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GDO - Gold One International Limited - AGC Acquisition by the Chinese Consortium Unconditional Gold One International Limited Registered in Western Australia under the Corporations Act, 2001 (Cth) with registration number ACN: 094 265 746 (Registered in South Africa as an external company with registration number 2009/000032/10) ISIN: AU000000GDO5 Share Code on the ASX/JSE: GDO OTCQX International: GLDZY ("Gold One" or the "company") AGC Acquisition by the Chinese Consortium Unconditional Gold One International Limited announces that as per the Notice of Initial Substantial Holder released on 21 April 2011, and referred to in the announcement released by Gold One on 16 May 2011, Baiyin Non-Ferrous Group Co Limited ("Baiyin") had agreed with Navada Trading (Proprietary) Limited ("Navada"), a subsidiary of African Global Capital (SA) (Proprietary) Limited ("AGC") to acquire the 17.64% shareholding in Gold One (142,689,350 Gold One shares) (the "AGC Shares") from Navada, for A$75,625,355.50, being A$0.53 for each Gold One share (the "AGC Acquisition"). Baiyin has nominated that a wholly owned subsidiary of Baiyin, Baiyin Precious Metals Investment Ltd ("BPM"), acquires the AGC Shares. Gold One is pleased to announce it has been informed that the conditions precedent to completion for the AGC Acquisition have been fulfilled. To accommodate certain administrative arrangements for the payment and transfer of the AGC shares, Baiyin and AGC have agreed to finalise the completion of the transaction by 15 July 2011, and amend the terms of their agreement accordingly. Background to AGC Acquisition Gold One announced on 16 May 2011 that it had entered into an agreement to implement a series of interdependent transactions with BCX Gold Investment Holdings Ltd ("BCX Gold"), a company representing a consortium of investors from the PRC ("Consortium"), which will include Baiyin, the China-Africa Development Fund and Long March Capital Group. The Consortium is seeking to become the long-term strategic partner of Gold One and its major shareholder. The AGC Acquisition becoming unconditional signifies a major step in the completion of this process. Baiyin Precious Metals Investment Ltd has an understanding with BCX Gold to transfer the AGC Shares to BCX Gold. Issued by Gold One International Limited www.gold1.co.za Johannesburg 1 July 2011 JSE Sponsor Macquarie First South Advisers (Pty) Limited For further information contact: Neal Froneman President and CEO +27 11 726 1047 (office) +27 83 628 0226 (mobile) neal.froneman@gold1.co.za Ilja Graulich Investor Relations +27 11 726 1047 (office) +27 83 604 0820 (mobile) ilja.graulich@gold1.co.za Carol Smith Investor Relations +27 11 726 1047 (office) +27 82 338 2228 (mobile) carol.smith@gold1.co.za Derek Besier Farrington National Sydney +61 2 9332 4448 (office) +61 421 768 224 (mobile) derek.besier@farrington.com.au About Gold One Gold One is a gold producer listed on the financial markets operated by the ASX Limited and the JSE Limited, issuer code GDO. Its flagship operation is the newly built shallow Modder East mine on the East Rand, some 30 kilometres from Johannesburg. Modder East is the first new mine to be built in the region in 28 years and distinguishes itself from most of the other gold mines in South Africa owing to its shallow nature (300 metres to 500 metres below surface). To date Modder East has provided direct employment opportunities for over 1,200 people. Gold One also owns the nearby existing Sub Nigel mine, which is used primarily as a training centre in the build-up of Modder East to full production. Gold One has an issued share capital of 808, 848,230 shares. Date: 01/07/2011 07:05:01 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.
