Multiple Gold Targets Identified at the Gezart Property in the Kyrgyz Republic

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Vancouver, British Columbia, February 23, 2006 (TSX Venture: EMX) – Eurasian Minerals Inc. (the “Company” or “EMX”) is pleased to announce that 2005 exploration on the Gezart property in the southwestern Kyrgyz Republic has led to the delineation of drill-ready gold target at the Bulat prospect. At the Kapchigai-Bulat-Maleran Zone trenching and mapping identified near-surface gold anomalies with bulk tonnage mineral potential. In addition, a new, intrusion-related style of mineralization was identified.

Property Overview

EMX’s 336 square kilometer Gezart exploration license occurs in the Southern Tian Shan gold belt. The property is underlain by the Tegermach thrust fault that separates lower plate Carboniferous-aged calcareous siltstone, sandstone and limestone from upper plate Silurian-aged terrigenous siliciclastic rocks. The lower plate is formed by a thick limestone sequence with an upper package of limey siltstone that host mineralization (Tolubai suite). Carboniferous to Permian-aged granite and granodiorite intrude the upper and lower plate rock packages.

Three types of gold mineralization were explored at Gezart in 2005:

• gold-arsenopyrite-quartz veinlets in the upper plate rocks of the Kapchigai-Bulat-Maleran Zone,
• gold-antimony mineralization along the Tegermach thrust and in brecciated lower plate Tolubai suite
• intrusion related gold mineralization that was discovered at the Orgatash prospect.

Kapchigai-Bulat-Maleran Zone Gold Target

The Kapchigai–Bulat-Maleran zone is defined by the northeast alignment of regional structure (Abshir fault), historic gold-antimony prospects, and EMX gold-in-soil anomalies that extend for approximately 5.5 kilometers (see EMX news release dated March 7, 2005). The gold is coarse grained, and hosted by thin quartz-arsenopyrite veins and veinlets in upper plate fracture zones. Twenty-five EMX trenches totaling 1003 meters were cut and chip channel sampled. Generally, the samples were taken to approximate a true thickness across the vein trends. A total of 134 meters of the sampling (13.4% of the total) returned results above a 0.1 ppm gold cutoff and minimum 2 meter width.

The exploration target for 2006 are zones of dense veinlet and stockwork development that have bulk
tonnage gold potential.

Bulat Gold Target

At the Bulat prospect gold occurs with antimony mineralization in brecciated Tolubai limey siltstones in addition to the upper plate mineralization described in the section above. The gold mineralized horizon is at shallow depth, occurring from approximately 0 to 150 meters below, and dipping with the topographic surface. Bulat was originally exploited for antimony by the Soviets in the 1950s as a small scale underground mine. The Soviets selectively sampled for gold in cross-cuts on two levels before mining was discontinued. Seven intervals of the best underground chip-channel samples returned gold results of 49 m @ 1.2 ppm, 10 m @ 1.88 ppm, 35 m @ 1.21 ppm, 13.2 m @ 1.95 ppm, 23.5 m @ 2.5 ppm, 15.7 m @ 4.75 ppm, and 16 m @ 2.81 ppm. Although cross cut sampling implies an approximate true width interval, the mine workings are not currently accessible, and consequently the results have not been independently verified by EMX. However, the Soviet sampling results are considered to be reliable and relevant.

Additional detailed mapping in 2006 will focus on identifying the intersection of the Tegermach thrust zone and Tolubai rocks with crossing sheeted fracture zones. The Tolubai breccias & siltstones are good host rocks for gold mineralization, and represent excellent near-surface, bulk tonnage drill targets.

Orgatash Gold Target

EMX found a new style of gold mineralization at the Orgatash prospect late in the 2005 field season. Sampling in trenches identified significant gold intercepts in granite and in its contact aureole (hornfels). EMX cut two trenches spaced at 270 meters in the contact zone of a Permian granodiorite and upper plate sandstone and siltstone rocks. The southern trench exposed granodiorite with disseminated pyrite and pyrrhotite and the northern trench uncovered hornfelsed silicified sandstone and siltstone containing disseminated pyrite. The southern granodiorite trench starts and ends in anomalous gold mineralization, and returned rock chip sample gold assay results summarized below.

• at a 0.1 ppm cutoff - 0.66 ppm Au over 82 m, 0.64 ppm over 7 m and 0.86 ppm over 4.5 m.
• at a 0.5 ppm cutoff - 1.1 ppm Au over 16 m, 0.8 ppm Au over 14 m, 0.97 ppm Au over 4 m.
• a maximum of 2.8 ppm Au over 2 m.
The northern trench in hornfels report rock chip sample gold assay results of:
• at a 0.1 ppm cutoff - 0.71 ppm Au over 50 m and 0.24 ppm Au over 9 m.
• at a 0.5 ppm cutoff - 0.95 ppm Au over 30 m.
• a maximum of 1.7 ppm Au over 2 m.

The EMX trenches outline a northwest trending mineralized zone with quartz veining, sulfides, and shear zones that remain open for extension. The host rock, alteration and grade distribution suggest that the Orgatash prospect fits the intrusion-hosted style of gold mineralization. In 2006, EMX will focus on establishing gold grade continuity along strike, as well as on extending the mineralized zone at locations where it remains open.

Comments on Sampling, Assaying, and QA/QC

EMX’s rock chip geochemical samples were collected in accordance with accepted industry standards. The samples were submitted to the ISO 9001:2000 registered and ISO 17025 accredited ALS Chemex laboratory in Vancouver, Canada or the ISO 9002 certified Alex Stewart (Assayers) Limited laboratory in Karabalta, Kyrgyz Republic for sample preparation and analysis. Gold was analyzed by fire assay with an AAS or ICP finish. Multi-element analyses were determined at Chemex’s Vancouver laboratory by ICP MS/AAS techniques. As standard procedure, the Company conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks, field duplicates, and umpire laboratory check assays.

Mr. Dean Turner, P.Geo., a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has reviewed and verified the technical mining information contained in this news release.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666 

Kim C. Casswell
Corporate Secretary
Phone: (604) 688-6390

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Eurasian Minerals Inc. Actual results may differ materially from those currently anticipated in such statements.