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CRD - Central Rand Gold Limited - Central Rand Gold Signs Agreement with

Release Date: 16/02/2012 09:00:02      Code(s): CRD
CRD - Central Rand Gold Limited - Central Rand Gold Signs Agreement with        
Goldplat plc to Mine in South Africa                                            
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      
ofSouth Africa,                                                                 
Registration number 2007/0192231/10)                                            
ISIN: GG00B24HM601                                                              
LSE share code: CRNDJSE share code: CRD                                         
("Central Rand Gold", "CRG" or the "Company")                                   
Central Rand Gold                                                               
Signs Agreement with Goldplat plc to Mine in South Africa                       
Central Rand Gold is pleased to announce that, through its wholly owned         
subsidiary Ferreira Estates and Investment Company Ltd, it has signed a         
contract mining and beneficiation agreement with Goldplat plc (AIM: GDP), a     
London quoted gold producer, with a view of recommencing gold mining at the     
Crown East Main Reef (strike 1.2km) and CMR Bird Reef mines (strike 2km) in     
the West Rand area near Johannesburg in South Africa. The above mining areas    
fall outside of CRG`s near term target areas of CMR Main reef (East and West)   
and Crown West.                                                                 
Subject to due diligence, under the terms of the agreement Goldplat will have   
the rights to assume mining, at its own cost and risk, of the two sites in      
return for a 5% net smelter royalty to Central Rand Gold.  It is envisaged      
that the ore from the two sites will be processed at Goldplat`s own gold        
recovery operations in South Africa.                                            
During the 90 day due diligence phase, initial work by Goldplat will focus on   
confirming historic data, sampling and evaluating the historically producing    
reefs which start from surface to ascertain the higher grade areas from which   
to commence production.  Both parties believe that Crown East Main Reef and     
CMR Bird Reef mines contain significant gold bearing ore available to mine at   
commercial rates. A further announcement will be made following completion of   
the due diligence phase.                                                        
Commenting on the agreement with Goldplat plc, Johan du Toit CEO, stated:       
"This agreement with Goldplat is aligned with our strategy of seeking           
opportunities to fully exploit our current mining right area. As the mining     
areas identified were not part of CRG`s near term production plans, this        
agreement will provide additional benefit to all stakeholders through job       
creation and procurement opportunities as well as additional revenue to CRG     
shareholders, through royalty payments."                                        
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                                               +44 (0) 20 7466 5000     
Bobby Morse / James Strong                                                      
Jenni Newman Public Relations (Proprietary) Limited    +27 (0) 11 506 7351      
Jenni Newman                                                                    
16 February 2012                                                                
Johannesburg                                                                    
JSE Sponsor                                                                     
Merchantec Capital                                                              
Date: 16/02/2012 09:00:01 Supplied by www.sharenet.co.za                     
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