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CRD - Central Rand Gold Limited - Interdict application launched by Puno Gold

Release Date: 09/09/2009 08:00:05      Code(s): CRD
CRD - Central Rand Gold Limited - Interdict application launched by Puno Gold   
Investments (Pty) Limited                                                       
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")                                                  
Interdict application launched by Puno Gold Investments (Pty) Limited           
Central Rand Gold has, together with Central Rand Gold Netherlands Antilles     
("CRGNV") and Central Rand Gold SA (Pty) Limited ("CRGSA" or "The Company"),    
been cited as a Respondent in an application brought by Puno Gold Investments   
(Pty) Limited ("Puno"), the 26% BBBEE shareholder in the South African          
subsidiary CRGSA.                                                               
In bringing this application, Puno is seeking to interdict CRGSA from           
proceeding with mining operations at its Consolidated Main Reef, Langlaagte,    
City Deeps and Crown Mines tenements (collectively "the Tenements").  The       
decision is pending the final determination by Arbitration award or Court       
order of the interpretation of the provisions of the shareholders agreement     
entered into between Puno and CRGNV in respect of CRGSA, which provide for the  
completion of, and timeframe within which, a Bankable Feasibility Study is to   
be prepared in respect of the anticipated mining of the Tenements.              
CRGSA, as First Respondent to the application, will oppose the interdict        
proceedings which are scheduled to take place on 13 October 2009 or so soon     
thereafter as and when the matter may be heard.  The Company reasonably         
believes that it will be successful in opposing this application.               
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 / Katharine Sutton                                     
Jenni Newman Public Relations (Pty) Ltd                                         
+27 (0) 11 506 7300                                                             
Jenni Newman / Megann Outram / Lerato Tlatlane                                  
Date: 09/09/2009 08:00:05 Supplied by www.sharenet.co.za                     
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