AGM Statement

RNS Number:2543B
Trans-Siberian Gold PLC
27 July 2004


news release



For immediate release:  27 July 2004


                           Trans-Siberian Gold plc

          Shareholders approve Anglogold Ashanti strategic investment


LONDON: 27 July 2004 - Trans-Siberian Gold plc ("TSG") (TSG.L) reports that
shareholders have approved the Subscription Agreement under which Anglogold
Ashanti Limited ("AGA"), the second largest gold producer in the world, will
subscribe for a 29.9% stake in TSG in two tranches.


Shareholders approved the Agreement at the Annual General Meeting in London
today.


AGA will be investing a total of #17.6 million to acquire the 29.9% stake in
TSG. The investment will be in two equal tranches of 6,131,585 new shares,
priced at 136.95p and 149.4p respectively. The first subscription will be
completed shortly and the second on the signing of the loan financing agreement
with Standard Bank London for the Asacha mine development in Kamchatka, far east
Russia and expected before the end of 2004.


Following completion of the first subscription, two AGA nominees will be
appointed to the board of TSG.  Additionally AGA will have anti-dilution rights
to maintain their 29.9% interest, and also a right of first refusal to provide
financing for the Veduga development.


A consulting agreement provides for AGA to provide technical and operating
support to TSG and AGA will also have a 51% earn-in right on new exploration
projects outside existing assets, licence applications and associated
surrounding ground. This agreement only covers new exploration ground which is
yet to be acquired by TSG.  All of the Company's current projects and the areas
immediately surrounding them, and any new licences for which TSG has already
applied, are excluded from this arrangement.


Mr Jocelyn Waller, managing director, said today: "I am pleased that
shareholders have approved this Agreement. It represents a big step forward for
TSG and removes any uncertainty in our ability to bring our two major Russian
mining projects into production.  The involvement of Anglogold as a significant
minority shareholder providing technical and financial support will allow TSG to
move with greater certainty and confidence towards its goal of being a
significant Russian gold producer."


All other resolutions were approved at the annual meeting.


Application has been made for 6,131,585 new shares to be admitted to the
Alternative Investment Market. Admission of the new shares is expected to become
effective on 30 July 2004.


                                      Ends



For further information, please contact:


Jocelyn Waller,

Managing Director

Trans-Siberian Gold plc                         01223 265 761/ 07778 164 376


Simon Olsen,

Finance Director                                01223 265 768/  07770 484 965

Trans-Siberian Gold plc


Keith Irons,                                    020 7444 4155/ 07885 356 639

Bankside Consultants


Michael O'Brien                                 020 7523 8423

Chris Howard                                    020 7523 8314

Collins Stewart


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

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