Acceptance of options by directors and company secretary GOLIATH GOLD MINING LIMITED Incorporated in the Republic of South Africa (Registration number: 1933/004523/06) Share code: GGM ISIN: ZAE000154753 (“Goliath Gold” or “the Company”) ACCEPTANCE OF OPTIONS BY DIRECTORS AND COMPANY SECRETARY In compliance with paragraphs 3.63 to 3.74 (both inclusive) of the Listings Requirements of JSE Limited, the following information is disclosed wherein share options granted (off market) have been accepted on 14 December 2012 at a strike price of R3.405737: Name of director: Christopher Chadwick Company: Goliath Gold Mining Limited Number of options granted: 1 000 000 Vesting period: One third after 12 months, two thirds after 24 months and the balance after 36 months Expiry date: 13 December 2017 Total value: R3 406 737.00 Class of securities: Options in respect of ordinary shares Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: Mark Wheatley Company: Goliath Gold Mining Limited Number of options granted: 1 000 000 Vesting period: One third after 12 months, two thirds after 24 months and the balance after 36 months Expiry date: 13 December 2017 Total value: R3 406 737.00 Class of securities: Options in respect of ordinary shares Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: Richard Stewart* Company: Goliath Gold Mining Limited Number of options granted: 1 000 000 Vesting period: One third after 12 months, two thirds after 24 months and the balance after 36 months Expiry date: 13 December 2017 Total value: R3 406 737.00 Class of securities: Options in respect of ordinary shares Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes *As announced on SENS on 29 November 2012, Richard Stewart has been appointed as acting Chief Executive Officer and executive director of Goliath Gold with effect from 1 January 2013. Name of Company Secretary: Pierre Kruger Company: Goliath Gold Mining Limited Number of options granted: 1 000 000 Vesting period: One third after 12 months, two thirds after 24 months and the balance after 36 months Expiry date: 13 December 2017 Total value: R3 406 737.00 Class of securities: Options in respect of ordinary shares Nature and extent of company secretary’s interest: Direct beneficial Clearance to deal received: Yes Johannesburg 18 December 2012 Sponsor Merchantec Capital Date: 18/12/2012 09:30:00 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.