RNS Number:7736N
Central China Goldfields PLC
20 June 2005


                          Central China Goldfields plc
                            ("GGG" or "the Company")

                       TRANSFER OF EXPLORATION LICENCES

LONDON - 20 June 2005 - Central China Goldfields plc (AIM:GGG, GGGW) announces
that the Company has received unconditional approval from the Sichuan Bureau of
Land Resources for the transfer of all seven exploration licences in the Snow
Mountain Gold Project to the Joint Venture company, Sichuan Snow Mountain Mining
Exploration Unite Center ("SSMMEUC"). These licences were previously held by
three subdivisions of the Sichuan Bureau of Metallurgy and Geological
Exploration ("SBMGE").

The Snow Mountain Gold Project includes seven non-contiguous exploration
licences totalling approximately 54.3 km2. SBMGE has identified an inferred
resource of 950,500 ounces of gold, in three out of the seven licences, of which
225,500 ounces are compliant to the Canadian 43-101 standard (see press release
on 9 May 2005).

SBMGE has also granted SSMMEUC the first right of refusal to apply for licences
over two areas totalling 4,600 km2 within the western Qinling 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.

Dr. Jeffrey Malaihollo, Managing Director, comments "The approval by Sichuan
Bureau of Land Resources for the transfer of these licences has given us a
greater security of tenure. We have now identified additional targets,
prospective for hosting Carlin-like deposits, and have begun the process of
applying for exploration licences over these areas. When granted, these new
licences will be held directly by the Joint Venture company".

The Sichuan Bureau of Land Resources ("SBLR") is the Government organisation
responsible for issuing exploration licences in the Sichuan Province of China.
Relevant documents have been submitted to the SBLR for the issuance of new
licences.

For further information, please contact:

Central China Goldfields plc Ruegg & Co Limited
Dr. Jeff Malaihollo Brett Miller
Tel: 020 7621 0200 Tel : 020 7584 3663
jeff@ccgoldfields.com
www.ccgoldfields.com

Phillip Securities (UK) Limited Parkgreen Communications
Nick Bealer Victoria Thomas
Tel: 020 7426 5986 Tel : 020 7493 3713


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
Carlin-like gold deposits. The Company listed on 30 March 2005 and has
approximately #2m in cash. There are 52,245,000 shares outstanding.

Central China Goldfields plc, through its wholly owned subsidiary Nexon Asia
Group Limited, is earning a 75% interest in the Joint Venture company, Sichuan
Snow Mountain Mining Exploration Unite Center ("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 totalling
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 percent.

The Contract also gives the Company a first right of refusal to apply for
licences for SSMMEUC over two areas totalling 4,600km2 within the western
Qinling Belt.



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

END
MSCPUUGCQUPAGGU
GGG Resources (LSE:GGG)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more GGG Resources Charts.
GGG Resources (LSE:GGG)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more GGG Resources Charts.