First Gold Pour at Kenyan Gold Project

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
17 January 2012
Goldplat plc ('Goldplat' or 'the Company')
First Gold Pour at Kenyan Gold Project

Goldplat plc, the AIM quoted gold producer, is delighted to announce that it has poured the first gold from its wholly owned Kilimapesa Gold Mine in Kenya ('Kilimapesa'), following the successful commissioning of the Elution Plant.  The Elution Plant enables Kilimapesa to smelt and produce gold bullion on site on an ongoing basis. The initial smelt produced a 12.4kg (399 ounces) gold bullion bar which has now been sold to Rand Refinery Limited in South Africa.

Kilimapesa has now resumed full underground exploration and development operations as well as focussing on increasing the JORC resource at the project towards 500,000 ounces of gold.  Planning is also progressing well to increase the plant capacity to 3,000 tonnes per month.

Goldplat CEO Demetri Manolis said, "Kilimapesa's first gold pour marks a significant milestone for both the Company and Kenya as we continue to develop the country's first gold project to have received a mining licence into a profitable mining operation.  In addition, we have a defined development programme in place to expand the resource base towards the 500,000 ounce mark and increase gold production towards 10,000 ounces per annum.

"Finally, I would like to take this opportunity to acknowledge with appreciation the support we have received from Ministry officials of the Government of Kenya and in particular the Minister for Environment and Mineral Resources Hon. John N. Michuki."

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.

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

Demetri  Manolis, CEO	Goldplat plc	Tel: [phone]
Ewan Leggat/Katy Birkin	Fairfax I.S. PLC	Tel: [phone]
Felicity Edwards	St Brides Media & Finance Ltd	Tel: [phone]

Notes

Goldplat plc is an AIM-listed profitable, debt free gold producer and mine development company focussed on Africa.  The Company has a solid portfolio of assets which includes two gold recovery operations in South Africa and Ghana which takes by-products from the mining process and processes them to recover gold.  Total production for FY 2011 was c.28,000 ounces of gold.  In addition, Goldplat has a producing gold mine in Kenya and two brownfield gold development projects in Ghana and Burkina Faso with near term resource upgrade and production potential.

Goldplat aims to have delineated in excess of 1 million ounces of resources from its three gold mining development projects by H1 2012.  In line with this, the Company has implemented defined exploration and development programmes across each of its projects with the view of developing multiple profitable mining operations in the near to medium term.  

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Source: Goldplat plc via Thomson Reuters ONE

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