Press release - Pamodzi Gold Orkney (Pty) Ltd (in provisional liquidation) and China African Precious Metals (Pty) Pamodzi Gold Limited (Incorporated in the Republic of South Africa) (Registration number 2002/013039/06) Share code: PZG ISIN: ZAE000088563 ("Pamodzi Gold" or "the Company") JOINT ANNOUNCEMENT - PAMODZI GOLD ORKNEY (PTY) LTD (IN PROVISIONAL LIQUIDATION) AND CHINA AFRICAN PRECIOUS METALS (PTY) LTD Johannesburg – Thursday, 25 October 2012 The Joint Provisional Liquidators of Pamodzi Gold Orkney (Pty) Ltd (in provisional liquidation) (“PGO”) and China African Precious Metals (Pty) Ltd (“CAPM”) are pleased to announce that all conditions have been met for the acquisition by CAPM of all of the assets of PGO relating to its Orkney gold mine (“Mine”) and that the agreement entered into in August 2011 has now been successfully completed. CAPM is 74% owned Superb Gold Ltd (“Superb Gold”) with 26% owned by a broad based black economic empowerment consortium led by Mr. Elias Khumalo. A phased implementation plan has been proposed by CAPM in respect of the Mine and various studies in this regard are ongoing. CAPM now exercises control over all the Mine assets and the day to day operations at the Mine. For more details contact: Johan Engelbrecht on behalf of the Joint Provisional Liquidators +27 (0)12 996 1043 CAPM +852 2504 2333 Transaction advisors to the Joint Provisional Liquidators: Standard Bank Legal advisors to the Joint Provisional Liquidators: Bowman Gilfillan Legal advisors to CAPM: DLA Cliffe Dekker Hofmeyer Date: 25/10/2012 10:10:00 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.