Ghana - progress report

Goldplat plc
11 May 2007


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


11 May 2007

                   Goldplat plc ('Goldplat' or 'the Company')

                      Progress Report on Ghana Operations


The directors of Goldplat PLC are pleased to announce that substantial progress
has been made towards bringing the new plant in Ghana, operated by the wholly
owned subsidiary Gold Recovery Ghana Limited ('GRG'), into full production.


Plant Construction


Stage one of construction at the free port of Tema, Ghana, has been completed.
This includes the office building, change house, security building, electrical
sub-station, container loading ramp, process building, material storage
containers and the installation of the incinerators. The property is surrounded
by a brick wall and steel gates and has 24 hour security guards. A supervisor
and production staff have been appointed. These staff members are Ghanaian
citizens.


Completion of stage one has meant that processing fine carbon, steel and rubber
mill liners and similar high value materials is under way.


The second phase of construction is now in progress. This will enable GRG to
process lower value gold bearing materials similar to those presently processed
in South Africa.

A mill has been selected and is being refurbished at the group's facility in
Benoni for shipment to Ghana. Gravity concentrators have been ordered and a
quotation has been obtained for the CIL tanks which we propose to order from a
Ghanaian company. This second stage will allow GRG to reach its full planned
production capability later this year.


Processing and raw materials


As stated above, GRG has commenced production of gold. To date 14 kg of gold
have been produced from 108 tons of raw material and GRG is already operating
profitably. Further material has been processed to the concentrate stage and is
being stockpiled at Tema for bulk shipping to Rand Refineries.


The procurement of raw material is an essential element for GRG to be
successful, and the directors are very encouraged by progress to date.


The contract with Anglogold Ashanti's Obuasi mine was referred to in the
Goldplat Admission document and has subsequently been renewed and extended to
include mill liners and grease.. Fine carbon has also been secured from Golden
Star Mining's Wassa mine and from Central African Gold's Bibiani mine. Mill
liners have been secured from Obuasi, from Redback Mining's Chirano mine and
from Wassa. In addition, mill grease has been secured from Obuasi.


Supplies of mill liners and grease are currently being negotiated with another
Anglogold Ashanti operation at Iduapriem as well as from Bibiani.


Taken together these contracts will mean that GRG has a steady flow of materials
for processing.


The board is also encouraged at the progress made in securing materials to be
processed though the CIL plant, when construction is complete. In addition to
materials similar to those processed in South Africa, it has become clear that
small scale mining in Ghana has resulted in tailings which are an environmental
liability and at the same time contain much higher concentrations of gold that
those found in South Africa. The Ghana Minerals Commission provided GRG with a
list of the licensed small workers which contains approximately 100 license
holders. Visits to some of these licence holders and the initial sampling of the
tailings on their properties indicate that the processing of this material in
Tema will be economically viable. Testwork on one of the stockpiles provided a
head grade of 14.7g/t and a gold recovery of 43.5% using a standard gravity
concentration process and 92% recovery on the middlings and gravity tails using
the CIL process. An official testwork report has been obtained. This initiative
is supported by the authorities in Ghana. A more detailed evaluation of the
volumes of tailings available and the gold grade is being undertaken.


These visits have resulted in other opportunities being presented. In
particular, the acquisition of gold in a form with a much higher grade and the
acquisition of gold mining properties and their subsequent development into
small mining operations are two examples of the opportunities available.


Commenting on progress in Ghana, Demetri Manolis, CEO of Goldplat, said, 'The
Ghana operation is only one area where Goldplat is making rapid progress. The
opportunities available to us to enter the junior mining area have exceeded
expectations, and some of our cash flow has been used to investigate these
opportunities. For that reason, the board took a decision to reduce the rate of
development in Ghana while maintaining profitability by stepping up South
African production. Despite the change of emphasis, production in Ghana
commenced precisely on schedule and I remain convinced of the excellent
prospects for GRG.'


                                  * * ENDS * *


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

Demetri Manolis,           CEO Goldplat plc                 Tel: [phone]
James Joyce                WH Ireland Limited               Tel: [phone]
Isabel Crossley            St Brides Media & Finance Ltd    Tel: [phone]



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