RNS Number:6515U
Trans-Siberian Gold PLC
27 January 2004

The following statement has been released by Trans-Siberian Gold plc and is
distributed in London by Bankside Consultants Ltd on behalf of the Company.
Contact:  Keith Irons, 020 7444 4155.




                      Revised resource estimate at Veduga
                          Increase in total resources


LONDON: 27 January 2004 -  Trans-Siberian Gold plc, ("Trans-Siberian") (TSG.L)
reports that recent drilling at its Veduga gold project in Siberia and a
re-evaluation of the resource base of its Asacha project in Kamchatka project
has resulted in a 7% increase in its resources to 3.2 million ounces of
contained gold.

The Company announced on 12 December 2003 some high grade gold intercepts at its
wholly owned Veduga property in central Siberia and its intention to complete a
resource update for Veduga in January 2004.

This exercise has now been completed with the result that total resources at
Veduga (measured, indicated and inferred to JORC standards) have increased to
14.1 million tonnes at an average grade of 5.09 g/t from 13.5 million tonnes at
4.92 g/t.  Resources at Veduga now amount to 2,306,000 oz, an increase of
174,000 oz or 8.2%.

Using a 1.6 g/t cut-off, which better reflects an economic cut-off at the
current gold price, total resources would increase by 1 million tonnes to 15.1
million tonnes at 4.86 g/t containing 2,367,000 oz, an increase of 61,000 oz or
nearly 3%.

TSG also reports an increase in the resources attributed to the Asacha property
in Kamchatka. The revised total is 677,000 oz, an increase of 42,000 oz or 6.6%
with a revised grade of 21.9 g/t, up from 15.2 g/t.

Overall the Company's gold resource bank has increased by 7.2%, to 3,217,000 oz
today from 3,001,000 oz at the time of the Company's listing on AiM last
November, as shown in the table below:


  Property        Cut-off       Resources         Resources         Increase
                   (g/t)          at IPO            Jan 04            (%)
                                   (oz)              (oz)

Asacha             6.0            635,000           677,000            6.6
Rodnikova          4.5            234,000           234,000             -
Veduga             2.0          2,132,000         2,306,000            8.2
TOTAL                           3,001,000         3,217,000            7.2



Veduga

The Veduga resource increase resulted from 4,450 metres of drilling in the main
zone orebodies, comprising 3,500 metres of reverse circulation drilling and 950
metres of diamond drilling. For every metre drilled 39 oz of gold were
discovered at a discovery cost of just over $2 per oz.

The measured and indicated resources have increased by 34% and 10% respectively
(together to 1,307,000 oz from 1,103,000 oz), thereby further underpinning the
confidence level of the resources.

The increase in the average grade from 4.92 g/t to 5.09 g/t reflects higher
grades encountered in two of the satellite orebodies targeted in the recent
drilling and increasing grade in OB1 commensurate with upgrades in resource
classification.

At Veduga, 1,638,000 oz or 71% of the resources are contained in one central
orebody (OB1), with the balance in several satellite orebodies.

As intimated in the 12 December 2003 announcement an intensive diamond drilling
programme is ongoing in the Veduga mining licence area. As of 24 January 2004,
two contractors' rigs had drilled 2,979 metres in satellite orebodies of the
main zone. A third rig has just started to drill. No further assay results from
this drilling are yet to hand.

Drilling with a fourth rig has started in the Veduga exploration licence area
(540 sq.km.) to test  anomalies identified by earlier fieldwork. In the first
phase of drilling nine distinct targets will be tested. As of 24 January 2004
571 metres and 3 holes had been completed in two target areas to the south of
the main zone. The first two holes, targeted to test a prominent geophysical
anomaly (Strelka), intersected extensive sulphide type mineralisation but did
not (in the one hole for which there are assays) carry any significant gold
grade.

The third hole (DDH 503/ 210 metres) in an area known as Interessny intersected
a wide (155 metres) unit of black sulphidic carbonaceous-chloritoid shales that
showed microscopic gold in thin section. Assaying is being expedited and results
will be known shortly. The Interessny zone lies on the southern flank of the
main Veduga ore zone.

A fifth rig, a new Boart Longyear LM55D adapted for working in the taiga, will
be deployed from March 2004 in the exploration licence area.

An internal scoping study of the Veduga project has been in preparation for the
past year and is scheduled for completion in February. This will set the basis
for the commissioning of a Bankable Feasibility Study (BFS) and a Russian TEO,
required by the Russian authorities as part of the permitting and environmental
clearance process.

Asacha

The increase in the Asacha resource results from a new resource estimation by
AMC Consultants (AMC). AMC were commissioned by the Company to undertake the
resource and mining components of the Bankable Feasibility Study  (BFS) of the
Asacha/Rodnikova project, which is  currently close to finalisation. AMC have
utilised the geological interpretation of the Asacha veins developed previously
by AMEC, but have re-estimated the grade following a review of AMEC's previous
work and undertaking further geostatistical evaluation of the available
database.

The BFS for the combined Asacha/Rodnikova project is scheduled for completion by
the end of February 2004. The lead engineer is MDM, the South African-based
process engineering company.

Details of both the Asacha BFS and the Veduga Scoping Study will be announced
when completed.


Contacts:

Jocelyn Waller,
Managing Director, Trans-Siberian Gold  plc


Tel: 01223 265 761/ Mobile: 07778 164 376 / 01223 265 765
Email:  jocelyn.waller@trans-siberiangold.com


Keith Irons, Bankside Consultants

Tel: 020 7444 4155/Mobile: 07885 356 639 / 01256 389 298
Email:  keith@bankside.com


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