GGG Ggg Resources

    Central China Goldfields plc                          

                           ("GGG" or "the Company")                            

                            STRATEGIC ASSETS REVIEW                            

LONDON - 17 April 2008

The Directors are pleased to provide shareholders with the corporate strategy
which the company intends to pursue going forward, following the sale of Snow
Mountain for US$5.4 million, or approximately 2.2p per share in cash which will
now be applied to our core assets.

The objective of the review was to identify how to best maximise shareholder
value over the short, medium and longer term.

The Board's conclusion is that we will remain focused on copper and gold
exploration in China but with an emphasis on developing potential world class
assets alone or in partnership with majors whilst building up a series of
smaller cash generative projects.

Potential world class projects 

We are of the opinion that Nimu Copper Project has the size and scale to become
a substantial asset. It is anticipated that, as the Company proves up this
asset, it will seek one or more major Chinese or western partners to assist
with developing the core licences on the project, leaving GGG to add value in
the as yet relatively under explored remaining licences. To date we have had a
number of enquiries in respect of the Gangjiang and Tinggong licences but feel
the Company should add value in the Gangjiang licence ahead of any potential
joint ventures.

Carried interests on large projects 

Secondly, a watching brief is now being actively maintained on early stage,
potential world class assets where the Company's core competencies can add
value but where we do not feel we wish to acquire substantial financial
obligations. Our technical team will rapidly assess potential projects and GGG
would look to maintain smaller carried interests.

Early cashflow assets

The Dong Mao Huo Gold Project is our second area of focus where we believe
that early cashflows are possible for an open pit mine, subject to a successful
bulk sampling program which will be undertaken over the next 13 months coupled
with additional drilling to build up a mine feed resource, ideally enough for
15 and 18 months. There is also a potentially significant underground gold-base
metal exploration upside at this property.

The Company is actively looking for additional cashflow opportunities with an
emphasis on gold, ideally with open pit potential.

 

Changes to the portfolio

In light of the Company's decision to focus on large projects and early
cashflow the Board have decided not to proceed further with the Nileke copper
project. Whilst we continue to view the project as a good middle sized project
it has become clear that our mining teams key focus is now on Dong Mao Huo
which, given their limited size, would mean that Nileke would not have received
the time and attention it deserved. Our decision to leave the project has been
agreed amicably with our partner and the RMB 3.5 million initial investment
that we made has now been returned with a small additional amount to cover our
due diligence and expenses to date agreed.

Recruitment

Our key assets are our people and we are looking to add both mining staff at
Dong Mao Huo and further high level exploration staff with a view to building
up strategic stakes in large projects without the need for GGG to contribute
funding beyond the initial expense stage. Nimu remains our flagship asset and
continues to be the focus of our attention and resources.

For Further Information:

Central China Goldfields plc       Hanson Westhouse Limited          
                                                                     
Dr. Jeffrey Malaihollo             Anita Ghanekar / Louis Castro     
                                                                     
Tel: 020 7621 0200                 Tel: 020 7601 6100                
                                                                     
Email: info@ccgoldfields.com                                         
                                                                     
www.ccgoldfields.com                                                 
                                                                     



END

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