Central China Goldfields plc                          

                           ("GGG" or the "Company")                            

                             EXERCISE OF WARRANTS                              

LONDON, 1 May 2007 - The Company has received applications to exercise
4,836,237 warrants to subscribe for new Ordinary Shares (the "New Shares") at
an exercise price of 10p per share.

The New Shares will be issued and allotted and they will rank pari passu with
the existing Ordinary Shares of 1p each in the Company. Further to the
announcement of 26 April 2007 and today's announcement trading of 5,865,348 New
Shares on AIM is expected to commence on 8 May 2007.

The total number of Ordinary Shares in issue following this exercise of
warrants will be 120,181,873

Any unexercised warrants to subscribe for Ordinary Shares of 1p each at 10p per
share exercisable at any time up to and including 30 April 2007 (25 months from
the date of Admission) have now lapsed.

For Further Information:

Central China Goldfields plc           Hanson Westhouse Limited              
                                                                             
Dr. Jeffrey Malaihollo                 Anita Ghanekar                        
                                                                             
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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