Settlement with Oxus Gold

RNS Number:3742R
Eurogold Limited
02 April 2008




                                    EUROGOLD

                                 L I M I T E D

                               (ACN 009 070 384)





02 April 2008                                 ASX & AIM Symbol "EUG"



Settlement with Oxus Gold Plc


Further to our announcement of 19 February 2008, and in accordance with the
agreement reached with Oxus Gold Plc ('Oxus"), Eurogold Limited ("Eurogold")
advises that it has received an amount of A$5,060,000 from Oxus.


Eurogold expects to receive a further A$1,720,000 on or before 6 May 2008 under
the terms of settlement with Oxus.


On or before 21 May 2008 Oxus is to issue Eurogold Oxus shares in accordance
with the terms of settlement. This will complete the settlement.



IMF Australia (Limited)


In accordance with the agreement entered into with IMF (Australia) Limited
("IMF") under which IMF funded the Australian Federal Court proceeding against
Oxus, Eurogold will pay IMF 30% of the total proceeds of the settlement.


Resource Invest LLC


In July 2007 Eurogold disposed of its Ukrainian gold mining assets to Resource
Invest LLC ("RIL") for US$5 million. US$2 million has been received and the
balance of US$3 million is due from RIL upon a regulatory milestone relating to
the advancement of the Saulyak Gold Project being met.


Upon receipt of the US$3,000,000 from RIL, settlement with Oxus and after
payment to IMF, the Company's cash position will be approximately A$10,000,000.
The Directors' continue to pursue new investment opportunities.


Peter Gunzburg

Chairman





For further information, please contact:


Peter Gunzburg - Managing Director - Ph: [phone], 
Email: [e-mail]


RFC Corporate Finance Ltd acts as Eurogold's Nominated Adviser
Contact: Stuart Laing - Ph: [phone], Email: [e-mail]



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

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