Eurasia Gold Corp. (EGX:TSX-V)

[NYBob]

"evaluated today into 9.300 tons of silver, or in the equivalent
of 200 tons of gold", said Mukashev"


20 May 2005 11:06 REUTERS

Zolotodobytchik Of charaltyn (Kazakhstan) is planned IPO in Canada

ALMA ATA, on 20 May (Reuter) - the important Kazakhstan
gold-prospecting firm Charaltyn <HPLT.KZ> plans in 2005 to combine its
active memberships with company Eurasia Gold Corporation and to place
its actions on the exchange in Toronto within the framework IPO,
reported on Friday the President AO of charaltyn.

Baltabek Of mukashev said that the consolidation of active memberships
will occur by release by company Eurasian Gold Corp of the additional
emission of the actions AO of charaltyn in Toronto.

It did not name the volumes of emission and other details of future
transaction, and also it restrained from the answer to a question,
under whose brand - Charaltyn or Eurasian Gold - will be achieved IPO
(primary arrangement of actions, initial public offering).

"volumes we do not thus far call. Now continues work on the
consolidation of active memberships and IPO. Transactions must be
completed in 2005 ", said Mukashev.

The means, which will be obtained from the arrangement of the
additional emission of actions, it is planned to direct toward the
expansion of the output of ore and production of gold in Kazakhstan.

In the beginning of the year Of mukashev it reported about the
intention of company to draw on the internal and external markets to
$30-40 million.

The basic and most important shareholder Of charaltyna Eurasian Gold
Corp is TKA Corporation. During July 2004 it acquired in CIDEM, the
hundred per-cent daughterly enterprise Thustle Mining Inc (Canada),
57,7 percent of actions Eurasian Gold Corp., which manages gold-ore
active memberships in East Kazakhstan.

Charaltyn is the fourth Kazakhstan company, which stated about the
plans of the arrangement of its actions on the western markets for
capital. Earlier about this they stated the most important producer of
copper in Kazakhstan TOO the corporation Of kazakhmys, the
gold-prospecting concern Of kazakhaltyn and a daughterly enterprise in
the national natural gas company Of kazmunaygaza - AO reconnaissance
and the output Of kazmunaygaz <RDGZ.KZ>.

Charaltyn, which develops two gold-ore layers in the Eastern-
Kazakhstan region (Mizek, Charskiy gold-ore belt) and layer of silver
in the North- Kazakhstan region (Novoukrainskoye), has affilirovanuyu
structure Andas- 3-copeck piece, that develops two gold-ore layers
(central Mukur, Miyaly) in the Eastern- Kazakhstan region, evaluate
its extracted reserves into 85,5 tons of gold.

The gold-prospecting company and its affilirovannaya structure
increased in 2004 the production of gold to 2,5 ton with 2,3 in the
previous year. The volume of sales in 2004 was 2,1 tons. Switzerland
is the basic importer of the production of company.

Company realizes a number of projects on an increase in gold mining.

"on 27 April was neglected in the operation the
experimental-industrial installation of dense leaching on the gold-ore
layer Of zhayma, entering together with other layers the group Of
charskogo gold-ore belt" - said Mukashev. In 2005 on Zhayme are
planned to obtain 250 kilograms of gold.

Soon company approaches the first stage of geological survey, which is
planned to complete already in summer this year and will require
investments on the order of $100.000. Toward the realization of the
second stage are planned to direct about $450.000.

"conducting geological survey will make it possible to refine the
forecast resources Of the novoutskrainskyyo layer, which are evaluated
today into 9.300 tons of silver, or in the equivalent of 200 tons of
gold", said Mukashev.

In the case of affirming the reserves of layer on the spot the
processing complex will be built.

Eurasia Gold Corp. Symbol EGX at Toronto Exchange
http://www.tse.com/HttpController?GetPage=QuotesViewPage&DetailedView=DetailedPrices&Languag...

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