completed the transaction with Oxus Gold PLC to buy Norox Mining Co Ltd, issuing 3.54 mln of its shares to Oxus valued at about 75 mln usd.

KazakhGold said the transaction also included 50 pct of Romaltyn Ltd, the right to an option relating to the Karakilise copper deposit licence in Turkey from its Oxus Resources Corp subsidiary.

However KazakhGold has not acquired the 25 pct interest in Hatay Madencilik SA.

Separately, Oxus Gold said it has begun the process of converting these non-trading KazakhGold shares into tradeable global depository receipts, which trade on the London Stock Exchange, with one GDR representing one share.

It reiterated that it plans to distribute all or a large portion of the KazakhGold GDRs by way of a dividend.

news release

For immediate release: Friday, 1 June 2007

OXUS GOLD PLC

Distribution by Oxus of its holding of KazakhGold GDRs

LONDON: 1 June 2007 - Oxus Gold Plc, ('Oxus' or 'the Company') (OXS.L) has today
mailed a circular to convene an extraordinary general meeting of the Company
('EGM') at 11.00 am on Wednesday, 20 June 2007, for the purpose of seeking
shareholder approval for the distribution to shareholders of a dividend in
specie of KazakhGold Group Limited ('KazakhGold') global depositary receipts
('GDRs') held by Oxus.

On 12 March 2007 Oxus announced that it had agreed in principle to sell to
KazakhGold its Kyrgyz, Romanian and certain Turkish assets in consideration of
the issue to Oxus of 3,541,666 new KazakhGold shares. The transaction was
completed on 10 May 2007.

The KazakhGold shares received by Oxus, which are not trading on any exchange,
have been converted into KazakhGold GDRs, on the basis of one share being equal
to one GDR, and these have been admitted to the Official List and to trading on
the main market of the London Stock Exchange.

Conditional on shareholder approval Oxus will distribute the KazakhGold GDRs to
shareholders on the basis of one GDR for every 110 Oxus shares held at the
record date of Friday, 22 June 2007. Fractional entitlements arising from
individual holdings of Oxus shares which are not exactly divisible by 110 will
be aggregated and retained by Oxus for the benefit of all shareholders.

The KazakhGold GDRs can only be held electronically and Oxus shareholders who
currently hold their Oxus shares in certificated form will need to arrange for
the GDRs to be held in a CREST account before distribution to them can be made.
Full details of the arrangements they will need to make are included with the
circular sent to shareholders.

A KazakhGold GDR is a bank certificate issued by the Bank of New York which
represents one KazakhGold share. At close of business on Wednesday, 30 May 2007,
the mid-market price of each KazakhGold GDR on the London Stock Exchange was
US$20.40, equivalent to 10.33 based on the dollar/sterling exchange rate on
that day, and equal to 9.39p per Oxus share.

The EGM will be held at the offices of the Company, 105 Piccadilly, London, W1.

LONDON (Thomson Financial) - Oxus Gold PLC said its Amantaytau Goldfields project in Uzbekistan has exported its first silver bullion, following the approval from the Uzbekistan government.

A total of 44,038 ounces of silver bullion was shipped to London and sold for 553,998 usd, the company said in a statement.

A further 437,539 ounces of silver in dore form is currently being refined in Uzbekistan, or waiting to be refined into bullion, it added.

On May 10, Oxus Gold had said its Amantaytau Goldfields project stands to make cash savings of some 17 mln usd after the government of Uzbekistan granted tax deferrals to the Phase I Oxides development.

The company has also said that it will distribute its KazakhGold global depository receipts (GDRs) to its shareholders by a dividend.

The dividend represents one KazakhGold GDR for every 110 Oxus shares.

bought in today...100p target price

I do think you could be right ! :)

Oxus Gold PLC
26 July 2007



news release

OXUS GOLD plc

Re: Transfer of KazakhGold GDRs

LONDON: 26 July 2007 - Oxus Gold plc ('Oxus' or the 'Company') (OXS.L) confirms
that KazakhGold global depository receipts ('GDRs') are being held for those
shareholders who have not yet notified the Company's registrars of their CREST
account details. The Company proposes that for those shareholders who have not
yet received their GDRs but who notify the Company's registrars of their CREST
account details by 31 July 2007 it will transfer their GDRs into the CREST
system on or around 3 August 2007. The GDRs are expected to settle within CREST
on or around 10 August 2007.

The number of GDRs for each shareholder is one GDR for every 110 Oxus shares
held. The applicable record date was Friday 22 June 2007 and the ex date as set
by the London Stock Exchange was 2 July 2007. Further transfers of GDRs will be
undertaken on a monthly basis as such CREST account details are provided by
shareholders to the registrars.


For further information, please contact:

Recent s.p.slide from 65p. down to 45p.-is it due to Jeerrooy fall out,any views.

65p ?? ONE !! Mr Daley , POLITICS !! I am sure it will all come out in the Wash!

Oxus Gold PLC
31 August 2007




Oxus Gold plc ('Oxus' or 'the Company')

Holdings in Company



Oxus Gold plc announces that on 31 August 2007, it was notified that as of close
of business on 30 August 2007, RAB Special Situations (Master) Fund Ltd. now
holds 99,439,071 ordinary shares in the Company, representing 27.21 per cent of
the total issued share capital of the Company. As of 30 August 2007, the total
issued share capital of the Company is 365,399,173 ordinary shares.



For further information, please contact:

somethings up!! more than 7M trades today

Yes a tic up & some big trades too ! :)

22 million trades!!

Oxus Gold PLC
22 October 2007


news release



For immediate release: 22 October 2007





OXUS GOLD PLC


LONDON: 22 October 2007 - Oxus Gold Plc, ('Oxus' ) (OXS.L) is pleased to
report that its 84% owned subsidiary, Marakand Minerals Limited ('Marakand' or
the 'Company') has today issued a statement announcing the convening of an
Extraordinary General Meeting ('EGM') to amend its Articles of Association to
enable Oxus to compulsorily acquire those ordinary shares of Marakand which it
does not currently own. Extracts from the Marakand EGM circular are repeated
here for the benefit of the Oxus shareholders.



Extract from Extraordinary General Meeting Circular

Proposed Amendment to the Articles

Introduction

The board of Marakand announces that it has convened an Extraordinary General
Meeting on 12 November 2007 to propose an amendment to the Articles of
Association of the Company ('Articles') to enable Oxus Gold plc to compulsorily
acquire the 16,459,073 ordinary shares of Marakand ('Ordinary Shares') which it
does not currently own ('Remaining Shares') in exchange for new Oxus ordinary
shares. The Remaining Shares represent approximately 15.96 per cent. of
Marakand's issued share capital. Assuming the resolution is passed at the EGM
and following completion of the acquisition Oxus intends to cancel admission of
the Ordinary Shares on AIM.


Background to the Proposal

Marakand is a mining exploration and development company focused on base metals
and silver. Its principal asset is its interest in the Khandiza polymetallic
deposit in South East Uzbekistan. Until recently, the Company had pursued a
strategy to acquire exploration assets in Turkey.

The Khandiza deposit contains, above a 2 per cent. zinc cut off, a JORC
classified and audited Measured and Indicated Resource containing 11.8Mt at an
average grade of 7.66 per cent. zinc, 3.65 per cent. lead, 0.91 per cent.
copper, 129 g/t silver and 0.38 g/t gold, plus an Inferred Resource containing
2.6Mt at an average grade of 5.36 per cent. zinc, 2.81 per cent. lead, 0.65 per
cent. copper, 161 g/t silver and 0.38 g/t gold.

Marakand obtained its interest in Khandiza under the Primary Exploration
Agreement. The Primary Exploration Agreement was originally entered into on 14
December 1996 between Goscomgeology (the State Committee of Geology and Mineral
resources for the Republic of Uzbekistan) and Oxus Resources Corporation ('ORC
'), which assigned it to Oxus Services Limited ('OSL') on 1 July 2002.

The Primary Exploration Agreement provides Marakand, together with Oxus and ORC,
with rights to conduct geological prospecting, prepare a feasibility study and
negotiate with Goscomgeology regarding the obtaining of an exploration licence
and the development of mining operations on the Khandiza deposit.

The feasibility study was satisfactorily completed and submitted to the Uzbek
Government as scheduled in October 2004. Subsequent progress on the project has
been limited. In August 2006, the Uzbek Government issued Presidential Decree
442, transferring the rights to develop the Khandiza deposit and related assets
from Goscomgeology to the State-owned Almalyk Mining and Metallurgical Combinat.
Since then, Marakand has been seeking to clarify the nature of its continued
role in the project with the Uzbek Government, but has had no response.

With the further passage of time, and difficulties in engaging with the Uzbek
Government, it appears increasingly unlikely that Marakand will be involved in
the future development of the Khandiza deposit.

In the event that Marakand has no future role in the Khandiza project, and in
light of the disposal of its exploration assets in Turkey, announced on 26 April
2007, Marakand would become a dormant company with no activities. However
Marakand remains the owner of the rights to the feasibility study and the
environmental and social impact assessment undertaken in relation to the
Khandiza project, together with associated geological exploration data, results
of all technical and engineering studies and financial analyses carried out
subsequent to June 1996. As at 30 June 2007, the book value of these studies was
US$9,405,000.

Following the various cost control measures which have been implemented since
January 2007, Marakand now has no full time employees. William Charter and
Oliver Prior are directors of Marakand and will continue to be directors of
Marakand until Marakand is de-listed from AIM.

Marakand has today announced, in respect of the year ended 30 June 2007, a loss
before tax of approximately US$19.4 million, after writing off approximately
US$19.1 million in respect of the Khandiza project. Net assets at 30 June 2007
amounted to approximately US$9.4 million.


Reasons for the Proposal

Oxus wishes to acquire the Remaining Shares, both to simplify the structure of
the Oxus group and eliminate unnecessary costs.

To do this Marakand has called the EGM to amend the Articles to insert a
provision enabling a shareholder who owns more than 75 per cent. of the issued
Ordinary Shares (being Oxus) to compulsorily acquire the Remaining Shares in
Marakand. This is the simplest and most cost effective method of acquiring the
Remaining Shares since they are held by more than 930 shareholders.

The Resolution will amend the Articles to permit a shareholder (being Oxus in
practice) who has acquired not less than 75 per cent. of the outstanding issued
share capital of the Company ('Acquiring Shareholder') to give notice ('
Acquisition Notice') to the minority Shareholders that it desires to acquire the
Remaining Shares. To pass the Resolution 75 per cent. of votes cast by
Shareholders at the EGM must approve the amendment.

Where an Acquisition Notice has been given by the Acquiring Shareholder it will
be entitled and bound to acquire the Remaining Shares on the terms of the
Acquisition Notice. The Directors understand that, provided the Resolution is
passed, it is the intention of Oxus to serve an Acquisition Notice on or around
19 November 2007. In this event the amended Articles would oblige Oxus to
acquire the Remaining Shares.

Upon successfully acquiring the Remaining Shares, Oxus intends to cancel the
admission of the Ordinary Shares on AIM.

Given that the longer term future of Marakand is in doubt, the Directors believe
that Oxus ordinary shares offer greater prospects of value accretion and have
more liquidity in the market than shares in Marakand. Furthermore, Oxus, as a
bigger entity, is in a better position to pursue recognition of Marakand's
rights in respect of the Khandiza deposit with Marakand as a 100 per cent.
subsidiary of Oxus.


Terms of the Acquisition

Subject to the passing of the resolution, Oxus intends to acquire the Remaining
Shares on the following basis:

For each 1 Ordinary Share held on the date of acquisition 0.135 new Oxus
ordinary share(s).

Fractional entitlements to new Oxus Ordinary Shares will not be allotted or
issued to shareholders. It is Oxus' intention to round down the number of Oxus
ordinary shares to be received by any such shareholder.

On the basis of Oxus' closing share price of 52.25 pence on 18 October 2007, the
terms of the acquisition value the entire issued share capital of Marakand at
approximately 7.3 million and the Remaining Shares at approximately 1.2
million. The terms of the acquisition represent a premium of approximately 20
per cent to Marakand's closing share price of 5.875 pence on 18 October 2007.

The Directors, who have been so advised by Arden Partners plc ('Arden Partners
'), believe that the terms of the acquisition represent a fair and reasonable
price for a minority stake in Marakand, particularly in light it appearing
increasingly unlikely that Marakand will have a role in the Khandiza project.
If Marakand does not have a role in the Khandiza project then it would become a
dormant company with no significant assets, other than the Khandiza feasibility
study and environmental and social impact assessment, and limited, if any,
prospects.


Remaining Shares

The 16,459,073 Remaining Shares will be acquired by Oxus pursuant to the
Acquisition Notice fully paid and free from all liens, charges, equitable
interests, encumbrances and any other third party rights of any nature
whatsoever and together with all rights attaching thereto including, without
limitation, the right to receive in full and retain all dividends and other
distributions (if any) declared, made or paid after the date of acquisition.


New Oxus ordinary shares

The new Oxus ordinary shares will be issued free from all liens, charges,
equitable interests and encumbrances and any other third party rights of any
nature whatsoever. The new Oxus ordinary shares will be issued credited as
fully paid and will rank pari passu in all respects with existing Oxus ordinary
shares, including the right to receive in full and retain all dividends and
other distributions (if any) declared, made or paid after the date of
acquisition.

The maximum possible number of new Oxus ordinary shares which could be issued in
relation to the acquisition is up to 2,221,795 new Oxus ordinary shares,
representing approximately 0.6 per cent. of the existing issued share capital of
Oxus. Application will be made for such shares to be admitted to trading on
AIM.


Information on the Oxus Group

Oxus is a UK-registered public company based in the UK, whose shares are traded
on AIM. Based on the closing price of Oxus ordinary shares on 18 October 2007
Oxus has a market capitalisation of approximately 191 million. The Oxus Group
was established in 1996 and gained admission to AIM in 2001. Its principal area
of activity is central Asia, primarily Uzbekistan where it is in a 50/50 joint
venture, Amantaytau Goldfields AO, ('AGF'), with the Uzbekistan Government to
develop several mining operations in the Tien Shan gold belt near Zarafshan.


Financial Information relating to Oxus and Marakand

The audited accounts of Marakand for the three years ended on 30 June 2006 and
also the unaudited preliminary results for the year ended 30 June 2007 are
available on Marakand's website (
www.marakand.co.uk

what is a 'Canaccord Adams Ltd - EPT Disclosure'?
there appear to have been several over the last week or so. Should i be concerned? i don't hold but was thinking of buying
Alex

Looks disastrous.

not that good ..... was always a dodgy play; too much legal wrangling etc

Looks good to me, what a time to buy