Court Proceedings

On Wednesday, 12 October 2011, Ferreira Estate and Investment Company Limited ("FEIC"), the registered holder of the Company's mining right under departmental reference number GP30/5/1/1/2/140MR ("Mining Right"), and a subsidiary of Central Rand Gold, instituted urgent motion proceedings in the North Gauteng High Court, Pretoria ("High Court") for relief to review and set aside the decision taken by the Minister of Mineral Resources ("the Minister") on Thursday, 22 September 2011 to cancel the Mining Right granted to FEIC. The Sheriff of the High Court was on the same day instructed to serve the application papers on the Minister and other departmental functionaries joined as co-respondents in the matter.

The Minister and her co-respondents are to deliver any answering affidavits (should they wish to oppose the application) by Friday, 21 October 2011, whereafter FEIC will have an opportunity to reply thereto before the court hearing date, which is scheduled to take place in the first week of November 2011.

A copy of the Notice of Motion setting out the type of relief being sought by FEIC in the High Court is available for download from the Company's website: www.centralrandgold.com.

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

13 October 2011

Johannesburg

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Merchantec Capital