Issue of Equity & Holding in Company

Oxus Gold plc

Issue of Equity & Holding in Company

16 November 2010

Oxus Gold Plc ("Oxus" or the "Company") announces that it issued a total of 16,495,473 ordinary shares of 1p each in the Company on 15 November 2010.

15,625,000 ordinary shares have been issued to LR Global Partners pursuant to the conversion of all of its outstanding Convertible Loan Notes ("CLNs") in the Company at a price of 12p per share. The terms of such CLNs were revised in January 2010 and the revised terms were announced by the Company on 28 January 2010.

In addition, 870,473 ordinary shares have been issued to LR Global Partners in lieu of the accrued interest attributable to the converted CLNs for the period 6 January 2010 to 14 November 2010. These shares were issued at a price of 7.1p per share, being the average closing mid-market share price for the Company for the period 6 January 2010 to 14 November 2010.

Application has been made for a total of 16,495,473 new ordinary shares of 1p each in the Company to be admitted to trading on the AIM Market of the London Stock Exchange. The new shares will rank pari passu with existing ordinary shares and dealings are expected to commence in the new ordinary shares on 19 November 2010.

Following the issue of the above new ordinary shares, the Company's issued share capital now consists of 414,420,456 ordinary shares of 1p each. Furthermore, LR Global Partners is now interested in a total of 16,495,473 ordinary shares in the Company which represents approximately 3.98% of the issued share capital of the Company.

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