Central Rand Gold : Memorandum of Understanding Update

(Incorporated as a company with limited liability under the laws of Guernsey,

Company Number 45108)

(Incorporated as an external company with limited liability under the laws of South Africa,

Registration number 2007 /019223/10)

ISIN: GG00B92NXM24

LSE share code: CRND JSE share code: CRD

("Central Rand Gold" or the "Company" or "CRG")

As previously announced on 12 February 2015, the CRG Board had targeted a completion date for the execution of a binding agreement by 12 June 2015 ("Target Completion Date"). The Company wishes to advise that it has extended the Target Completion Date to 15 July 2015 ("Final Completion Date") at the request of both Huili Resources (Group) Limited ("Huili") and Hiria Group Company Limited ("Hiria"), both of whom are in the final phase of their respective internal processes. The Board of Directors believe it is the best interests of shareholders to accommodate this request given the advanced nature of commercial negotiations with both Huili and Hiria.

We thank both Beijing Ankong Investment ("Ankong") and Shengbang Jiabo (Beijing) Consulting Company Limited (Shengbang) for their engagement however, the Company has decided not to continue discussions with Ankong and Shengbang at this time.

The Board cautions that at this time there can be no certainty that the discussions with both Huili or Hiria will lead to a binding agreement being entered into by either party, nor that the potential sale of Central Rand Gold (Netherlands Antilles) N.V. will be completed.

For further information, please contact:

Central Rand Gold +27 (0) 87 310 4400

Johan du Toit / Nathan Taylor

Charles Stanley Securities Limited +44 (0) 20 7149 6478

Marc Milmo / Mark Taylor

Merchantec Capital +27 (0) 11 325 6363

Monique Martinez / Marcel Goncalves

Johannesburg

15 June 2015

Sponsor

Merchantec Capital