Eurasia Mining Plc announced that Rosendra has approved the Definitive Feasibility Study for the Monchetundra project in the Kola peninsula, northwest Russia (the "Monchetundra DFS"). In parallel, management changes have been made to reflect the Company's focus on the possible sale of its assets in Russia, including the Monchetundra project. With the completion of the Monchetundra DFS, the two open pit mines, with their related plant and facilities, are ready for construction work to commence.

While company have an EPCF agreement with Sinosteel in place, the Board does not believe it is appropriate to commence construction immediately due to the ongoing sale process of its Russian assets. It is expected that counterparties will have their own plans for future development, and it is important to leave such options open.