Agreement Executed

Further to the announcement released on 17 October 2012, Central Rand Gold is pleased to announce that an agreement with the Trans Caledon Tunnel Authority ("TCTA") was executed on 26 November 2012 ("the Agreement"). Signature of the Agreement will give effect to the donation of the pumps, previously purchased from international technology group, Andritz Ritz ("the Pumps"), to TCTA for the planned construction of the new High Density Sludge Treatment Plant ("the Treatment Plant") for the Central Basin. Construction of the Treatment Plant is scheduled to commence on 8 January 2013.

The Pumps, together with the Treatment Plant, will provide the means to contain the rising water table below the Environmental Critical Level of 186 metres below surface ("mbs"), as measured at the South West Vertical Shaft. In addition, the Pumps and the Treatment Plant will further enable Central Rand Gold to gradually dewater the Central Basin, at an incremental operating cost, to the maximum operating depth of the Pumps of 400 mbs.

Despite the Pumps' operating capacity being limited to 400 mbs, the Agreement gives Central Rand Gold the option to undertake further dewatering activities, which will allow the liberation of the Company's resources lying below the 400 mbs level, as future mining operations may dictate.

For further information, please contact:

Central Rand Gold +27 (0) 87 310 4400

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