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[Scheich2000]

Company Central African Gold PLC
TIDM CAN
Headline Bibiani Update
Released 07:01 30-Jul-07
Number 0652B



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

30th July 2007

Central African Gold Plc (“CAG” or the “Company”)



Underground mineral resource estimate at Bibiani Main Zone increased by 288% to 2.68 million oz Au; total global mineral resources increased by 300% to 3.23 million oz Au



Central African Gold Plc, the AIM traded gold mining and exploration company, is pleased to announce an increased revised mineral resource estimate following drilling and further evaluation at its Bibiani gold mine, Ghana.



Highlights:



Bibiani main zone mineral resource estimate increases to 31.30 million tons (“Mt”) at 2.66 g/t Au for 2.68 million oz Au at a cut off grade of 1.50 g/t Au (JORC compliant)
Within this mineral resource, Measured and Indicated Resources totalling 14.39Mt at 3.38 g/t Au for 1.56 million oz Au at a cut-off grade of 2.00 g/t Au have been estimated (JORC compliant)
The underground mineral resource upgrade represents a 300% increase on those stated in February 2007 (899 koz), inclusive of a 288% increase in Measured and Indicated (546 koz).
Structural modelling of the Main Zone orebody has established two principle structures controlling the gold mineralising structures
First phase of infill Diamond Core Drilling (“DD”) from surface is in progress - to a depth of 350m below surface
Initial intersections from infill drilling have returned significant widths - up to 21m true width at grades up to 24 g/t Au
Mineralisation is open-ended along strike in both directions and down dip
The Reverse Circulation (“RC”) drilling programme has been completed on satellite pits and other oxide targets on both the mining lease and Bibiani North prospecting licence, which will be reported in a separate announcement shortly
Surface exploration has identified five targets which have been prioritised for follow-up resource delineation


Greg Hunter, CEO of CAG, commented, “This threefold increase in our underground resource estimate for the Bibiani orebody marks a great step in the development of the Bibiani gold mine and its value to the Company. The updated estimate confirms our assessment during the due diligence period that the Main Zone orebody will sustain a multi-million ounce deposit. The global underground resource estimate in excess of 2.5 million oz of gold grading 2.66 g/t Au, provides a good indication of the strong basis for sustainable mineral resource to ore reserve conversion and increases our confidence in the potential for the development of an economically viable long-life underground mining operation. Future deeper drilling is planned, and we envisage a commensurate increase in Indicated mineral resources over the next six months. Additionally, our surface exploration activities are gathering momentum, and we have prioritised five targets for further mineral resource delineation drilling. There is no doubt that the Bibiani properties will continue to provide new zones for exploitation, outside the main orebody, which clearly substantiates a significant gold mineralising system.



“In essence Bibiani is well on its way to fulfilling its potential in providing us with a multi million oz gold resource. Our strategy of becoming a leading mid-tier African gold producer with world class exploration and production assets is, I believe, already becoming a reality.”



Background:



The Bibiani gold mine has historically produced approximately four million oz Au from a combination of high-grade underground (1902-1967) and opencast (1997-2005) mining. The historic underground mining exploited various narrow (1-5metres) zones of mineralisation via three vertical shafts, and using a cut-off grade of 7 g/t Au extracted approximately two million oz Au at an average recovered grade of nine g/t Au. The more recent opencast operation mined the broader mineralised “halo” (widths up to 100metres, but generally 15-25metres) at an average recovered grade of 3.5 g/t Au. Approximately 1.7 m oz Au were recovered from the Bibiani main pit with a number of smaller satellite pits and a tailings re-treatment operation further contributing to a total of two million oz from the more recent operations.



CAG is currently developing a mechanised long-hole open stoping operation below the main Bibiani open pit, initially through the extension of an existing decline to Level 9. During Q3 2008 CAG will commission a 2.8km decline from the run of mine (“ROM”) pad which will allow for both the conveyance of ore as well as access for man and materials. The conveyor decline will have a design tonnage capacity of 200,000 tons per month (“tpm”). CAG has contracted a small select team of experienced Australian and South African mining and engineering personnel to spearhead the initial development phase of the mine. Certain bulk mining equipment is being commissioned underground at present. Initial underground development has commenced, with stope cleanup planned for August 2007 and initial stoping in September 2007.


The Bibiani process plant (Lycopodium 1997) has a throughput capacity of 225,000 tpm. Underground production is phased to achieve 100,000 tpm during Q3 2008. The favourable geology and drilling results are providing impetus to assess expanding planned output to over 150,000 tpm.



Surface exploration drilling



Since CAG took over management of Bibiani in January 2007, a RC and DD programme has progressed, testing extensions to the Main Zone Bibiani orebody and satellite oxide pits. The satellite target drilling is still being fully assessed and integrated with existing data, and results will be included in a separate announcement. The infill drilling of the Main Zone Bibiani orebody currently in progress is providing positive results, which have been incorporated into the revised mineral resource estimate. Summary intersections of four of five boreholes completed so far are given below, with down hole intersections corrected to true widths.





Hole -ID
From
To
Metres
Act Metres
Au g/t

MPD 2
253.80
261.00
7.20
4.1
1.09


293.50
296.50
3.00
1.7
22.18


302.40
315.70
13.30

1.71


324.10
327.60
3.50

1.42 Stopped in stope



MPD 26
300.00
340.60
40.60
21.0
8.31


Including

7.70
4.0
24.21


Including

19.80
10.2
5.28



MPD 31
377.30
395.40
18.10
9.7
2.35


Including


4.3
3.78


424.80
427.80
3.00
1.9
2.64 Stopped in stope



MPD 32
341.90
358.00
16.10
8.9
2.64






Revised Mineral Resource estimation



Snowden Mining Consultants (“Snowdens”) have been retained by CAG to audit gold mineral resource estimations and where applicable ore reserves for input into the Bibiani mine valuation model. The current resource statement work follows on from previous internal estimates undertaken by CAG using Surpac software.



Underground Mineral Resources


CAG has continued to refine first principle geologic modelling and mineral resource estimation on the main Bibiani ore body. The current resource estimation is based on all available surface and underground boreholes as well as over 570 metres of underground channel sampling. Modelling of the geological zones was achieved by sectional digitising of geological units and alteration zones, especially silicification, brecciation and sulphidation. The block model estimation on this mineralised envelope was run using 1 metre down hole drill hole sample composites (total of 60,938 sample composites, minimum 0.0 and maximum uncut 218.0 g/t Au). A top cut of 35 g/t Au has been applied to the resource data prior to estimation.



Gold grades for the reported underground resource model have been determined using Ordinary Kriging (“OK”) with grades interpolated into parent blocks with dimensions of five metres east by 15 metres north by 15 metres elevation. The gold content estimation was constrained within a statistically derived wireframe implying the 50% percentile probability of the grade being > 0.1 g/t Au.



The recoverable resource estimates within each block have been classified according to the distribution of sampling in the OK neighbourhood, utilising a combination of the normalised variance, sample density and spatial continuity (>92.5% confidence Measured, 70-92.5% confidence Indicated, <70% confidence Inferred). This classification scheme takes into account the uncertainty in the estimates related to the proximity and distribution of the informing composites. The revised estimation method also reflects more accurately the extent of previous workings (to 720 metres below surface) and a number of borehole intersections around 800 metres below surface.

For the purposes of this Mineral Resource statement (30 June 2007) the underground mineral resources shown in the table below have been calculated from below the topographic surface and the pit shell to -600 metres vertical below datum (approximately 820 metres). The Measured and Indicated mineral resources are reported based on a 2 g/t Au cut-off grade. Inferred mineral resources are based on the global resource at 1.5 g/t Au cut-off less the Measured and Indicated resources.





Bibiani




UG Mineral Resources


2.00g/t cut off


Kt
Au g/t
Au koz

Measured
4 343
3.33
465

Indicated
10 046
3.40
1 097


14 389
3.38
1 562

Inferred


1.50 g/t cut-off

Diff Global - M&I
16 913
2.05
1 113

Total
31 302
2.66
2 675




The underground mineral resources represent a 300% increase on those stated in February 2007 (899 koz), inclusive of a 288% increase in Measured and Indicated (546 koz). The Measured and Indicated estimates are considered recoverable by mining, and Snowdens and Ukwasi Mining recommend application of ore loss and dilution factors in quantifying ore reserves.



Surface Mineral Resources



During 2007 CAG has continued to treat tailings. These mineral resources have been adjusted for depletion up to 30 June 2007. Certain inferred satellite pit resources stated in February 2007 remain unchanged. The combined surface mineral resources now total 18.22 Mt tons at 0.67 g/t Au for 393 koz Au.





BIBIANI MINE




SURFACE MINERAL RESOURCES




Kt
Au g/t
Au Koz

Measured




Surf - Tailings (#1 & 2)
1 577
1.00
51

Subtotal
1 577
1.00
51

Indicated




Surf - Tailings (levee 1-6)
1 302
0.76
32

Surf - Tailings New
15 000
0.57
275


0
0.00
0

Subtotal
16 302
0.58
307

TOTAL M & I
17 879
0.62
357

Inferred




Surf - Sat opencast
339
3.24
35

Subtotal
339
3.24
35

TOTAL RESOURCES
18 218
0.67
392




Total Mineral Resources



Mineral resources, including surface and underground, now total 50.80Mt tons at 1.98 g/t Au for 3.23 million oz Au.





TOTAL MINERAL RESOURCES




Kt
Au g/t
Au Koz

Measured
5 919
2.71
516

Indicated
26 349
1.66
1404

TOTAL M & I
32 268
1.85
1 920

Inferred
18 537
2.19
1 307

TOTAL RESOURCES
50 805
1.98
3 227






The resource estimates were undertaken internally by CAG, with guidance by Snowdens. Messrs Dale Richards, Frans Dooge and Phil Bentley (SACNASP affiliated) who have more than 70 years combined experience in the geological modelling of ore bodies and the use of geostatistics for the estimation of recoverable resources in gold deposits. For the purpose of reporting under the JORC code Phil Bentley, [CAG Head of Geology], is regarded as the Competent Person.



Ore Reserves



Ukwasi Mining is currently retained by CAG to carry out mine planning and scheduling based on the revised geological and resource model developed by CAG. This mining study is currently being finalised, and an Ore Reserve statement is anticipated during early August, which will include the modification of certain of the mineral resources to Ore Reserve category.





* * ENDS * *



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



Central African Gold Plc

Greg Hunter Tel: [phone]



In London:

St Brides Media & Finance Ltd

Hugo de Salis/ Felicity Edwards Tel: [phone]



Strand Partners Limited

Simon Raggett/Braden Saunders Tel: [phone]



In South Africa:

Central African Gold

Nicole Broome Tel: [phone]

Mob: [phone]



Russell and Associates

Charmane Russell Tel: + 27 11 880 3924

Mob: + 27 82 372 5816



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 producing Bibiani gold mine and prospecting licences in Ghana, which it acquired from AngloGold Ashanti Limited, two joint ventures in Mali covering 23 prospective permits and licences in Botswana covering the extension of the Kraaipan greenstone belt from South Africa. CAG recently acquired five mines and extensive exploration properties in Zimbabwe. The directors are evaluating additional prospects in Africa to establish CAG as a leading mid-tier African gold producer with world class exploration and production assets.











END





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“In essence Bibiani is well on its way to fulfilling its potential in providing us with a multi million oz gold resource. Our strategy of becoming a leading mid-tier African gold producer with world class exploration and production assets is, I believe, already becoming a reality.”

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