GGG Ggg Resources

    Central China Goldfields plc                          

                           ("GGG" or "the Company")                            

                       NILEKE COPPER MINES JOINT VENTURE                       

LONDON - 3 December 2007 - Central China Goldfields plc (AIM: GGG) is pleased
to announce the signing of a Joint Venture Agreement with Xinjiang Zhongbang
Mineral Industry Company Ltd ("Zhongbang") covering the acquisition of a 60%
interest in the operating Nileke Copper Mining Project in Yili Prefecture,
Xinjiang Province, west China.

Highlights:

  * GGG is to acquire 60% of the Nileke Copper Mining Project joint venture
    over the next two years following an investment of RMB 18 million,
    approximately GBP 1.2 million, principally into upgrading the mill and
    processing plant and the funding of exploration, including drilling.
   
  * Zhongbang, the existing 100% owner, will be entitled to the first RMB 22
    million, approximately GBP 1.47 million, of net profit from the operation,
    payable within the first 12 months.
   
  * GGG is entitled to 60% of the net profit once Zhongbang has taken the first
    RMB 22 million profit.
   
  * The operating Nileke Copper Mining Project consists of three existing mines
    with current estimated resources of 36,000 tonnes of contained copper metal
    to Chinese Standards.
   
  * The copper ore is processed at the project's 100% owned central processing
    mill that is currently rated at a capacity of 500 tonnes of ore per day.
   
  * The existing mill utilisation is currently averaging less than 300 tonnes
    per day. GGG intends to raise the throughput to the full 500 tonnes per day
    rating capacity and will consider expanding this to 1,000 tonnes per day.
   
  * Additional resources and three new areas of mineralisation at Quinjisayi,
    one of the three mines acquired, have been identified by Central China's
    exploration team and these will be drill tested early in 2008.
   
  * The Company believes, following extensive due diligence, that the Nileke
    area represents a significantly under-explored mineral rich province with
    excellent potential, which may be capable of hosting over 100,000 tonnes of
    contained copper.
   
Jeff Malaihollo, Managing Director of Central China Goldfields plc, comments:

"The Nileke Project represents a strategic investment in an under-explored
copper district with great potential. The existing mill infrastructure provides
us with a fast track platform to grow this project into a significant early
cash flow revenue asset and to consolidate the district.

Initially, GGG's objective is to improve the mining and plant efficiency to
ensure that the project runs at full capacity to maximise cash flow. The
Company then anticipates looking at measures to increase the resource base to
100,000 tonnes of copper, through exploration and third party off-take
contracts.

There are 22 mines and mineral occurrences reported and over 60 targets
identified from ASTER images of the area. The presence of native copper means
that some of these mines have extremely high grade copper content.

The Joint Venture will consider further mill and processing plant expansion to
consolidate production in the district in line with stated Chinese government
development policy.

This Joint Venture is in line with GGG's core strategy of having both cash flow
from operations in addition to several first class exploration projects in the
pipeline.

We will now begin the process of obtaining a Business Licence for the Joint
Venture."

Details:

The Nileke Project area is about 2 hours drive via tarmac road from Yining
town, the capital of Yili Perfecture. Yining is an hour flight from Urumqi, the
capital of Xinjiang Province. There are several daily flights from Beijing and
Chengdu to Urumqi and several daily flights from Urumqi to Yining.

The Nileke Project consists of:

 1. A mill and processing plant rated at 500 tonnes per day capacity located 40
    km southwest of Nileke town. The plant was commissioned in June 2006 but
    has not yet worked to full capacity.
   
 2. The Musi Mine located 30 km southeast of Nileke town. This mine is reported
    to contain in excess of 10,000 tonnes of contained copper at an average
    grade of 1.5% copper*. There are three levels of underground development in
    this mine.
   
 3. The Kezikezengnan Mine located 8 km south of Nileke town. This mine is
    reported to contain 6,000 tonnes of contained copper at an average grade of
    5% copper*. There are two levels of underground development in this mine.
   
 4. The Qunjisayi Mine located 12 km Southwest of Nileke town. This is an open
    pit mine reported to contain 20,000 tonnes of copper* at an average grade
    of 0.8 to 0.9%.
   
All three mines suffer from a lack of resource planning and rational
development. The processing plant is not working at full capacity because of
poor scheduling and inefficiencies in the crushing and grinding circuits.
Metallurgical tests also indicate that the recovery of the plant can be
increased above the current levels of around 70%.

GGG's own work, based on the data provided by Zhongbang and its field
assessment, indicate that these three deposits could potentially contain in
excess of 43,000 tonnes of copper.

In addition, there are 22 mines and mineral occurrences reported from the
region. We have conducted preliminary analyses of Advanced Spaceborne Thermal
Emission & Reflection Radiometry ("ASTER") imagery and have identified over 60
targets which need testing in an area of 20 km x 85 km. The exploration team
has visited some of these mines and our geological assessments indicate that
these are volcanic red-bed deposits. Preliminary discussions have been held
with some of the operators of these mines.

The RMB 18 million registered capital will be contributed over 2 years for the
development of the Project. The investment will consist of:

 i. Cash payment of RMB 3.5 million (about GBP 233,000) to be used to sever a
    disadvantageous long-term off-take agreement.
   
ii. Investment of approximately RMB 5 to 6 million (about GBP 333,000 to GBP
    400,000) to make improvements to the processing plant and existing mines
    such that they will be capable of initially producing 500 tonnes per day
    with a view to increasing this to a 1,000 tonnes per day capacity.
   
iii. The balance of the investment of RMB 8.5 - 9.5 million (approximately GBP
    567,000 - 633,000), to be contributed within 2 years of the formation of
    the Joint Venture company, will be used to seek out regional consolidation
    opportunities and exploration. This may be contributed from cash flow.
   
iv. The Joint Venture will be made through GGG's wholly owned British Virgin
    Islands registered subsidiary CCG Xinjiang Limited,
   
The Parties also agreed that GGG will provide three out of five directors for
the board of the Joint Venture company. In addition, GGG will appoint its
representatives as the General Manager, Chief Financial Officer, Mine Manager
and Mine Geologist of the Joint Venture company.

Technical, legal and financial due diligence has been conducted by the GGG
team, Golder Associates (UK) Limited, Beijing-based consultancy Ten-Star
Science and Technology Development Ltd. Company and Beijing-based Concord &
Partners law firm.

Central China's exploration team has commenced work in Nileke and has already
discovered three additional areas of mineralisation in the Quinjisayi area
which will be drill tested in early 2008. In addition the Company will assess
the possibility of operating Musi as an open pit deposit.

De Ming Ding:

The Company has elected not to continue its option on the De Ming Ding Project
in Tibet and will instead be focusing its resources on the Nimu project area
where drill results to date have been very encouraging.

Quoted tonnes and grade figures above do not comply with international Resource
and Reserve reporting standards such as the JORC Code.

Technical information in the Company news releases has been reviewed and
approved by Ciceron "Jun" Angeles (MSc. FAusIMM, CPGeo) 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.  Mr.
Angeles has not verified the resources quoted.

*Not to International Reporting Standards

For Further Information:

Central China Goldfields plc       Hanson Westhouse Limited          
                                                                     
Dr. Jeffrey Malaihollo. Tel: 020   Louis Castro / Anita Ghanekar     
7621 0200                                                            
                                   Tel: 020 7601 6100                
Paul Mc Groary. Tel: 07930 568160                                    
                                                                     
Email: info@ccgoldfields.com                                         
                                                                     
www.ccgoldfields.com                                                 
                                                                     
Smithfield Consultants             King & Shaxson Capital Limited    
                                                                     
Rupert Trefgarne / Christopher     Nick Bealer                       
Chew                                                                 
                                   Tel: 020 7426 5986                
Tel: 020 7360 4900                                                   



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