Positive Nyieme Exploration Update Increases Re...

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
                                24 October 2011
                   Goldplat plc ('Goldplat' or 'the Company')
          Positive Nyieme Exploration Update Increases Resource by 61%

Goldplat  plc, the AIM  quoted gold producer,  is pleased to  provide a positive
exploration  update  at  its  246 sq  km  Nyieme  gold project ('Nyieme') in the
prospective Birimian Greenstone Belt in southern Burkina Faso, West Africa.

Overview
  * Prospectivity  of  brown  field  gold  project  increased significantly with
    completion of  3,100m reverse circulation programme
  * Nyieme Village high grade zone extended at depth and to the north - multiple
    additional anomalous zones identified up to 15m thick
  * Four  newly discovered mineralised  zones identified in  the A1 zone, 1.5 km
    south of the Nyieme Village high grade zone
  * Best intersections include 1m at 5.53 g/t, 1m at 4.14 g/t, 1m at 4.1 g/t and
    1m at 3.49 g/t
  * Resource  increase of  61% - 1,395,000 tonnes  at 2.06 g/t  gold for 92,589
    ounces at a cut-off of 1.0 g/t for all categories
  * Further  work programmes include testing the  depth and strike extensions of
    the  existing  zones  as  well  as  prospecting  other  identified artisanal
    workings.

Goldplat CEO Demetri Manolis said, "Nyieme is located in a prime geological area
within  a favourable structural corridor.  The  high grade Nyieme Village target
is  proving very  promising with  the latest  drilling confirming  extensions at
depth  and to the  north.  The four  new mineralised zones  identified at the A1
zone,  1.5 km  due  south  of  Nyieme  Village  and along the current 8 km known
strike, again underpin our geological model and the potential for Nyieme to host
a  significant  economic  gold  deposit.   With  these  latest  results  we have
increased  the current JORC  resource by 61% to  92,589 ounces, a figure that we
expect  to  increase  significantly  as  we  implement  our  planned development
programmes  which will test  the 11 identified prospective  zones as well as the
zones with extensive artisanal workings."

Exploration Results

The  Company completed a 30 hole  3,100m reverse circulation ('RC') programme at
Nyieme  (drilling  commenced  17 May  2011 and  was completed 7 June 2011) which
concentrated  on  the  Nyieme  Village,  A1,  and  D1  Zones,  three  of the 11
prospective target areas originally identified on the licence.

See link 1 at the bottom of the news release to view a map of the Nyieme licence
area and exploration targets.

Positive  results have been  received and successfully  tested the northerly and
the  depth extension of the previously drilled high grade Nyieme Village Zone, a
1.9 km anomaly with extensive artisanal workings containing several thick quartz
veins,  where the  maiden resource  was identified.   RC holes NYRC32 and NYRC57
drilled  to the north of the Nyieme Village Zone both intersected gold values of
1m at  3.11g/t and 1m at  1.85g/t.  In addition  Hole NYRC32  returned anomalous
gold  values over  the first  44m of the  hole and  NYRC57 showed  multiple gold
anomalous  zones including  one 10m thick  zone.  Holes  NYRC55 and  NYRC56 were
drilled  in the middle of the Nyieme  Village Zone and were positioned to target
the quartz vein ore body at depth.  Both holes also exhibited multiple anomalous
zones up to 15m thick.

In  the A1  Zone, situated  1.5 km to  the south-west  of the  high grade Nyieme
Village Zone, a 500m x 500m gold-in-soil anomalous area, 18 RC holes arranged in
4 north-west/  south-east  trending  fences  were  completed.  Four sub-parallel
north-north-east   trending   mineralised  zones  have  been  identified.   Best
intersections  of 1m at 5.53 g/t, 1m at 4.14 g/t,  1m at 4.1 g/t and 1m at 3.49
g/t have been received.  These four zones remain open to the north and south and
will be further tested in the future exploration programmes.

At  the D  Zone approximately  2 km to  the west  of the  Nyieme Village Zone, a
single  borehole (NYRC27) tested an area below historical artisanal workings and
intersected anomalous gold values over a width of 5m

A summary of the intersections is shown below

+------+------------------+--------+-------+---+------+------------------------+
|      |  UTM Zone 30 N   |        |       |   |      |   Best Intersection    |
|      |     (WGS84)      |        |       |   |      |                        |
|      +---------+--------+        |       |   |      +-----+----+------+------+
| Hole |Northing |Easting |  Zone  |Azimuth|Dip| Hole |From | To |  Au  |Width |
|  ID  |   (Y)   |  (X)   |        |       |   |Depth | (m) |(m) |(g/t) | (m)  |
|      |         |        |        |       |   | (m)  |     |    |      |      |
+------+---------+--------+--------+-------+---+------+-----+----+------+------+
|  NYRC|         |        |        |       |   |      |     |    |      |      |
|    27|  1245260|  505960|       D|    110| 60|    90|    1|   3|  0.81|     2|
+------+---------+--------+--------+-------+---+------+-----+----+------+------+
|  NYRC|         |        |        |       |   |      |     |    |      |      |
|    30|  1245250|  506425|        |      0| 60|    90|   30|  31|  0.42|     1|
+------+---------+--------+--------+-------+---+------+-----+----+------+------+
|  NYRC|         |        |        |       |   |      |     |    |      |      |
|    28|  1245250|  506455|        |      0| 60|    80|   78|  79|  0.25|     1|
+------+---------+--------+--------+-------+---+------+-----+----+------+------+
|  NYRC|         |        |        |       |   |      |     |    |      |      |
|    29|  1245240|  506455|        |      0| 60|   100|   48|  49|   0.2|     1|
+------+---------+--------+--------+-------+---+------+-----+----+------+------+
|  NYRC|         |        |        |       |   |      |         Barren         |
|    31|  1245250|  506500|        |      0| 60|    90|                        |
+------+---------+--------+--------+-------+---+------+-----+----+------+------+
|  NYRC|         |        |  Nyieme|       |   |      |     |    |      |      |
|    32|  1246520|  507825| Village|    290| 60|    70|   14|  19|  1.24|     5|
+------+---------+--------+--------+-------+---+------+-----+----+------+------+
|        Including        |        |       |   |      |   16|  18|  2.36|     2|
+-------------------------+--------+-------+---+------+-----+----+------+------+
|        Including        |        |       |   |      |   16|  17|  3.11|     1|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|  NYRC|   1246576| 507912|  Nyieme|    290| 60|   120|   45|  48|  1.05|     3|
|    57|          |       | Village|       |   |      |     |    |      |      |
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|       Including         |        |       |   |      |   45|  46|  1.85|     1|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|      |          |       |        |       |   |      |   53|  55|  1.19|     2|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|       Including         |        |       |   |      |   54|  55|  1.74|     1|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|  NYRC|   1245594| 507695|  Nyieme|    290| 60|   240|   60|  62|  1.18|     2|
|    56|          |       | Village|       |   |      |     |    |      |      |
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|       Including         |        |       |   |      |   60|  61|  1.62|     1|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|      |          |       |        |       |   |      |  143| 144|  3.49|     1|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|  NYRC|   1245556| 507624|  Nyieme|    290| 60|   238|   25|  26|  1.27|     1|
|    55|          |       | Village|       |   |      |     |    |      |      |
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|      |          |       |        |       |   |      |  144| 151|  0.79|     7|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|       Including         |        |       |   |      |  144| 148|  1.08|     4|
+-------------------------+--------+-------+---+------+-----+----+------+------+
|       Including         |        |       |   |      |  147| 148|  2.18|     1|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|  NYRC|          |       |        |       |   |      |     |    |      |      |
|    33|   1243130| 507100|      A1|    290| 60|   100|   16|  18|   3.2|     2|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|       Including         |        |       |   |      |   17|  18|  3.76|     1|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
| NYRC |          |       |        |       |   |      |                        |
|  34  |   1242850| 507030|      A1|    290| 60|   100|         Barren         |
+------+----------+-------+--------+-------+---+------+------------------------+
|  NYRC|          |       |        |       |   |      |                        |
|    35|   1242835| 507075|      A1|    290| 60|   100|         Barren         |
+------+----------+-------+--------+-------+---+------+------------------------+
|  NYRC|          |       |        |       |   |      |                        |
|    36|   1242820| 507120|      A1|    290| 60|   100|         Barren         |
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|  NYRC|          |       |        |       |   |      |     |    |      |      |
|    37|   1242800| 507167|      A1|    290| 60|   100|   73|  74|  0.45|     1|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|  NYRC|          |       |        |       |   |      |         Barren         |
|    38|   1242730| 506820|      A1|    110| 60|   100|                        |
+------+----------+-------+--------+-------+---+------+------------------------+
|  NYRC|          |       |        |       |   |      |         Barren         |
|    39|   1242715| 506850|      A1|    110| 60|   100|                        |
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|  NYRC|          |       |        |       |   |      |     |    |      |      |
|    40|   1242700| 506917|      A1|    110| 60|   100|   10|  12|  2.51|     2|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|       Including         |        |       |   |      |   11|  12|  4.14|     1|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|  NYRC|          |       |        |       |   |      |         Barren         |
|    41|   1242680| 506965|      A1|    110| 60|   100|                        |
+------+----------+-------+--------+-------+---+------+------------------------+
|  NYRC|          |       |        |       |   |      |         Barren         |
|    42|   1242610| 506960|      A1|    110| 60|   100|                        |
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|  NYRC|          |       |        |       |   |      |     |    |      |      |
|    43|   1242595| 507005|      A1|    110| 60|    66|     |    |      |      |
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|  NYRC|          |       |        |       |   |      |     |    |      |      |
|    44|   1242580| 507050|      A1|    110| 60|   100|   67|  68|  1.95|     1|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|      |          |       |        |       |   |      |   98|  99|  1.01|     1|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|  NYRC|   1242560| 507100|      A1|    110| 60|    57|     |    |      |      |
|    45|          |       |        |       |   |      |    3|   4|  1.01|     1|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|  NYRC|   1242470| 507000|      A1|    110| 60|   100|     |    |      |      |
|    46|          |       |        |       |   |      |   68|  71|  1.33|     3|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|       Including         |        |       |   |      |   69|  70|   2.5|     1|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|      |          |       |        |       |   |      |   94|  96|  2.01|     2|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|       Including         |        |       |   |      |   94|  95|   2.8|     1|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|  NYRC|   1242490| 506940|      A1|    110| 60|   100|                        |
|    47|          |       |        |       |   |      |         Barren         |
+------+----------+-------+--------+-------+---+------+------------------------+
|  NYRC|   1242505| 506890|      A1|    110| 60|   100|                        |
|    48|          |       |        |       |   |      |         Barren         |
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|  NYRC|          |       |        |       |   |      |     |    |      |      |
|    49|   1242520| 506845|      A1|    110| 60|   100|   90|  93|  2.23|     3|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|       Including         |        |       |   |      |   90|  91|  5.53|     1|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|  NYRC|   1242540| 506800|      A1|    110| 60|   100|   97| 100|   1.7|     3|
|    50|          |       |        |       |   |      |     |    |      |      |
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|       Including         |        |       |   |      |   97|  98|   4.1|     1|
+------+----------+-------+--------+-------+---+------+-----+----+------+------+
|  NYRC|          |       |        |       |   |      |         Barren         |
|    51|   1242320| 508200|        |    110| 60|    80|                        |
+------+----------+-------+--------+-------+---+------+------------------------+
|  NYRC|          |       |        |       |   |      |         Barren         |
|    52|   1242250| 508190|        |    110| 60|    80|                        |
+------+----------+-------+--------+-------+---+------+------------------------+
|  NYRC|          |       |        |       |   |      |         Barren         |
|    53|   1242250| 508180|        |    290| 60|    80|                        |
+------+----------+-------+--------+-------+---+------+------------------------+
|  NYRC|          |       |        |       |   |      |                        |
|    54|   1239427| 506115|        |    270| 60|    80|         Barren         |
+------+----------+-------+--------+-------+---+------+------------------------+
Resource
The  updated  JORC-compliant  gold  resource  has  increased 61% over the maiden
resource  declared  in  December  2010 to  1,395,000 tonnes at 2.06 g/t gold for
92,589 ounces  at a cut-off of  1.0 g/t for all categories.   At a 0 g/t cut-off
the  JORC compliant  resource is  5,613,000 tonnes at  0.88 g/t Au  for 156,756
ounces.  Ordinary Kriging was used as the estimation technique. The resource has
been  calculated over 4.5 km of a potential 8 km strike, which the Board believe
with further exploration will significantly raise the resource.

The  resource at the Nyieme Village Zone has been extended to the north by 100m
and  the zone is now defined for a  total strike length of 1.9 km.  In addition,
the  two deeper holes have confirmed the depth extension of the quartz veins ore
body to approximately 140m below surface.

The four new prospects at the A1 zone have contributed 31,576 oz gold at a 1 g/t
cut-off to the total resource.

Table 1 - Resource by category from a cut-off value of 0 g/t to 1 g/t

+-------+----------------------+-----------------------+-----------------------+
|  Au   |      Indicated       |       Inferred        |    Total Resources    |
+-------+---------+-----+------+---------+-----+-------+---------+-----+-------+
|Cut-off| Tonnes  |Grade|Ounces| Tonnes  |Grade|Ounces | Tonnes  |Grade|Ounces |
|  g/t  |         |     |      |         |     |       |         |     |       |
+-------+---------+-----+------+---------+-----+-------+---------+-----+-------+
|      0|1,653,000| 0.92|46,680|3,960,000| 0.86|110,075|5,613,000| 0.88|158,755|
+-------+---------+-----+------+---------+-----+-------+---------+-----+-------+
|    0.1|1,571,000| 0.96|48,486|3,595,000| 0.95|109,441|5,166,000| 0.95|157,928|
+-------+---------+-----+------+---------+-----+-------+---------+-----+-------+
|    0.2|1,491,000| 1.00|48,079|3,562,000| 0.95|109,276|5,053,000| 0.97|157,355|
+-------+---------+-----+------+---------+-----+-------+---------+-----+-------+
|    0.3|1,355,000| 1.08|46,961|3,327,000| 1.00|107,291|4,682,000| 1.02|154,252|
+-------+---------+-----+------+---------+-----+-------+---------+-----+-------+
|    0.4|1,063,000| 1.28|43,710|2,910,000| 1.10|102,661|3,973,000| 1.15|146,371|
+-------+---------+-----+------+---------+-----+-------+---------+-----+-------+
|    0.5|  858,000| 1.48|40,770|2,464,000| 1.21| 96,179|3,322,000| 1.28|136,949|
+-------+---------+-----+------+---------+-----+-------+---------+-----+-------+
|    0.6|  735,000| 1.63|38.565|2,111,000| 1.32| 89,844|2,846,000| 1.40|128,409|
+-------+---------+-----+------+---------+-----+-------+---------+-----+-------+
|    0.7|  567,000| 1.92|35,054|1,699,000| 1.49| 81,159|2,266,000| 1.60|116,213|
+-------+---------+-----+------+---------+-----+-------+---------+-----+-------+
|    0.8|  455,000| 2.21|32,328|1,483,000| 1.59| 75,965|1,938,000| 1.74|108,293|
+-------+---------+-----+------+---------+-----+-------+---------+-----+-------+
|    0.9|  393,000| 2,42|30,589|1,279,000| 1.71| 70,410|1,672,000| 1.88|100,999|
+-------+---------+-----+------+---------+-----+-------+---------+-----+-------+
|      1|  305,000| 2.85|27,946|1,090,000| 1.84| 64,642|1,395,000| 2.06| 92,588|
+-------+---------+-----+------+---------+-----+-------+---------+-----+-------+

Further Exploration and Development Work

Goldplat's  geological  model  which  it  developed  from  previous  exploration
programmes  is proving to be robust and will continue to form the basis on which
future  exploration and  resource delineation  work is  carried out.   A further
exploration programme is being planned to extend the resources at the previously
explored  Nyieme Village  Zone and  A1 zone  and also  will focus  on additional
target areas identified at Nyieme.

Further work planned is as follows:

  * Continue to drill test the northerly extension of the Nyieme Village Zone
  * Drill  test the unexplored  gap between the  Nyieme Village Zone  and the A1
    zone 1.5 km to the south
  * Drill  test the four zones at the A1 Zone which remain open to the north and
    south
  * Drill test the depth extensions of the zones at A1 Zone
  * Investigate the D Zone for a possible new zone
  * Drill artisanal workings located 3 km to the south of the A1 Zone
  * Conduct  further  exploration  on  the  extension  of considerable artisanal
    workings immediately south of the Nyieme Licence
  * Investigate  other  targets  that  were  highlighted  after the initial soil
    sampling programme conducted in early 2011

An  announcement detailing the finalised plans for the next phase of exploration
will be made in due course.

Qualified Person

This  announcement has been reviewed by Mr. Mark Austin, the group geologist for
Goldplat  who has  more than  30 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.

Glossary of Terms

Measured  Resource:  the 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: the 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: the  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.

Ordinary   Kriging:   Kriging  is  the  estimation  procedure  used  in  spatial
geostatistics  using  known  values  Ordinary  Kriging  is the commonest type of
 Kriging.


                                  * * ENDS * *

For further information visitwww.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  profitable,  debt free gold producer and mine
development  company focussed in  Africa.  The Company  has a solid portfolio of
assets  which includes  two gold  recovery operations  in South Africa and Ghana
which  takes by-products from  the mining process  and processes them to recover
gold  and produced  c.28,000 ounces  of gold  FY 2011.  In addition Goldplat has
three brownfield gold development projects in Kenya, Ghana and Burkina Faso with
near term resource upgrade and production potential.

Goldplat aims to have delineated in excess of 1 million ounces of resources from
its  three gold mining development projects by  H1 2012.  In line with this, the
Company  has implemented  defined exploration  and development programmes across
each  of its  projects with  the view  of developing  multiple profitable mining
operations in the near to medium term.







Link 1 - Nyieme Map: 


http://hugin.info/138177/R/1557035/480617.pdf




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