Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
23 August 2010
Goldplat plc ('Goldplat' or 'the Company')
Kenya Operations Update
Goldplat plc, the AIM quoted gold producer, is pleased to announce that,
following the conditional approval of the Mining Lease for its Kilimapesa Hill
gold mining project ('Kilimapesa') as announced on 22 July 2010, the
Commissioner of Mines and Geology of the Republic of Kenya has given his
permission for Kilimapesa Gold's processing plant to commence commercial gold
production, while the Company awaits the finalisation of the mining lease. The
underground operations at Kilimapesa will be kept in abeyance until the routine
registration process of the cadastral survey submission with the Director of
Survey is completed.
Work on recommissioning the processing plant has already started and Goldplat's
management expect that it will be at a full processing capacity of 1,000 tonnes
of ore per month by early September 2010. The existing stockpiles are expected
to provide enough mill feed until full underground operations resume.
Goldplat CEO Demetri Manolis said, "Naturally we are delighted that we have been
given the green light by the Commissioner of Mines and Geology in Kenya to
produce gold commercially at Kilimapesa. Our near-term objective remains the
establishment of a profitable small mine producing circa 5,000-6,000 oz of gold
per year within 12 months of being issued the Mining Licence.
"Importantly I would like to thank the Ministry of Mines and Geology for their
assistance with Kilimapesa Gold, and as a Company, Goldplat look forward to
working with them in developing Kenya's resource industry."
   ** ENDS * *
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.
For further information visit www.goldplat.com or contact:
Demetri Manolis, CEO Goldplat plc Tel: +27 (0) 11 423 1203
James Joyce WH Ireland Limited Tel: +44 (0) 20 7220 1666
Felicity Edwards St Brides Media & Finance Ltd Tel: +44 (0)20 7236 1177
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. Goldplat has started a programme of
trenching and diamond drilling in order to prove up and expand the existing
mineralisation.
[HUG#1439354]
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Source: Goldplat plc via Thomson Reuters ONE
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