CENTRAL ASIA GOLD AND CHINESE CIC MINING RESOURCES ENTER INTO CO-OPERATION AGREEMENT

Central Asia Gold AB (publ), has entered into an co-operation agreement with
CIC Mining Resources Limited ("CIC"), a leading Chinese mining investment
company with Chinese and global investments, and with its head office in
Beijing, China. (www.cicresources.com) 

The key strategic elements that the CIC co-operation will provide to CAG are
support in the technical and geological analysis, including identifying cost
efficient high quality Chinese equipment and manufacturing partners. CIC will
also assist in identifying potential acquisition targets both in China and
globally. 

The key areas in the co-operation in summary:

• access to highly desirable Chinese gold mine assets both in China and globally

CIC has an unique position as some of China's leading private mine owners hold
stock positions in CIC. CIC is providing a pipeline of opportunities both in
China and globally for their clients, and are seeking an exclusive strategic
partner in the gold sector, with CAG being a natural fit for their shareholder
wealth growth. 

• access to the network of operations, technology and equipment manufacturing
companies in the Chinese gold mine industry 

CIC will help co-ordinating the efforts to leverage the cost efficient
technology and manufacturing available with Chinese partners. CIC will help in
finding high quality and cost efficient solutions for CAG as well as financing
of build-up of potential infrastructure. 

• make available its staff resources in Beijing, China and global mine
development capabilities 

CIC has well-staffed, in-house comprehensive geotechnical department with
extensive software resources, process engineering department and public company
compliance, including expertise in listing processes. CIC is conducting
restructuring for future listings on designated main stock exchange boards for
their major Chinese mine owners. CIC can also facilitate and fully fund a
Secondary Listing of CAG share on a main board, if decided in the future. 

Preston Haskell, CEO Central Asia Gold states: 
"This agreement will deliver relationships based on market intelligence,
positioning CAG early for highly desirable acquisitions in quality gold
projects not only in China but globally. It will deliver key support elements
in assessing and negotiating technical support and infrastructure development.
We will by this have a strong partner with gold mine assets on a major gold
market and that we thereby have the opportunity to grow CAG operations
significantly, while mitigating company- and country risk." 



For more information, please contact:

Preston Haskell, President & CEO, tel: +46 768 90 55 49 
e-mail: preston.haskell@centralasiagold.se Website: www.centralasiagold.se,
Post- och besöksadress: Engelbrektsplan 2, 4 tr, 114 34 Stockholm 


Lars Guldstrand, Chairman of the Board, tel: +46 705 28 81 81 
e-mail: lars.guldstrand@centralasiagold.se 

For more information about CIC Mining Resources Ltd, please visit the company´s
website 
www.cicresources.com

Central Asia Gold AB is a Swedish mining company focused on gold production and
exploration in Russia in the central parts of Asia. The gold production was
initiated in late January 2005 and the assets were as at end of 2008 estimated
to encompass some 800,000 troy ounces (1 troy ounce = 31.1 g) of C1/ C2 Russian
gold reserves. 


Cautionary Statement: Statements and assumptions made in this report with
respect to Central Asia Gold AB's ("CAG") current plans, estimates, strategies
and beliefs, and other statements that are not historical facts, are
forward-looking statements about the future performance of CAG. Forward-looking
statements include, but are not limited to, those using words such as "may",
"might", "seeks", "expects", "anticipates", "estimates", "believes",
"projects", "plans", strategy", "forecast" and similar expressions. These
statements reflect management's expectations and assumptions in light of
currently available information. They are subject to a number of risks and
uncertainties, including, but not limited to, (i) changes in the economic,
regulatory and political environments in the countries where CAG operates; (ii)
changes relating to the geological information available in respect of the
various projects undertaken; (iii) CAG's continued ability to secure enough
financing to carry on its operations as a going concern; (iv) the success of
its potential joint ventures and alliances, if any; (v) exchange rates,
particularly between the Russian rouble and the U.S. dollar. In the light of
the many risks and uncertainties surrounding any gold production and
exploration company at an early stage of its development, the actual results
could differ materially from those presented and forecast in this report. CAG
assumes no unconditional obligation to immediately update any such statements
and/or forecasts.