Canal+ Regulatory News (CAN)

11 Sep 2008 07:00



Central African Gold Plc / Ticker: CAN / Market: AIM / Sub-sector: Gold Mining

11 September 2008

Central African Gold Plc ('CAG' or the 'Company')

Appoints new CFO

Central African Gold Plc, the AIM traded gold mining and exploration company, is pleased to announce the appointment of Craig Campbell, 38, to the Senior Management team as the Company's Chief Financial Officer with immediate effect. 

Craig Campbell, C.A. (S.A.) has over 12 years of financial experience predominantly within the mining arena. Most recently he served as Executive Director of BRC DiamondCore Ltd. ('BRC DiamondCore'), after joining Diamond Core Resources Limited ('Diamond Core') as Chief Financial Officer, where he also served as an Executive Director.  During his time at Diamond Core he had significant exposure to the development of significant exploration projects, corporate governance and corporate finance, where he was instrumental in closing and implementing the C$100 million merger between BRC DiamondCore and Diamond Core.

Additionally, Craig has held other financial directorships and financial management positions for various companies, including BRC DiamondCore and Diamond Core, as well as companies operating in the retail and manufacturing sectors. 

Greg Hunter, Chief Executive Officer of CAG, said: "Craig has extensive experience working within the mining and exploration sector and is ideally qualified to support CAG in the development of its gold production and exploration assets. We have already built a solid portfolio and are rapidly advancing all our projects, with the intention of continuing to build on our resource base in Ghana, Mali, Zimbabwe and Botswana. However, in order to advance the Company further, we understand the need to invest in high quality people and so we are delighted to welcome Craig to the team. He will provide valuable assistance to CAG, particularly in view of his extensive financial knowledge and the strong relationships he has built in the African resources sector."

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For further information please visit www.centralafricangold.com or contact:

Notes to Editors:

Central African Gold Plc, admitted to AIM in April 2004, was established to acquire gold assets with a geographical focus on Africa. The Company has established a sound portfolio with projects in Ghana, Mali, Zimbabwe and Botswana. It has a highly experienced management team, which has worked together for four years managing six underground greenstone gold mining operations and building exploration portfolios.

CAG's portfolio includes the developing Bibiani gold mine and two prospecting licences in Ghana, which it acquired from AngloGold Ashanti Limited, three joint ventures in Mali covering 17 prospective permits and a licence in Botswana covering the extension of the Kraaipan greenstone belt from South Africa. During 2007 CAG acquired 5 gold mines and extensive exploration properties in Zimbabwe. The management team is evaluating additional prospects in Africa to establish CAG as a leading mid-tier African gold producer with world class exploration and production assets.