Toll Treating & Site Visit

Central Rand Gold Limited

("CRG" or the "Company" or the "Group")

(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 2007/0192231/10)

ISIN: GG00B24HM601

Share code on LSE: CRND

Share code on JSE: CRD

07 February 2011

Following Central Rand Gold ("CRG" or "the Company") February 3rd announcement wherein reference was made to plans to delay planned metallurgical upgrades and pursue short term arrangements to process excess mining production the following update is announced:

Toll treating

The Company together with Mintails SA (Pty) Limited and Mogale Gold (Pty) Limited (collectively referred to as MSA) have identified a commercially beneficial opportunity arising from participating in a venture in terms of which CRG shall contribute gold bearing ore for processing at MSA's metallurgical gold processing plant.

The main terms governing this arrangement are as follows:

·; The arrangement shall commence on the 4 February 2010 and thereafter endure for a period of 90 calendar days ("the Pilot Phase");

·; MSA shall contribute a proportion of their milling and processing capabilities of its Mogale Gold operations whilst CRG shall contribute 14 000 tons of gold bearing ore per month for processing;

The parties have established that each stands to incur an opportunity cost for entering into this agreement and it is the intention of the parties to first fully recoup such opportunity and related operational costs, where after the two parties will share in the profits, based on a grade sliding scale.

Site visit

An analyst site took place on Sunday 06 February 2011. During this visit a presentation was made to the analysts, a copy of which may be accessed on the Company website: www.centralrandgold.com 

For further information, please contact:

Johan du Toit +27 (0) 11 674 2304

Patrick Malaza +27 (0) 11 674 2304

Enquiries:

Evolution Securities Limited +44 (0) 20 7071 4300

Rob Collins / Chris Sim / Neil Elliot

Macquarie First South Advisers (Pty) Ltd +27 (0) 11 583 7000

Annerie Britz / Melanie de Nysschen/ Yvette Labuschagne

Buchanan Communications Limited +44 (0) 20 7466 5000

Bobby Morse / Katharine Sutton / James Strong

Jenni Newman Public Relations (Pty) Ltd +27 (0) 11 506 7350

Jenni Newman