Eurasia Gold Corp. (EGX:TSX-V)

[NYBob]

Eurasia Gold Corp, Kazakhstan: Largest Gold Deposits and Mining
Companies: Charaltyn

Charaltyn. Kazakhstan gold miner plans Toronto IPO

Kazakh mining company Charaltyn plans to consolidate its
assets with Canada's Eurasia Gold Corp. ahead of a Toronto
IPO later this year, Reuters reports this morning.

Charaltyn President Baltabek Mukashev said the consolidation
would be carried out through a reverse takeover of Eurasia
Gold, followed by a new share issue, but did not specify its size.

Mukashev gave not further details of the flotation, but said
proceeds would be used to expand gold ore production in
Kazakhstan.

At the start of the year, Mukashev had said the company
planned to raise $30mn-$40mn on Western capital markets.

Charaltyn and Eurasia have a joint shareholder, TKA Corp.,
which in July 2004 acquired 57.7% of Eurasia, operator of gold
mining assets in eastern Kazakhstan.

Charaltyn has two gold mines in the same area and one silver
deposit, while its Andas-Altyn subsidiary is developing two
neighboring gold mines.

Charaltyn has estimated combined gold reserves of 85.5 tons
and increased gold production by 10% y-o-y in 2004 to 2.5 tons.

Eurasia Gold Corp. Website
http://www.eurasiagold.com

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