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GDO - Gold One International Limited - Gold One receives Section 11 approval for the acquisition of Rand Uranium Gold One International Limited Registered in Western Australia under the Corporations Act, 2001 (Cth) Registration number ACN: 094 265 746 Registered as an external company in the Republic of South Africa Registration number: 2009/000032/10 Share code on the ASX/JSE: GDO ISIN: AU000000GDO5 OTCQX International: GLDZY ("Gold One" or the "company") Gold One receives Section 11 approval for the acquisition of Rand Uranium Gold One is pleased to announce that it has received Section 11 approval from the South African Department of Mineral Resources for its proposed US$ 250- million cash offer for 100% of Rand Uranium (Proprietary) Limited ("Rand Uranium"). This approves the change of control of the mineral rights associated with Rand Uranium to Gold One. The last outstanding condition precedent to the conclusion of the acquisition of Rand Uranium relates to the successful raising of at least US$ 150 million by Gold One either pursuant to its financing arrangements with Investec Bank Limited (announced on 29 August 2011) or from another debt or equity financing source, including through the minimum A$150 million capital injection into Gold One resulting from a consortium, through BCX Gold Investment Holdings Limited, subscribing for shares in Gold One as part of the transaction announced by Gold One on 16 May 2010. Gold One currently expects this condition to be fulfilled in early 2012. As previously announced on 29 November 2011, Gold One took over daily management of the Cooke Underground Operations and Randfontein Surface Operations during September 2011. A complete replanning exercise for the Cooke Underground Operations, incorporating Gold One`s turnaround strategy, is being undertaken. The Company is currently also completing its annual budgeting cycle for the Modder East Operations. Gold One will provide further details about this in a production update that it expects to be in a position to release in early 2012. Gold One President and Chief Executive Officer Neal Froneman comments: "I am delighted that we have been able to make significant progress on these outstanding commitments before the end of the calendar year. This ensures shareholders wishing to invest in Gold One have a clearer picture of what the new Gold One will look like. We look forward to rewarding our existing and new shareholders in a similar way as we have done thus far." Weltevreden Park 23 December 2011 For and on behalf of Gold One: Corporate Advisor: Qinisele Resources (Proprietary) Limited JSE Sponsor: Macquarie First South Capital (Proprietary) Limited Australian Corporate Adviser: Hartleys Limited South African Legal Adviser: Edward Nathan Sonnenbergs Australian Legal Counsel: Blake Dawson ENDS Issued by Gold One International Limited www.gold1.co.za 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 1,800 people. Gold One`s other projects and targets include Ventersburg in the Free State Goldfields, the Tulo concession in Mozambique and the Etendeka greenfield project in Namibia. Gold One has an issued share capital of 1,040,189,093 shares. This news release does not constitute investment advice. Neither this news release nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of securities in any jurisdiction. 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