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CRD - Central Rand Gold Limited - Completion of double void study

Release Date: 15/09/2011 08:00:31      Code(s): CRD
CRD - Central Rand Gold Limited - Completion of double void study               
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 2007/0192231/10)                                            
ISIN: GG00B24HM601                                                              
LSE share code: CRND    JSE share code: CRD                                     
("Central Rand Gold" or the "Company")                                          
COMPLETION OF DOUBLE VOID STUDY                                                 
On 29 March 2011, Central Rand Gold announced that it was encountering what     
appeared to be unrecorded mining voids in areas previously believed to have     
been unmined.                                                                   
Central Rand Gold has spent a significant amount of time and energy             
internally investigating these mining voids (termed Composite Double Voids)     
in order to fully understand the reasons behind their occurrence and to         
provide a means to their detection and prediction.                              
Central Rand Gold is pleased to announce the completion of these studies        
("Internal Study") and can confirm that the incidence of Composite Double       
Voids appears to be limited to very specific areas and conditions, and that     
the general prediction of their occurrence is possible.                         
It appears that the development of these Composite Double Voids is limited      
to areas where the entire Main Reef, Middling and Main Reef Leader package      
is particularly high grade and in addition, has a particularly thinly           
developed Middling.                                                             
Using a combination of grade distribution, isopach models and historical pay    
limits, it is possible to isolate areas of the greatest potential for           
Composite Double Voids and, further, to compare the impacted areas with the     
remaining unaffected areas.                                                     
It is estimated that the impacted area for 0 to 450 metres below surface        
represents less than 5% of the total Resource base for such depth range         
within the Consolidated Main Reef leasehold. Furthermore only an estimated      
38% of the impacted 5% is believed to represent areas of Composite Double       
Voids.                                                                          
As the total combined impact of Composite Double Voids as determined by this    
Internal Study is less than 3% of the area affected, it is not deemed           
necessary to adjust the Main Reef Mineral Resource base. The Composite          
Double Void model, as described above, will be used in future mine planning     
and will be considered an additional modifying factor in any future Reserve     
computation.                                                                    
The Internal Study, combined with the results of the trial conventional         
mining (to be completed by end September 2011), and the current engagement      
with Department of Water Affairs to further understand the proposed interim     
water solution for the Central Basin, all form part of the Central Rand         
Gold`s strategic review in re-assessing its future prospects. This re-          
assessment is expected to be completed by end October 2011.                     
A full report of the Internal Study, as prepared by Mr Keith Matier, is         
available on the Company`s website: www.centralrandgold.com.                    
NOTE:                                                                           
The information in this statement relating to Mineral Resources and geology     
has been reviewed and approved by Mr Matier, BSc (Hons), GDE, Pr Sci Nat,       
who is a competent person in terms of the SAMREC and JORC codes. Mr Matier      
is the Geology Manager of Central Rand Gold South Africa (Proprietary)          
Limited and has over 17 years` experience in precious metal exploration,        
mineral resource management and evaluation.                                     
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                                                   
(Proprietary) Limited                             +27 (0) 11 506 7351           
Jenni Newman                                                                    
15 September, 2011                                                              
Johannesburg                                                                    
JSE Sponsor                                                                     
Merchantec Capital                                                              
Date: 15/09/2011 08:00:31 Supplied by www.sharenet.co.za                     
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