Issue of Equity and Termination of EFF

28 January 2015

Oxus Gold plc

Issue of Equity and Termination of Equity Funding Agreement

Oxus Gold plc ("Oxus" or the "Company") is pleased to announce that it has raised approximately £130,000 (net of fees and costs) following a subscription for new ordinary shares in the Company by Darwin Strategic Limited ("Darwin"). The subscription for new ordinary shares was made by Darwin on 27 January 2015 pursuant to the terms of the Equity Financing Facility Agreement (as announced on 13 March 2013 and extended on 28 August 2014) and at a gross price per share of 2.39p.

Following the subscription for new ordinary shares by Darwin as set out above, the Company has issued and allotted, conditional on admission to trading on AIM, 5,865,915 new ordinary shares of 1p each to Darwin.

The new ordinary shares will rank pari passu in all respects with the existing ordinary shares of 1p each in Oxus.

Application has been made to the London Stock Exchange for 5,865,915 shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that trading in the new Oxus shares will commence on or around 2 February 2015.

Following Admission, the Company's enlarged issued share capital will comprise 547,647,564 ordinary shares with voting rights.

The Board of Oxus Gold also announces that both Oxus and Darwin have agreed to terminate the Equity Funding Agreement.

Richard Shead, Chairman of Oxus Gold commented: "We would like to thank Darwin Strategic Limited for their support during this difficult period in the Company's history and we look forward to working with them again in the future".

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