NIMU Update

Central China Goldfields plc

`GGG' or `The Company'

INITIAL RESULTS FROM NIMU COPPER-MOLYBDENUM PROJECT

LONDON - 15 August 2006 - Central China Goldfields plc (AIM: GGG) reports
initial results from the Nimu Copper-Molybdenum Project in Tibet.

The Nimu Copper-Molybdenum Project is one of the Company's two `flagship'
projects; the other is the Snow Mountain Gold Project in the Chinese province
of Sichuan.

Highlights:

* GGG geologists have confirmed the presence of porphyry-style mineralisation
in five of the seven exploration licence areas already visited.

* Some samples have returned, hitherto undetected, elevated gold values which
ranges from 0.14 to 2.94 grammes of gold per tonne ("g/t Au").

* Processing of Advanced Spaceborne Thermal Emission & reflection Radiometry
("ASTER") remote sensing data has been completed - clay, iron oxide &
silica alteration have been detected.

* Geological & alteration mapping at 1:10,000 scale is currently being
conducted on all seven Exploration Licences.

* Three target areas of intense phyllic alteration zones have been
identified.

* An exploration programme consisting of 1.5 kilometres of trenching and 75
line kilometres of deep-penetrating induced polarisation / resistivity
surveys will commence in late August.

* Detailed mapping at 1:2,000 scale, aided by satellite imagery data, will be
undertaken on selected targets at the Gangjiang & Tinggong Licences.

Jeff Malaihollo, Managing Director of Central China Goldfields, comments:

"We are very encouraged by the presence of porphyry-style mineralisation in all
the exploration licences we have visited. Our Joint Venture partner identified
an inferred resource of some 1.3 billion pounds of supergene copper over a
large area. We have now identified at least three potential target areas for
further exploration and development in the Nimu Project. We look forward to
some exciting results from this project."

GEOLOGICAL DETAILS:

The Nimu Copper-Molybdenum Project consists of seven exploration licences: five
are contiguous (Bairong, Gangjiang, Ruigangmeng, Xiaqing and Dubuqu) and two
(Zongxung and Tinggong) are separate licences, which are within 2 kilometres of
the other licences.

The Nimu Project area includes a cluster of porphyry Cu-Mo mineral occurrences
with enriched supergene oxide copper blankets. Three of the mineral
occurrences, Tinggong, Bairong and Gangjiang show higher grades. The Sichuan
Bureau of Metallurgy and Geological Exploration ("SBMGE") reported a total
inferred resource, which was not reported according to JORC and CIM NI-43-101
standards, of approximately 600,000 tonnes (over 1.3 billion pounds) of
supergene copper at average grades of 1.1% Cu and 212,000 tonnes (over 467
million pounds) of hypogene sulphide copper at average grades of 0.29% Cu. The
molybdenum grades vary from 0.02% to 0.08%. The Bairong property was also
reported to have 10,700 tonnes of contained molybdenum.

Field work by GGG geologists commenced on 20 May 2006. Currently the Company
has two full-time and two part-time expatriate geologists with many years of
experience in porphyry copper exploration. Two Chinese geologists are also
working at the project.

Work initially consists of 1:10,000 scale geological and alteration mapping.
This work has been completed at Bairong and almost completed at Gangjiang and
Tinggong, three of the seven Exploration Licences, totalling 68.69 square
kilometres. The geological mapping programme at 1:10,000 scale will soon be
undertaken at two other exploration licences, namely, Zongxung and Dubuqu.

Mapping has been greatly aided by ASTER remote sensing data which can detect
clay, iron oxide and silica alteration related to porphyry copper-molybdenum
mineralisation.

Porphyry-style mineralisation has been detected in all licence areas, shown by
the presence of potassic and pervasive phyllic alteration with occurrences of
copper at the surface.

Seventy-seven rock chip samples were taken, of which partial results from
forty-four have been received. Cu ranges from 1% Cu and 1km2 zone SE of Tinggong Copper mine

* 0.2km x 1.0km zone at South Bairong

These altered zones are aligned on a WNW-ESE trend and may be related to
structural control.

A programme of 1.5 kilometres of trenching and 75 line kilometres of
deep-penetrating induced polarisation/resistivity and ground magnetic
geophysical surveys will commence in late August at Gangjiang and Tinggong to
determine the depth extent and geophysical intensity of the altered areas.
Quickbird remote sensing image with submetre resolution is now being acquired
for the whole project area. This will assist with the structural and
lithological interpretation as well as provide a base map for the planned
second stage of mapping at a scale of 1:2,000.

Jun Angeles, Exploration Manager of Central China Goldfields, comments:

"The presence of large phyllic and argillic alteration zones in porphyry
systems is essential in the generation of supergene copper enrichment ore
bodies with grades generally about 0.6% copper or higher. We will now
concentrate on these areas and start defining drill targets to test the depth
potential of these systems."

Technical information in Company news releases has been reviewed and approved
by Ciceron "Jun" Angeles (MSc. FAusIMM) the Company's Exploration Manager. He
is qualified as a Competent Person under the Code for the Reporting Mineral
Exploration Results, Mineral Resources and Mineral Reserves, 2004 ("The
Reporting Code") prepared by the Australasian Institute of Mining and
Metallurgy and the Australian Institute of Geoscientists.

For further information, please contact:

Central China Goldfields plc Hanson Westhouse LLP

Dr. Jeffrey Malaihollo Richard Morrison / Cailey Barker

Tel: 020 7621 0200 Tel: 020 7601 6100

Email: info@ccgoldfields.com

www.ccgoldfields.com

Gresham PR Ltd King & Shaxson Capital Limited

Neil Boom Nick Bealer

Tel: 020 7404 9000 Tel: 020 7426 5986

END

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