Share Options

For immediate release 24 February 2010

Central Rand Gold Limited ('CRG' or 'the Company')

(Incorporated as a company with limited liability under the laws of Guernsey, Company Number 45108)

(Incorporated as an external company with limited liability under the laws of South Africa, registration number 2007/019223/10)

ISIN: GG00B24HM601

Share code on LSE: CRND

Share code on JSE: CRD

Share options granted to Johan du Toit

CRG announces that at the meeting held on Wednesday, 10th February 2010, the Board of Directors of the Company approved the grant of options over 1,500,000 shares in the Company to the Chief Executive Officer, Johan du Toit.

The options will vest in three equal tranches with the first tranche vesting on 10 February 2011, the second tranche a year thereafter and the final tranche vesting on 10 February 2013.

The first tranche has an exercise price of £0.20; the second tranche an exercise price of £0.40 and the third tranche an exercise price of £0.60. Each of the three tranches will remain exercisable for a period of three years after vesting and will be capable of being exercised in part or in full at any time after vesting and during the exercise period.

Issued on behalf of: Central Rand Gold Limited

Date: 24 February 2010

For further information, please contact

Central Rand Gold

Johan du Toit / Patrick Malaza +27 (0) 11 551 4000

Evolution Securities Limited +44 (0) 20 7071 4300

Simon Edwards / Chris Sim / Neil Elliot

Macquarie First South Advisers (Pty) Ltd +27 (0) 11 583 2000

Thembeka Mgoduso / Melanie de Nysschen

Buchanan Communications Limited +44 (0) 20 7466 5000

Bobby Morse / Ben Willey / Katharine Sutton

Jenni Newman Public Relations (Pty) Ltd +27 (0) 11 506 7300

Jenni Newman / Megann Outram