Canal+ Regulatory News (CAN)

2 Jul 2008 17:46



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

2 July 2008

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

Directorship Change

Central African Gold Plc, the AIM traded gold mining and exploration company, announces that Chief Financial Officer, Charles Prentice, is stepping down from the Board of Directors with immediate effect.  He has agreed to remain available to the Company for a reasonable period of time to ensure a smooth handover. The Company would like to thank Charles for all his hard work and wish him well for the future.  CAG is in the process of looking for a suitable replacement for which the Board has a number of suitable candidates in mind and hopes to make an announcement in due course.

CAG CEO, Greg Hunter, said, "I would like to thank Charles for all his help since joining the Company and wish him well for his future endeavours. We are now actively looking for a strong replacement to further help us achieve our objective of building a mid-tier African based gold company and have a number of suitable candidates in mind." 

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For further information please contact or 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.