Oxus Gold (OXS) – Interim Results

Interim Results for the twelve months ended 30 June 2008

Highlights
• Annual gold production increased by 8.5% to 80,203 ounces *
• Annual gold sales increased by 13.8% to 74,147 ounces *
• Profitability restored at both the operational (Amantaytau Goldfields) and corporate levels during the 6 month period ended 30 June 2008
• Bankable feasibility study completed on the underground sulphides project and lead bank mandated to arrange the project finance
• Placing of convertible loan notes raises cash for working capital
• Outstanding litigation and arbitration settled

* 50% attributable to Oxus.

Richard Wilkins, Chief Executive Officer said: “Profitability has been restored at both the operational (AGF) and corporate levels over the last 6 months and, had AGF been able to refine its silver doré on a timely basis, cash flow and profitability would have been further improved.”

“AGF plans to quadruple gold production over the next two to three years to over 300,000 ounces per annum, and to produce at a significantly lower average total cost per ounce than at present. This will be achieved through the development of the underground mine, scheduled for first production in late 2009.”

Off the back of this announcement the share price has increased 17% from 11.75p to 13.75p