RANDGOLD & EXPLORATION COMPANY LTD - Update on settlement agreement with Paul Main

Update on settlement agreement with Paul Main

Randgold & Exploration Company Limited
(Incorporated in the Republic of South Africa)
(Registration number 1992/005642/06)
Share code: RNG
ISIN: ZAE000008819
("R&E" or "the Company")

UPDATE ON SETTLEMENT AGREEMENT WITH PAUL MAIN

Shareholders are referred to the announcement released on SENS on
19 September 2012 regarding the settlement agreement entered into
with Mr Paul Main (“Mr Main”) and the extension of the date by
which payment had to be made by Mr Main in respect thereof.

Following the aforementioned announcement shareholders are hereby
advised that R&E and Mr Main had subsequently reached a further
agreement in terms of which the Company granted a further
extension to Mr Main for the payment of the final outstanding
instalment of $2 million, until the end of January 2013, subject
to Mr Main compensating R&E for the delay in paying such
instalment.

Sandton
06 December 2012

Sponsor:
PSG Capital

Date: 06/12/2012 05:00:00 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.