Giyani Gold Corp. Advances African and Ontario Projects

OAKVILLE, ON, Nov. 10, 2011 /CNW/ - Giyani Gold Corp. (TSXV: WDG) ("Giyani" or the "Company") presents a corporate update on its development projects in South Africa and Ontario. As previously indicated, the corporate strategy for the Company is to be focused and generative utilizing management's extensive development experience in highly prospective gold regions. With Giyani's primary focus on pursuing the acquisition and development of target assets in South Africa, management has also continued to deploy dedicated flow through exploration capital and expertise in Ontario on a select basis. In addition to recent progress on the South Africa assets, management has undertaken to complement this area of interest by expanding and advancing its Ontario exploration activities, and in so doing utilize its capacity to enhance stakeholder value.

Rock Island Acquisition Update

The Company has made submissions to and is liaising with the Toronto Venture Stock Exchange ("TSXV") to obtain approval of the acquisition of a 45% indirect interest in Rock Island Trading 17 (Pty) Ltd. ("Rock Island") pursuant to the revised binding agreement between the Company and Kytanite Development Corp. announced on October 28, 2011 and approval of the Company's previously announced private placement of units (including release of the placement proceeds currently held in escrow).  The Company anticipates closing of the acquisition and private placement to occur in the coming weeks.

Management has been in South Africa for the past several weeks, led by Vice President of Exploration, Robert S. Middleton, in preparation to initiate its exploration program, beginning immediately with surface geophysics at primary sources of historical mining. Data compilation and processing, geological mapping, contractor evaluation and procurement were included in these preparatory activities. Management's representative board member on Rock Island, Executive Chairman Duane Parnham will be presenting a detailed exploration plan at the upcoming meeting of Joint Venture Partners and Board of Directors of Rock Island later this month.

Abbie Lake-Keating Property, Ontario

The Company is pleased to announce that it has assembled 3 contiguous gold properties covering an 18 kilometer strike length within the western part of the Mishibishu Greenstone Belt (the "MGB") in Northern Ontario. These properties collectively form the Abbie Lake-Keating property. This strategically positioned land package is located within a key geologically prospective and historically prolific gold producing region known for production from high grade open pit and underground mining operations.  The Company has incorporated a wholly owned subsidiary ("Newco") for the purposes of developing the Abbie Lake-Keating property and will consider various alternatives to capitalize and deliver full value to Giyani shareholders with this entity going forward.

Mr. Duane Parnham, Executive Chairman of the Company, commented "As we continue to advance on our premier South African project, our team has assembled 3 new prospective gold properties in Ontario. This demonstrates the ability and continued effort of management throughout the past year in securing this large scale gold exploration opportunity. Exploration work has already begun at both the Rock Island and Abbie Lake-Keating projects. The exploration work at Abbie Lake-Keating is being funded with flow-through capital on hand with a view to developing a geological model for the property."

The Company has entered into option agreements with two private arms-length entities, which entitles Newco to earn a 100% interest in exchange for a combination of conducting a work program, cash, shares in Newco, and a 3% Net Smelter Return on gold production (with a re-purchase entitlement in favor of the Company). Each of the arms-length entities is entitled to up to 500,000 shares in Newco over time with one entity also entitled to an additional 500,000 share purchase warrants. Newco has also entered into a license agreement with a 3rd arms-length entity, which entitles Newco to acquire leases on lands in exchange for an annual fee, work program, and 3% Gross Overriding Royalty.

Vice President of Exploration, Robert S. Middleton commented, "The Abbie Lake-Keating property is located in a highly prospective region for gold mineralization and gold production in Northern Ontario. We will continue to explore for high grade zones of mineralization within this sizable land package. Our team has initiated a focused and aggressive geological, geochemistry, and geophysical exploration program with an expectation that this program will be immediately followed by a focused drill program designed to establish a mineable resource."

The Company's Vice President of Exploration, Robert S. Middleton, P.Eng., a Qualified Person as defined by National Instrument 43-101, has read and approved the information contained herein.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

On behalf of the Board of
Giyani Gold Corp.,
"Duane Parnham"
Duane Parnham,
Executive Chairman

This news release contains forward-looking statements regarding the future success of the business of the Company that is subject to risk and uncertainties. Examples of such forward-looking statements including, but are not limited to, statements concerning the Company's acquisition of the interest in the Giyani Gold Project, expectations concerning timing and success of exploration activities generally, government regulation of exploration and mining operations, indications and benefits of exploration, drilling test work and engineering assessments, environmental risks, title disputes or claims, and the Company's intention to raise additional capital and financing. These forward-looking statements involve known and unknown risk and intention to raise additional capital and financing. These forward looking statements involve known and unknown risk and uncertainties that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. These risks include risks related to whether or not the Company will complete the South African transaction, dependence on key personnel, competition, risks related to newly acquired businesses, uncertainty and dilution of additional financing and ability to service debt, as well as the risk factors described in the Company's Management Discussion and Analysis filed on SEDAR at www.sedar.com, and the risk to be described in any Management Information Circular. The forward-looking statements contained herein are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company undertakes no obligation to publicly update or revise any such forward looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such forward-looking statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

SOURCE GIYANI GOLD CORP.

For further information:

Darren Collins
Corporate Communications
Direct: +1.416.399.3422
Email: dcollins@giyanigold.com

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GIYANI GOLD CORP.

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