GGG Ggg Resources

RNS Number:2805K
Central China Goldfields PLC
30 March 2005


                          Central China Goldfields plc
                                Admission to AIM

Central China Goldfields plc (the "Company") today announces that, with effect
from 8.00am today (30 March 2005), its existing Ordinary Shares and Warrants
have been admitted to AIM. Ruegg & Co Limited is acting as the nominated adviser
and Phillip Securities (UK) Limited is acting as broker.

Words and expressions defined in the Admission Document published on 22 March
2005 shall have the same meaning as in this announcement.

Key statistics

Number of Ordinary Shares in issue at Admission 52,245,000
Number of CCG Warrants outstanding on Admission* 51,351,250
Number of share options outstanding on Admission 3,070,000
Market Capitalisation of the Company at 8p per Ordinary Share** #4,179,600

*including 31,580,000 listed warrants (trade under the ticker of GGGW) in issue
at Admission. Full details of the CCG warrants are set out in the Admission
Document.
**being the price per Ordinary Share at which Ordinary Shares (with Warrants
attached) were issued pursuant to the Share Placing.

The Company was incorporated on 3 November 2004 for the purpose of acquiring the
entire issued share capital of Nexon Asia Group Ltd and raising sufficient funds
to explore for economic gold resources on the Snow Mountain Gold Project
pursuant to the Cooperative Joint Venture Contract with the Sichuan Bureau of
Metallurgy and Geological Exploration ("SBMGE").

The Group's principal focus is on the exploration, discovery and development of
gold deposits in the western Qinling fold belt. This geological terrane is the
site of many recently discovered sediment-hosted gold deposits with similar
characteristics to the renowned Carlin district of Nevada, western USA. As a
result this region is emerging as one of the most significant gold regions in
China.

The Directors believe the areas in which the Group intends to operate offer
opportunities for potential growth and enhancement of the Company's financial
prospects. The Company's objective is to increase shareholder value through the
discovery of economic gold deposits.

While the initial focus will be on the Snow Mountain Gold Project, situated in
the northern Sichuan Province of the People's Republic of China, the Directors
intend that other mineral property acquisitions or joint ventures may, where
appropriate and available, be pursued by the Company.

Nigel Clark, non-executive Chairman of Central China Goldfields plc, said "We
are excited to see our company commence trading on AIM, which we have chosen as
our market of choice to give liquidity and visibility, raise our international
profile and give access to a broader shareholder base."

For further information, please contact:

Central China Goldfields plc
Jeff Malaihollo
Tel: 020 7628 1128
www.ccgoldfields.com

Ruegg & Co Limited
Brett Miller
Tel: 020 7584 3663

Phillip Securities (UK) Limited
Nick Bealer
Tel: 020 7553 8281

NOTES TO EDITORS

About Central China Goldfields plc
Central China Goldfields plc brings together a high level management team with a
large ground holding, in Sichuan Province, prospective for the discovery of
large gold deposits.

The Company's initial focus will be on the Snow Mountain Gold Project. The Snow
Mountain Gold Project includes seven non-contiguous exploration licences
totaling approximately 54.31 square kilometres held by three subdivisions of the
SBMGE. These licences are in process of being transferred to the Joint Venture
company, Sichuan Snow Mountain Mining Exploration Unite Center ("SSMMEUC"),
under the terms of the Cooperative Joint Venture Contract. The Contract also
gives the Company a first right of refusal to apply for licences for SSMMEUC
over two areas totaling about 4,600km(2) within the western Qinling Belt.

Nexon Asia Group Limited ("Nexon") on 18 April 2004 entered into a Cooperative
Joint Venture Contract with the SBMGE on the Snow Mountain Project in the
western Qinling fold belt region of central China, allowing the Company to
conduct exploration programmes for gold. The Company acquired the whole share
capital of Nexon on 23 December 2004.

Under the terms of the Cooperative Joint Venture Contract, Nexon is entitled to
earn a seventy five percent (75%) interest in the SSMMEUC by providing funding
for exploration expenditure incurred by SSMMEUC of US$7.04 million over six
years commencing on 2 December 2004, and by making property payments totaling
US$640,000 over the three years commencing on 2 December 2004. Upon Nexon
earning a seventy five percent interest, further exploration costs will be
funded according to the participants' percentage interest in SSMMEUC, although
SBMGE cannot be diluted below 12 per cent. The Group has the right at any time
after the first year's contribution has been paid to terminate the Cooperative
Joint Venture Contract, at which time all rights would revert to the SBMGE.

Directors
Nigel Bruce Clark (aged 55), Non-Executive Chairman
Nigel Clark has over 30 years experience in new business development and
management in the precious and base metals industry. He started working for
Billiton in Brazil as an exploration geologist, later as an exploration manager
in Portugal and Indonesia, as well as a general manager of both underground and
open-pit gold mines in Indonesia, business development manager in Singapore and
ultimately as general manager in China. Presently he is the Managing Director of
the British Chamber of Commerce in China and the Chairman of the China
International Mining Group - an informal association which promotes western
interests in the mining industry in China, working with review groups on Chinese
mining legislation and related tax issues. Nigel resides in Beijing.

Dr Jeffrey Francis Anthony Malaihollo (aged 38), Managing Director
Jeff Malaihollo graduated with a bachelor's degree from the University of
California, Santa Barbara majoring in Geological Sciences. He then completed his
doctorate at the University College London working on the tectonics and
geochemistry of Eastern Indonesia. Jeff worked for Newcrest on grass roots
exploration for gold and base metals. He then joined Rio Tinto working mainly on
area selection and project evaluation in the Former Soviet Union and Indonesia.
Subsequently he worked and consulted for Billiton on generative programmes and
target selection in South East Asia, China and Eastern Europe. Jeff is currently
a director and Head of Research at Loeb Aron & Company Ltd, a corporate finance
house specializing in natural resources.

John Charles Forrest (aged 57), Finance Director
John (Chuck) Forrest is a Chartered Accountant who commenced his career with
Price Waterhouse and has since had over 25 years experience in advising private
and public companies in Canada, including 16 years in mining and exploration
companies. He is currently a director of TSX-V listed, Majestic Gold Corp. which
is exploring and developing gold properties also in the People's Republic of
China. (Majestic Gold Corp is a shareholder in CCG). He is also the Finance
Director of TSX-V and AIM-listed BDI Mining Corp.

Patrick Aloysius Harford (aged 52), Non-Executive Director
Patrick Harford is Managing Director of AIM-listed Mercator Gold Plc which is
actively exploring for gold in Western Australia. He graduated with Honours in
Geomorphology from Melbourne University in 1973. He has had extensive experience
in gold and diamond exploration and production, including being managing
director of Grants Patch Mining Limited (when that company operated an alluvial
gold mine in the Northern Territory), Zapopan NL (during the period that it
located and developed the Mt Todd and Tanami mines in the Northern Territory)
and Auridiam Consolidated NL (during that company's successful construction of a
2 million tonne per annum diamond mine in Zimbabwe). Prior to joining the
Company, he was engaged to supervise exploration and drilling programmes in
western China by Tianshan Goldfields Limited of Australia.

John Merfyn Roberts (aged 54), Non-Executive Director
Merfyn Roberts, has a MSc degree in Geochemistry from the University of Oxford
and a BSc (Hons) degree from the University of Liverpool. He also qualified as a
Chartered Accountant and since 1982 he has been a fund manager for Charter
Consolidated, Target Investment (now part of Lloyds/TSB Group), Minorco
Services, Endeavour Securities and Arc Advisers. He is currently a Director of
Ocean Resources Capital Holdings plc.



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

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