ANGLOGOLD ASHANTI LIMITED - AngloGold Ashanti Says B2Gold To Earn Management of Gramalote Project

AngloGold Ashanti Says B2Gold To Earn Management of Gramalote Project

AngloGold Ashanti Limited
(Incorporated in the Republic of South Africa)
Reg. No. 1944/017354/06
ISIN. ZAE000043485 – JSE share code: ANG
CUSIP: 035128206 – NYSE share code: AU
JSE Bond Company Code - BIANG
(“AngloGold Ashanti” or the “Company”)


NEWS RELEASE

AngloGold Ashanti Says B2Gold To Earn Management of Gramalote Project

(PRESS RELEASE – DENVER) -- AngloGold Ashanti is pleased to announce an agreement with
B2Gold, its joint venture partner at the Gramalote Project in Colombia, whereby B2Gold will fund an
investment and exploration program next year to the value of $13.9m, in order to earn back to a 50:50
partnership and assume management of the project effective 1 January 2020.

“This aligns closely to our strategy of sharpening the focus of our capital and management resources
on the suite of options available to us,” said AngloGold Ashanti CEO Kelvin Dushnisky. “B2Gold has
proven itself a strong, experienced player in exploration, feasibility studies and project execution,
which makes it an excellent partner for us.”

This agreement, which is subject to definitive documentation expected to be completed by year end
2019, will provide additional momentum to the Gramalote project, one of AngloGold Ashanti’s two
advanced exploration projects in Colombia. B2Gold currently owns a 48.3% stake, with AngloGold
Ashanti holding the remaining 51.7%. The parties have agreed to target completion of a feasibility
study for Gramalote by the end of 2020.

AngloGold Ashanti’s wholly-owned Quebradona copper and gold project, also in the Colombia
department of Antioquia, is currently undergoing a feasibility study.

AngloGold Ashanti has operating partnerships at its Sadiola, Tropicana and Cerro Vanguardia mines,
and non-operating partnerships at its Morila and Kibali mines.

“We believe the Gramalote project has the potential to become a low-cost open pit gold mine,” B2Gold
Chief Executive Clive Johnson said. “The project has several key infrastructure advantages including
reliable water supply, close proximity to key infrastructure and a technically capable workforce in
country.”

“This agreement is a positive step toward unlocking value from our Colombia portfolio,” Dushnisky
said. “Gramalote continues to improve and we fully support the additional drilling program soon to get
underway; we will now focus our own management efforts on moving the Quebradona project up the
value curve.”

The Gramalote project is a Joint Venture between AGA (51.7% and manager) and B2Gold (48.3%). The
project lies on the eastern flank of the Cordillera Central near the towns of Providencia and San Jose del
Nus in the municipality of San Roque, in the north-west of the Antioquia Department. It is approximately
230km north-west of Bogota and 124km north-east of Medellin.


ENDS

16 September 2019

Johannesburg
JSE Sponsor: The Standard Bank of South Africa Limited

CONTACTS

Media

Chris Nthite +27 (0) 11 637 6388/+27 (0) 83 301 2481
cnthite@anglogoldashanti.com

General inquiries
media@anglogoldashanti.com

Investors
Sabrina Brockman +1 646 880 4526 / +1 646 379 2555
sbrockman@anglogoldashanti.com

Fundisa Mgidi (South Africa) +27 11 6376763 / +27 82 821 5322
fmgidi@anglogoldashanti.com


Disclaimer: The information in the chart is being provided in response to a request from certain investors, and follows the
format contained in the request. Risks with respect to our tailings storage facilities and tailings management are described in
the “Risk Factors” section of our Form 20-F, and investors are referred to the discussion of such risk factors in AngloGold
Ashanti’s annual report on Form 20-F for the year ended 31 December 2018, which has been filed with the United States
Securities and Exchange Commission (SEC). These factors as well as other unknown or unpredictable factors could have a
material adverse effect on our tailings storage facilities and tailings management, and more generally on our business,
financial condition or results of operation. In addition, investors should not assume that the information contained herein is
accurate as of any other date than the date of this document. AngloGold Ashanti undertakes no obligation to update publicly
or release any revisions to the information contained herein to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events, except to the extent required by applicable law.



Date: 16/09/2019 11:00:00
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