Fundraising and Operational Update Central Rand Gold Limited (Incorporated as a company with limited liability under the laws of Guernsey, Company Number 45108) (Incorporated as an external company with limited liability under the laws of South Africa, Registration number 2007/019223/10) ISIN: GG00B92NXM24 LSE share code: CRND JSE share code: CRD (“Central Rand Gold” or the “Company”) Fundraising and Operational Update Funding As announced on 10 January 2017, the Company entered into a loan agreement with Mr Jia Bang Wang in the amount of US$1 million. The first tranche, in an amount of US$500,000, has been received by the Company. The transfer of the second tranche, in an amount of US$500,000, has been delayed due to certain exchange restrictions. However, efforts are being made to expedite the transfer process. The directors continue to monitor the Company's cash position. Operational Update The Company continues to work on executing the strategy of installing centrifugal concentrators. The anticipated date of commissioning thereof is still the third quarter of 2017. As previously announced, the concentrator equipment has been ordered from China, and the Company is pleased to announce that the equipment has now been manufactured. Delivery to South Africa is expected to occur in mid-June 2017. The open pit mining which started at the beginning of last month, is continuing, and materials have been delivered to the plant for crushing, prior to processing. Third party batch toll treatment materials are also being fed to the plant. For further information, please contact: Central Rand Gold +27 (0) 87 310 4400 Lola Trollip ZAI Corporate Finance Limited – Nominated Adviser +44 (0) 20 7060 2220 John Treacy / Jamie Spotswood Brandon Hill Capital Limited – Broker +44 (0) 20 3463 5000 Alex Walker / Jonathan Evans / Wei Jiao Merchantec Capital – JSE Sponsor +27 (0) 11 325 6363 Monique Martinez / Marcel Goncalves Johannesburg 20 April 2017 Sponsor Merchantec Capital The information communicated in this announcement is inside information for the purposes of Article 7 of Market Abuse Regulation 596/2014 ("MAR"). Date: 20/04/2017 09:09:00 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.