Memorandum of Agreement to Acquire Mining Right...

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
                                23 November 2010
                   Goldplat plc ('Goldplat' or 'the Company')
           Memorandum of Agreement to Acquire Mining Rights in Ghana

Goldplat plc, the AIM quoted gold producer, announces that it has entered into a
Memorandum  of  Agreement  with  Gulf  Coast  Resources Inc ('Gulf'), a Canadian
mining  company for the  acquisition of Gulf's  wholly-owned subsidiary company,
Gulf  Coast Resources Limited ('GCR').  GCR  owns the Banka Mining Concession, a
ten  year renewable  mining lease  for gold  and associated minerals covering an
area  of 29 square kilometres located in the  Amansie East and Asante Akim South
Districts  of the  Ashanti Region  of the  Republic of  Ghana ('the Banka Mining
Lease').

Overview:
  * Memorandum  of Agreement signed to acquire GCR and a 90% interest in the 29
    sq km Banka Gold Mining Lease located in the prospective Ashanti gold region
    in Ghana
  * Goldplat  has paid Gulf US$50,000 and  will undertake a due diligence review
    of the Banka Mining Lease and GCR
  * Subject  to due  diligence, acquisition  consideration is  US$1,500,000 with
    Gulf  to receive a 1.5 % Net Smelter  Return on all gold production from the
    Banka Mining Lease
  * Detailed  geology shows  that the  conglomerates at  the Banka  Mining Lease
    outcrop on surface and can be traced continually over 4 kms
  * Previous exploration include best intersections of 12 meters at 29.42 g/t Au
    and 9 meters at 57.7 g/t Au
  * Intention  to implement  a development  programme to  prove up  the economic
    viability of the Banka Mining Lease and define a JORC compliant resource


Goldplat  CEO Demetri Manolis said, "Banka represents a substantial and exciting
gold  prospect in the Ashanti Region of Ghana, a prime district for gold project
development.   Early work indicates the prospectivity of the licence area and we
have  defined a  development plan  aimed at  publishing a  JORC resource  in due
course.  Importantly small scale trial production has already taken place.  This
proposed  acquisition represents Goldplat's continued  commitment to building on
its  position as a gold producer in Africa and creating a highly profitable mid-
tier gold company."

GCR  holds a 90% interest  in the Banka  Mining Lease with  the Ghana Government
holding  the  remaining  10% as  a  statutory  free  carried or non-contributing
interest.  By the terms of the Banka Mining Lease, GCR was granted the exclusive
right  to enter, mine, extract and sell  gold and diamonds from the area covered
by  the Banka  Mining Lease  subject to  the terms  and conditions  of the Banka
Mining Lease.

On  3 February 2010 GCR  applied to  the Government  for a  renewal of the Banka
Mining  Lease  and  the  said  application  is  still under consideration by the
Government  as  at  the  date  hereof  pending  which  GCR has lawfully retained
possession of and interest in the Banka Mining Lease.

The  Memorandum of  Agreement is  intended to  lead to  the signing  of a formal
agreement ('the Formal Agreement').  Goldplat has paid Gulf the sum of US$50,000
and will undertake a due diligence review of the Banka Mining Lease and GCR.

Completion of the acquisition is conditional on:

 a. completion of successful due diligence by Goldplat,
 b. delivery  by  Gulf  of  the  renewed  Banka  Mining  Lease and EPA Permit to
    Goldplat; and
 c. delivery  by  Gulf  of  a  letter  from  the  Minister  of Lands and Natural
    Resources  approving the  sale of  GCR and  assignment of  the renewed Banka
    Mining Lease to Goldplat.


Following  the satisfaction of  these conditions Goldplat  will purchase GCR and
the 90% interest in the Banka Mining Lease (excluding Plant and Machinery) for a
consideration  of US$1,500,000 subject to  the retention by Gulf  of a 1.5 % Net
Smelter  Return on all gold production from the Banka Mining Lease.  The Company
will  pay US$1,000,000 on the completion of  due diligence and the renewed Banka
Mining Lease, and a final US$500,000 on the first anniversary.

Banka Mining Lease

The  29 sq km Banka  Mining Lease is  located approximately 40 km  north east of
AngloGold's Obuasi gold mine in the Amansie East and Asante Akim North Districts
of the Ashanti Region in Ghana.

The Banka Mining Lease is underlain by Tarkwaian sediments dipping approximately
60° to  the east.   Several bands  of conglomerate,  separated by greywackes and
arenites,  are present on the property and exhibit impressive strike continuity.
 The detailed geology shows that the conglomerates outcrop on surface and can be
traced continually over 4 kms.  Previous exploration programmes conducted on the
property  by  GCR  have  classified  the  conglomerates into Western and Eastern
zones,  the Eastern zone being stratigraphically  below the Western zone and the
preferred target for exploration.

Several  vertical shafts also exist on the  property which have been accessed by
GCR.    Underground  development  comprises  on-reef  drives  and  sampling  has
indicated grades of up to 25 g/t of gold ('Au').

Additionally,  three zones from  other sampling taken  previously in the Eastern
limb of the Banka Mining Licence were reported as follows:

Site  A: (located near Tokwae) received assay results ranging from 12.2g/t Au to
34.7g/t Au  from samples taken  from historic dumps  while grab samples from the
reef workings ranged from 1.6g/t Au to 6.7g/t Au.

Site  B: (located between Tokwae and Banka)  grab samples from the reef returned
assays ranging from 1.5g/t Au and 21.4 g/t Au.

Site  C: old workings were deemed  extensive, on-reef trenches of 1.2 metres and
2.7 metres assayed at 19.92g/t Au and 28.11g/t Au respectively.

EquiGold  NL completed 2,699 metres of  Reverse Circulation drilling in 42 holes
on  the three  sites with  the highest  concentration of  drill holes on site C.
 Previous  drill results  through C-Zone  include intersections  of 12 meters at
29.42 g/t  Au and  9 meters at  57.7 g/t Au.   These are  the reported grades to
date,  however further work will be required to fully evaluate the extent of the
gold mineralisation.

Table 1 outlines a non-JORC compliant mineral resource statement calculated from
previous  exploration programmes.  It comprises resources  from Zones B and C at
the  project and is calculated to  100m below surface.  This resource is limited
in  its aerial extent however  collation of all the  current data available will
result in a clearer understanding of the orebody.

Table 1
+--------------+--------------+---------+-----------+---------+-------+
|Location      |Classification|         |Grade (g/t)|   Tonnes|  Oz Au|
+--------------+--------------+---------+-----------+---------+-------+
|C-Zone Block 1|  Indicated   |  Reef   |       3.90|   13,700|1,718  |
+--------------+--------------+---------+-----------+---------+-------+
|C-Zone Block 2|  Indicated   |Grit/reef|       3.27|  372,100|39,126 |
+--------------+--------------+---------+-----------+---------+-------+
|C-Zone Block 3|   Inferred   |  Reef   |       1.75|  540,000|30,386 |
+--------------+--------------+---------+-----------+---------+-------+
|B-Zone        |   Inferred   |  Reef   |       3.35|1,263,600|136,111|
+--------------+--------------+---------+-----------+---------+-------+
|Total         |              |         |       2.95|2,189,400|207,341|
+--------------+--------------+---------+-----------+---------+-------+

The  Newmont gold mine, Akyem, lies 35 kms along strike to the east and that the
orebody  is  comprised  of  a  low  grade high tonnage open-pittable resource in
excess of 7 million oz Au.

Conditional  on completion  it is  the Company's  intention to  undertake a work
development programme to enable a JORC compliant resource to be calculated.

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 visitwww.goldplat.com or contact:
 Demetri  Manolis   Goldplat plc                    Tel: [phone]

 James Joyce        WH Ireland Limited              Tel: [phone]

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

 Hugo de Salis      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 highly profitable mid-tier gold company, leveraged through revenue
generated from its gold recovery businesses.

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'Ivorie, Senegal, the DRC and
Mauritania, as well as Ghana.

Goldplat's  strategy is to  build itself into  a highly profitable 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 has
resulted in a maiden JORC compliant resource being reported in October 2009.

In  December 2009 Goldplat plc  entered into an  agreement with Sanu Exploration
(BVI)  Limited ('Sanu'), a  wholly  owned  subsidiary  of NGEX Resources Inc, to
acquire  Sanu's option over the 246 sq km Nyieme Gold Project ('Nyieme') located
in  Burkina  Faso.  The  Nyieme  exploration  licence  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.

Additionally,  the Company has entered into  a Memorandum of Agreement with Gulf
Coast  Resources Inc ('Gulf'), a Canadian  mining company for the acquisition of
Gulf's  wholly-owned subsidiary  company, Gulf  Coast Resources Limited ('GCR').
 GCR owns the Banka Mining Lease, a ten year renewable mining lease for gold and
associated  minerals covering  an area  of 29 square  kilometres located  in the
Amansie  East  and  Asante  Akim  South  Districts  of the Ashanti Region of the
Republic of Ghana.









[HUG#1464628]








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