PGL - Pallinghurst Resources (Guernsey) Limited - Acquisition By The Company And

PGL - Pallinghurst Resources (Guernsey) Limited - Acquisition By The Company And
Certain Strategic Equity Partners Of A 40% Interest In Richtrau No. 123         
(Proprietary) Limited Declared Unconditional                                    
Pallinghurst Resources (Guernsey) Limited                                       
Registration Number: 47656                                                      
(Incorporated in Guernsey)                                                      
ISIN: GG00B27Y8Z93                                                              
BSX share code: PALLRES                                                         
JSE share code: PGL                                                             
("PRGL" or "the Company")                                                       
ACQUISITION BY THE COMPANY AND CERTAIN STRATEGIC EQUITY PARTNERS OF A 40%       
INTEREST IN RICHTRAU NO. 123 (PROPRIETARY) LIMITED DECLARED UNCONDITIONAL       
Shareholders are referred to the announcement released on SENS on 20 August     
2008, in which the Company declared that, subject to the fulfilment of certain  
conditions precedent, it had acquired together with certain strategic equity    
partners, a 40% interest in Richtrau No. 123 (Proprietary) Limited              
("Magazynskraal") and are advised that pursuant to the unconditional approval of
the Department of Minerals and Energy, the acquisition of Magazynskraal has been
declared unconditional in accordance with its terms.                            
17 December 2008                                                                
Guernsey                                                                        
Investment bank and sponsor               Legal advisers in South Africa        
(Investec Corporate Finance Logo)         (ENS logo)                            


Investment adviser                                                              
(Pallinghurst Resources LLP logo)                                               
Pallinghurst Resources LLP                                                      


Date: 17/12/2008 10:00:20 Supplied by www.sharenet.co.za                     
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