Mining Right - Update

Further to the announcements of 13 October 2011 and 24 October 2011, shareholders are advised that the Minister of Mineral Resources of the Republic of South Africa ("the Minister") and her departmental co-respondents have elected not to oppose the application instituted in the High Court by Ferreira Estate and Investment Company Limited ("FEIC"), a wholly-owned subsidiary of Central Rand Gold and the registered holder of the Company's mining right under departmental reference number GP30/5/1/1/2/140MR ("Mining Right"), for final relief to review and set aside the Minister's administrative decision, made on 22 September 2011, to cancel the Mining Right ("the Decision").

The parties have accordingly agreed to have the Decision set aside by way of a consent order (the "Order") sanctioned by the High Court.

An enrolment date of 22 December 2011 has been secured for purposes of obtaining this Order, on an unopposed basis and by agreement amongst the parties.

The granting of the Order would bring a conclusion to FEIC's legal challenge to the Decision.

CRG will continue to discuss its social and labour development plans with the Department of Mineral Resources in order to agree a plan that is more appropriate for CRG's revised mining plans

Further announcements will be made as appropriate.

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 Communications Limited +44 (0) 20 7466 5000

Bobby Morse / James Strong

Jenni Newman Public Relations (Proprietary) Limited +27 (0) 11 506 7351

Jenni Newman

12 December 2011

Johannesburg

JSE Sponsor

Merchantec Capital