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CRD - Central Rand Gold - Initial reserve statement for Central Rand Gold

Release Date: 25/08/2009 08:31:02      Code(s): CRD
CRD - Central Rand Gold - Initial reserve statement for Central Rand Gold       
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: GG00B24HM601                                                              
Share code on LSE: CRND                                                         
Share code on JSE: CRD                                                          
("Central Rand Gold" or "CRG")                                                  
Johannesburg, August 25, 2009: Central Rand Gold Ltd (LSE: CRND, JSE: CRD), the 
South African gold mining and exploration holding company, has released its     
first independent Resources to Reserves conversion report ("Snowden Report" or  
the "Report"). The Report was conducted by Snowden Mining Industry Consultants  
on a section of the Company`s Central Rand Goldfield (the "Project") tenements  
in southern Johannesburg.                                                       
- The first CMR mine is economic and technically feasible;                      
- JORC Probable Reserve of 270,900 ounces of gold (2.06 million                 
 tonnes at 4.1g/t) converted from Indicated Resources within the Main Reef on   
 the Consolidated Main Reef tenement in two well defined channels at depths of  
 between 70m and 500m and 70m and 750m below surface over approximately 2km of  
strike where trial mining is set to begin;                                     
- Conversion rate of 70% from Indicated Resource to Probable Reserve was        
 achieved for Main Reef mineralization exceeding 3g/t within the identified     
 channels; and                                                                  
- Run of Mine Operating Costs for this initial Reserve conversion - US$580/oz.  
The Ore Reserve is presented in the table below:                                
Area          Classification  Tonnes (Mt)    Au (g/t)       Au (oz)             
East Limb     Probable        0.719          4.1            94,400              
West Limb     Probable        1.342          4.1            176,500             
Total         Probable        2.061          4.1            270,900             
The process for the compliant Reserve conversion (which has been reported in    
accordance with the JORC code) developed with Snowden was necessarily rigorous  
in its assumptions and the Board has strong confidence that the resultant       
modeled outputs of this process represent a strong base case upon which the     
Company will be able to build.                                                  
Commenting on the report, Chief Executive Officer, Johan du Toit, said:         
"Today`s results are a significant milestone for CRG. The Report is based on two
well-defined channels in the Main Reef, without the inclusion of any additional 
ore such as sweepings, vamping, Main Reef Leader pillars, auriferous middling   
material and surface material.  With Snowden confirming that our mining method  
and mine plan can develop an economic mine, this is the first of many steps in  
building a large and sustainable business over the next few years."             
The full Snowden Report is available on the Company`s website:                  
Central Rand Gold will host a conference call on Tuesday 25 August 2009 at 10:00
am (London, UK time) / 11:00am (South Africa) to update investors and analysts  
on its Q2 Results and Reserve Update.                                           
Participants may join the call by dialling one of the three following numbers,  
approximately 10 minutes before the start of the call.                          
From UK: (toll free) 0808 109 1498                                              
From South Africa: (toll free) 0800 999 539                                     
From Australia: (toll free) 1800 052 112                                        
Participant pass code: 878026#                                                  
Johan du Toit, Chief Executive Officer, will lead the discussion and will be    
accompanied by other members of the management team. The discussion will be     
followed by a question and answer period.                                       
For further information, please contact:                                        
Central Rand Gold                                 +27 (0) 11 551 4000           
Johan du Toit/ Wayne Epstein                                                    
Evolution Securities Limited                      +44 (0) 20 7071 4300          
Simon Edwards/ Chris Sim/ Neil Elliot                                           
Macquarie First South Advisers (Pty) Ltd          +27 (0) 11 583 2000           
Thembeka Mgoduso/ Annerie Britz/                                                
Melanie de Nysschen/ Manisha Ramlakhan                                          
Buchanan Communications                           +44 (0) 20 7466 5000          
Bobby Morse/ Ben Willey/ Katherine Sutton                                       
Jenni Newman Public Relations (Pty) Ltd           +27 (0) 11 506 7300           
Jenni Newman/ Megann Outram/ Lerato Tlatlane                                    
25 August 2009                                                                  
Macquarie First South Advisers (Pty) Limited                                    
Date: 25/08/2009 08:31:01 Supplied by www.sharenet.co.za                     
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