ASX / MEDIA ANNOUNCEMENT

28 May 2015

Altyn Tas: 3 Year Licence Renewal Received

Altyn Tas Renewal

Central Asia Resources Limited (the Company) (ASX: CVR) is pleased to announce that the Ministry of Investments and Development of Kazakhstan has issued an Amendment (registration number #4586) covering the Company's 90% owned Altyn Tas exploration licence (Exploration Licence 176). The Project is renewed until April 2018 and has an updated expenditure commitment of US$235,000 over this 3-year period. This allows the Company to move forward with exploration and development of the Altyn Tas, Kepken and Kengir deposits.

The Altyn Tas licence contains three gold deposits (Altyn Tas, Kepken and Kengir), with previously reported resources of 30 million tonnes at 1.2 grams/tonne gold, containing 1.16 million ounces of gold, these resource estimates being subject to an updated estimate which are expected to report lower overall contained metal but with a higher degree of confidence. Development options include open pit mining of Altyn Tas and Kepkin with a shared Carbon-in- Pulp ("CIP") process facility, or processing at the nearby CIP plant owned by the Altyn Almas Company.

Corporate Funding

The Company is still in discussions with various parties in regard to the possible sale of its Dalabai Gold Project in Kazakhstan, which remains on Care and Maintenance. Other sources of debt and equity funding are also being considered and an update will be issued in due course.

END

For further information contact:

Peter Thompson
Managing Director
Central Asia Resources Limited
Ph: (+61) 417 979 169

(+7) 771 507 2936 [email protected]
Jason Campbell
Company Secretary
Central Asia Resources Limited
Ph: +61 8 6489 0600

C/o- 311-313 Hay St, Subiaco, Western Australia 6008

PO Box 8282, Subiaco, Western Australia 6008

P: +61 8 6489 0600 F: +61 8 9388 3701

ABN: 13 113 816 158

ASX / Media Announcement

Altyn Tas Licence Renewal

ABOUT CENTRAL ASIA RESOURCES

Central Asia Resources Limited (ASX: CVR) is focused on exploration, development and production of gold in Kazakhstan. The Company holds two license areas in Kazakhstan. These include four deposits with JORC Resources, all of which have exploration upside, and areas of significant prospectivity based on extensive exploration during Soviet times. The license areas are within recognised gold belts, and close to operating mines and infrastructure. Trial mining commenced at the first project, Dalabai in February 2012 using shallow open pit mining and heap leach technology, with a further 1,040oz produced in late 2013 from leaching of stockpiled material.

Altyn Tas Project

The Altyntas project is located 500km north-west of Almaty in the Tien Shen gold province, and 40km from the Akbakai gold mine. The Altyn Tas project includes gold deposits at Altyn Tas, Kepken and Kengir. Resources for the Altyn Tas deposit are quoted at 13.9 million tonnes at 1.34g/t gold for 598,000oz, of which 25% is Indicated and 75% is inferred. An updated 2014 resource estimate is in preparation and is expected to report a smaller overall resource but with a greater proportion in the Indicated category.

Dalabai

The Dalabai Project is located in the Chu Ili gold best in Southern Kazakhstan, approximately 2.5hrs drive from the
country's largest city, Almaty. It is well serviced logistically with proximal main road and rail infrastructure. The project was
acquired by Central Asia Resources in 2008 with the current plant built in 2011. Trial mining commenced in Dalabai in
February 2012 using shallow open pit mining and simple heap leach extraction through November 2012.

Competent Persons Statement

The information in this report that relates to Exploration results, Mineral Resources or Ore Reserves is based on
information compiled by Peter Thompson who is employed by Central Asia Resources Limited. Mr. Thompson is a Member of The Australasian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Thompson consents to the inclusion in the report of the matters based on information in the form and context in which it appears.
Statements regarding Central Asia Resources' plans with respect to its mineral properties are forward-looking statements. There can be no assurance that Central Asia Resources' plans for development of its mineral properties will proceed as currently expected. There can also be no assurance that Central Asia Resources' will be able to confirm the presence of additional mineral deposits, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of Central Asia Resources' mineral properties.

Disclaimer

Certain statements included in this announcement may constitute forward looking information. This information is based

upon a number of estimates and assumptions made by the Company in light of its experience, current conditions and expectations of future developments, as well as other factors that the Company believes are appropriate in the circumstances. While these estimates and assumptions are considered reasonable, they are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirements, commodity prices, exploration, acquisition, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes. Forward-looking information is no guarantee of future performance and, accordingly, investors are cautioned not to put undue reliance on forward -looking information due to the inherent uncertainty therein. Forward-looking information is made as at the date of this announcement and the Company disclaims any intent or obligation to update publicly such forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by law.

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