RNS Number:3326L
Central African Gold PLC
08 January 2008

     Central African Gold Plc / Ticker: CAN / Index: AIM / Sector: Mining &
                                  Exploration



8 January 2008

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

                Result of Extraordinary General Meeting ("EGM")



Central African Gold Plc, the AIM quoted gold mining and exploration company, is
pleased to announce that at the EGM held earlier today, both resolutions were
duly passed with 100% acceptance and accordingly the placing of 60,000,000 new
ordinary shares of 0.5p each ("Placing Shares") at 26 pence per share (the "
Placing") to raise circa �14.85 million net of expenses is now unconditional.
The funds raised, together with the additional flexibility provided by the
recently secured extension to the Company's existing debt facility, will be
utilised to fund the development of CAG's African production and exploration
portfolio in Ghana, Mali, Zimbabwe and Botswana.



Central African Gold's CEO Greg Hunter said, "With the gold price hitting an all
time high in the New Year and all indicators pointing to the continuing strength
of the gold markets, we find ourselves at an exciting stage of development where
we hope to capitalise on these positive market conditions. The funds raised will
enable us to develop our extensive gold portfolio across Africa and achieve the
Company's objectives of realising an initial annualised gold production target
of 200,000 oz and to build an overall resource base of 7.5 million oz Au by the
end of 2008.



"At our flagship Bibiani project, exploration and development work has already
increased ore definition at the Bibiani Main Zone by 288% to 2.68 million ounces
Au and our total global mineral resources by 300% to 3.23 million oz Au, as well
as a 391% increase in the underground ore reserve estimate at Bibiani to 1.05
million ounces Au. Total gold production for the year ending 31 December 2007 is
expected to be circa 25,000 to 30,000 ounces and we are forecasting production
to reach an annualised rate of 100,000 ounces by the end of 2008. In Zimbabwe
our focus is on the Dalny Mine and the Golden Quarry/Camperdown complex where we
are aiming to significantly increase production and milling capacity as well as
provide an upgrade of underground infrastructure and access to additional
reserves.



"In addition, the Medinandi Project in west Mali is proving to be very exciting
with approximately 500,000 ounces of gold resources delineated during 2007. With
the capital raised, I believe that we can fast track the development of our
projects to realise the true value of our portfolio and in turn, enhance
shareholder value."



The Placing Shares will, on their Admission to trading on AIM, be credited as
fully paid and rank pari passu in all respects with the Company's existing
issued Ordinary Shares, including the right to receive all dividends and other
distributions declared, made or paid on the Ordinary Shares after that date.



Application has been made to the London Stock Exchange for the Placing Shares to
be admitted to trading on AIM which is expected to take place on 9 January 2008.



Following the Placing there will be 166,079,962 Ordinary Shares in issue.



                                  * * ENDS * *



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



Central African Gold Plc
Greg Hunter/Nicole Broome                             Tel:  +27 (0) 11 676 2500

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

RBC Capital Markets
Martin Eales/Andrew Smith                             Tel:  +44 (0) 20 7029 7881

In South Africa:
Russell and Associates
Charmane Russell                                      Tel:  + 27 (0) 11 880 3924



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, three joint
ventures in Mali covering 22 prospective permits and a licence 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 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.






                      This information is provided by RNS
            The company news service from the London Stock Exchange
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