Central Rand Gold South Africa (Pty) Ltd ("CRG SA") to Defend Application Made by Puno Gold Investments (Pty) Ltd Central Rand Gold Limited (Incorporated as a company with limited liability under the laws of Guernsey, Company Number 45108) Registration number 2007/0192231/10) ISIN: GG00B92NXM24 LSE share code: CRND JSE share code: CRD ("Central Rand Gold" or the “Company”) CENTRAL RAND GOLD SOUTH AFRICA PROPRIETARY LIMITED ("CRG SA") TO DEFEND APPLICATION MADE BY PUNO GOLD INVESTMENTS PROPRIETARY LIMITED TO WIND-UP CRG SA The board of directors of Central Rand Gold Limited (“the Board”) wishes to advise shareholders that it has received correspondence from Puno Gold Investments Proprietary Limited (“Puno”) relating to an application made by Puno to wind-up CRG SA (the “Application”). CRG SA is the Central Rand Gold Group's principal operating subsidiary, holding all of Central Rand Gold's mining and prospecting rights. Given the recent finding of the High Court of South Africa to uphold the Company’s appeal with costs in relation the dispute with Puno, as announced on 11 April 2016, the Board believes this to be the latest strategy from Puno to frustrate the operations of the Company. The Board considers the Application to be without merit and has engaged legal advisers to defend the action. Shareholders will be kept fully informed as the matter progresses. For further information, please contact: Central Rand Gold +27 (0) 87 310 4400 Lola Trollip / Nathan Taylor Panmure Gordon (UK) Limited – Nominated Adviser & Broker +44 (0) 20 7886 2977 Adam James / James Greenwood Merchantec Capital – JSE Sponsor +27 (0) 11 325 6363 Marcel Goncalves / Monique Martinez Jenni Newman Public Relations Proprietary Limited +27 (0) 11 506 735 Jenni Newman Johannesburg 3 May 2016 Date: 03/05/2016 09:00:00 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.