Interim Results for Six Months Ended 30 June 2017

26 September 2017

Eurasia Mining plc

("Eurasia" or the "Company")

Interim Results for the six months ended 30 June 2017

Eurasia Mining plc, the platinum, palladium, iridium, rhodium and gold production company, announces its interim results for the six months ended 30 June 2017.

CHAIRMAN'S STATEMENT

I am pleased to report to you as Executive Chairman of the board for the first time, for these, our 2017 interim accounts. On behalf of the Company, allow me to extend again a heartfelt thank you to Michael Martineau for his long years of service to the Company on his retirement as non-executive chairman earlier this year.

Over the last few months there has been continued progress in the development of our projects which I have outlined in the operational update below. Our operating mine at West Kytlim complements our Monchetundra asset, which is nearing the end of feasibility, and these, together, create an integrated pipeline of PGM assets. Our people both in Russia and in London, continue to focus their attention on the Company's core strategy of developing these two key assets, while also pursuing potential openings at other projects throughout Russia, such as the Semenovsky tailings project where our exclusivity was extended recently.

In addition, we greatly welcome the turnaround in the mining sector in the past twelve months, and the consequent upswing in commodity prices.

I would like to take this opportunity to thank all of our shareholders, stakeholders and employees for their continued support and look forward to updating the market with our progress over the coming months.

Christian Schaffalitzky

Executive Chairman

OPERATIONS UPDATE

Monchetundra 

A 1.9 million ounce (reserve and resource) PGM (palladium and platinum) deposit with significant base metal credits in final stage of feasibility, in the Kola Peninsula, north west Russia

Progress through the permitting process at Monchetundra continues as planned. The Company, through our local Russian subsidiary, filed for a Discovery Certificate for the already state approved reserves and resources of 1.9 million ounces PGM at two open-pittable deposits six kilometres southwest of the town of Monchegorsk on the Kola Peninsula. The Discovery Certificate was issued in mid-July, marking another milestone for the project and the Company. The Discovery Certificate also attributes mining rights to other metals in the reserves approved, namely; gold - 2,139 kilogrammes, copper - 28,124 tonnes and nickel - 30,401 tonnes.

As well as advancing the permitting process towards the submission of a mining license application, the Company has been busy developing working relationships with key service contractors and working on potential business partnerships in metal streaming, and down-stream sales. In order to apply for a mining license Eurasia will be required to have contracts with service providers in place, to cover mine design, blasting, mine surveying, ecological monitoring and land rehabilitation. These contracts have now been assigned ahead of the official submission of the mining license application. In addition, discussions are ongoing with local and international companies seeking quality, low sulphide feed stocks for their PGM smelting facilities.

As the project gets closer to becoming a producing mine it is important to understand the market for PGM and base metal concentrates, and the companies that are capable of processing life of mine output into palladium, platinum, gold, nickel and copper products. Discussions are also ongoing with royalty companies. Most recently, a non- disclosure agreement has been signed with Silver Wheaton Inc, a Canadian based royalty streaming company, to discuss the potential of its commercial involvement. Interested parties also include Glencore and Sinosteel, with whom an Engineering, Procurement, Construction and Financing ("EPCF") contract was agreed in October of 2016 providing access to finance with which to build the plant at the Monchetundra mine. The EPCF contract includes financing of $150 million as a 10 year facility at 6m LIBOR plus 3.5 per cent. Further updates will be provided should any of these arrangements progress.

A total in-situ value calculation based on metal prices in September 2017, undertaken by Eurasia, amounts to more than $2.0 billion,-a significant increase on the $1.7 billion calculated in July of this year.  As a result of the price gains made in the Monchetundra 'metals basket', but particularly in palladium, the Company is now considering a re-estimation of the reserves at Monchetundra; as the palladium and platinum prices approach parity, ore bodies contoured in terms of palladium equivalent (a basket of palladium and platinum) change, such that new parts of ore bodies become economic. At the time of writing, the year to date increase in palladium price was 32.5 per cent (source: Kitco.com)

The application for a mining permit for the Monchetundra License is expected to be made in the fourth quarter of this year, its exact timing is uncertain due to the further clearance that is required at various local and state commissions. The award of the mining license may occur six to 12 months after submission. For comparison, the mining right at the West Kytlim Mine was assigned within eight months of submission of the application.

West Kytlim

An operating alluvial platinum and gold mine in the Ural Mountains

Mining at West Kytlim, Eurasia's operating platinum, gold, iridium and rhodium mine in the Ural Mountains has progressed following a later than scheduled start up in mid-May 2017.  An increase in reserves was calculated earlier in the Spring, owing to higher than expected mining grades and ore body extensions discovered in the 2016 mining season. These reserves were assimilated into the 2017 mining allotment.

Eurasia continues to work in partnership with Regionmetall, the mining contractor at the project, in developing the project reserves and resources, which currently stand at 2,283 kilogrammes of raw platinum in reserves and 1,400 kilogrammes of platinum in resources.

Capital expenditure, and the majority of operating costs, are being met by Regionmetall for a consideration of 70 per cent of top line sales. Various adaptations and improvements to the processing scheme used last year by Regionmetall were tested in the opening weeks of the 2017 season and modifications made to the series of vibrating screens. These were changes to how oversize material is managed before smaller particle sizes proceed to a five-track sluice.

In parallel with the mining operation, work continues in developing the resources and reserves ahead of mining. A total of 1,490 meters of resource upgrade drilling was completed earlier in the year, at the Bolshaya Sosnovka and Kluchiki areas. Samples were subsequently assayed and reserve estimation is being prepared which will allow conversion of C2 category reserves to C1 category reserves. This work, managed by Eurasia but funded by Regionmetall, ensures mineable reserves for the 2018 and 2019 mining seasons. A further 390 metres of large diameter infill sampling is planned for the autumn of this year.

As has previously been announced, the mining season commenced later than planned and therefore, Regionmetall failed to reach the production quota outlined in an agreement that was entered into in January 2017. Therefore, in accordance with the agreement, the exclusivity granted to Regionmetall as mining contractors was automatically rescinded. Owing to the distributed nature of the reserves and resources throughout the 36 square kilometre license, Eurasia have begun to look for further experienced mining contractors to work in tandem with Regionmetall thereby increasing mine output considerably and improving project economics through a shortened life of mine. Discussions are now ongoing with several groups.

Semenovsky Tailings Project

A feasibility stage project recovering gold and silver from old mine tailings

The Semenovsky Project, over which we have extended our exclusivity until the end of November 2017, remains of interest to Eurasia due to its simple processing scheme and short lead time to production. Tailings projects are a proven route to early cash flow for junior miners and explorers and we continue to seek a way to finance its development.

Enquiries:

Eurasia Mining Plc

Christian Schaffalitzky/Michael de Villiers

+44 (0)207 932 0418

WH Ireland Limited

Katy Mitchell

+44 (0)161 832 2174

Beaufort Securities

Elliot Hance

+44 (0)207 382 8300

Blytheweigh

Tim Blythe/Camilla Horsfall

+44 (0)207 138 3204

Condensed consolidated statement of comprehensive in come

for the six months ended 30 June 2017

Condensed consolidated statement of financial position

As at 30 June 2017