South Africa Gold Recovery Operations BEE Compl...

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining &
                             Exploration
6 October 2008
             Goldplat plc ('Goldplat' or 'the Company')
 South Africa Gold Recovery Operations Compliant with Black Economic
                          Empowerment Rules
Goldplat plc, the AIM listed gold producer, announces that its  South
African subsidiary, Goldplat Recovery  (Pty) Limited ('GRL'), is  now
compliant with  the  country's  Black  Economic  Empowerment  ('BEE')
rules.  This follows  the sale of  15 per cent.  of the issued  share
capital of GRL to Dartingo Trading 161 (Pty) Limited ('Dartingo'),  a
wholly owned subsidiary of Amabubesi Capital (Pty) Limited, which was
formed for  the purpose  of this  transaction.  Compliance  with  BEE
rules will facilitate Goldplat  Recovery's business in South  Africa,
enabling it  to  acquire or  apply  for  mining rights,  as  well  as
improving its  competitive  position when  tendering  for  processing
contracts.
The GRL  shares were  sold  for a  total  consideration of  ZAR  15.3
million (£1.01 million), of which, 50 per cent. is payable in cash on
completion, and  the balance of 50% is payable over a minimum  period
of three years, from  dividends to be declared  by GRL.  At the  same
time a shareholders' agreement with Dartingo has been signed  setting
out the basis of future cooperation.
The BEE rules comprise the Broad-Based Black Empowerment Act No 53 of
2003, read  together  with the  mining  charter, BEE  codes  of  good
practice and  the Mineral  and Petroleum  Resources Development  Act.
 These require  15  per cent  of  GRL  to be  owned  by  Historically
Disadvantaged South Africans by 1  May 2009, as stated in  Goldplat's
Admission Document. The percentage needs to increase to 26% by 1  May
2014.
Goldplat CEO  Demetri  Manolis  said,  "I  am  delighted  to  welcome
Amabubesi Capital as our  BEE Partner and I  believe together we  are
ideally positioned  to  take advantage  of  a number  of  interesting
mining  opportunities  within   South  Africa.    Through  this   BEE
partnership, GRL will  have access to  additional gold producers,  as
well as the owners of mining  rights, which will allow GRL to  expand
on its  current  gold related  asset  base and  activities  in  South
Africa.
Interestingly, the  share sale  was completed  at a  higher price  in
comparison to many BEE transactions that take place, which highlights
the value of the Company's South African operations."
                            * * ENDS * *

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

Demetri  Manolis, CEO     Goldplat plc                Tel: [phone]
                                                      1203
James Joyce /Sarang Shah  WH Ireland Limited          Tel: [phone]
                                                      1666
Bill Sharp/Andrew Garrett Alexander David Securities  Tel: +44 (0)20
                          Limited                     7448 9820
Felicity Edwards/ Isabel  St Brides Media & Finance   Tel: [phone]
Crossley                  Ltd                         1177


Notes
Goldplat plc  is  an  AIM-listed gold  producer  with  operations  in
Africa. Its strategy is to create a mid-tier mining house focused  on
gold production  leveraged through  revenue generated  from its  gold
recovery businesses.
The Company  has two  recovery business  based in  South African  and
Ghana, which, by  safely disposing of  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'Ivorie, Senegal, the DRC and Mauritania, as well as Ghana.
Goldplat has expanded  into gold  mining through  the acquisition  of
known deposits with targets of between 200,000 and one million ounces
of ore contained.  To this end, in  a 50/50 JV, it is developing  the
potential of the highly prospective 213 sq km Lolgorien licence  area
located in the historically producing Migori Archaean Greenstone Belt
in western Kenya, which is scheduled to commence production Q4 2008.
A number of other potential projects across Africa are under review.

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