New Dawn Mining Private Placement

Central African Gold Plc / Ticker: CAN / Market: AIM / Sub-sector: Gold Mining

Central African Gold Plc ('CAG' or 'the Company')

New Dawn Mining Raises CAN$7,520,850 in Non-Brokered Private Placement at CAN$1.80 per share

Central African Gold Plc, the AIM quoted gold mining and exploration company, notes an announcement released by its 88.68% shareholder New Dawn Mining Corp (TSX:ND) ('New Dawn'), on 9 November 2010. 

The announcement, which is set out in full below, relates to a private placement by New Dawn of 4,178,250 common shares, with several funds managed by an international investment firm based in the UK, at a placing price of CAN$1.80 per share, raising proceeds totalling CAN$7,520,850.

"Toronto, Ontario, November 9, 2010 - New Dawn Mining Corp. (TSX: ND) ("New Dawn" or the "Company") announced that it has completed a non-brokered private placement with several funds managed by an international investment firm based in the UK at CAN$1.80 per share with the issuance of 4,178,250 common shares for proceeds totalling CAN$7,520,850.

The private placement did not include any warrants, and there were no brokerage commissions paid. The private placement shares are subject to a four month hold period..

The proceeds will be utilized for general working capital purposes and to advance gold production and mine development at the Company's three operating gold camps in Zimbabwe. In particular, the proceeds will be used in part to fund the working capital requirements of Central African Gold Plc ("CAG"), as well as to expand gold production at CAG's gold mining operations in Zimbabwe. As previously reported, the Company acquired its investment consisting of an 89% controlling interest in CAG in June 2010.

New Dawn now has 42,204,843 common shares outstanding and 48,240,257 shares outstanding on a diluted basis.

About New Dawn …

New Dawn is a Zimbabwe-focused junior gold company currently expanding gold production at its wholly-owned Turk and Angelus Mines and, with its June 2010 investment in which it acquired an 89% controlling interest in Central African Gold Plc ("CAG"), New Dawn is targeting consolidated annualized gold production of 50,000 to 60,000 ounces within the next 18 to 24 months, increasing to 100,000 ounces of annualized gold production within the next 4 to 5 years.

Having recently filed a new NI 43-101-compliant mineral reserve and resource estimate for the CAG properties, New Dawn's total attributable mineral reserves, including its Turk and Angelus Mines, increased 32% to 220,000 ounces of gold grading 3.81 g/t from 1,785,000 tons of mineralized material. The attributable mineral reserves are comprised of attributable proven mineral reserves of 109,400 ounces of gold grading 3.69 g/t from 874,700 tons of mineralized material and attributable probable mineral reserves of 110,600 ounces of gold grading 3.78 g/t from 910,300 tons of mineralized material.

Additionally, New Dawn's total attributable measured and indicated mineral resources (inclusive of attributable mineral reserves) increased by 92% to 1,558,400 ounces of gold grading 2.37 g/t from 20,436,000 tons of mineralized material and New Dawn's total attributable inferred mineral resources increased by 54% to 552,600 ounces of gold grading 4.95 g/t from 3,477,000 tons of mineralized material.

Presently, New Dawn operates 3 significant gold camps in Zimbabwe, where it owns 6 mines, 3 of which are currently producing gold and expanding production annually. Ultimately, New Dawn looks to becoming a leading gold mining company in Zimbabwe, active in both gold production and gold exploration, by employing modern mining techniques and deploying capital in a country that is geologically rich, highly prospective, and vastly under explored.

Additional information on New Dawn's gold reserve and resource estimates is included at the Company's website at www.newdawnmining.com or in the Company's filings on SEDAR at www.sedar.com.

The TSX has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

The contents of this news release were supervised and reviewed by Ian R. Saunders, B.Sc., who is President, Chief Executive Officer, and a Director of New Dawn Mining Corp., and who is a Qualified Person within the meaning of NI 43-101.

For Further Information:

Investor Relations Contact: Richard Buzbuzian +1 416.585.7890

President and Chief Executive Officer: Ian R. Saunders +1 416.585.7890

Visit us on the internet: http://www.newdawnmining.com or

Email us at: [email protected]

Special Note Regarding Forward-Looking Statements:  Certain statements included or incorporated by reference in this news release, including information as to the future financial or operating performance of the Company, its subsidiaries and its projects, constitute forward-looking statements. The words "believe," "expect," "anticipate," "contemplate," "target," "plan," "intends," "continue," "budget," "estimate," "may," "schedule" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding targets, estimates and assumptions in respect of gold production and prices, operating costs, results and capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Such factors include, among others, risks relating to reserve and resource estimates, gold prices, exploration, development and operating risks, political and foreign risk, uninsurable risks, competition, limited mining operations, production risks, environmental regulation and liability, government regulation, currency fluctuations, recent losses and write-downs and dependence on key employees. See "Risk Factors" in the Company's Annual Information Form - 2009. Due to risks and uncertainties, including the risks and uncertainties identified above, actual events may differ materially from current expectations. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. Forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or results or otherwise."

**ENDS**

For further information please visit www.centralafricangold.comor contact:

Notes to Editors

CAG

Central African Gold Plc is a gold mining company with a portfolio of production, development and exploration assets in Zimbabwe, where the Company operates through two subsidiaries, Falcon Gold Zimbabwe Limited (84.7 per cent. owned) and Olympus Gold Mines Limited (100 per cent. owned). Through these subsidiaries, CAG has four main gold mines, the Dalny, Old Nic, Golden Quarry and Camperdown mines, which arelocated in the highly prospective Kadoma, Shurugwi and Bulawayo gold regions in Zimbabwe.

NDM

The Company's 88.68% shareholder is Toronto Stock Exchange listed New Dawn Mining Corp. ('NDM'), a gold company with a broad portfolio of production and exploration assets also in Zimbabwe. NDM owns and operates the Turk and Angelus Mines in the upper southwest area of Zimbabwe, which it believes have the potential to produce an estimated 35,000 to 50,000 ounces of gold per annum. It is NDM's objective to orchestrate the development of CAG's mining operations and exploration portfolio, as well as its own, to become a mid-tier gold producer focussed in Zimbabwe, with a consolidated annualised gold production to between 50,000 and 60,000 ounces within the next 18 to 24 months, increasing to 100,000 ounces within the next 4 to 5 years.