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HAR - Harmony Gold Mining Company Limited - Harmony further optimises value for

Release Date: 07/09/2010 12:10:01      Code(s): HAR
HAR - Harmony Gold Mining Company Limited - Harmony further optimises value for 
Harmony Gold Mining Company Limited                                             
Registration number 1950/038232/06                                              
Incorporated in the Republic of South Africa                                    
ISIN: ZAE000015228                                                              
JSE share code: HAR                                                             
("Harmony" or "the company")                                                    
PRESS RELEASE                                                                   
Merriespruit South region and Freegold option                                   
Johannesburg. Tuesday, 7 September 2010. Harmony Gold Mining Company Limited    
(Harmony) is pleased to announce that it has completed two transactions with    
Witwatersrand Consolidated Gold Resources Limited (Wits Gold).                  
In terms of these transactions, Wits Gold will obtain a prospecting right over  
Harmony`s Merriespruit South area and the option held by ARMGold/Harmony Joint  
Venture Company (Proprietary) Limited (Freegold), a wholly owned subsidiary of  
Harmony. The option was to acquire a beneficial interest of up to 40% in any    
future mines established by Wits Gold on certain properties in the Southern Free
State (Freegold option), this will be cancelled.                                
The total consideration price of the transactions is R336 million, (R61 million 
for the prospecting area and R275 million for the cancellation of the option    
agreement) which will be settled in cash or in a combination of cash and shares 
in Wits Gold. The agreements were signed on 3 September 2010 and outstanding    
conditions precedent are expected to be fulfilled within the next 9 months.     
Harmony will abandon a portion of its mining right in respect of the            
Merriespruit South area to enable Wits Gold to include this area in its         
prospecting right, which is located immediately south of the Merriespruit South 
area.  The disposal of the Merriespruit South area does not have any impact on  
the existing Merriespruit 1 mining operations.                                  
Harmony`s Chief Executive Graham Briggs says, "The Merriespruit South area and  
the Freegold option do not fit into our portfolio. Therefore these transactions 
are in line with Harmony`s strategy to focus on our growth projects in South    
Africa.  This is an exciting opportunity for Wits Gold and will unlock value for
our shareholders."                                                              
For more details contact:                                                       
Jaco Boshoff                                                                    
Executive: Reserves, Projects and New Business                                  
On +27 (0)83 395 3810                                                           
Esha Brijmohan                                                                  
Investor Relations Officer                                                      
On +27 (0)82 759 1775                                                           
Corporate Office:                                                               
Randfontein Office Park                                                         
PO Box 2                                                                        
South Africa 1760                                                               
T: +27 11 411 2000                                                              
Corporate advisor:                                                              
Qinisele Resources (Pty) Limited                                                
J.P. Morgan Equities Limited                                                    
Date: 07/09/2010 12:10:01 Supplied by www.sharenet.co.za                     
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