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CENTRAL RAND GOLD LIMITED - Directorate changes

Release Date: 16/05/2014 14:30:00      Code(s): CRD       PDF(s):  
Directorate changes

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: GG00B92NXM24
LSE share code: CRND JSE share code: CRD
("Central Rand Gold" or the “Company”)


Directorate changes


The Board of Central Rand Gold Limited announces the following Board
changes:

Following completion of the Open Offer and the Redstone Capital Limited
(“Redstone”) funding, which has enabled the Company to make the required
changes to its processing plant, Michael McMahon, Chairman of the Company
since 2009, believes it is the appropriate time to step down as
Chairman and as a Director of the Company, effective immediately.

The Board would like to thank Michael McMahon for his services as
Chairman over the past five years and wishes him well in his future
ventures.

Nathan Taylor has now been appointed as Interim Chairman of Central Rand
Gold, with immediate effect.

The Company also announces the appointment of Allen Phillips as an
Independent Non-Executive Director, with immediate effect. Allen has over
40 years experience in gold metallurgy both in South Africa as well as
international operations (Ghana, Australia, and Venezuela). He held the
position of Chief Consulting Metallurgist at JCI Limited as well as
Senior Consulting Metallurgist for Gold Fields Limited. His experience
has been at an operational managerial level as well as group consultant
responsible for multiple operations. He has completed a number of process
upgrade capital projects. During the last seven years, he has undertaken
independent private consulting for a number of operations, focussing on
process optimisation and trouble shooting. He has previously served on a
number of boards related to the mining industry.

The Company will, over the coming months, be seeking an additional
Independent Non-Executive Director that will be able to assist in the
execution of the Company’s longer term strategy. Until such an
appointment is made, Allen Phillips has been tasked to ensure that the
Board remains fully compliant in terms of the relationship agreement
entered into between the Company and Redstone Capital Limited in 2013.
The Board will review all positions, roles and responsibilities once the
additional independent Non Executive Director is appointed.

For further information, please contact:
Central Rand Gold                          +27 (0) 11 674 2304
Johan du Toit / Patrick Malaza


Charles Stanley Securities Limited         +44 (0) 20 7149 6478
Marc Milmo / Mark Taylor


Merchantec Capital                         +27 (0) 11 325 6363
Monique Martinez / Marcel Goncalves

Buchanan                                   +44 (0) 20 7466 5000
Bobby Morse / Louise Mason

Jenni Newman Public Relations              +27 (0) 11 506 7351
Proprietary Limited
Jenni Newman


There is no further information to be disclosed under Rule 17 or Schedule
Two, Paragraph (g) of the AIM Rules for Companies.

Johannesburg
16 May 2014

Sponsor
Merchantec Capital

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