Road Town, Tortola, British Virgin Islands (2 September 2009).

In accordance with the announcement of the amended option scheme made on 3 July 2009, the Board announces that the following options were granted to directors on 1 September 2009.

The options will vest after three years.

Under the terms of the amended scheme, the exercise price of the options relate to the market price at the date of grant, using the 15 trading day moving average of the share price prior to grant.  However, in view of the investment by CNMIM announced on 13 July 2009, the Board has in this instance decided to grant the first options under the amended scheme at a price of 25p, being the same price as the shares subscribed for by CNMIM, which is 23% above the 15 trading day moving average of the share price prior to grant.

About the Chaarat Gold Project

The Chaarat project is situated within the Middle Tien Shan Mountains of Kyrgyzstan which form part of the Tien Shan gold belt.  At the completion of the 2008 exploration season a mineral resource of 3.34Moz at a grade of 4.30 g/t gold (JORC compliant in the Indicated and Inferred categories) had been delineated. The Company's exploration programme is aimed at increasing the confidence levels in the resource through infill drilling through down-dip and along-strike extension drilling whilst developing a pre-feasibility study to demonstrate the economic viability of the deposit.

About Chaarat Gold Holdings or the Company

Chaarat Gold Holdings is an exploration company founded for the purpose of developing the Chaarat License Area. Chaarat was admitted to AIM on 8 November 2007.

Disclaimer

This press release includes forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond Chaarat's control that would cause the actual results, performance or achievements of Chaarat to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Chaarat's present and future business strategies and the environment in which Chaarat will operate in the future. Any forward-looking statements speak only as at the date of this document. Chaarat expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this document to reflect any change in Chaarat's expectations with regard to these or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, the events described in the forward-looking statements in this press release may not occur either partially or at all.  

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