Banka Mining Lease Ghana - Technical report

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
                                  7 June 2011
                   Goldplat plc ('Goldplat' or 'the Company')
                  Banka Mining Lease Ghana - Technical report

Goldplat  plc, the AIM  quoted gold producer  focussed in Africa,  is pleased to
provide a positive technical summary report for its recently acquired c.29 sq km
Banka  Mining Lease ('Banka' or  'the Project'), in the  Amansie East and Asante
Akim  South Districts  on the  eastern margin  of the highly prospective Ashanti
Gold Belt in southern Ghana.

Overview
  * Independent  report,  compiled  by  SEMS  Exploration  Services,  ('SEMS') a
    leading mineral exploration consultancy in West Africa, highlights potential
    for significant gold mineralisation

  * Banka is 10 km southwest of Newmont's Akyem deposit (circa 14Moz Au)
  * Previous  diamond core drilling programmes  clearly defined significant high
    grade gold intersections located within a broad low grade mineralised zone -
    4 km strike with surface outcropping
  * Previous drill results include intersections of 0.8 metres at 13.2g/t Au and
    1 metre at 11.30 g/t Au
  * Previous  artisanal activity in  the area -  historical mine records suggest
    artisanal  miners  were  exploiting  a  gold  resource  estimated to be at a
    grading of up to 26.9 g/t Au
  * Current  initial non JORC compliant resource of  262,107 oz Au to a depth of
    100 metres  -  report  suggests  significant  potential  to upgrade this and
    increase the resource with infill drilling - potential for increase depth of
    drilling to 250 metres
  * Immediate  plan to  implement a  defined development  programme at  Banka to
    define a JORC compliant resource


Goldplat's  CEO  Demetri  Manolis  said,  "This  technical  report underpins the
prospectivity  of  Banka  in  Ghana  for  gold.   Early exploration work already
suggests  that there  is potential  for a  significant resource.   Our aim is to
rapidly  advance this brown-field  gold project, convert  and raise the existing
gold resource to a JORC compliant status, and develop Banka in the mid-term into
a profitable mining operation.

"The  development of Banka  forms part of  the Company's strategy  of building a
solid portfolio of advanced gold mining projects in recognised mineralised areas
with  production history.  We  continue to explore  and develop our other mining
projects  in Kenya and Burkina Faso, which  I believe in conjunction with Banka,
will give Goldplat the potential to generate a target resource base of in excess
of  one  and  a  half  million  ounces  of  gold  by  1H 2012.  Updates on these
developments  are expected in the  near term, as well  as from our platform gold
recovery operations in South Africa and Ghana which continue to perform strongly
and profitably."

SEMS  technical summary statement of potential  for economic gold occurrences at
Banka, Ghana

Banka  straddles the eastern margin of the  Ashanti Gold Belt in southern Ghana.
 The Project is licensed with the Minerals Commission of Ghana as a Mining Lease
which covers 29.63 square kilometres and is located ten kilometres southwest of,
and  along strike from, Newmont  Mining Corporation's  ('Newmont') Akyem deposit
(circa 14Moz Au).

The  geological setting of Banka  is similar to that  of the Akyem property with
Birimian  volcanosedimentary rocks  occurring to  the east  of the  property and
Banket  conglomerate horizons trending in a north easterly direction through the
western   portion.    Newmont's   Akyem   deposit  occurs  within  the  Birimian
volcanosedimentary units and the massive gold deposits of Tarkwa occur in Banket
conglomerate  horizons similar to those seen in the central and western portions
of Banka concession.

Gold  has  been  mined  from  one  of  the  Banket  conglomerates,  the 'eastern
conglomerate', for more than one hundred years with the Adansi Syndicate sinking
four  vertical shafts in  1910.  Mine records suggest  the Adansi Syndicate were
exploiting  a resource estimated to be grading  at up to 26.9 g/t Au.  Today the
eastern  conglomerate  horizon  continues  to  be  exploited on a small scale by
artisanal miners from nearby villages.

Since  the  Adansi  Syndicate's  mining  operations  (1910 to 1913), very little
exploration  work has been  completed at Banka  until Mwana Africa Ltd ('Mwana')
entered into a joint venture with the local licence holders in 2006.

Mwana   completed  two  diamond  core  drilling  programmes  along  the  eastern
conglomerate  on wide  spaced drill  lines (200-800 metres  between sections).
This  work clearly defined a  broad low grade mineralised  zone (20 to 50 metres
wide  @ 0.35 g/t  Au) extends  from the  Banka village  to the Tokwae village, a
distance of 4.2 km, along the eastern conglomerate.  Within the broad, low grade
mineralised envelope significant high grade intersections were recorded.

All  significant gold  mineralisation identified  to date  at Banka has occurred
within  the  eastern  Banket  conglomerate  horizon.   Some  of the better drill
intersections  are presented below  however it must  be noted that these results
are not representative of all historic programs in their entirety.

+------------+------+------+-------+------------+-------+
|   Hole #   | From |  To  | Width | Drill Type |  g/t  |
+------------+------+------+-------+------------+-------+
| AERC06     | 25.0 | 26.0 |   1.0 |     RC     |  8.21 |
+------------+------+------+-------+------------+-------+
| AERC11     | 42.0 | 43.0 |   1.0 |     RC     | 14.67 |
+------------+------+------+-------+------------+-------+
| AERC20     | 35.0 | 36.0 |   0.3 |     RC     | 11.00 |
+------------+------+------+-------+------------+-------+
| 06BAEDD004 |  0.9 |  1.2 |   0.3 |    Core    | 10.70 |
+------------+------+------+-------+------------+-------+
| 06BAEDD006 | 59.5 | 59.8 |   0.3 |    Core    |  6.87 |
+------------+------+------+-------+------------+-------+
| 06BAEDD006 | 60.8 | 61.1 |   0.3 |    Core    | 14.90 |
+------------+------+------+-------+------------+-------+
| 06BAEDD006 | 61.4 | 61.7 |   0.3 |    Core    |  9.52 |
+------------+------+------+-------+------------+-------+
| 06BAEDD006 | 61.7 | 62.0 |   0.3 |    Core    |  8.93 |
+------------+------+------+-------+------------+-------+
| 06BAEDD006 | 62.9 | 63.2 |   0.5 |    Core    |  6.30 |
+------------+------+------+-------+------------+-------+
| 06BAEDD015 | 56.5 | 57.0 |   1.0 |    Core    | 10.90 |
+------------+------+------+-------+------------+-------+
| 06BAEDD015 | 61.6 | 62.6 |   0.4 |    Core    |  7.25 |
+------------+------+------+-------+------------+-------+
| 06BAEDD015 | 85.9 | 86.3 |   0.4 |    Core    |  9.60 |
+------------+------+------+-------+------------+-------+
| 07BAEDD038 | 93.2 | 93.6 |   0.8 |    Core    |  7.27 |
+------------+------+------+-------+------------+-------+
| 07BAEDD040 | 34.4 | 35.2 |   0.8 |    Core    | 13.20 |
+------------+------+------+-------+------------+-------+
| 07BAEDD040 | 35.2 | 36.0 |   1.0 |    Core    | 11.30 |
+------------+------+------+-------+------------+-------+
| 07BAEDD040 | 47.2 | 48.2 |   1.0 |    Core    |  7.60 |
+------------+------+------+-------+------------+-------+

Mwana  attempted to estimate a mineral resource for the eastern conglomerate but
found  that high grade mineralisation could not be reliably traced between their
wide  spaced drill sections.  Mwana concluded that a Non-JORC 'tangible blue sky
mineral  resource' containing  262,107 ounces of  gold to  a depth of 100 metres
could  be  upgraded  and  increased  with  infill  drilling.  This assumption is
supported  by experiences  with other  conglomerate hosted  ore bodies in Ghana,
such  as the  Tarkwa and  Damang gold  mines, where  tighter grade control drill
patterns often increase mineral resources and reserves.

Considerable  potential  exists  within  Banka  to increase the current Non-JORC
mineral  resource.   The  primary  target  for  gold  exploration is the eastern
conglomerate  horizon where it is proposed  that the resource might be increased
by:

  * A  closer spaced drill pattern for the full length of the conglomerate unit.
     Mwana  limited its drilling to the south western two thirds (2.5 km) of the
    eastern conglomerate.  Closer spaced drilling is likely to identify new high
    grade  zones  and  to  enable  a  more  continuous  resource wireframe to be
    created.


  * A  number of higher  grade intersections occur  in isolated drill holes over
    the  north eastern portion of the eastern conglomerate.  Additional drilling
    may  define resource  blocks that  are not  included in the current resource
    estimation.


  * Deeper  drilling  under  the  eastern  conglomerate.  All Mwana drilling was
    restricted  to the top  100 to 150 metres of  the eastern conglomerate zone.
     If  continuous zones of  >10 g/t mineralisation  can be defined  then it is
    suggested  that the depth  of drilling should  be doubled to 250 metres from
    surface.   It should be noted  that mineralised Banket conglomerate horizons
    in  Ghana  are  generally  continuous  units  that  have not be subjected to
    intense  deformation.   At  Tarkwa  such  conglomerates have been traced for
    considerable depths.


Other prospective zones within Banka which may host gold mineralisation are:

  * The western conglomerate horizon which lies approximately 1.3 km to the west
    of  the eastern  conglomerate.  This  zone stretches  for 3.7 km  in a north
    easterly  direction and has been rock chip sampled at regular intervals.  To
    date  results have not been  encouraging but if this  horizon is the western
    limb  of the same  conglomerate unit mined  by the Adansi  Syndicate then it
    should  be  tested  by  drilling  at  depth.   It  should  be noted that the
    northernmost  500 metre portion  of the  western conglomerate  is coincident
    with  anomalous  soil  geochemistry  values.   This  has not previously been
    investigated.


  * The  relationship between the eastern and western conglomerate is not clear.
     Previous  interpretations have  assumed they  are two  limbs of a synformal
    structure  and therefore the same horizon - as suggested in the point above.
     However,  it is possible  that the eastern  conglomerate is part  of a much
    larger  regional  synform  which  would  mean  the western conglomerate is a
    separate,  younger  conglomerate  horizon.   Such  an  interpretation  would
    greatly  increase the depth potential  of mineralisation associated with the
    eastern conglomerate.


      * The  Tarkwaian/Birimian contact and Birimian volcanosedimentary units to
        the  east of  Banka provide  a similar  geological setting  to the Akyem
        deposit  so  may  host  a  similar  style  of gold mineralisation.  Soil
        geochemistry has not identified any significant anomaly in this area but
        subsurface  testing  of  structural  targets  may  be  justified  in the
        future.


Qualified Person

This  announcement has been reviewed by Mr. Mark Austin, the group geologist for
Goldplat  who has  more than  25 years of  relevant experience  in the  field of
activity  concerned.  He is a  fellow of the Geological  Society of South Africa
('GSSA')  and has  consented to  the inclusion  of the  material in the form and
context in which it appears.

                                  * * ENDS * *

For further information visit www.goldplat.com or contact:

Demetri  Manolis, CEO Goldplat plc                  Tel: [phone]

James Joyce           WH Ireland Limited            Tel: [phone]

Felicity Edwards      St Brides Media & Finance Ltd Tel: [phone]


Notes

Goldplat  plc is  an AIM-listed  gold producer  with operations  in Africa.  Its
strategy  is to consolidate its position as  a gold producer in Africa and build
itself into a mid-tier gold company.

The  Company has two recovery businesses based in South Africa and Ghana, which,
by safely disposing mining by-products, fulfil an important aspect of the mines'
environmental  management programmes.  The  South African plant  is located near
the  centre of the East  Rand Goldfield and raw  material feedstocks are sourced
from  many  of  the  major  South  African mining companies, including AngloGold
Ashanti,  Goldfields, Harmony, DRD Gold and  other smaller producers.  The Ghana
plant,  located in the free port of  Tema, provides access to raw materials from
mines  in Mali, Guinea, Burkina Faso, Benin,  Cote D'Ivore, Senegal, the DRC and
Mauritania, as well as Ghana.

Goldplat's  strategy is to  build itself into  a mid-tier gold producer, through
the  acquisition  of  known  deposits  with  targets  of between 200,000 and one
million  contained  ounces.   Kilimapesa  Gold  is  a wholly owned subsidiary of
Goldplat and is developing the potential of the 213 sq km Lolgorien licence area
located in the historically producing Migori Archaean Greenstone Belt in western
Kenya.   Kilimapesa  Gold  commenced  initial  production in January 2009 and an
aggressive  exploration  and  development  programme  resulted  in a maiden JORC
compliant resource being reported in October 2009.

Goldplat  also has an  option over the 246  sq km Nyieme Gold Project located in
Burkina Faso, which includes known high-grade quartz vein structures, with drill
core results showing  up to  17.83 g/t gold  over one  metre and  11.67 g/t over
five metres.  A maiden resource was announced in December 2010 of 685,000 tonnes
at  2.61 g/t  Au  for  57,501oz Au  at  a  cut-off  grade  of 1.0 g/t Au for all
categories but the Company hopes to increase this through further exploration.

Additionally, the Company has acquired the Banka Mining Lease, a ten year
renewable mining lease for gold and associated minerals covering an area of 29
sq km located in the Amansie East and Asante Akim South Districts of the Ashanti
Region of the Republic of Ghana.  The Company is now implementing a defined
development plan with a view to proving a JORC compliant resource.






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Source: Goldplat plc via Thomson Reuters ONE

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