“a world class resource in the heart of central asia” september 2008 oxus gold plc aim: oxs.l

““A WORLD CLASS RESOURCE IN THE A WORLD CLASS RESOURCE IN THE HEART OF CENTRAL ASIA”HEART OF CENTRAL ASIA”

September 2008

OXUS GOLD PLC AIM: OXS.L

International Investment Forum29 May 2007Tashkent, Uzbekistan2

This presentation is strictly confidential, may not be distributed to the press or any other person, and may not be reproduced in any form, in whole or in part. Failure to comply with this restriction may constitute a violation of applicable securities laws.

This presentation contains both historical facts and statements relating to Oxus Gold plc’s (“Oxus”) current plans, estimates, objectives and strategies which are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond Oxus' control that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Accordingly, any reliance you place on such forward-looking statements will be at your sole risk.

The information contained in this document is being supplied only to persons who fall within Article 11(3) of the Financial Services Act 1986 (Investment Advertisements) (Exemptions) Order 1996 (as amended). The information contained in this presentation has not been independently or legally verified and is subject to change without notice. No representation or warranty, express or implied, is given to the accuracy, completeness or fairness of the information or opinions contained in this document and no liability is accepted by Oxus or any of its directors, members, officers, employees, agents or advisers for any such information or opinions.

This information is being supplied to you, in whole or in part, for information purposes only and not for any other purpose. In particular, this presentation is not intended for publication outside of the United Kingdom and the distribution of this document in jurisdictions other than the United Kingdom may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of laws of any such other jurisdiction.

This document and the information contained in it do not constitute a prospectus and do not form any part of an offer of, or invitation to apply for, securities. Neither this presentation, nor any part of it, nor the fact of its use, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever.

Forward Looking Statements


Producing precious metals company Produced over 500,000 oz of gold since January 2004 and 1.2 Moz of silver

since June 2007 Focused on Uzbekistan through Amantaytau Goldfields JV (AGF) AGF– 50% JV with Uzbek State, with Oxus as Manager:

2.44 Moz of gold reserves; 6.7 Moz of silver reserves (JORC) Within 7.2 Moz of gold resources and 54.1 Moz of silver resources (JORC) Significant exploration potential Increasing production from 75,000 oz pa currently to over 300,000 oz pa from

mid 2010 New underground sulphide mine in addition to existing oxide production All figures 50% attributable to Oxus

Admitted to London Stock Exchange AIM: 2001 (OXS.L)

OXUS: An Introduction


Douglas Sutherland

(Non-Executive/Chairman)

Miradil S. Djalalov

(Non-Executive)

Gordon Wylie

(Non-Executive)

Richard Wilkins

Chief Executive Officer

Jonathan Kipps

Chief Financial Officer / Secretary

John Donald

Chief Operating Officer

Oliver Prior

(Non-Executive)

Richard Shead

(Non-Executive)

Oxus: Board of Directors


Approval to proceed with Sulphides Underground Mining Project received from Cabinet of Ministers in December 2007

To be developed by 50% owned Amantaytau Goldfields $167 million project – Royal Bank of Scotland mandated to arrange project

finance Bankable feasibility study completed June 2008 First gold production scheduled for late 2009

Strategic alliance with Zeromax, Uzbekistan’s largest private sector employer Zeromax currently owns 18% of Oxus and is represented on both the AGF

Directorate and Supervisory Board, as well as Oxus Board Kyrgyz, Romanian & Turkish assets sold to KazakhGold in June 2007

Oxus received 3.5m KazakhGold shares valued @ $73m Distributed $66m in KazakhGold shares as dividend in July 2007 Additional payment of up to $80m in cash if KazakhGold obtains license to

develop Jerooy gold deposit in Kyrgyzstan

Note: All references to $ are US$

Oxus: Focused on Uzbekistan


Annual gold production increases by 8.5% to 80,203 ounces*

Annual gold sales increase by 13.8% to 74,147 ounces*

Profitability restored at both operational (AGF) and corporate levels during the 6 months ended June 2008

BFS completed on underground sulphides project and lead bank mandated to arrange project finance

Placing of convertible loan notes raises cash for working capital

Outstanding litigation and arbitration settled

* 50% attributable to Oxus

Oxus: Interim Highlights for 12 months to 30/6/08 (on account of 18 month period to 31/12/08)


ZeromaxStrategic Partner

18%

381m 1p shares in issue (429m fully diluted)

Free Float

29%

RAB CapitalSpecial Situations Fund

27%

Capital Group 9%

Alfa Group 7%L-R Global

8%

Directors andManagement 2%

Strategic alliance with Zeromax plus strong institutional support

Oxus: Ownership - Sept 2008


Market Capitalization £44.8 million

Current share price: 11.75p / share

52 Week Share Price Low/High: 10.5p – 54.75p

2007 Dividend Paid Equivalent of 9p/share

Shareholder loans due from AGF (earning LIBOR +3%): $33mCorporate loan due to Nedbank: $7.5mCash Position $14m

Convertible Loan Notes Placed in May 2008 (37p / 8% coupon) $18.5m

Hedge Position: None

IFRS compliant: 2006 and 2007 accounts

Oxus: Summary Statistics – 23/9/08Oxus: Summary Statistics – 23/9/08


World class mineral assets Uzbekistan ranked as fourth largest gold resources in the world (estimated 170

Moz) Ninth largest gold producer – 80 t per year (2.6 Moz pa)

60 t from Muruntau mine; only 25 kms from AGF Politically stable Skilled, educated workforce Established infrastructure – Central Asia’s transport hub, with energy self-

sufficiency and good IT infrastructure Recognized foreign investment climate:

Nestlé, BAT, Case Corp., ABN Amro Bank (RBS), AIG, Coca Cola General Motors entry in October 2007 (former UzDaewoo car plant)

Strategic alliance with Zeromax Potential for additional projects

Established mining & investment environment

Why Uzbekistan?


Second largest gold province in the world after the Witwatersrand Basin Massive potential Underexploited

The Tien Shan Gold Belt


192 km² license area in Central Kyzylkum on Tien Shan Access to established mining infrastructure

Road / rail / power / water / airport Experienced human resource base 25 km from one of world’s largest open pit gold mines - Muruntau

Muruntau has produced over 50 Moz (1,600 t) of gold to date 1.8 Moz (60 t) of gold produced annually Expected to be in production for at least another 25 years Owned by NMMC = 8th largest gold producer in the world

Central Kyzylkum holds estimated 3,200 t in potential mineralization Access to 2 London bullion market accredited gold and silver refineries

Located in a world class mining environment

Oxus on the Tien Shan Gold Belt


Investing since 1996 Oxus owns 50% of AGF (50% owned by Uzbek State) Total investment to date is approximately $100m Presently employing over 650 local workers with an additional 800 to be employed

for the sulphides / additional heap leach projects Gold and silver doré refined in Uzbekistan (LBMA accredited) Produced and exported over 500,000 oz gold equivalent bullion $35m original project finance repaid $5m (Uzbek Soum 5bn) local corporate bond repaid Strong supporter of the local economy

A Proven Track Record in Uzbekistan

Oxus in Uzbekistan


Sulphide reserves of 2.01 Moz Au; balance in oxides 58 explored gold deposits and occurrences within 192 km² license area Only 3 deposits exploited to date

Potential Total: 24 Moz Au; 484 Moz Ag

AGF: Reserves and ResourcesAGF ORE RESERVES, MINERAL RESOURCES AND

EXPLORATION RESULTS

+ 5.70Moz Ag

Mineral Resources contained within

Measured + Indicated Resource 4.85Moz Au + 36.26Moz Ag JORC

plus

Inferred Resource 2.36Moz Au + 16.01Moz Ag

Exploration Results 7.59Moz Au + 72.10Moz Ag

Soviet Resource PotentialSoviet P1 Resource 5.84Moz Au + 314.61Moz AgSoviet P2 Resource 3.75Moz Au + 45.11Moz Ag

NB : - 50% of the above Ore Reserves and Mineral Resources attributable to Oxus - 'Exploration Results' are not resources and with Soviet P1 and P2 are broadestimates of exploration potential beyond the resource base. Essentially blue sky based on limited data insufficient to calculate a resource.

Ore Reserves 2.38Moz Au

INCREASING CONFIDENCE

NOT JORC

Note: As of 25 August 2008


OXIDES: Further 1.0 mtpa from CIP plant until Q2 2009 – 50,000 oz gold in total Ongoing 1mtpa Vysokovoltnoye gold / silver heap leach – 37,000 oz pa¹ Additional heap leach (Asaukak, etc.) – 1 mtpa, 30,000 oz pa, Q2 2009 on Approx 70,000 oz per year for foreseeable future At least 1Moz expected to be mined over 15+ years including resources and

blue sky SULPHIDES:

CIP plant modification – to treat sulphide ores through flotation and biological oxidation and cyanide leaching of concentrates (operating late 2009 onwards)

200,000 oz in 2010, 230,000 oz pa thereafter At least 5 Moz expected to be mined over 20+ years including resources and

blue sky ONGOING EXPLORATION:

$3m budgeted annually

Target: 300,000oz + producer from mid 2010(1) Includes Vysokovoltnoye silver heap leach production as gold equivalent ounces (approx 63:1) at 23/9Note: 50% attributable to Oxus

AGF Project Pipeline


Open Pit Excavator CIP Plant

Centralny Open Pit CIP Conveyor Belt

15


Oxus earns a management fee equivalent to 5% of operating costs; Uzbek state geology committee earns 2% fee

CIP conversion to sulphide plant

AGF Project Timeline


Mining Strategy: Underground mine (decline access, trackless mining, cut and fill mining method), ongoing

exploration Projected Tonnage: 750,000 tpa commencing late 2009, increasing to 1.2 mtpa from mid 2010, @ 7.75 g/t Process Technology: Biological Oxidation (BIOX)Recovery: 88%Output: 33,000 oz in 2009; 202,000 oz in 2010; 230,000 oz

pa thereafterPre-production Capex: $167 millionProject finance: RBS mandatedCash costs : $403/oz (including taxes and management fee)

Feasibility study initially completed by Wardell Armstrong (WAI) in Sept. 2005 Bankable Feasibility Study completed June 2008 by WAI 20+ year mine life assuming ongoing mining of resources / blue sky

AGF Sulphides: Bankable Feasibility Study(7 year mine life: Severny + part Centralny reserves)

International Investment Forum29 May 2007Tashkent, Uzbekistan

NPV $331m at 7% discount rate per annum *

IRR 51%PAYBACK 24 months from start of

productionCOSTS $403 per oz (including taxes and

management fee)* using COMEX forward gold curve per Standard Bank ($905 in 2009 - $1,063 in 2016), and 2.5% pa inflation

16

• Potential to improve economics more cost effective mining methods additional reserves

• Mine life will extend beyond initial 7 years

AGF Sulphides: BFS Project Economics(Initial 7 year mine life)


INHERITED FROM SOVIET ERA Shaft sunk to 360m depth; 5m diameter 27 km of underground exploration tunnels on five different levels

AGF UPKEEP AND MAINTENANCE Winder and shaft steelwork refurbished and in daily operation Shaft to be used as part of ventilation and escape system Recently re-opened, equipped and ventilated 723m of tunnels Existing tunnels to be used for extensive drilling programme with

new Atlas Copco drill

AGF Sulphides: Work to Date


Sea Level

AGF – Section through ore-bodySignificant potential for expansion


At 500 Metres below existing workings

Soviet Exploration Data

Huge down dip gold potential

20m @ 13.5 g/t Au

15m @ 14.23 g/t Au

Base of Existing Resources

Drillhole 1767a

From 871m to 879m

Length Gold

3m 23.1 g/t

2m 72.0 g/t

3m 66.5 g/t

8m 51.6 g/t = Total

Sea Level

AGF: Further Exploration Potential


Vysokovoltnoye Heap Leach First Gold Pour

Heap Leach PadHeadgear for underground sulphides


• Forecast includes gold and silver as gold equivalent from 2008-2013Forecast includes gold and silver as gold equivalent from 2008-2013• Includes mining of oxide resourcesIncludes mining of oxide resources• Sulphides enter full production in 2010Sulphides enter full production in 2010• Oxus attributable ounces at 50%Oxus attributable ounces at 50%

AGF: 10 year Production Forecast


AGF expects to employ 1,450 local workers by 2010 Investment of more than $190m over the next three years,

including ongoing sustaining capital Expected 20+ year mine life from the total resource base Estimated $1bn in tax revenues for Uzbekistan *

Approx 17% of gross revenue Includes 10% profits tax Includes >$200m in social development taxes

Operating in accordance with World Bank environmental standards

* Life of mine corporate model, oxides + sulphides

AGF: A Sustainable Investment


Oxus has significant value to be unlocked, through a near term projected Oxus has significant value to be unlocked, through a near term projected production rate of 150,000 attributable ounces per annum production rate of 150,000 attributable ounces per annum

Severstal bid Celtic at approximately $282 per attributable resource ounceSeverstal bid Celtic at approximately $282 per attributable resource ounce

25Source: Canaccord Adams, London June 5 2008

Gold Producers Market Cap per Attributable Resource Ounce (ARO)


Undervalued compared to peer group

Strong fundamentals from existing projects 37,500 oz pa attributable producer currently 150,000 + oz pa attributable producer within 2-3 years¹ from mid 2010 Generating $50m+ attributable profit pa at $800 / oz gold Reducing operating costs per oz Significant upside potential for new reserves Key operating personnel already in place

Zeromax strategic alliance Further growth potential via new projects

Looking to become world class precious metals producer and Uzbekistan’s flagship mining company on international capital markets

(1) Subject to financing of pre-production Capex

Why invest in Oxus Gold?

Oxus Gold plc:A Significant investment opportunity


Appendices


Streamlined Uzbekistan-focused business modelStreamlined Uzbekistan-focused business model

Oxus Gold plc

Oxus Holdings (Malta) Ltd(Malta)

Oxus Resources Corp(BVI)

Amantaytau Goldfields(Uzbekistan JV) 50%

100%

100%

Oxus: Corporate Structure


Nominated Adviser & Broker: Canaccord Adams, London

Joint Broker: Fairfax I.S. PLC

Auditors: Deloitte & Touche LLP

Registrars: Capita Registrars, London

Solicitors: English Law: Norton Rose, London Uzbek Law: Denton Wilde Sapte, Tashkent

Bankers: Nedbank (Corporate loan facility) HSBC Barclays, London (AGF Gold Sales Depository) ABN Amro, Tashkent Ipoteka Bank, Tashkent / Zarafshan

Oxus: Advisers


6 months ended 30/06/08

6 monthsended

31/12/07Year ended

30/6/07Year ended

30/6/06

Revenue 1,655 1,065 2,387 3,383

Share of Profit from JV 460 (1,970) (3,213) 10,169

Profit/(Loss) after tax 1,838 (43,013) (18,966) 2,398

Total Assets 92,528 78,378 186,291 176,373

Source: Oxus Gold Plc annual reports, more financial information available at www.oxusgold.co.uk(1) In accordance with IFRS

Oxus: Financial Extracts ($ 000)

International Investment Forum29 May 2007Tashkent, Uzbekistan32 (1) Calculated in accordance with Gold Institute’s production cost standard

First 3 ½ years production from oxide ores, processed through CIP plant Oxide grades and recoveries have declined, as expected Vysokovoltnoye heap leach project sold first gold and silver in July 2007 Vysokovoltnoye earned $ 3m profit in H2 2007 Longer term oxide production from heap leach, not CIP

Year to 12/2007

Year to 12/2006

Year to 12/2005

Year to 12/2004

Ore Processed (Tonnes) 845,177 1,225,400 1,567,529 1,062,101Average Grade (g/t) 2.7 3.0 4.5 5.8Recovery % 67 73.4 77.1 82.6Gold Produced (oz) 48,379 98,053 161,615 148,511Cash Cost ($/oz) ¹ 656 392 202 160Total Cost ($/oz) ¹ 759 445 230 182Net Profits ($ Millions) (11.05) 8.85 13.26 16.13

AGF Open Pit CIP Oxides


AGF deposits discovered in 1976 Located in Zarafshan-Turkestan formation of Southern Tien Shan

(as per Muruntau) Lower Palaeozoic Besapan siltstones and sandstones host Ore bodies formed during Caledonian, Hercynian and Alpine

deformation Sulphide deposits formed in steeply dipping fractures and breccia

zones up to 20m in width Primary sulphide mineralization oxidised within 50m of surface

AGF Geological Overview


AGF Reserves(50% attributable to Oxus)

OXUS GOLD PLC PRECIOUS METAL ORE RESERVES AS OF 1st JULY 2008 (UNAUDITED)

Cut off Mt Mt Mtg/t Au Gold Silver Gold Silver Gold Silver Gold Silver Gold Silver Gold Silver

CIP and Heap Leach Oxides (Gold)Asaukak (15% Dilution, 95% Ore Recovery) 1.0 0.32 2.1 1.6 22 16 0.32 2.1 1.6 22 16 Stockpiled ore at Asaukak 0.5 1.10 0.7 24 1.10 0.7 24 Stockpiled Asaukak ore at CIP plant 1.0 0.03 2.1 2 0.03 2.1 2 Uzunbulak (15% Dilution, 95% Ore Recovery) 0.8 0.09 1.9 3.8 5 11 0.91 1.7 2.5 51 72 1.00 1.8 2.6 56 83 Sarybatyr (15% Dilution, 95% Ore Recovery) 0.6 0.77 2.2 54 0.93 1.6 47 1.70 1.8 101 Sub-Total CIP and Heap Leach Oxides (Gold) 1.99 1.3 85 11 2.16 1.7 120 89 4.15 1.5 205 99 Heap Leach Oxides (Silver - gold)Vysokovoltnoye OB4 (8% Dilution, 95% Ore Recovery) 0.6 0.66 1.3 28.0 28 591 1.77 1.2 26.2 69 1,493 2.43 1.2 26.6 97 2,083 Vysokovoltnoye OB7 (8% Dilution, 95% Ore Recovery) 1.66 1.0 51.3 56 2,736 1.66 1.0 51.3 56 2,736 Stockpiled ore at Vysokovoltnoye 0.82 0.3 29.5 9 776 0.82 0.3 29.5 9 776 Sub-Total Heap Leach Oxides (Silver - gold) 1.48 0.8 28.8 37 1,367 3.43 1.1 38.3 125 4,229 4.91 1.0 35.4 162 5,595 Total Oxide Reserves 3.47 1.1 122 1,377 5.59 1.4 244 4,317 9.06 1.3 366 5,695 SulphidesAmantaytau Centralny (23.4% Dilution, 91.3% Ore Recovery) 2.0 2.21 4.7 332 2.21 4.7 332 Amantaytau Severny (28.3% Dilution, 99.0% Ore Recovery) 3.5 0.85 7.6 207 5.88 7.8 1,470 6.73 7.7 1,677 Total Sulphide Reserves 0.85 7.6 207 8.10 6.9 1,802 8.94 7.0 2,009 TOTAL AGF RESERVES 329 1,377 2,047 4,317 2,375 5,695 OXUS ATTRIBUTABLE AGF RESERVES (50%) 164 689 1,023 2,159 1,188 2,847 Note : Amantaytau Centralny sulphide reserves include 1.78Mt of 'transition' sulphides at an average grade of 4.73 g/t (271 Kozs gold) subject to further metallurgical testwork to optimise the process flowsheet Asaukak and Vysokovoltnoye OB7 ore reserves take into consideration depletion up to 30th June 2008, but are unaudited until such time that the balance of reserves can be reconciled with the block models.

AMANTAYTAU GOLDFIELDS

Proven Reserves Probable Reserves Proven + ProbableGrade g/t Contained KozsGrade g/t Contained Kozs Grade g/t Contained Kozs


AGF Resources(50% attributable to Oxus)

OXUS GOLD PLC PRECIOUS METAL RESOURCES AS OF 1st JULY 2008 (UNAUDITED)JORC Classified

Deposits Cut off Mt Mt Mtg/t Gold Silver Gold Silver Gold Silver Gold Silver Gold Silver Gold Silver Gold Silver

AMANTAYTAU GOLDFIELDSOxides

Asaukak 0.6 1.09 1.4 1.6 49 56 - - - - - Uzunbulak 0.6 0.12 1.9 4.0 7 15 1.94 1.5 2.8 95 175 1.28 1.3 2.1 53 88 Amantaytau Centralny 0.4 0.29 2.4 - 22 - 0.29 2.4 - 22 - 0.31 1.6 - 15 - Sarybatyr 0.6 0.74 2.5 - 59 - 0.89 1.8 - 51 - 0.79 2.2 - 55 - Vysokovoltnoye OB4 0.6 1.22 1.3 34.1 50 1,332 3.63 1.2 27.7 140 3,236 0.59 1.4 22.6 27 430 Vysokovoltnoye OB7 * - - - - - 2.39 1.0 51.8 80 3,980 0.38 0.9 14.7 11 180 Zapadny Amantaytau 0.6 1.23 1.5 - 58 - 0.46 1.1 - 16 - 0.06 1.2 - 2 - AGF - 17 deposits 0.6 - - - - - 7.02 1.4 - 308 - 12.52 1.3 - 535 - 1,966 301 AGF - 7 Exploration Targets 0.6 - - - - - - - - - - - - - - - 453 25,114 Total Oxides 3.59 1.7 197 1,347 17.71 1.3 762 7,447 15.93 1.4 698 698 2,419 25,415

Sulphides

Severny 2.0 0.94 9.0 - 272 - 7.95 8.0 - 2,040 - 0.67 5.7 - 123 - Centralny 2.0 1.99 4.8 - 304 - 2.62 4.5 - 376 - 3.11 4.3 - 428 - Asaukak 0.6 0.10 2.2 3.3 7 10 2.82 1.9 1.8 173 161 1.30 1.9 1.8 78 76 Uzunbulak 0.6 0.06 3.6 5.6 6 10 1.50 1.9 3.6 93 172 8.08 2.8 5.6 736 1,451 Vysokovoltnoye OB4 0.6 3.71 1.3 33.7 151 4,019 7.28 1.1 35.9 265 8,389 3.85 1.1 32.1 133 3,981 Vysokovoltnoye OB7 * - - - - - 7.32 0.9 62.5 204 14,709 6.76 0.8 45.1 164 9,805 AGF - 7 deposits (sulphides only) - - - - - - - - - - - - - - - 5,171 46,683 Total Sulphides 6.79 3.4 740 4,039 29.49 3.3 3,151 23,431 23.78 2.2 1,661 15,313 5,171 46,683

Total Amantaytau Goldfields 10.38 2.8 16.1 937 5,386 47.20 2.6 20.3 3,912 30,878 39.72 1.8 12.5 2,360 16,011 7,590 72,098 OXUS ATTRIBUTABLE - 50% 5.19 2.8 16.1 468 2,693 23.60 2.6 20.3 1,956 15,439 19.86 1.8 12.5 1,180 8,005 3,795 36,049

Soviet/Uzbek Classified Resources (Additional to JORC)

Gold Silver Gold Silver

AGF Sulphides 5,841 314,604 3,745 45,110

OXUS ATTRIBUTABLE - 50% 2,921 157,302 1,873 22,555

Notes : Asaukak and Vysokovoltnoye OB7 resources take into consideration depletion up to 30th June 2008 in line with reserves, but are unaudited until such time as the resource balances can be reconciled with the block models.

Balance of Amantaytau Centralny oxides, and Amantaytau Zapadny oxides as remodelled by Gemcom

Northern Uzunbulak has a Soviet/Uzbek C1 resource of 0.14Mt @ 2.04g/t gold containing 9,000 ounces of gold

Exploration results comprise all Soviet/Uzbek B, C1 & C2 resources, and P1/P2 resources to 50m depth for oxide and 3 deposits for sulphide, not yet JORC resource classified

* Vysokovoltnoye OB7 resources evaluated above a cut-off of 25 g/t AgEq

Inferred Resources Expl Results

Grade g/t 000 ozs 000 ozs

Indicated Resources

Grade g/t 000 ozs Grade g/t 000 ozs

Measured Resources

000 ozs 000 ozs

P1 P2


CIP PLANT: 1.0 mtpa until Q2 2009 @ 1.8 g/t 80% recovery 50,000 oz in total $640/oz – total cash cost

VYSOKOVOLTNOYE: 1 mtpa ongoing @ 1.2 g/t Au / 28 g/t Ag Au 68% recovery / Ag 62% recovery 40,000 oz eq pa $361/oz – average total cash cost over next 7 years, excluding inflation 3:1 average stripping ratio

ASAUKAK: 1 mtpa late 2008 onwards @ 1.18-1.46 g/t 69% recovery 30,000 oz pa $454 /oz - average total cash cost over next 7 years, excluding inflation 5:1 average stripping ratio Estimated pre-production Capex: $5m

AGF Projected Oxide Production Statistics


ENVIRONMENT: Mine constructed and operated to World Bank and Uzbek standards Strict regular monitoring by local agencies have revealed no negative impacts Full time environmental control staff on site

SAFETY: No fatal accidents No loss time injury for over 18 months 4 full time safety officers on site

AGF: Enviromental & Safety


TRAINING: Ongoing training programmes for employees in technical and financial

departments Senior management positions now staffed by locals

SOCIAL: Oxus and AGF recently established University of Westminster Scholarship

Program to sponsor scholarships and English language learning centre in Zarafshan in conjunction with Westminster International University in Tashkent.

Significant contributions made to local social programmes Refurbished two local clinics Installed two heating systems in two local schools

Local labour, suppliers and contractors used where possible

AGF: Training & Social


Approximately 6 kilometres

Oxus mine is 25 km southwest of Muruntau

Muruntau:Worlds Largest Single Open Pit Gold Mines

“a world class resource in the heart of central asia” september 2008 oxus gold plc aim: oxs.l

Documents