::::::::::::::::: OXUS GOLD 2005 :::::::::::::::::

Eurogold Limited
22 December 2006


Oxus Litigation

Eurogold Limited is pleased to advise that it has today entered into an
agreement with IMF (Australia) Limited ('IMF') under which IMF will fund the
ongoing Australian Federal Court proceedings that Eurogold Limited and Eurogold
Holdings (Bermuda) Limited have commenced against Oxus Holdings (Malta) Limited
and Oxus Gold Plc.

The Agreement will become effective in mid January 2007 and contains IMF's usual terms and conditions, including an indemnity under which Eurogold will not be liable for adverse costs (if any) incurred in the proceedings. Eurogold will retain a majority interest in any amounts recovered from Oxus under the litigation, with the amount dependent on the timing of any recovery.

IMF is the largest litigation funder in Australia and is listed on the
Australian Stock Exchange.

Pauline Collinson
Company Secretary
Eurogold Limited