Kenyan Gold Mine JV

Goldplat plc
13 June 2007


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


13th June 2007

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

      Enters next stage of development with Kenyan Gold Mine Joint Venture


Goldplat plc, the AIM listed gold producer, has formed a joint venture to
develop the gold potential of the highly prospective 213 sq km Lolgorien licence
area located in the historically producing Migori Archaean Greenstone Belt in
western Kenya, with a view of establishing a mining operation in the short term.
The agreement marks the next stage in the Company's strategy to create a
mid-tier mining house focused on gold production, leveraged through revenue
generated from its gold and PGM mining by-product processing operations in South
Africa and Ghana.


Under the joint venture agreement with International Gold Exploration AB
('IGE'), a Swedish mineral exploration company quoted on the Oslo Stock
Exchange, a new company will be formed in Kenya ('Newco') into which IGE will
provide the mineral rights and transfer all existing plant, equipment and
buildings on the Lolgorien licence area. Goldplat will provide Newco with cash
and/or services and equipment to the value of US$400,000. Thereafter, each party
will contribute equally to the costs of gold exploration and production and
share equally in profits generated.


The Migori Archaean Greenstone Belt, where the Lolgorien licence area is
located, is in the northern continuation of the Lake Victoria Goldfields, which
hosts many major gold deposits. This includes Barrick's multi-million ounce
North Mara mine, which lies approximately 40 km to the southwest of the
Lolgorien property. The neighbouring Macalder Mine, which produced 950 kg of
gold between 1935 and 1966 and now has a resource of 1.24 million ounces ('ozs')
gold, is currently being explored by a Canadian junior. The belt is exposed for
90 km along a northwest strike and is approximately 11 kms wide. The structure
of the Migori belt is considered to be a broad syncline with Lolgorien situated
on the southern, more highly strained limb.


The licence area has been the site of considerable historical gold mining and is
still the focus of artisanal mining. Official reports, starting from the early
1900s, show that between 1920 and 1950 the area produced nearly 1 million ounces
of gold.


Substantial exploration and mining has historically been undertaken on the
Lolgorien licence area and up to ten targets have already been identified by
Goldplat's geological team. Kilimapesa Hill is currently the highest priority
target, which is part of a 10 km long ridge of banded iron formation (BIF) on
which there is a 1,400 m section of artisanal gold mining workings. The BIF
typically varies in width between 10-20 m although some areas reach 30 m, and
the entire zone of mineralisation is up to 60 m wide. There is a marked
similarity between the Kilimapesa style of mineralisation and that of the 2.2
million oz gold sulphide replacement BIF mineralisation at Golden Ridge, and the
mineralisation of Geita in Lake Victoria Goldfields. Five adits developed during
the early 1900s have been recently re-sampled and confirm that high grade values
were mainly situated within the BIFs, although there were also some high values
recorded in quartz veinlets in the adjacent lithologies. A drift followed the
quartz vein for 70 m and rock chip samples frequently returned values between
10-20 g/t Au.


In 1999 IGE sunk a shaft and undertook development in the southern portion of
the licence area, focusing on quartz vein swarms which recorded rock-chip sample
grading between 1 g/t Au and 140 g/t Au. There is also considerable geochemical
and drill data available from previous exploration programmes in the 1980s and
1990s, which requires re-interpretation. A small processing plant is on the
property comprising a ball mill, gravity circuit and CIL leach tanks. Many other
small mines also exist on the property, which are either abandoned or are being
worked by artisanal miners.


Goldplat's initial focus is to proceed to resource definition by taking the
following steps:


 1. Collate all available geological and technical data and identify the most
    promising targets, which will be prioritised and further evaluated by;

   • Accessing old workings and sampling the target areas;
   • Trenching on surface;
   • Sampling of outcrop areas and other reef exposures; and
   • Primary development in accessible areas to access larger areas of the
    ore body.


 2. Define available mineral resources based on the above exploration followed 
    by feasibility studies.


Demetri Manolis, CEO of Goldplat said, 'This is an exciting first step towards
achieving Goldplat's strategy of becoming a leading mid-tier mining house
through acquisition. The Lolgorien licence area has significant historic
production and is in a region that houses some of Kenya's largest goldmines.
Kenya is an attractive country for us to operate in with an active Chamber of
Mines and a new Mining Act imminent, which is expected to reflect the liberal
philosophy of other countries such as neighbouring Tanzania. Using existing cash
resources we intend to initiate an extensive confirmatory exploration programme
to define a gold resource. We have the team and experience to make rapid
progress at Lolgorien and I believe that in a fairly short timeframe, we can
establish a gold mining operation in accordance with our strategy.'


                                  * * ENDS * *


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

Demetri Manolis, CEO     Goldplat plc                   Tel: [phone]
                                                        Mob: [phone]

James Joyce              WH Ireland Limited             Tel: [phone]

Isabel Crossley          St Brides Media & Finance Ltd  Tel: [phone]



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