Kazakhmys rejects request by the Board of Eurasia Gold Inc. to increase price of its offer

    TORONTO, June 1 /CNW/ - Eurasia Gold Inc. ("Eurasia") (TSX: EGX)
announces that Kazakhmys Gold Inc. (the "Offeror") and Kazakhmys PLC
("Kazakhmys") have rejected the request by the Board of Directors of Eurasia
(the "Board") that the unsolicited all-cash offer of $0.85 per Eurasia
Ordinary Share from the Offeror for all outstanding Ordinary Shares of Eurasia
effective on May 15, 2007 (the "Offer") be increased to better reflect the
Board's opinion of the value of the Eurasia Ordinary Shares. After receiving
the opinion of the Special Committee on May 28, 2007, the Board authorized the
Special Committee and its Advisors to continue the meetings and discussions
with Kazakhmys and its advisors referred to in the Directors' Circular mailed
to Eurasia shareholders on May 30, 2007. These have now terminated. The
Special Committee has been advised that, after careful consideration, the
Offeror is not prepared to increase the Offer price. Accordingly, the
recommendation of the Special Committee and of the Board of Directors, as
described in the Directors' Circular, that shareholders reject the Offer
remains unchanged.
    Eurasia's shareholders are advised to read the Directors' Circular as it
contains important information about the Offer. Copies of same are available
at www.SEDAR.com under Eurasia's SEDAR profile.

    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, baltabek.mukashev@almaty.eurasiagold.com; Eurasia Gold Inc., (416)
504-2899, info@eurasiagold.com

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