GIYANI GOLD CORPORATION - Giyani completes spinout of Canadian assets

Giyani completes spinout of Canadian assets

Giyani Gold Corporation
(formerly 99 Capital Corporation)
(Incorporated and registered in Canada)
(Registration number BC-C0887454)
Share code on the TSXV: WDG
Share code on the JSE: GIY    ISIN:   CA37636L1076




GIYANI GOLD COMPLETES SPINOUT OF CANADIAN ASSETS


Oakville, Ontario, December 6, 2013 – Giyani Gold Corp. (TSXV:
WDG, JSE: GIY, NSX: GGC) (“Giyani Gold”) is pleased to announce
the acquisition of a majority interest in the newly launched
company Canoe Mining Ventures Corp. (“Canoe”) (formerly known as
C Level III Inc.).   As of December 10, 2013, the shares of Canoe
will commence trading on the TSX Venture Exchange under the
symbol “CLV”.   Giyani Gold’s interest was acquired by means of a
securities exchange agreement, by which Giyani Gold exchanged
100% of its common shares in 2299895 Ontario Inc. (“2299895”),
its majority held subsidiary, for 19.4 million common shares
(57.7% ownership) of Canoe.   As a result, Canoe has acquired all
of 2299895’s Canadian exploration permits, including the Abbie-
Lake Property, the Keating Property, and the Killins Property as
well as other minor Canadian exploration properties.


Mr. Duane Parnham, Executive Chairman of Giyani Gold, commented:
“Giyani Gold, through our large ownership position, will
directly benefit from any successes Canoe has in their
acquisition activities and exploration programs.”    Mr. Parnham
further noted: “Canoe is a well-funded company with a strong
shareholder base. I have joined Canoe’s Board of Directors to
help grow them into a leading Canadian-focused mining company
which will, in turn, grow the value of Giyani Gold’s holdings.”


It is expected that Canoe will initially commence with an
exploration program consisting of geophysics and drilling on
high priority targets identified on the Keating and Killins
Property.


Giyani Gold as a company is now focused on their Giyani Gold
Project in South Africa and continuing their evaluation of
acquisition targets in Southern Africa.


Canoe and 2299895 each carried out respective private placements
on November 21, 2013 for combined aggregate gross proceeds of
$1,416,665. The 2299895 private placement raised   $908,665
consisting of 865,395 common shares of 2299895 issued on a
subscription receipt basis at   $1.05 per subscription receipt
which were exchanged for seven (7) Canoe common shares and seven
(7) Canoe common share purchase warrants which represent an
aggregate total of 6,057,765 common shares and 6,057,765
purchase warrants.


For additional details relating to the transaction and the
private placement, see the Canoe Mining Ventures Corp. news
release dated December 6, 2013.


Additional information and corporate documents may be found on
the Giyani Gold Website - www.giyanigold.com , the Canoe Mining
Ventures Corp. website - www.canoemining.com, and www.sedar.com.


Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.


For further information please contact:
Luke Vigeant, Head of Communications
Giyani Gold Corp.
Tel: 1.905.844.1456 X237
Email: lvigeant@giyanigold.com


Chuck Allen, President
Giyani Gold Corp.
Tel: 1.905.844.1456 X223
Email: callen@giyanigold.com


Forward Looking Statements
This news release includes certain forward-looking statements or
information. All statements other than statements of historical
fact included in this release or other future plans, objectives
or expectations of Giyani Gold Corp. are forward-looking
statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be
accurate and actual results and future events could differ
materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially
from Giyani Gold's plans or expectations include risks relating
to the actual results of current exploration activities,
fluctuating gold prices, possibility of equipment breakdowns and
delays, exploration cost overruns, availability of capital and
financing, general economic, market or business conditions,
regulatory changes, timeliness of government or regulatory
approvals and other risks detailed herein and from time to time
in the filings made by Giyani Gold with securities regulators.
Giyani Gold expressly disclaims any intention or obligation to
update or revise any forward-looking statements whether as a
result of new information, future events or otherwise except as
otherwise required by applicable securities legislation.


9 December 2013
Johannesburg


Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)

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