TORONTO, June 1 /CNW/ - Eurasia Gold Inc. ("Eurasia") (TSX: EGX - News) announces that Kazakhmys Gold Inc. (the "Offeror") and Kazakhmys PLC ("Kazakhmys") have rejected the request by the Board of Directors of Eurasia (the "Board") that the unsolicited all-cash offer of $0.85 per Eurasia Ordinary Share from the Offeror for all outstanding Ordinary Shares of Eurasia effective on May 15, 2007 (the "Offer") be increased to better reflect the Board's opinion of the value of the Eurasia Ordinary Shares. After receiving the opinion of the Special Committee on May 28, 2007, the Board authorized the Special Committee and its Advisors to continue the meetings and discussions with Kazakhmys and its advisors referred to in the Directors' Circular mailed to Eurasia shareholders on May 30, 2007. These have now terminated. The Special Committee has been advised that, after careful consideration, the Offeror is not prepared to increase the Offer price. Accordingly, the recommendation of the Special Committee and of the Board of Directors, as described in the Directors' Circular, that shareholders reject the Offer remains unchanged.
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