SIM - Simmer & Jack Mines, Limited - Simmers agrees to sell TGME

SIM - Simmer & Jack Mines, Limited - Simmers agrees to sell TGME                
Simmer & Jack Mines, Limited                                                    
(Incorporated in the Republic of South Africa)                                  
(Registration number 1924/007778/06)                                            
Share code: SIM                                                                 
ISIN Code: ZAE000006722                                                         
SIMMERS AGREES TO SELL TGME                                                     
Simmer and Jack Mines, Limited ("Simmers") announced today that it has agreed to
sell to Stonewall Mining (Pty) Limited ("Stonewall"), its wholly owned          
subsidiary, Transvaal Gold Mining Estates Limited ("TGME") for R25 million. The 
sale is subject to a number of conditions, which conditions must be fulfilled by
no later than 28 February 2011.                                                 
TGME`s Mpumalanga-based gold mining operations have been under care and         
maintenance since March 2010.  In terms of the agreement, Stonewall has assumed 
all care and maintenance costs as from 1 September 2010, the effective date of  
the transaction.                                                                
Simmers Interim Chief Executive Officer Nico Schoeman said: "Simmers` stated    
priority now is the successful incorporation of the recently-acquired, cash-    
generative Tau Lekoa Mine and exploitation of synergies between Tau Lekoa and   
Simmers` neighbouring Buffelsfontein Mine.  The sale of TGME refines Simmers`   
asset base in support of returning the company to profitability.  The proceeds  
from disposal will assist in reducing our current debt obligations."            
Stonewall Chief Executive Officer Lloyd Birrell said: "We are very pleased to   
have secured TGME. Its operations are at the heart of South Africa`s eastern    
Greenstone Belt, which is enjoying enormous renewed interest from junior gold   
exploration and mining companies such as ourselves."                            
Johannesburg                                                                    
9 September 2010                                                                
For further information, please contact:                                        
James Duncan                    Investor Relations                              
Mobile                          +27 82892 8052                                  
E-mail                          james@rair.co.za                                
SPONSOR                                                                         
RAND MERCHANT BANK (A division                                                  
of FirstRand Bank Limited)                                                      
Date: 09/09/2010 08:00:28 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.