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Oxus Gold plc (‘Oxus’) is a producing gold mining company with primary operations inside the Republic of Uzbekistan.

Founded in 1996, Oxus listed on London’s Alternative Investment Market (AIM) in 2001 and is currently producing significant quantities of both gold and silver from its 50% stake in the Amantaytau Goldfields JV (AGF) which is located in the Kyzylkum region of Uzbekistan,  To date AGF has produced approximately 500,000 ounces of gold and silver (expressed as gold equivalent ounces) from its two operations and a third mine, the Asaukak Heap Leach, is due to be built by the end of 2008 which will process one million tonnes per annum of ore.

Total AGF ‘Proven and Probable’ reserves were 2,839,000 ozs of gold and 6,739,000 ozs of silver (of which half are attributable to Oxus), under JORC classification.

AGF is situated on one of the world’s largest areas of gold endowment,  the Tien Shan belt, second only in size to that of the Witwatersrand basin.  AGF also enjoys the benefit of being positioned just 40 kms south of the world’s largest single open pit gold mine at Muruntau.

The Company’s focus is on the Amantaytau (AGF) licence area and in particular the deep underground sulphides project, new satellite heap leach pads to process remaining oxide ores and the realisation of the upside potential throughout the mining lease. Oxus will address other opportunities in Uzbekistan and elsewhere as they arise.  

AMANTAYTAU GOLDFIELDS (AGF)

The mineral deposits of the Amantaytau area are located in the desert-like Kyzylkum Region of the Navoi Oblast. The principal town of the region is Navoi which is the largest mining town in Uzbekistan, lying some 160km to the southeast of Amantaytau.  The area is connected to all major centres by paved road and railway.  The deposits are situated approximately 30km south of the town of Zarafshan, and to the southwest of the gold mining complex at Muruntau. Production to date has been from the Centralny, Vysokovoltnoye and Asaukak deposits. Generally, the climate of Uzbekistan is continental and arid, with hot summers and cool winters producing a wide range in diurnal temperatures and mining is achievable year round. The topography is typically flat terrain, with gentle hills and sparse vegetation, typical of semi desert steppe. 

OPERATIONS

From inception the strategic plan has been to mine out the low grade oxide ore first and then move on to the highly profitable underground high grade sulphidic ore at Centralny and Severny. The existing Centralny open pit oxide reserves are now exhausted and Asaukak oxides are close to being mined out. Production is still scheduled from the Vysokovoltnoye silver-gold heap leach deposit. It is also planned to construct new heap leach pads to produce gold from the numerous satellite oxide deposits on the mining lease. It is also planned to deepen existing Centralny pit to extract sulphide ore until the underground` ore becomes available in 2010.

RICHARD WILKINS MA, FCA - Company Secretary

A Chartered Accountant by profession, has been conducting business in Central Asia since 1991, initially with Tajik Development Agency Ltd and Zaravshan Gold Company in Tajikistan. Was one of the founding directors of the Oxus Group in February 1996. Also a director of the British Uzbek Society and a deputy chairman of the Uzbek British Trade and Industry.     Joined the board in April 2001.

RICHARD SHEAD B.A CIS - Executive Chairman   

Richard has had many years experience in the mining industry in South Africa. He was CEO of East Daggafontein Mines Limited until 2002 and played an instrumental role in the merging of that company with Mvelaphanda Resources Limited in 2002. He previously served with Oxus as Director of corporate Development until October 2004, and was a director and CEO of Shanta Gold Limited until March 2008. 

Joined the board June 2008

OLIVER PRIOR - Consultant, Non-executive director

Oliver has over 40 years experience in insurance brokerage. Oliver has served in several directorial roles for a number of Lloyd's insurance broking companies prior to joining Willis Faber & Dumas Ltd ("Willis") and was appointed as Director of Research & Development until Oliver retired in 2004. Oliver is currently a senior consultant with The FirstCity Partnership Limited.

Joined the board: October 2004. 

Chairman of the Remuneration committee and member of the Audit/Nominations and Independent committee

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