Canal+ Regulatory News (CAN)

9 Jul 2007 16:01

Central African Gold PLC09 July 2007 Central African Gold Plc / Ticker: CAN / Market: AIM / Sub-sector: Gold Mining 9th July 2007 Central African Gold Plc ("CAG" or "the Company") Suspends activities on Kola Permit Central African Gold Plc ("CAG"), the AIM quoted gold producer and explorer,following further due diligence has resolved to suspend activities relating tothe Kola Permit in Mali until further notice. Following the announcement on 5 June 2007 that the Company had signed heads ofterms to develop the Kola Permit with Mande Mines SA, the current holder of theKola Permit, CAG has become aware of certain claims made by a third partyagainst Mande Mines SA. Accordingly, CAG is not in a position to approve theoriginal heads of agreement, although the Company continues to work with MandeMines SA to try and find an alternative solution. The Company is confident, having acted in good faith with the informationavailable at the time, that such claims are not, and can not be, directedagainst CAG. A further update will be released in due course. * * ENDS * * For further information please contact or visit www.centralafricangold.com orcontact: Central African Gold Plc Greg Hunter Tel: +27 (0)82 882 4222 In London: St Brides Media & Finance Ltd Hugo de Salis/ Felicity Edwards Tel: +44 (0)20 7242 4477 Strand Partners Limited Simon Raggett /Braden Saunders Tel: +44 (0)20 7409 3494 In South Africa: Central African Gold Nicole Broome Tel: +27 (0)11 676 2500 Mob: +27 (0)83 601 1702 Russell and Associates Charmane Russell Tel: + 27 (0)11 880 3924 Mob: + 27 (0)82 372 5816 Notes to Editors: Central African Gold Plc, admitted to AIM in April 2004, was established toacquire gold assets with a geographical focus on Africa. The Company hasestablished a sound portfolio with projects in Ghana, Mali, Zimbabwe andBotswana. It has a highly experienced management team, which has worked togetherfor four years managing six underground greenstone gold mining operations andbuilding exploration portfolios. CAG's portfolio includes the producing Bibiani gold mine and prospectinglicences in Ghana, which it acquired from AngloGold Ashanti Ltd, two jointventures in Mali covering 23 prospective permits and licences in Botswanacovering the extension of the Kraaipan greenstone belt from South Africa. CAGrecently acquired five mines and extensive exploration properties in Zimbabwe.The directors are evaluating additional prospects in Africa to establish CAG asa leading mid-tier African gold producer with world class exploration andproduction assets. This information is provided by RNS The company news service from the London Stock Exchange