Disposal

RNS Number:6012V
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."



Further enquiries:

Oxus Gold plc
Richard Wilkins                                    Tel: +44 (0)20 7907 2000
website: www.Oxusgold.co.uk

Bankside Consultants Ltd.
Keith Irons/Oliver Winters                         Tel: +44 (0)20 7367 8873


Canaccord Adams Limited                            
Mike Jones/Erin Needra                             Tel: +44 (0) 7050 6500






                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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