Oriel Opens Trading on AIM

RNS Number:4003W
Oriel Resources PLC
11 March 2004







Press Release

11 March 2004

                    Oriel Resources plc opens trading on AIM

Shares in Mining group Oriel Resources start trading today, the company having
been admitted to the Alternative Investment Market of the London Stock Exchange.
The company has raised # 40.56 million and, after placing 62.4 million shares of
1p each at a market price of 65p per share, the group will initially be valued
at #104.5 million. The Nominated Adviser and broker to the company is Canaccord
Capital (Europe) Limited.

Oriel was formed in July 2003 by Sergey Kurzin and Stephen Dattels for the
purpose of acquiring and developing early and advanced stage mineral deposits in
the Russian Federation and other republics of the former Soviet Union.

Dr Sergey Kurzin, executive chairman, has over ten years experience in the
international mining industry. He will use a wide network of professionals to
acquire mining propertiesfor the company in Russia and Central Asia. He will be
assisted by Stephen Dattels, who has been involved in a number of successful
mining ventures. They include Barrick Gold Resources Corporation, International
Gold Resources Corporation and Caledon Resources PLC.

So far Oriel has interests in four projects.

The first, a 51% interest (with the right to increase to 90%), is a nickel
project called Shevchenko in Kazakhstan, where the exploration phase is largely
complete. Given the current high demand and shortage of supply for nickel the
company aims to bring the project into production in the shortest practicable
time.

Oriel has an interest in three gold projects. At Urup in the Kurile Islands,
north of Japan, it has 89% (with theright to increase to 95%) control over a 70
square kilometre concession where a zone of bonanza grade gold mineralisation
has been outlined by trench sampling. The company has also acquired the option
to purchase a 95% interest in the Togoluk deposit in Kyrgystan. It plans to
explore for additional mineralisation along strike of the existing resource.
Finally, Oriel has acquired a 14% interest in the Varinskoye gold-copper skarn
deposit in northern Kazakhstan.

Sergey Kurzin said today: "We have done an excellent job in a very short time
forming the company, acquiring properties and bringing Oriel to the market. My
team in London, Russia and Kazakhstan is totally dedicated to achieving results
and to creating the best possible value for the company and its shareholders."

For further information contact:
Sergey Kurzin Stephen R Dattels
Chairman and CEO Managing Director
Tel: [phone]




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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