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					    “A WORLD CLASS RESOURCE IN THE
        HEART OF CENTRAL ASIA”
               JULY 2008

*
           This presentation is strictly confidential, may not be distributed to the press or any other person, and may not be
           reproduced in any form, in whole or in part. Failure to comply with this restriction may constitute a violation of
           applicable securities laws.

           This presentation contains both historical facts and statements relating to Oxus Gold plc’s (“Oxus”) current plans,
           estimates, objectives and strategies which are forward-looking statements. Such forward-looking statements
           involve known and unknown risks, uncertainties and other important factors beyond Oxus' control that could cause
           the actual results, performance or achievements of the Company to be materially different from future results,
           performance or achievements expressed or implied by such forward-looking statements. Accordingly, any reliance
           you place on such forward-looking statements will be at your sole risk.

           The information contained in this document is being supplied only to persons who fall within Article 11(3) of the
           Financial Services Act 1986 (Investment Advertisements) (Exemptions) Order 1996 (as amended). The information
           contained in this presentation has not been independently or legally verified and is subject to change without notice.
           No representation or warranty, express or implied, is given to the accuracy, completeness or fairness of the
           information or opinions contained in this document and no liability is accepted by Oxus or any of its directors,
           members, officers, employees, agents or advisers for any such information or opinions.

           This information is being supplied to you, in whole or in part, for information purposes only and not for any other
           purpose. In particular, this presentation is not intended for publication outside of the United Kingdom and the
           distribution of this document in jurisdictions other than the United Kingdom may be restricted by law and persons
           into whose possession this document comes should inform themselves about, and observe any such restrictions.
           Any failure to comply with these restrictions may constitute a violation of laws of any such other jurisdiction.

           This document and the information contained in it do not constitute a prospectus and do not form any part of an offer
           of, or invitation to apply for, securities. Neither this presentation, nor any part of it, nor the fact of its use, should
           form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever.

International Investment Forum
29 May 2007
Tashkent, Uzbekistan
 1
  Producing precious metals company
      Produced over 500,000 oz of gold since January 2004 and 1.2 Moz of silver
       since June 2007
  Focused on Uzbekistan through Amantaytau Goldfields JV (AGF)
  AGF– 50% JV with Uzbek State, with Oxus as Manager:
      2.44 Moz of gold reserves; 6.7 Moz of silver reserves (JORC)
      Within 7.2 Moz of gold resources and 54.1 Moz of silver resources (JORC)
      Significant exploration potential
      Increasing production from 75,000 oz pa currently to over 300,000 oz pa from
       mid 2010
      New underground sulphide mine in addition to existing oxide production
      All figures 50% attributable to Oxus
  Admitted to London Stock Exchange AIM: 2001 (OXS.L)

International Investment Forum
29 May 2007
Tashkent, Uzbekistan
 2
                 Jonathan Kipps                              Richard Wilkins                     John Donald
              Chief Financial Officer /                     Chief Executive Officer           Chief Operating Officer
                     Secretary




 Oliver Prior                    Douglas Sutherland              Gordon Wylie         Miradil S. Djalalov    Richard Shead
(Non-Executive)                  (Non-Executive/Chairman)        (Non-Executive)         (Non-Executive)      (Non-Executive)


International Investment Forum
29 May 2007
Tashkent, Uzbekistan
 3
  Approval to proceed with Sulphides Underground Mining Project received from
   Cabinet of Ministers in December 2007
       To be developed by 50% owned Amantaytau Goldfields
       $167 million project – Royal Bank of Scotland mandated to arrange project
        finance
       Bankable feasibility study completed June 2008
       First gold production scheduled for Q3 2009
  Strategic alliance with Zeromax, Uzbekistan’s largest private sector employer
       Zeromax currently owns 18% of Oxus and is represented on both the AGF
        Directorate and Supervisory Board, as well as Oxus Board
  Kyrgyz, Romanian & Turkish assets sold to KazakhGold in June 2007
       Oxus received 3.5m KazakhGold shares valued @ $73m
       Distributed $66m in KazakhGold shares as dividend in July 2007
       Additional payment of up to $80m in cash if KazakhGold obtains license to
        develop Jerooy gold deposit in Kyrgyzstan

International Investment Forum
29 May 2007
         Note: All
Tashkent, Uzbekistanreferences
 4                               to $ are US$
                                     381m 1p shares in issue (429m fully diluted)
                                                 Capital Group
                                                         9%                         RAB Capital
                                    Alfa Group                                 Special Situations Fund
                 L-R Global              7%                                             27%
                    8%

Directors and
Management
    2%




                                                                                            Free Float
                                                                                                29%
          Zeromax
      Strategic Partner
            18%

        Strategic alliance with Zeromax plus strong institutional support
   International Investment Forum
   29 May 2007
   Tashkent, Uzbekistan
    5
      Oxus Market Statistics @ 4th July
                   2008
  Market Capitalization                                                                    $133 Million
  Current share price:                                                                    17.5p / share
  52 Week Share Price Low/High:                                                          14.0p – 60.5p
  2007 Dividend Paid                                                             Equivalent of 9p/share
  Shareholder loans due from AGF (earning LIBOR +3%):                                            $33m
  Corporate loan due to Nedbank:                                                                $7.5m
  Cash Position                                                                                  $17m
  Convertible Loan Notes Placed in May 2008 (37p / 8% coupon)                                  $18.5m
  Hedge Position:                                                                                None
  IFRS compliant:                                                              2006 and 2007 accounts



International Investment Forum
29 May 2007
 6        Note: Statistics
Tashkent, Uzbekistan             according to June 2007 Financial Statements
  World class mineral assets
  Uzbekistan ranked as fourth largest gold resources in the world (estimated 170
   Moz)
  Ninth largest gold producer – 80 t per year (2.6 Moz pa)
       60 t from Muruntau mine; only 25 kms from AGF
  Politically stable
  Skilled, educated workforce
  Established infrastructure – Central Asia’s transport hub, with energy self-
   sufficiency and good IT infrastructure
  Recognized foreign investment climate:
       Nestlé, BAT, Case Corp., ABN Amro Bank (RBS), AIG, Coca Cola
       General Motors entry in October 2007 (former UzDaewoo car plant)
  Strategic alliance with Zeromax
       Additional projects expected


 Established mining & investment environment
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
 7
  Second largest gold province in the world after the Witwatersrand Basin
  Massive potential
  Underexploited
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
 8
  192 km² license area in Central Kyzylkum on Tien Shan
  Access to established mining infrastructure
       Road / rail / power / water / airport
  Experienced human resource base
  25 km from one of world’s largest open pit gold mines - Muruntau
       Muruntau has produced over 50 Moz (1,600 t) of gold to date
       1.8 Moz (60 t) of gold produced annually
       Expected to be in production for at least another 25 years
       Owned by NMMC = 8th largest gold producer in the world
  Central Kyzylkum holds estimated 3,200 t in potential mineralization
  Access to 2 London bullion market accredited gold and silver refineries


Located in a world class mining environment
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
 9
      Investing since 1996
      Oxus owns 50% of AGF (50% owned by Uzbek State)
      Total investment to date is approximately $100m
      Presently employing over 650 local workers with an additional 800 to be
       employed for the sulphides / additional heap leach projects
      Gold and silver doré refined in Uzbekistan (LBMA accredited)
      Produced and exported over 500,000 oz gold equivalent bullion
      $35m original project finance repaid
      $5m (Uzbek Soum 5bn) local corporate bond repaid
      Strong supporter of the local economy


         A Proven Track Record in Uzbekistan
 International Investment Forum
 29 May 2007
 Tashkent, Uzbekistan
10
    AGF ORE RESERVES, MINERAL RESOURCES AND
    EXPLORATION RESULTS


    Ore Reserves                                               2.44Moz Au
                                                              + 6.74Moz Ag

    Mineral Resources                                         contained within

    Measured + Indicated Resource                      4.83Moz Au + 38.04Moz Ag                               JORC
                                                                   plus

    Inferred Resource                                  2.41Moz Au + 16.04Moz Ag
                                                                                                                          INCREASING
                                                                                                                          CONFIDENCE
    Exploration Results                                7.61Moz Au + 72.79Moz Ag


    Soviet Resource Potential
    Soviet P1 Resource                                5.84Moz Au + 314.61Moz Ag
                                                                                                            NOT JORC
    Soviet P2 Resource                                3.75Moz Au + 45.11Moz Ag


                                 NB : - 50% of the above Ore Reserves and Mineral Resources attributable to Oxus
                                      - oxide resources and reserves at July 2007; sulphides updated during BFS completed June 2008

   Sulphide reserves of 2.01 Moz Au; balance in oxides
   58 explored gold deposits and occurrences within 192 km² license area
   Only 3 deposits exploited to date

       Potential Total: 24 Moz Au; 487 Moz Ag
International Investment Forum
29 May 2007
Tashkent, Uzbekistan
11
  OXIDES:
      Further 1.2 mtpa from CIP plant until Q2 2009 – 60,000 oz gold in total
      Ongoing 1mtpa Vysokovoltnoye gold / silver heap leach – 40,000 oz pa¹
      Additional heap leach (Asaukak, etc.) – 1 mtpa, 30,000 oz pa, end 2008
       onwards
      Approx 70,000 oz per year for foreseeable future
      At least 1Moz expected to be mined over 15+ years including resources and
       blue sky
  SULPHIDES:
      CIP plant modification – to treat sulphide ores through flotation and biological
       oxidation and cyanide leaching of concentrates (operating Q3 2009 onwards)
      200,000 oz in 2010, 230,000 oz pa thereafter
      At least 5 Moz expected to be mined over 20+ years including resources and
       blue sky
  ONGOING EXPLORATION:
      $3m budgeted annually from 2008


  Target: 300,000oz + producer from mid 2010
 International Investment Forum
 29 May 2007
12 (1)Uzbekistan
 Tashkent,       Includes Vysokovoltnoye   silver heap leach production as gold equivalent ounces (approx 58:1)
     Note: 50% attributable to Oxus
Open Pit Excavator                CIP Plant




Centralny Open Pit                CIP Conveyor Belt




 International Investment Forum
 29 May 2007
 Tashkent, Uzbekistan
13
      13
CIP conversion to sulphide plant




         Oxus earns a management fee equivalent to 5% of operating costs;
         Uzbek state geology committee earns 2% fee

 International Investment Forum
 29 May 2007
 Tashkent, Uzbekistan
14
     AGF Sulphides: Bankable Feasibility Study
(7 year mine life: Severny + part Centralny reserves)
            Mining Strategy:        Underground mine (decline access, trackless
                                    mining, cut and fill mining method), ongoing
                                             exploration
            Projected Tonnage:      750,000 tpa commencing Q3 2009, increasing to
                                    1.2 mtpa from mid 2010, @ 7.75 g/t
            Process Technology:     Biological Oxidation (BIOX)
            Recovery:               88%
            Output:                 33,000 oz in 2009; 202,000 oz in 2010; 230,000 oz
                                    pa thereafter
            Pre-production Capex:   $167 million
            Project finance:        RBS mandated
            Cash costs :            $403/oz (including taxes and management fee)

      Feasibility study initially completed by Wardell Armstrong (WAI) in Sept. 2005
      Bankable Feasibility Study completed June 2008 by WAI
      20+ year mine life assuming ongoing mining of resources / blue sky

  International Investment Forum
  29 May 2007
  Tashkent, Uzbekistan
 15
              NPV                $331m at 7% discount rate per
                                 annum
              IRR                51%
              PAYBACK            24 months from start of
                                 production
              COSTS              $403 per oz (including taxes and
                                 management fee)

         • Potential to improve economics
             more cost effective mining methods
             additional reserves
         • Mine life will extend beyond initial 7 years
International Investment Forum
29 May 2007
16
Tashkent, Uzbekistan
     INHERITED FROM SOVIET ERA
             Shaft sunk to 360m depth; 5m diameter
             27 km of underground exploration tunnels on five different levels


     AGF UPKEEP AND MAINTENANCE
                 Winder and shaft steelwork refurbished and in daily operation
                 Shaft to be used as part of ventilation and escape system
                 Recently re-opened, equipped and ventilated 723m of tunnels
                 Existing tunnels to be used for extensive drilling programme with
                  new Atlas Copco drill


 International Investment Forum
 29 May 2007
 Tashkent, Uzbekistan
17
                                  Sea Level




 International Investment Forum
 29 May 2007
 Tashkent, Uzbekistan
18
                                                  At 500 Metres below existing workings
                                                  Soviet Exploration Data
                                                  Huge down dip gold potential

                                              20m @ 13.5 g/t Au
                                  Sea Level
                                              15m @ 14.23 g/t Au


                                                   Base of Existing Resources


                                              Drillhole 1767a
                                              From 871m to 879m
                                              Length Gold
                                              3m        23.1 g/t
                                              2m        72.0 g/t
 International Investment Forum               3m        66.5 g/t
 29 May 2007
 Tashkent, Uzbekistan
19                                            8m        51.6 g/t = Total
Vysokovoltnoye Heap Leach            First Gold Pour




Headgear for underground sulphides      Heap Leach Pad




 International Investment Forum
 29 May 2007
 Tashkent, Uzbekistan
20
                                 400,000
Production, oz gold equivalent




                                 350,000


                                 300,000


                                 250,000


                                 200,000


                                 150,000


                                 100,000


                                  50,000


                                      -
                                           2008   2009        2010      2011        2012          2013      2014      2015    2016   2017
                                                         CIP-Oxides   Vyso     Satellite Oxides     Sulphides - underground


                • Forecast includes gold and silver as gold equivalent from 2008-2013
                • Includes mining of oxide resources
                • Sulphides enter full production in 2010
 International Investment Forum
 29 May 2007
                • Oxus attributable ounces at 50%
 Tashkent, Uzbekistan
21
               AGF expects to employ 1,450 local workers by 2010
               Investment of more than $190m over the next three years
               Expected 20+ year mine life from the total resource base
               Estimated $1bn in tax revenues for Uzbekistan
               Approx 17% of gross revenue
               Includes 10% profits tax
               Includes >$200m in social development taxes
               Operating in accordance with World Bank environmental
                standards



 International Investment Forum
 29 May 2007
 Tashkent, Uzbekistan
22
                                 $250
   Market Capitalization (US$)




                                 $200


                                 $150


                                 $100


                                 $50


                                  $0
                                        Eldorado (Turkey,    Centerra     Highland (Russian       Celtic          Resolute         Kazakhgold    Oxus (Uzbekistan)
                                             China)         (Kyrgystan)      Federation)      (Kazakhstan)*   (Australia. South   (Kazakhstan)
                                                                                                                   Africa)


                    Oxus has significant value to be unlocked, through a near term projected
                     production rate of 150,000 attributable ounces per annum
                    Severstal bid Celtic at approximately $282 per attributable resource ounce

 International Investment Forum
 29 May 2007
 Tashkent, Uzbekistan
23             Source: Canaccord Adams, London June 5 2008
          Undervalued compared to peer group

          Strong fundamentals from existing projects
            40,000 oz pa attributable producer currently
            150,000 + oz pa attributable producer within 3 years¹
            Reducing operating costs per oz
            Significant upside potential for new reserves
            Key operating personnel already in place

          Zeromax strategic alliance
            Further growth potential via new projects

          Looking to become world class precious metals producer and
           Uzbekistan’s flagship mining company on international capital markets



 International Investment Forum
 29 May 2007
24 (1) Subject to financing
 Tashkent, Uzbekistan             of pre-production Capex
 International Investment Forum
 29 May 2007
 Tashkent, Uzbekistan
26
                                          Oxus Gold plc

                                          Oxus Holdings (Malta) Ltd
                                                                      100%
                                                  (Malta)


                                            Oxus Resources Corp
                                                                      100%
                                                   (BVI)


                                            Amantaytau Goldfields
                                              (Uzbekistan JV)         50%




                             Streamlined Uzbekistan-focused business model
 International Investment Forum
 29 May 2007
 Tashkent, Uzbekistan
27
             Nominated Adviser & Broker:
               Canaccord Adams, London
             Auditors:
               Deloitte & Touche LLP
             Registrars:
               Capita Registrars, London
             Solicitors:
               English Law: Norton Rose, London
               Uzbek Law: Denton Wilde Sapte, Tashkent
             Bankers:
                   Nedbank (Corporate loan facility)
                   HSBC
                   Barclays, London (AGF Gold Sales Depository)
                   ABN Amro, Tashkent
                   Ipoteka Bank, Tashkent / Zarafshan

 International Investment Forum
 29 May 2007
 Tashkent, Uzbekistan
28
                                                                                                               1



                                                             Six months                                         Year
                                                               ended 31                   Year ended          ended
                                                          December 2007                      June 07         June 06

Revenue                                                                     1,065                   2,387      3,383

Share of Profit from JV                                                   (1,970)                 (3,213)     10,169

(Loss)/Profit after tax                                                 (43,013)                (18,966)       2,398

Total Assets                                                              78,378                186,291      176,373



        Source: Oxus Gold Plc annual reports,
 International Investment Forum                 more financial information available at www.oxusgold.co.uk
 29 May 2007 In accordance with IFRS
        (1)
 Tashkent, Uzbekistan
29
                                                            Year to Year to                  Year to   Year to
                                                            12/2007 12/2006                  12/2005   12/2004
       Ore Processed (Tonnes)                               845,177 1,225,400              1,567,529 1,062,101
       Average Grade (g/t)                                       2.7      3.0                    4.5       5.8
       Recovery %                                                 67     73.4                   77.1      82.6
       Gold Produced (oz)                                    48,379    98,053                161,615   148,511
       Cash Cost ($/oz) ¹                                       656       392                    202       160
       Total Cost ($/oz) ¹                                      759       445                    230       182
       Net Profits ($ Millions)                              (11.05)     8.85                  13.26     16.13

      First 3 ½ years production from oxide ores, processed through CIP plant
      Oxide grades and recoveries have declined, as expected
      Vysokovoltnoye heap leach project sold first gold and silver in July 2007
      Vysokovoltnoye earned $ 3m profit in H2 2007
      Longer term oxide production from heap leach, not CIP


 International Investment Forum
 29 May 2007
 Tashkent, Uzbekistan
30       (1)     Calculated in accordance with Gold Institute’s production cost standard
             AGF deposits discovered in 1976
             Located in Zarafshan-Turkestan formation of Southern Tien Shan
              (as per Muruntau)
             Lower Palaeozoic Besapan siltstones and sandstones host
             Ore bodies formed during Caledonian, Hercynian and Alpine
              deformation
             Sulphide deposits formed in steeply dipping fractures and breccia
              zones up to 20m in width
             Primary sulphide mineralization oxidised within 50m of surface




 International Investment Forum
 29 May 2007
 Tashkent, Uzbekistan
31
OXUS GOLD PLC PRECIOUS METAL ORE RESERVES AS OF JULY 2007 (SULPHIDES RESERVES UPDATED JUNE 2008)

                                                                                        Proven Reserves                                 Probable Reserves                     Proven + Probable
Deposits                                                              Cut off    Mt       Grade g/t    Contained Kozs           Mt      Grade g/t   Contained Kozs   Mt      Grade g/t    Contained Kozs
                                                                      g/t Au             Gold Silver Gold       Silver                 Gold Silver Gold     Silver          Gold Silver Gold      Silver
AMANTAYTAU GOLDFIELDS
CIP Oxides (as of July 2007)
Asaukak (15% Dilution, 95% Ore Recovery)                                1.0                                                     1.29    2.1    1.6     88       66   1.29    2.1     1.6     88       66
Stockpiled ore at Asaukak                                               0.5      0.37      0.9                 11                                                    0.37    0.9             11
Stockpiled Asaukak ore at CIP plant                                     1.0      0.06      1.2                  3                                                    0.06    1.2              3
Uzunbulak (15% Dilution, 95% Ore Recovery)                              0.8      0.09      1.9      3.8         5         11    0.91    1.7    2.5     51       72   1.00    1.7     2.5     56       83
Sarybatyr (15% Dilution, 95% Ore Recovery)                              0.6      0.77      2.2                 54               0.93    1.6            47            1.70    1.6            101      -
Sub-Total CIP Oxides                                                             1.30      1.8                 73         11    3.12    1.8           185      138   4.42    1.8            258      149
Heap Leach Oxides (as of July 2007)
Vysokovoltnoye OB4 (8% Dilution, 95% Ore Recovery)                      0.6      0.66      1.3 28.0            28       591     1.77    1.2   26.2     69    1,493   2.43    1.2    26.2     97    2,083
Vysokovoltnoye OB7 (8% Dilution, 95% Ore Recovery)                       -       0.26      1.2 116.0           10       970     2.20    0.9   50.0     65    3,537   2.46    0.9    53.0     75    4,506
Sub-Total Heap Leach Oxides                                                      0.92      1.3 52.9            38     1,560     3.97    1.1   39.4    134    5,029   4.89    1.1    41.9    172    6,590
Total Oxides                                                                     2.21      1.6                111     1,571     7.10    1.4           320    5,168   9.31    1.4            430    6,739
Sulphides (updated June 2008)
Amantaytau Centralny (23.4% Dilution, 91.3% Ore Recovery)               2.0                                                     2.21    4.7            332           2.21    4.7             332
Amantaytau Severny (28.3% Dilution, 99.0% Ore Recovery)                 3.5      0.85      7.6                207               5.88    7.8          1,470           6.73    7.8           1,676
Total Sulphides                                                                  0.85      7.6                207               8.10    6.9          1,802           8.94    7.0           2,008
TOTAL AGF RESERVES                                                                                            317     1,571                          2,121   5,168                         2,439   6,739
OXUS ATTRIBUTABLE AGF RESERVES (50%)                                                                          159         786                        1,061   2,584                         1,219   3,369
Note : Reserves as per 1st June 2007, apart from Amantaytau Severny and Centralny Sulphides updated June 2008 as part of BFS
Note:The above sulphide reserves include 1.78Mt of "ore" at an average grade of 4.73 g/t containing 271,000 ounces gold which are “qualified “
     pending the completion of metallurgical testing of transitional "ore" at Centralny




 International Investment Forum
 29 May 2007
 Tashkent, Uzbekistan
OXUS GOLD PLC PRECIOUS METAL MINERAL RESOURCES AS OF JULY 2007 (SULPHIDES RESOURCES UPDATED JUNE 2008)

        JORC Classified                                          Measured Resources                                         Indicated Resources                                        Inferred Resources                Expl Results
   Deposits                            Cut off        Mt          Grade g/t        000 ozs                      Mt           Grade g/t          000 ozs                    Mt          Grade g/t          000 ozs          000 ozs
                                        g/t                     Gold    Silver Gold     Silver                             Gold    Silver   Gold     Silver                          Gold     Silver  Gold     Silver   Gold    Silver


AMANTAYTAU GOLDFIELDS
  Oxides (as of July 2007)
  Asaukak                                 0.6                                                                    1.98         1.8        1.8        117          114       0.45        1.4      1.8      21        26
  Uzunbulak                               0.6         0.12         1.9        4.0           7           15       1.94         1.5        2.8         95          175       1.28        1.3      2.1      53        88
  Sarybatyr                               0.6         0.74         2.5        -            59          -         0.89         1.8        -           51          -         0.79        2.2      -        55       -
  Vysokovoltnoye OB4                      0.6         1.22         1.3       34.1          50       1,332        3.63         1.2       27.7        140        3,236       0.59        1.4     22.6      27       430
  Vysokovoltnoye OB7                       -          0.27         1.2      120.0          10       1,038        2.90         0.9       50.0         88        4,660       0.38        0.9     14.7      11       179
  Zapadny Amantaytau                      0.6         0.05         1.3        -             2          -         0.28         1.3        -           11          -         1.05        1.5      -        51       -
  AGF - 17 deposits                       0.6          -           -          -           -            -         7.02         1.4        -          308          -        12.52        1.3      -       535       -     1,966       301
  AGF - 7 Exploration Targets             0.6          -           -          -           -            -          -           -          -          -            -          -          -        -       -         -       467    25,810
  Total Oxides                                        2.39         1.7                    129        2,385      18.64         1.4                   811        8,185      17.06        1.4              752       723   2,434    26,111

   Sulphides (updated June 2008)
   Severny                                2.0         0.94         9.0        -          272          -          7.95         8.0        -        2,040         -          0.67        5.7      -        123      -
   Centralny                              2.0         1.99         4.8        -          304          -          2.62         4.5        -          376         -          3.11        4.3      -        428      -
   Asaukak                                0.6         0.10         2.2        3.3          7           10        2.82         1.9        1.8        173         161        1.30        1.9      1.8       78       76
   Uzunbulak                              0.6         0.06         3.6        5.6          6           10        1.50         1.9        3.6         93         172        8.08        2.8      5.6      736    1,451
   Sarybatyr                                           -           -          -          -            -           -           -          -          -           -           -          -        -        -        -                 -
   Vysokovoltnoye OB4                     0.6         3.71         1.3       33.7        151        4,019        7.28         1.1       35.9        265       8,389        3.85        1.1     32.1      133    3,981
   Vysokovoltnoye OB7                      -           -           -          -          -            -          7.32         0.9       62.5        204      14,709        6.76        0.8     45.1      164    9,805
   AGF - 7 deposits (sulphides)                        -           -          -          -            -           -           -          -          -           -           -          -        -        -        -     5,171    46,683
   Total Sulphides                                    6.79         3.4       18.5        740        4,039       29.49         3.3       24.7      3,151      23,431       23.78        2.2     20.0    1,661   15,313   5,171    46,683

Total Amantaytau Goldfields                           9.18         2.9       21.8        869        6,424       48.13         2.6       20.4      3,962      31,616       40.84        1.8     12.2    2,413   16,036   7,605    72,794
OXUS ATTRIBUTABLE - 50%                               4.59         2.9       21.8        434        3,212       24.07         2.6       20.4      1,981      15,808       20.42        1.8     12.2    1,207    8,018   3,802    36,397

Soviet/Uzbek Classified Resources (Additional to JORC)                                      P1                                                         P2
                                                                                          000 ozs                                                    000 ozs
                                                                                      Gold     Silver                                            Gold     Silver
  AGF Sulphides                                                                       5,841   314,604                                            3,745    45,110
OXUS ATTRIBUTABLE - 50%                                                               2,921      157,302                                         1,873      22,555
Note: Northern Uzunbulak has a Soviet/Uzbek C1 resource of 0.14Mt @ 2.04g/t gold containing 9,000 ounces of gold
Note: Exploration results comprise all Soviet/Uzbek B, C1 & C2 resources, and P1/P2 resources to 50m depth for oxide and 3 deposits for sulphide, not yet JORC resource classified
Note : Resources as per 1st June 2007, apart from Amantaytau Severny and Centralny Sulphides updated June 2008,as part of BFS Study



  International Investment Forum
  29 May 2007
  Tashkent, Uzbekistan
              CIP PLANT:
             1.2 mtpa until Q2 2009 @ 1.8 g/t
             80% recovery
             60,000 oz in total
             $640/oz – total cash cost
      VYSOKOVOLTNOYE:
             1 mtpa ongoing @ 1.2 g/t Au / 28 g/t Ag
             Au 68% recovery / Ag 62% recovery
             40,000 oz eq pa
             $361/oz – average total cash cost over next 7 years, excluding inflation
             3:1 average stripping ratio
      OTHER HEAP LEACH:
             1 mtpa late 2008 onwards @ 1.18-1.46 g/t
             69% recovery
             30,000 oz pa
             $454 /oz - average total cash cost over next 7 years, excluding inflation
             5:1 average stripping ratio
             Estimated pre-production Capex: $5m
International Investment Forum
29 May 2007
 Tashkent, Uzbekistan
34
          ENVIRONMENT:
                 Mine constructed and operated to World Bank and Uzbek standards
                 Strict regular monitoring by local agencies have revealed no negative
                  impacts
                 Full time environmental control staff on site


          SAFETY:
                 No fatal accidents
                 No loss time injury for over 18 months
                 4 full time safety officers on site




 International Investment Forum
 29 May 2007
 Tashkent, Uzbekistan
35
     TRAINING:
        Ongoing training programmes for employees in technical and financial
          departments
        Senior management positions now staffed by locals

     SOCIAL:
        Oxus and AGF recently established University of Westminster
         Scholarship Program to sponsor scholarships and English language
         learning centre in Zarafshan in conjunction with Westminster
         International University in Tashkent.
        Significant contributions made to local social programmes
            Refurbished two local clinics
            Installed two heating systems in two local schools
        Local labour, suppliers and contractors used where possible

 International Investment Forum
 29 May 2007
 Tashkent, Uzbekistan
36
 International Investment Forum
 29 May 2007
 Tashkent, Uzbekistan
37
                                   Approximately 6 kilometres




                         Oxus mine is 25 km southwest of Muruntau

International Investment Forum
29 May 2007
Tashkent, Uzbekistan