GGG Ggg Resources

    Central China Goldfields plc                          

                           ("GGG" or "the Company")                            

                     SNOW MOUNTAIN DISPOSAL RAISES US$5.4M                     

LONDON - 2 May 2008

Following a number approaches by Chinese third parties in relation to the Snow
Mountain Project, Central China Goldfields plc recently decided to undertake a
strategic review of its exploration assets.

Following this review the Board has decided to sell the Snow Mountain Project
and use the funds to accelerate exploration at the Gangjiang Licence at Nimu
and the development of the Dong Mao Huo gold project.

The Company, in line with its joint venture agreement, subsequently discussed
these approaches with its Snow Mountain partner, the Sichuan Bureau of
Metallurgy and Geological Exploration ("SBMGE") who indicated that they wished
to exercise their right to purchase the project ahead of third parties.

The Board of Central China and the Sichuan Bureau of Metallurgy and Geological
Exploration after extensive discussion have now mutually agreed that the
project will be transferred to the Bureau for a consideration of RMB 38 million
(approximately US$ 5.4 million) payable in cash.

Highlights:

  * Snow Mountain sold to Sichuan Bureau of Metallurgy and Geological
    Exploration
   
  * Cash consideration of RMB 38 million (about US$ 5.4 million) in three
    instalments
   
  * Accelerated delineation of copper-molybdenum resources on the Gangjiang
    licence at Nimu.
   
Jeff Malaihollo, Managing Director of Central China Goldfields plc, comments:

"In 2008 our main focus will be on our copper-molybdenum project at Nimu and
the gold project at Dong Mao Huo and our decision to sell Snow Mountain
reflects this focus. Under the right of first refusal, we offered the Snow
Mountain Project back to our partner who agreed to purchase our interest for a
cash consideration of RMB 38 million.

The proceeds from the sale of Snow Mountain will ensure that the Nimu work
programme in 2008 will be accelerated with the aim of delineating a resource on
the Gangjiang licence area which was the subject of the successful scout
drilling programme in the summer of 2007.

This transaction demonstrates Central China Goldfields ability to create value
and leverage the strong local relationship that we have developed throughout
the years."

The proceeds of RMB 38 million will be paid in three instalments. The first
payment of RMB 12 million will be paid within 10 working days of the signing of
the agreement (2 April 2008), the second part of RMB 13 million within two
months of the signing of the agreement and the final instalment of RMB 13
million payable upon transfer of all licences back to the SBMGE. Expenditure on
the Snow Mountain project to date was approximately RMB 24 million and will
give rise to a profit of RMB 14 million (circa US$ 2 million).

For Further Information:

Central China Goldfields plc                  Hanson Westhouse Limited       
                                                                             
Dr. Jeffrey Malaihollo. Tel: 020 7621 0200    Louis Castro / Martin Davison
                                                                             
Paul McGroary. Tel: 07930 568160              Tel: 020 7601 6100             
                                                                             
Email: info@ccgoldfields.com                                                 
                                                                             
www.ccgoldfields.com                                                         



END

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