CAN Central A.G.

RNS Number:6457B
Central African Gold PLC
04 August 2004


    Central African Gold Plc / Epic: CAN / Index: AIM / Sector: Exploration


News Item


    CENTRAL AFRICAN GOLD COMPLETES #500,000 FINANCING TO EXPAND OPERATIONS


Central African Gold Plc ('CAG' or 'the Company'), the AIM listed mineral
exploration company, has completed a #500,000 fundraising programme, having
raised a further #185,000 before expenses following the placing of 2.64 million
new Ordinary Shares of 0.1p each at a price of 7 pence per share.  The money
raised is being used to expand the Company's exploration activities, fund
project acquisitions and provide general working capital. The first tranche of
#315,000, also raised at 7 pence per share, was announced on 26th July 2004. The
additional funds were placed with European institutions.

CAG Chairman Phil Edmonds said: "We have now completed our targeted #500,000
fund raising initiated to finance the expansion of the business. As I stated in
my previous announcement, by building up significant cash reserves, we can
increase our flexibility when negotiating deals, which will help us to expand
our gold exploration in southern Africa."

Application will be made for the new Ordinary Shares to be admitted to trading
on AIM with admission expected to take place on the 10 August 2004.


                                    **ENDS**



Issued on behalf of Central African Gold Plc by St Brides Media & Finance Ltd,
46 Bedford Row, London WC1R 4LR.

Contacts:

Phil Edmonds           Central African Gold Plc           Tel: 0845 108 6060

Hugo de Salis          St Brides Media & Finance Ltd      Tel: 020 7242 4477


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

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