Central Rand Gold Signs Agreement with Goldplat

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

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