Conclusion of payment to IGE for Kilimapesa Gold

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
                                  12 May 2011
                   Goldplat plc ('Goldplat' or 'the Company')
                Conclusion of payment to IGE for Kilimapesa Gold

Goldplat plc, the AIM quoted gold producer, announces that it has agreed a final
one  off payment of US$800,000 to its former Joint Venture partner International
Gold  Exploration IGE AB ('IGE') for  final settlement of IGE's 50% shareholding
in  Kilimapesa  Gold  Ltd,  the  holding  company  for  Goldplat's  wholly owned
Kilimapesa  Gold Project in Kenya.  This final payment agreement translates into
a  reduction  of  US$700,000  in  the  announced  acquisition  consideration  to
US$2,000,000 (see news release 17 June 2009 and 24 September 2009).

Goldplat's  strategy with regard to the  Kilimapesa Gold Project, located in the
historically producing Migori Archaean Greenstone Belt in western Kenya, remains
to  advance this highly  prospective site by  recommencing mining, and expanding
the  current JORC-compliant resource of 1.65Mt at  2.44 g/t Au for 129,000 oz of
gold at a cut-off grade of 1 g/t of gold for all categories, to a targeted level
in  excess of 500,000 oz Au.   In line with this,  the Company has implemented a
defined development strategy, results of which will be published in due course.

Goldplat  CEO Demetri Manolis said, "This is excellent news for shareholders and
represents  a significant reduction of the originally agreed consideration.  The
development  of the Kilimapesa Gold Project is part of the Company's strategy of
building  and  advancing  a  portfolio  of  brownfield  gold  projects  in known
mineralised  zones with production history.  The Company has additional projects
that  are being  advanced in  Ghana and  Burkina Faso  which it believes through
exploration  and development will  lead to a  significant increase in Goldplat's
overall  resource base.  Updates on these  developments are expected in the near
term,  as well as  from the gold  recovery operations in  South Africa and Ghana
which continue to perform strongly; and we look forward to updating shareholders
with our progress in realising Goldplat's inherent value."

                                  * * 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 entered into  a Memorandum of Agreement with Gulf
Coast  Resources Inc ('Gulf'), a Canadian mining company for the acquisition 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.






This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
    
Source: Goldplat plc via Thomson Reuters ONE

[HUG#1514805]