Consent for transfer of prospecting rights

Central Rand Gold is pleased to announce that the Deputy Director General: Mineral Regulation of the Department of Mineral Resources of the Republic of South Africa has consented, in terms of section 11 (2) of the Mineral and Petroleum Resources Development Act, 2002 (Act 28 of 2002), to the cession of the following prospecting rights registered in the name of Rand Quest Syndicate Limited ("RQS") to Central Rand Gold South Africa Proprietary Limited ("CRGSA"):

GP30/5/1/1/2(253) PR, over the Western Areas A;

GP30/5/1/1/2(254) PR, over the Western Areas B; and

GP30/5/1/1/2(257) PR, over the Western Areas E.

These prospecting rights ("the Rights") cover an area of approximately 5,040 hectares in extent situated near Soweto to the South West of Johannesburg. The Rights formed part of the suite of rights sold to CRGSA in terms of a Sale of Business agreement entered into with RQS in June 2007, prior to the listing of the Company on the main boards of both the London and Johannesburg Stock Exchanges on 08 November 2007.

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

Marcel Goncalves / 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

 27 February 2012

Johannesburg

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