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CRD - Central Rand Gold - Commencement Of Decline Development

Release Date: 04/03/2009 11:00:02      Code(s): CRD
CRD - Central Rand Gold - Commencement Of Decline Development                   
Central Rand Gold Limited (`CRG` or `the Company`)                              
(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 2007/0192231/10)                              
ISIN: GG00B24HM601                                                              
Share code on LSE: CRND                                                         
Share code on JSE: CRD                                                          
COMMENCEMENT OF DECLINE DEVELOPMENT                                             
Central Rand Gold Limited ("CRG" or "the Company") is pleased to announce the   
completion of the portal excavation and commencement of the decline             
development on its Slot 8 decline on CMR in Johannesburg, South Africa.         
The 6 metre x 5 metre decline dipping at 8? has been designed to access ore     
on the Main Reef sequence and has been positioned in the footwall of the Main   
Reef. The decline continuation from the portal face is in line with target      
timelines. Importantly, CRG will continue mining surface material while the     
decline is being developed.                                                     
The Company has contracted the expertise of a consortium of well established    
mining contracting companies ("the consortium") to perform the construction     
of the decline and breakaways from the portal high wall to the intersection     
of reef at levels 1 and 2 underground.                                          
The consortium is referred to as the Mathomo Mining Consortium ("Mathomo")      
(after the North Sotho name meaning "beginning" or "innovation"), and           
comprises Group T, Paradigm Project Management (PPM), and Grinaker LTA Mining   
(a business unit of Aveng (Africa) Ltd). Mathomo is focussed on providing CRG   
with a holistic integrated project delivery solution.                           
Group T has been contracted to CRG since project inception to perform the       
Company`s shaft re-accessing programme, and has an excellent safety record      
for the work done to date, contributing to CRG`s achievement of over 1          
million injury free man hours . Group T will continue this work with the        
Company, providing the consortium with its resources and its considerable       
knowledge and experience for the work to be performed at slot 8.                
The companies in the consortium have extensive experience in managing large     
scale projects in the mining industry, particularly in decline development      
and mining (surface and underground).  Projects undertaken by these companies   
include mine and decline development work for companies such as:                
Company           Mine                Work Performed                            
Great Basin Gold  Burnstone           Sinking of main production                
shaft                                      
Aflease Gold      Modder East         Sinking of main                           
                                     ventilation/service shaft                  
Anglo Coal        Zondagfontein       Main shaft, ventilation                   
shaft, decline shaft                       
Rio Tinto         Palabora Mining     Sinking of Western                        
                 Company             Extention main decline                     
De Beers          Finsch, Cullinan    Block development                         
and Kimberley                                                  
Mathomo is fully aligned with and supportive of the CRG philosophy of "a        
company with a new approach to mining and people in South Africa". In this      
regard Mathomo supports CRG`s safety, environmental, and social                 
responsibility initiatives.                                                     
Issued on behalf of: Central Rand Gold Limited                                  
Date: 4 March 2009                                                              
For further information please contact:                                         
Johan Du Toit                                (011) 551 4000                     
Wayne Epstein                                                                   
Enquiries:                                                                      
Buchanan Communications Limited              +44 (0) 20 7466 5000               
Bobby Morse / Ben Willey                                                        
Evolution Securities Limited                 +44 (0) 20 7071 4300               
Simon Edwards / Chris Sim / Neil Elliot                                         
Jenni Newman Public Relations (Pty) Ltd      +27 (0) 11 772 1033                
Jenni Newman / Megann Outram                                                    
Macquarie First South Advisers (Pty) Ltd     +27 (0) 11 583 2307                
Thato Morojele / Annerie Britz/ Melanie de Nysschen                             
Date: 04/03/2009 11:00:02 Supplied by www.sharenet.co.za                     
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