/THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE
OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO A US
PERSON. NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA OR
TORONTO, March 30 /CNW/ - Eurasia Gold Inc. ("Eurasia" or, the "Company")
(TSX: EGX) is announcing that it has completed the acquisition of 100% of the
rights to the Bozymchak Gold-Silver-Copper Project in Kyrgyzstan and to the
Akjilga Silver Project in Tajikistan (the "Acquisition") for a purchase price
of US$167,806,739 which was paid by issuing 169,249,163 shares of Eurasia. The
assets were acquired from companies controlled by Mr. Kumar Mukashev, a
director of Eurasia. The Acquisition was previously approved by shareholders
at a special meeting of shareholders held on March 13, 2007 and was also the
subject of a formal valuation prepared by Haywood Securities Inc. in
accordance with applicable Canadian securities law requirements.
About the Bozymchak and Akjilga Projects
The Bozymchak deposit of gold, copper and silver is located in the
Alabuka region Jalalabad district, Kyrgyzstan. The deposit area occupies a
part of the 1,600 hectare license area close to the Uzbek border. The deposit
can be accessed by 16km of gravel and 24km of tarred roads from the Uzbek
border. Heavy transport can reach the site on a year round basis.
A licence for geological exploration was issued on February 3, 2005 and
is valid until December 31, 2008. As well, a licence to develop the central
part of the Bozymchak deposit was also issued and which is valid until
September 5, 2008.
As at December 2006, the Bozymchak Project had a measured mineral
resource of 2,782Kt grading 1.55g/t Au, 0.85% Cu and 9.80g/t Ag for total
measured resources of 4,308 Kg Au, 23 Kt Cu and 27 t Ag. Indicated mineral
resources were 10,938Kt grading 1.49 g/t Au, 0.80% Cu and 9.45 g/t Ag for
total indicated resources of 16,244 Kg Au, 87 Kt Cu, and 103 t Ag. There was
an additional 7,909 Kt of resources in the inferred category grading 1.31 g/t
Au, 0.73% Cu, and 8.72 g/t Ag for total inferred resources of 10,396 Kg Au, 57
Kt Cu, and 69 t Ag. All mineral resource and reserve estimates presented in
this press release have been prepared in accordance with the JORC Code, which
is equivalent to CIM standards.
The Bozymchak Project is the subject of a technical report entitled
Technical Report on the Bozymchak Project, Western Kyrgyzstan (the "Technical
Report") dated January 2007, prepared by Wardell Armstrong International
("WAI"), an independent mining consulting company, which has been filed with
Canadian Securities Administrators (CSA) on the System for Electronic Document
Analysis and Retrieval (SEDAR). The information set out in this press release
relating to the Bozymchak Project is derived from the Technical Report.
The Akjilga silver deposit is located in the Pamir Mountains within the
Maunting Badakshan region, Tajikistan. The Akjilga licence agreement
incorporates two separate areas, totalling 8400 hectares. The Akjilga property
could be made accessible all year round, although additional operating costs
will be incurred as a result of the high elevation and remoteness of the site.
The region has been under systematic geological study since 1934. The majority
of the exploration work at Akjilga was undertaken during the Soviet period and
therefore much of the usual detailed sampling information and quality control
data are not readily available or verifiable. The Soviet era prospecting was
completed in 1992. All available data of the 1992 exploration report (in
Russian) which contains all geological details, assays results and cross
sections and plans showing the geological interpretation have been prepared
according to Soviet standards and do not comply with reporting standards of
Canadian securities laws and, as such, are not disclosed in this press
This news release contains forward-looking statements contained that are
not historical facts. Forward-looking statements involve risks, uncertainties
and other factors that could cause actual results, performance, prospects and
opportunities to differ materially from those expressed or implied by such
forward-looking statements. Forward looking statements in this news release
include, but are not limited to, the realization of mineral resource
estimates. Factors that could cause actual results to differ materially from
these forward-looking statements include those risks set out in Eurasia's
public documents filed on SEDAR. Although Eurasia believes that the
assumptions and factors used in preparing the forward-looking statements are
reasonable, undue reliance should not be placed on these statements, which
only apply as of the date of this news release, and no assurance can be given
that such events will occur in the disclosed time frames or at all. Eurasia
disclaims any intention or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or otherwise.
The qualified person, as such term is defined in National Instrument
43-101 - Standards of Disclosure for Minerals Projects ("NI 43-101"), who
prepared the Technical Report was Dr. Phil Newall (BSc, PhD, FIMMM, C. Eng.).
Dr. Newall is independent of the Company for the purposes of NI 43-101.
Mineral resources that are not mineral reserves do not have demonstrated
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.
For further information:
For further information: Baltabek Mukashev, President and CEO, + 7 3272
37 83 06, firstname.lastname@example.org; Eurasia Gold Inc., (416)