Completion of purchase of Banka Mining Lease - ...

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration

26 May 2011

                   Goldplat plc ('Goldplat' or 'the Company')
              Completion of purchase of Banka Mining Lease - Ghana

Goldplat plc, the AIM quoted gold producer focused in Africa, announces that its
wholly  owned  subsidiary  company  Banka  Gold  (Ghana)  Limited  completed the
purchase of the Banka Mining Lease from Gulf Coast Resources Ghana Limited.  The
Banka  Mining Lease ('Banka') is a ten  year renewable mining lease for gold and
associated minerals, granted by the Government of Ghana, over an area of c.29 sq
km  located  in  the  Amansie  East  and  Asante  Akim  South  Districts  of the
prospective Ashanti Region of the Republic of Ghana.

Banka  is held  subject to  a 10% carried  interest owned  by the  Government of
Ghana,  and  Gulf  Coast  Resources  Inc,  the  parent company of the vendor, is
entitled   to  receive  a  net  smelter  royalty  of  1.5% of  gold  sold.   The
consideration  for the  purchase, which  has been  settled out  of existing cash
resources of Goldplat, was USD 1.6 million.

On  23 November  2010 Goldplat  announced  that  it  had  signed a Memorandum of
Agreement to acquire Gulf Coast Resources Ghana Limited, the holder of the Banka
Mining  Lease,  subject,  inter  alia,  to  the  completion  of satisfactory due
diligence.   Following  completion  of  such  due  diligence  it was agreed that
Goldplat  would   acquire  the  Banka  Mining  Lease  itself.   Goldplat  is now
finalising  its proposals for  further exploration and  development of the Banka
Mining  Lease.  An announcement  of these proposals,  together with a summary of
the results of the technical due diligence, will be made in due course.

Goldplat  CEO Demetri  Manolis said,  "We are  delighted to  have finalised this
acquisition  as we believe  Banka represents a  substantial gold prospect in the
Ashanti  Region of Ghana,  a prime district  for gold project development.  Work
completed to date indicates the prospectivity of the licence area and we plan to
establish  a  JORC  compliant  resource,  and  ultimately commence a significant
mining  operation.   Banka,  along  with  the  Company's solid portfolio of gold
projects  in Burkina Faso,  Kenya, South Africa  and Ghana underlines Goldplat's
continued  commitment to building  its position as  a highly profitable mid-tier
gold company in Africa."

                                  * * 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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