Ashanti Gold Corp Exercises Anumso Initial Option

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration

30 March 2017

Goldplat plc ('Goldplat' or 'the Company')

Ashanti Gold Corp Exercises Anumso Initial Option

Goldplat plc ("Goldplat"), the AIM quoted African gold producer, is pleased to announce that further to the announcement of 15 September 2016, Ashanti Gold Corp. ("Ashanti") has exercised its initial option to earn into the Anumso Gold Project in Ghana ("Anumso" or the "Project") under the terms of the option agreement (the "Agreement") between Goldplat and Ashanti.

Ashanti has the right to earn 75% of Goldplat's interest in the Project (giving Ashanti 67.5% of the overall Project interest) by expending US$3 million on exploration over a period of 2.5 years. An initial 51% share of Goldplat's interest will be earned through expending US$1.5 million in the first 18 months (the "Initial Option Period"), which includes a six-month review period. This review period is now over and Ashanti has elected to continue with the Agreement. Ashanti is obliged to either expend US$1.5 million on the Project within the Initial Option Period, or pay the deficiency to Goldplat.

Should Ashanti meet the expenditure condition within the Initial Option Period and receive 51% of Goldplat's interest in the Project (45.9% of the overall Project interest), it will have the option to earn an additional 24% share of Goldplat's interest (21.6% of the overall Project interest) by expending an additional US$1.5 million in the following 12 months period, or by paying the deficiency to Goldplat.

Gerard Kisbey-Green, CEO of Goldplat commented: "I am very pleased that after the initial six-month review period, during which Ashanti had the right to withdraw from the agreement, and based upon the work which they have done so far, Ashanti have taken the decision to continue with the initial option. The working relationship between the two parties is very good and the work done by Ashanti to date has already enhanced the understanding of the potential of the project. This agreement ensures we maintain strategic exposure to this prospective asset whilst Ashanti assumes the capital and operational responsibilities, and with their competencies already proven, we look forward to continuing to support Ashanti as they advance Anumso."

** ENDS **

For further information visit, follow on Twitter @GoldPlatPlc or contact:

Gerard Kisbey-Green CEO Goldplat plc Tel: +27 (71) 8915775
Colin Aaronson / Daniel Bush Grant Thornton UK LLP (Nominated Adviser) Tel: +44 (0) 20 7383 5100
Andrew Raca / Justin McKeegan VSA Capital Limited (Broker) Tel: +44 (0) 20 3005 5000
Charlotte Page / Susie Geliher St Brides Partners Ltd (Financial PR) Tel: +44 (0) 20 7236 1177