CRD - Central Rand Gold Limited - Options granted to executives

CRD - Central Rand Gold Limited - Options granted to executives                 
Central Rand Gold Limited                                                       
(Incorporated as a company with limited liability under the laws of             
Guernsey,                                                                       
Company Number 45108)                                                           
(Incorporated as an external company with limited liability under the           
laws of South Africa,                                                           
Registration number 2007/0192231/10)                                            
ISIN: GG00B24HM601                                                              
LSE share code: CRND JSE share code: CRD                                        
("Central Rand Gold" or the "Company")                                          
OPTIONS GRANTED TO EXECUTIVES                                                   
Share options granted to Executive Directors and Executive Committee            
Members                                                                         
Central Rand Gold announces that on Tuesday, 6 December 2011, the               
board of directors of the Company approved the grant of the following           
options over ordinary shares in the Company ("Options"):                        
    -    Johan du Toit (Chief Executive Officer): 18,000,000 Options;           
    -    Patrick Malaza (Chief Financial Officer): 11,400,000                   
Options; and                                                           
    -    30,000,000 Options to certain members of the Company`s                 
         Executive Committee.                                                   
The Options will vest in three equal tranches, with the first tranche           
vesting on 8 November 2012, the second tranche a year thereafter and            
the final tranche vesting on 8 November 2014.                                   
The first tranche has an exercise price of GBP0.01; the second tranche          
an exercise price of GBP0.015 and the third tranche an exercise price           
of GBP0.0225. Each of the three tranches will remain exercisable for a          
period of three years after vesting and will be capable of being                
exercised in part or in full at any time after vesting and during the           
exercise period. No consideration has been paid for the Options.                
Following the above grant of Options, the following directors have              
beneficial interests in the share capital of the Company as shown               
below:                                                                          
Director       Number of Ordinary % of issued     Number of                     
Shares held        share capital   Options held                   

Johan du Toit  350,000            0.022%          24,600,000                    
Patrick        35,000             0.002%          12,300,000                    
Malaza                                                                          
For further information, please contact:                                        
Central Rand Gold                                 +27 (0) 11 674 2304           
Johan du Toit / Patrick Malaza                                                  
Evolution Securities Limited                      +44 (0) 20 7071 4300          
Chris Sim / Neil Elliot                                                         
Merchantec Capital                                +27 (0) 11 325 6363           
Roger Pitt / Monique Martinez                                                   
Buchanan                                          +44 (0) 20 7466 5000          
Bobby Morse / James Strong                                                      
Jenni Newman Public Relations                                                   
(Proprietary) Limited                             +27 (0) 11 506 7351           
Jenni Newman                                                                    
7 December 2011                                                                 
Johannesburg                                                                    
JSE Sponsor                                                                     
Merchantec Capital                                                              
Date: 07/12/2011 09:00:02 Supplied by www.sharenet.co.za                     
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