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CRD - Central Rand Gold Limited - Central Rand Gold awaits Department of Mineral

Release Date: 05/09/2011 08:00:08      Code(s): CRD
CRD - Central Rand Gold Limited - Central Rand Gold awaits Department of Mineral
Resources` response to its timeous presentation and documentation               
Central Rand Gold Limited                                                       
("Central Rand Gold" 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                                                          
CENTRAL RAND GOLD AWAITS DEPARTMENT OF MINERAL RESOURCES` RESPONSE TO ITS       
TIMEOUS PRESENTATION AND DOCUMENTATION                                          
In response to recent media speculation, Central Rand Gold Limited can confirm  
that it has responded in full to the South African Department of Mineral        
Resources (DMR) in terms of a compliance notice it received from the DMR on     
August 5, 2011.                                                                 
In terms of this notice, the DMR said it was considering re-evaluating the      
Company`s Mining Right as a result of certain elements of "non-compliance" with 
Social Labour Plan (SLP) requirements of its New Order Mining Right. This plan  
was based on its original 2008 operational plans submission which had envisaged 
a considerably larger resource base and operation.                              
On August 24 2011, a presentation was made by the Company to the DMR, outlining 
how the Company is rectifying these issues of "non-compliance".                 
The Company advised in its Interim Report for the six months to June 30 - issued
on RNS and SENS on August 26, 2011 - that it was engaged in discussions with the
DMR.  The Interim Report stated: "A request has been made to the DMR to review  
the Company`s current and future Social Labour Requirement commitments so that  
they reflect the operational reality of a reduced short-term resource base more 
closely. The reduction in the short term resource base is as result of a number 
of factors, including AMD, which have impacted the Company and other mining     
companies in the Witwatersrand basin.                                           
CRG, in its first two years of operations, spent over R18m on various Social and
Labour Plan projects as well as recently spending R35m on acquiring the water   
pumps that would be required to stop the rising water table in the Central      
Basin, despite having no legal liability to do so. CRG believes that based on   
the resource base available to it, which has substantially been flooded, it has 
substantially complied with both the spirit and the intent of the original      
Social and Labour Plan and furthermore the Minerals and Petroleum Resource      
Development Act. Furthermore, CRG has made commendable progress in its          
employment equity and procurement programmes to involve local communities and   
black-owned entities.                                                           
It is important to note that the Company has until September 9 2011 to submit   
further documentation to the DMR, if it feels that this is necessary. Central   
Rand Gold is waiting for an official response from the DMR and continues to     
evaluate its submission and will inform shareholders accordingly.               
The Company remains confident of resolving these important issues with the      
relevant South African authorities and developing the considerable economic     
resources it has discovered during its short tenure in the Central Rand for the 
benefit of all stakeholders, including shareholders, local communities and the  
people of South Africa.                                                         
For further information, please contact:                                        
Central Rand Gold                                      +27 (0) 11 674 2304      
Johan du Toit / Patrick Malaza                                                  
Evolution Securities Limited                           +44 (0) 20 7071 4300     
Chris Sim / Neil Elliot                                                         
Merchantec Capital                                     +27 (0) 11 325 6363      
Roger Pitt / Monique Martinez                                                   
Buchanan Communications Limited                        +44 (0) 20 7466 5000     
Bobby Morse / James Strong                                                      
Jenni Newman Public Relations (Pty) Ltd                +27 (0) 11 506 7351      
Jenni Newman                                                                    
September 5, 2011                                                               
Johannesburg                                                                    
JSE Sponsor                                                                     
Merchantec Capital                                                              
Date: 05/09/2011 08:00:08 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  
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