RNS Number:1951B
Marakand Minerals Limited
26 July 2004


                 MARAKAND DOUBLES ITS SILVER RESOURCE POTENTIAL

London, 26 July 2004

Marakand Minerals Limited ("Marakand") wishes to announce that a
Co-operation Agreement has been signed with the State Committee of Geology of
the Republic of Tajikistan ("Tajik Geology"), allowing Marakand exclusive-rights
to proceed with exploration and evaluation of the high-grade Akjilga Silver
Deposit and surrounding exploration area. Combined with the Khandiza Deposit in
Uzbekistan, Akjilga will more than double Marakand's silver resource potential.

On instruction from the Tajik Government, Marakand and Tajik Geology are
currently finalising licensing documentation.

Akjilga is located in Eastern Tajikistan between the towns of Khorog and Murgab
near an ancient Samanid (8th - 9th century) mining settlement.

Tajik Geology estimates resources at Akjilga to contain over 67 million ounces
silver, with average grades of over 2000 g/t.

Akjilga - Resource Grades (Soviet Classification)
Category   Resource       Silver       Copper         Antimony        Bismuth
             (t)        (g/t)               %                %              %
C2          168,700        2,190         0.82             1.30           0.13
P1          819,600        2,099         0.69             0.68           0.11
--------     --------     --------     --------         --------       --------
   TOTAL    988,300        2,114         0.71             0.78           0.11

Akjilga - Contained Metal (Soviet Classification)
                        Silver        Copper         Antimony          Bismuth
                        (M oz)          (t)              (t)              (t)
C2                       11.9         1,380             2,190             214
P1                       55.3         5,626             5,549             908
-------- --------      --------      --------          --------        --------
 TOTAL                   67.2         7,006             7,739           1,122
Source: Tajik Geology

Alasdair Stuart, Marakand CEO, commented, "Akjilga is a unique opportunity and
an exciting new exploration and development prospect for Marakand, which would
both expand and diversify our Central Asian resource base. A team from Marakand
is already working with Tajik Geology on finalising licensing documentation
whilst evaluating existing exploration data."

Khandiza and Akjilga Combined Resource Potential
Deposit    Resource            Silver     Zinc      Lead     Copper      Gold
           classification
                               (M oz)   (000 t)   (000 t)   (000 t)   (000 oz)
Khandiza   Measured &            60.2     1,075       525       129      142.5
           Indicated *
Akjilga    C2 & P1 (Soviet)      67.2         -         -         7          -
* Khandiza is classified under JORC (Joint Ore Reserves Committee of the
Australian Institute of Mining and Metallurgy)

Khandiza Feasibility Study Update

Marakand also wishes to report that considerable progress has been made towards
completion of its Feasibility Study on the Khandiza zinc/silver deposit in
Uzbekistan. The Board decided it appropriate to conduct a final mineral
processing review by the end of August, and to use this time to further advance
the environmental impact assessment of the project. Independent specialist
consultants are conducting both of these tasks.

On completion, the feasibility study report will be submitted to both the
Marakand Board and the Uzbek Government in September, for final approval to
proceed with project funding and construction. This funding phase is still
anticipated in the fourth quarter 2004.

Marakand Minerals is a mining exploration and development company focused in
Central Asia, and listed on the Alternative Investment Market (AIM) in London,
ticker symbol MKD.L.

Ends.

For further information, please contact:
Joanna Solino                           Alex Buck
Marakand Minerals                       Buck Communications
Tel: 020 7907 2000                      Tel: 07932 740 452




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

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