Central China Goldfields plc                          

                           ("GGG" or "the Company")                            

       �650,000 RAISED FOR DONG MAO HAO GOLD PROJECT VIA PLACING OF SHARES       

20 August 2008

Central China Goldfields plc is pleased to announce that it has raised �650,000
in a placing that will principally fund the bulk sampling of the Dong Mao Hao
gold project, prior to bringing it back into production. Full production is
expected during April 2009.

Shareholders should also be aware that the Company is currently in negotiations
with a number of contract mining companies in respect to bringing the Dong Mao
Hao project back into production. It is anticipated that the balance of any
working capital required will be addressed locally by this route.

The placing is split into two tranches, one being 16,641,633 new ordinary
shares placed at 3 pence per share (the "Placing Shares") and the other being �
150,751 of shares at a price yet to be determined (the "Directors' Shares"). T
he Directors and certain senior management of the Company have irrevocably
committed �150,751 (included in the total of �650,000) to subscribe for the
Directors' Shares in this placing. However, because the Company is now in a
close period, pending the publication of interim results, the Directors' Shares
will be issued to the Directors and the senior management when the close period
has come to an end. The Directors and the senior management will convert their
subscription into Directors' Shares at the higher of 3 pence and the price
which is a discount of 7.7% to the bid price at the close of business on the
day the interim results are released and the close period comes to an end.

Application has been made for the Placing Shares to be admitted to AIM and it
is expected that trading will commence on 27 August 2008.

For further information, please contact:

Central China Goldfields plc       Hanson Westhouse Limited          
                                                                     
Dr. Jeffrey Malaihollo             Anita Ghanekar / Martin Davison   
                                                                     
Tel: 020 7621 0200                 Tel: 020 7601 6100                
                                                                     
Email: info@ccgoldfields.com                                         
                                                                     
www.ccgoldfields.com                                                 
                                                                     
Neil Boom                          Michael Parnes / Lisa Ahlas       
                                                                     
Bishopgate Communications Ltd      Old Park Lane Capital Plc         
                                                                     
Tel: 020 7562 3367                 Tel: 020 7493 8188                



END
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