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CRD - Central Rand Gold Limited - Toll treating

Release Date: 07/02/2011 09:02:23      Code(s): CRD
CRD - Central Rand Gold Limited - Toll treating                                 
Central Rand Gold Limited                                                       
("CRG" or the "Company" or the "Group")                                         
(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                                                          
Following CRG February 3rd announcement wherein reference was made to plans to  
delay planned metallurgical upgrades and pursue short term arrangements to      
process excess mining production the following update is announced:             
Toll treating                                                                   
The Company together with Mintails SA (Pty) Limited and Mogale Gold (Pty)       
Limited (collectively referred to as MSA) have identified a commercially        
beneficial opportunity arising from participating in a venture in terms of which
CRG shall contribute gold bearing ore for processing at MSA`s metallurgical gold
processing plant.                                                               
The main terms governing this arrangement are as follows:                       
The arrangement shall commence on the 4 February 2010 and thereafter endure for 
a period of 90 calendar days ("the Pilot Phase");                               
MSA shall contribute a proportion of their milling and processing capabilities  
of its Mogale Gold operations whilst CRG shall contribute 14 000 tons of gold   
bearing ore per month for processing;                                           
The parties have established that each stands to incur an opportunity cost for  
entering into this agreement and it is the intention of the parties to first    
fully recoup such opportunity and related operational costs, where after the two
parties will share in the profits, based on a grade sliding scale.              
Site visit                                                                      
An analyst site took place on Sunday 06 February 2011. During this visit a      
presentation was made to the analysts, a copy of which may be accessed on the   
Company website: www.centralrandgold.com                                        
For further information, please contact:                                        
7 February 2011                                                                 
JSE Sponsor                                                                     
Macquarie First South Advisers (Pty) Limited                                    
For further information, please contact:                                        
Johan du Toit                                +27 (0) 11 674 2304                
Patrick Malaza                               +27 (0) 11 674 2304                
Evolution Securities Limited                      +44 (0) 20 7071 4300          
Rob Collins / Chris Sim / Neil Elliot                                           
Macquarie First South Advisers (Pty) Ltd          +27 (0) 11 583 2000           
Annerie Britz / Melanie de Nysschen/ Yvette Labuschagne                         
Buchanan Communications Limited                   +44 (0) 20 7466 5000          
Bobby Morse / Katharine Sutton / James Strong                                   
Jenni Newman Public Relations (Pty) Ltd           +27 (0) 11 506 7350           
Jenni Newman                                                                    
Date: 07/02/2011 09:02:23 Supplied by www.sharenet.co.za                     
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