NLG Arria Nlg Ords

    23 November 2004

                     NELSON RESOURCES LIMITED ANNOUNCES
                  GRANT OF STOCK OPTIONS TO SENIOR OFFICERS

Nelson Resources Limited (TSX / AIM: NLG), a leading independent exploration and
production company operating in Kazakhstan, today announced that is has granted
a total of 18,920,541 stock options (2.2% of the Company's outstanding share
capital) to senior management under the Company's stock option plan as approved
by the shareholders. The options are for the Company's common shares with a par
value of USD$0.01, and were granted on 17 November 2004 at an exercise price of
CAD$2.40. 

The options were granted pursuant to the successful renegotiation of contracts
with Nelson's senior executives, including the Company's Chief Executive Officer
and Chairman of the Board, E. Nick Zana, and its President Baltabek Kuandykov.

The options granted to the Company's executive directors are as follows:

                                         Exercisable
Name              No. of Options    From             Until
--------------------------------------------------------------------------------

Nick Zana             6,755,419    1 January 2005   Earlier of 1 January 2010 
                      4,310,180    1 January 2006   and 180 days after dismissal
                      1,864,942    1 January 2007   from directorship/employment
                     ----------
                     12,930,541
--------------------------------------------------------------------------------

Baltabek Kuandykov    1,000,000   17 November 2005  Earlier of 17 November 2009 
                      1,000,000   17 November 2006  and 180 days after dismissal
                      1,000,000   17 November 2007  from directorship/employment
                     ----------
                      3,000,000     
--------------------------------------------------------------------------------

Of the options granted to Mr. Zana, 2,445,239 are in excess of the total number
of options authorised under the current stock option plan, and have therefore
been granted pending approval by the shareholders at the next Annual General
Meeting. These options will not be exercisable until such approval is obtained.

For further information, please contact:
----------------------------------------

Fred Hodder, CFO                Tel: 020 7495 8908
Nelson Resources Limited        fhodder@nelsonresources.co.uk

Ann-marie Wilkinson / 
  Nick Lambert                  Tel: 020 7861 3232
Bell Pottinger Corporate & Financial (London)



END

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