HISTORY

Founded and listed on AIM in 1996, Eurasia commenced working in Russia by negotiating interests in a number of Gold, Gold-Copper and Platinum Group Mineral (PGM) projects though quickly focussed its attention on PGM opportunities. West Kytlim, now an operating Platinum, Palladium, Iridium, Rhodium and Gold Mine is a long standing Eurasia interest and a key company discovery credit. Monchetundra, also a Eurasia discovery, achieved Maiden Reserves Approval in 2016 and is a major PGM and base metals project.

History

2016 saw the successful opening of the mine at West Kytlim, with a trial mining operation producing Platinum, Gold, and other PGM; Palladium, Iridium and Rhodium. Revenues from the West Kytlim mine contributed to a declared profit of £1m in 2016. 2016 was also a key year for the Monchetundra Project as Maiden Reserves of 2m ounces PGM (Palladium + Platinum) attained state approval. A Discovery Certificate was subsequently issued guaranteeing the right to apply for and obtain a  mining license to the holder.

2013 and 2014 were exciting years for Eurasia's West Kytlim project. In June 2014 Eurasia announced acquisition of an additional 50% of Urals Alluvial Platinum, previously held through a joint venture with Anglo Platinum. A discovery certificate was issued for the West Kytlim licence in late 2014 and an application lodged for a Mining Licence. In October 2015 the licence was approved by Prime Minister Dmitry Medvedev and in early November issued by the Russian Ministry for Subsoil Use.  

From 2009 to 2013 ongoing traverse drilling and sampling continued to expand the resource base at West Kytlim. Additional areas of reserves were also reported and approved within the licence area. Drilling in 2013 targeted higher grade ore in the West Nittis area on the Monchetundra Licence.

In 2010 and 2011 Eurasia conducted follow up assessment of gold projects identified in earlier Eastern Siberian reconnaissance work. Project assessment was extended into former Soviet States in Central Asia. The first signing of a Memorandum of Understanding has been for the acquisition of an interest in the Kamushanovsky Uranium project in Kyrgyzstan.

At Kola, drilling in 2008 defined three mineralized zones with open pit potential at the Monchetundra Licence;. A zone of PGM's was also outlined at the Volchetundra Licence. 2008 also saw first ore reserves approved on part of the West Kytlim licence.

The Kola, Uralian and east Siberian projects were all significantly advanced in 2006 and throughout 2007.

In 2005, after a moratorium on licence renewals which delayed progress in the Urals, Eurasia signed an agreement to work with Anglo Gold Ashanti, then the world's second largest gold producer; this afforded access to East Siberian gold opportunities. Agreements were also signed with Anglo Platinum for joint work on the three Kola Peninsula PGM licences. Test mining began at West Kytlim and Eastern Siberian gold reconnaissance continued from the companies Chita office.

In 2003 Eurasia commenced negotiations to acquire interests in three new hard rock PGM projects on the Kola Peninsula in NE Russia and continued work on the Urals alluvial platinum projects.

Between 1999 and 2000 there was continued development and drilling on the Baronskoye hard rock Palladium (Nickel Copper) deposit. Work began at the West Kytlim alluvial platinum licence area in 2002.

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