Kenyan Gold Update

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining &
                             Exploration
26 October 2007
             Goldplat plc ('Goldplat' or 'the Company')
                Kenyan Lolgorien Licence Area Update

Goldplat Plc, the AIM listed gold producer, is pleased to provide  an
update with regards to  its ongoing evaluation  programme at its  50%
owned  joint  venture  Lolgorien  project  within  the   historically
producing Migori Archaean  Greenstone Belt in  south western Kenya.
Its  joint   venture  partner   is   Oslo  and   Swedish-NGM   listed
International Gold Exploration AB ("IGE").

Highlights


  * Kilimapesa Hill - Rock chip sampling at a  3m spacing in a strike
    drive has identified a stretch of 42m at 10.13 g/t gold ("Au")
  * Kilimapesa Hill - two parallel auriferous veins, situated
    approximately 60m apart can be traced over a strike length of
    600m
  * Kilimapesa Hill - auriferous quartz veins can be traced along
    surface for up to 1.2km as marked by artisanal workings
  * Alpha Ray and Red Ray - Induced Polarisation ("IP") surveying has
    defined a geophysical anomaly 2 km in length striking east-west
  * Alpha Ray and Red Ray - Drill programme planned to test the
    quartz veins currently being worked by artisanal miners at
    surface level
  * Tailings derived from colonial operations have been auger drill
    sampled and a JORC compliant mineral resource of 51,648t at
    2.52g/t Au defined.
  * Planning a refurbishment programme on existing gold processing
    plant on site providing short term production potential


 Demetri Manolis, CEO of Goldplat said, "These results represent  yet
another step towards  achieving our  strategy of  becoming a  leading
mid-tier gold mining house.  Historical workings and artisanal mining
attracted us to this prospect and the results from the first phase of
our evaluation programme are  highly encouraging.  Importantly,  this
initial evaluation  programme aimed  at defining  a mineral  resource
from the surface tailings was completed ahead of schedule and  within
budget.  As a result, we are  delighted to be in a position where  we
can plan a refurbishment programme on an existing plant, with the aim
of processing the ore produced  from primary and tailings targets  in
the near future."

Results

The joint venture initially identified 10 prospective targets in  its
Lolgorien project.  Its current  areas of focus are Kilimapesa  Hill,
Alpha Ray and Red Ray, and Maghor:

Kilimapesa Hill - Adits
Five adits have now been groove sampled and four strike drives, which
were previously developed on quartz veins, were channel sampled.  The
mapping of  two adits  in  Kilimapesa Hill  shows that  two  parallel
veins, situated approximately 60m apart, can be traced over a  strike
length of  600m.  Rock  chip  sampling  at  a  3m  spacing  from  the
western-most adit, Adit B, has returned a 42m stretch averaging 10.13
g/t over a stoping width of 1.4m. Samples taken from the eastern  and
western  extremities   of   the   drives  confirm   that   the   gold
mineralisation continues to the  east and west as  well as at  depth.
 In addition, rock chip  samples taken up to  4.5m on either side  of
the quartz vein  show gold  values up  to 3.7  g/t Au,  demonstrating
that, in  this area,  gold is  not merely  restricted to  the  quartz
veins.

The  quartz  veins  lie  within  intercalated  shales,  banded   iron
formations  and   greywacke   metasediments.   Correlation   of   the
stratigraphy and quartz veins has  been proved by geological  mapping
in the  adits and  of  the surface  artisanal workings.  The  surface
expression  of   the  veins,   as  marked   by  artisanal   workings,
demonstrates a potential strike length of 1.2 km.

Maghor, and Alpha Ray and Red Ray - Geophysics
Two IP programmes were completed at  the Maghor target area, and  the
Alpha Ray  and  Red  Ray target  area.  IP  at the  Maghor  area  has
identified   chargeability   and   resistivity   highs   over   fault
intersections, which  are  coincident  with  the  site  of  artisanal
activity. The  IP at  the Alpha  Ray  and Red  Ray target  areas  has
identified a high chargeability and resistivity anomaly 2km in length
striking east-west,  which is  considered to  be the  IP response  to
quartz veins currently being mined by artisanal miners.

Tailings
Tailings derived from colonial operations in the mid-1900s have  been
auger drill sampled and a JORC compliant mineral resource defined  by
external consultants.     Combined measured,  indicated and  inferred
mineral resources are 51,648t at 2.52g/t  Au.  The majority of  these
tonnes lie within  200 metres of  the existing plant  infrastructure.
Initial gravity  and carbon-in-leach  metallurgical testwork  on  the
colonial tailings show that recoveries are  in excess of 65%, and  on
the ore derived from the quartz vein ore bodies in excess of 85%.

Current Resource Estimates - Lolgorien Licence


Category    Tonnes Grade (g/t) Contained Ozs.
Measured    11862      1.7          648
Indicated   29171     2.91          2725
Inferred    10615      2.4          819
  Total     51,648    2.52         4,192

Note: the figures stated above are the gross resource and the
Company's net interest in the project is 50%.

Next Steps

At Kilimapesa Hill  the next  phase is  to increase  exposure of  the
quartz veins. The  existing reef  drives at Kilimapesa  Hill will  be
extended to  the  east and  west  with a  total  of five  ends  being
developed. The joint venture is also planning to develop an adit some
40-50m vertically below  the existing  adits to access  the down  dip
extension of the quartz veins.

At Red Ray and Alpha Ray the adits will be developed to intersect the
quartz veins currently  being worked by  artisanal miners at  surface
level.  It is  anticipated that up to  four development ends will  be
created. Further  drilling along  strike will  help to  evaluate  the
quartz veins as indicated by the IP response. All material  emanating
from development along  quartz veins  will be  stockpiled for  future
processing.

Some of the other IP targets  are considered drill-ready and will  be
drilled when the large  capacity RC drill  rig, currently in  transit
from  Sweden  and  scheduled  for   arrival  in  November  2007,   is
operational.

Goldplat  and  IGE  are  sufficiently  satisfied  as  to  the  future
potential  of  the   targets  selected  to   now  start  planning   a
refurbishment programme on the  existing plant. A metallurgical  team
is currently  assessing  the work  required  to get  the  plant  into
working condition. The plant is in a good condition.

Further details

The joint  venture, in  which the  Company has  a 50%  interest,  was
signed in July  2007 with Oslo  and Swedish-NGM listed  International
Gold Exploration AB  ("IGE") and  registered in  Kenya as  Kilimapesa
Gold (Pty) Ltd., has adopted a phased approach for the development of
the highly prospective Lolgorien project.  The initial phase involved
an evaluation  of the  10 selected  targets within  the licence  area
including sampling  within existing  adits  developed in  the  1980s,
undertaking IP  programmes, and  shallow auger  drilling of  historic
tailings. This phase was completed  on budget ('$109,000') and  three
weeks ahead of schedule.  Notably, the current work is expected to be
financed from existing cash resources.

The Migori Archaean Greenstone Belt, where the Lolgorien licence area
is  located,  is  a  northern  continuation  of  the  Lake   Victoria
Goldfields, which hosts many major gold deposits including  Barrick's
multi-million ounce North Mara mine,  which lies approximately 40  km
to the southwest  of the Lolgorien  property.  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.

                            * * 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]


Notes

The underground chip sampling was done using a pneumatic Atlas  Copco
rock hammer. The samples were  assayed by Set Point Laboratories  Ltd
in Johannesburg. Samples were milled in an LM2 mill to a nominal  85%
passing 75µm. A 50g sub-sample of the  assay pulp is fused in a  lead
collection fire assay  with silver as  a co-collector. The  resulting
prill is dissolved in aqua regia and presented for ICP-OES finish  to
quantify the gold content in the sample. Detection limits were set at
0.01 ppm. The joint  venture uses blanks  and certified standards  to
ensure QA-QC.  The  values received  from  Set Point  displayed  high
correlation with the inserted controls.

References in this announcement to exploration results and  potential
have been approved  for release  by Mr Mark  Austin. Mr  Austin is  a
geologist and  has more  than 25  years' 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.

The results of the surface deposits evaluation were the subject of an
Independent  report  by   Shango  Solutions   of  Johannesburg.   The
geostatistics in the report were  performed by Dr Carina Lemmer,  PhD
(Stanford).


Glossary of Terms
STRIKE: the horizontal  direction of a  planar body (90º  to the  dip
direction)
INDUCED  POLARISATION  (IP):  a  geophysical  method  utilising   the
electric properties of minerals.
TAILINGS: the residues from the processing of ore
ADIT: a near-horizontal tunnel driven into a hillside
AUGER  DRILLING:  a  drilling   method  to  evaluate   unconsolidated
sediments
SHALE: fine grained laminated sediment
BANDED IRON FORMATION: an iron-rich sediment with layers of chert and
iron minerals
GREYWACKE: an immature sandstone
METASEDIMENTS: sediments that have been subjected to metamorphism and
still retaining some of their original textures
CARBON-IN-LEACH: a  metallurgical process  by which  granular  carbon
adsorbs gold in solution
DRIVE: a tunnel on strike that is developed on ore
DIP: the inclination of a planar surface (90º to strike)
PRILL: a button of gold derived from the assaying process
AQUA REGIA:  a  mixture  of  hydrochloric and  nitric  acid  used  to
dissolve prills in the assay process
MEASURED RESOURCE:   that  portion of  a mineral  resource for  which
tonnage,  densities,  shape,  physical  characteristics,  grade   and
mineral content can be estimated with a high level of confidence.  It
is based on detailed and  reliable exploration, sampling and  testing
information gathered through workings and drill holes. The  locations
are  spaced  closely  enough  to  confirm  geological  and/or   grade
continuity.
INDICATED RESOURCE:    that part  of  a mineral  resource  for  which
tonnage,  densities,  shape,  physical  characteristics,  grade   and
mineral  content  can  be  estimated  with  a  reasonable  level   of
confidence.  It  is  based  on  exploration,  sampling  and   testing
information gathered  though  appropriate techniques  from  locations
such as  outcrops,  trenches, pits,  workings  and drill  holes.  The
locations  are  too  widely  or  inappropriately  spaced  to  confirm
geological and/or grade continuity but are spaced closely enough  for
continuity to be assumed.
INFERRED RESOURCE: that part of a mineral resource for which tonnage,
grade and  mineral content  can  be estimated  with  a low  level  of
confidence. It is inferred from  geological evidence and assumed  but
not verified  geological and/  or grade  continuity. It  is based  on
information gathered  through appropriate  techniques from  locations
such as outcrops, trenches, pits, workings and drill holes which  may
be limited or of uncertain quality and reliability

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