Half Yearly Report

Eurasia Mining plc

Interim Results

for the six months ended

30 June 2015

Chairman's Statement

Dear Shareholder,

The last six months have proved to be the most important in the development of the Company.

For mineral exploration companies, the focus is on the discovery of mineral deposits, undertaking work to highlight commercial economics and then progressing assets through the relevant approvals process leading to mine construction and the generation of revenues and profitability. At Eurasia, we have two projects that illustrate how projects at different stages can add value to shareholders in mineral companies.

At West Kytlim, we are moving from exploration to mining and are planning to produce Platinum in 2016. However management and the board are also excited by the discoveries identified at our Monchetundra project in Kola, northwest Russia. This excitement is based on the results of patient exploration work, which is being added to further at this time, as announced in August 2015.

Our work at both projects has not gone unnoticed and as also announced previously, interest has been shown by third parties in the Monchetundra Project. We are working with all interested parties and any updates will be notified in due course.

We would like now to outline specific project developments.

Monchetundra

The Company restarted exploration and development studies on the West Nittis area within the Monchetundra licence in August 2015. This area had seen the discovery by Eurasia of near-surface high-grade platinum and palladium as a result of 2010 drilling campaign confirmed by further drilling in 2013, recently described as world-class discoveries by the Chief Geology Officer of Norilsk Nickel.

The results confirmed the discovery of "Hanging Wall" Copper-Platinum Group Metal, (copper-PGM) type ore. This style of mineralization resembles similar ores previously mined in the region, albeit with high-grade base metals rather than PGMs. A second discovery of stratiform "Footwall" PGM mineralization in the same target area has the potential, combined with the Hanging Wall target, to become a significant economic resource. The current work underway is aiming to confirm this model.

In line with the approach undertaken at its other project at West Kytlim in the Urals, the Company intends to submit a feasibility study to the government agency Rosnedra in order to seek the award of a Discovery Certificate. It is expected that the submission will happen late 2015 or early 2016, and further announcements will be made if this progresses.

West Kytlim

In June this year, the Ministry of Natural Resources ("MNR") approved the Company's application for a Mining Licence at West Kytlim and shortly afterwards in early July the Prime Minister Dmitry Medvedev confirmed the award of a Mining Licence of 21.5 square kilometres at West Kytlim in the Urals.

The licence is granted to Eurasia's local subsidiary on the basis of first discovery and includes the rights for extraction of platinum and gold. RosNedra, the licencing agency, has informed the Company on the issue of the formal licence, the one-off lump-sum payment due to the government, to be paid within 30 days of registration of the licence, is 2,126,000 roubles or approximately £24,000.

This approval and receipt of the licence enables Eurasia to shift from exploration into design, development and platinum production. We believe such platinum production will generate the revenues and margin that will allow the Company to move toward self-financing status and deliver the value we have been promising for some time to shareholders.

The next stage is to complete our detailed development plan for West Kytlim, a summary of which is to be submitted to the ministry for subsoil use once the formal licence documentation is issued. Work is well advanced on this plan, which includes details of the layout for first production and the optimal scheduling of the development of the reserves.

This conservative approach, which minimizes capital exposure, would see development of the project phased over 3 years building to full production.

Alternatively, if sufficient capital could be provided without shareholder dilution, there is an economic case to be made for an accelerated development after a year of expansion of reserves by conversion of further resources.

At present, work is advancing to allow both scenarios to be considered into early 2016 and in either case, first Platinum production is targeted for Summer 2016.

In conclusion, your board is confident that we are starting to see the fruits of the Company's hard work, maintained through a period of great difficulties for the mining industry. We have survived and made progress through this period of hardship and believe we are now positioned to strengthen the Company and move towards becoming a platinum producer. On behalf of the board and management I thank you for your support and look forward to returning value in the near future.

Michael Martineau

Chairman

Enquiries:

Eurasia Mining Plc

Christian Schaffalitzky/Michael de Villiers

+44 (0)207 932 0418

WH Ireland Limited

Katy Mitchell/Liam Gribben

+44 (0)161 832 2174

Beaufort Securities

Elliot Hance

+44 (0)207 382 8300

Loeb Aron

John Beresford-Peirse

+44 (0)207 628 1128

Condensed consolidated statement of comprehensive income

for the six months ended 30 June 2014

Condensed consolidated statement of financial position

as at 30 June 2014

Condensed statement of changes in equity

for the six months ended 30 June 2014

Condensed statement of changes in equity

for the six months ended 30 June 2015

Condensed consolidated statement of cash flows

for the six months ended 30 June 2014

Selected notes to the condensed consolidated financial statements

for the six months ended 30 June 2015

1. General information

Eurasia Mining plc (the "Company") is a public limited company incorporated and domiciled in Great Britain with its registered office and principal place of business at 2nd Floor, 85-87 Borough High Street, London SE1 1NH. The Company's shares are listed on the Alternative Investment Market of the London Stock Exchange. The principal activities of the Company and its subsidiaries (the "Group") are related to the exploration for and development of platinum group metals, gold and other minerals in Russia.

The financial information set out in these condensed interim consolidated financial statements (the "Interim Financial Statements") do not constitute statutory accounts as defined in Section 435 of the Companies Act 2006. The Group's statutory financial statements for the year ended 31 December 2014, prepared under International Financial Reporting Standards (the "IFRS"), have been filed with the Registrar of Companies. The auditor's report on those financial statements was unqualified. The report did not contain a statement under Section 498(2) of the Companies Act 2006.

2. Basis of preparation

The Group prepares consolidated financial statements in accordance with International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) ,as endorsed by the European Union (EU). These condensed consolidated interim financial statements for the period ended 30 June 2015 have been prepared by applying the recognition and measurement provisions of IFRS and the accounting policies adopted in the audited accounts for the year ended 31 December 2014.

These Interim Financial Statements have been prepared under the historical cost convention.

The accounting policies have been applied consistently throughout the Group for the purposes of preparation of these condensed consolidated interim financial statements

The Interim Financial Statements are presented in Pounds Sterling (£), which is also the functional currency of the parent company. 

3. Accounting policies

The Interim Financial Statements have been prepared in accordance with the accounting policies adopted in the Group's last annual financial statements for the year ended 31 December 2014.

4. Property, plant and equipment

6. Other financial assets

Advances to acquire interest in uranium project represent payment of $602,000 made in 2011 towards acquisition of 55% interest in the Kamushanovsky uranium project in Kyrgyzstan.

7. Share capital

Fully paid ordinary shares carry one vote per share and carry the right to dividends.

Deferred shares have the following rights and restrictions attached to them:

- they do not entitle the holders to receive any dividends and distributions;

- they do not entitle the holders to receive notice or to attend or vote at General Meetings of the Company;

- on return of capital on a winding up the holders of the deferred shares are only entitled to receive the amount paid up on such shares after the holders of the ordinary shares have received the sum of 0.1p for each ordinary share held by them and do not have any other right to participate in the assets of the Company.

The increase in the Company's issued share capital during the reporting period occurred as follows:

7. Reserves

The capital redemption reserve was created as a result of a share capital restructuring in earlier years. There is no policy of regular transactions affecting the capital redemption reserve.

The foreign currency translation reserve represents exchange differences relating to the translation from the functional currencies of the Group's foreign subsidiaries into GBP.

The share-based payments reserve represents a reserve arising on the grant of share options to employees under the employee share option plan.