Wits Gold granted additional uranium rights in the DBM and Beisa North Projects, southern Free State Goldfield

Witwatersrand Consolidated Gold Resources Limited
('Wits Gold' or 'the Company')
Incorporated in the Republic of South Africa
(Registration Number 2002/031365/06)
JSE Share Code: WGR ISIN: ZAE000079703
TSX Share Code: WGR CUSIP Number: S98297104

JOHANNESBURG, April 20 /CNW/ - Wits Gold (JSE & TSX : WGR/ ADR: WIWTY) is pleased to announce that the Department of Mineral Resources has granted the Company uranium rights over the Floriana sector of the De Bron-Merriespruit South (DBM) project. As a result, Wits Gold now holds title to uranium over 1897 hectares of the DBM project, which covers a total area of 4024 hectares. A preliminary economic assessment of the DBM project is currently in progress and will be based mainly on the gold potential of this area. The results of this study are expected during April 2011.

The Department of Mineral Resources has also granted uranium rights to Wits Gold over the Beisa North Extension area located immediately north of the now defunct Beisa Uranium Mine in the southern Free State goldfield. The additional uranium rights are expected to supplement the uranium-gold resource previously estimated at Beisa North and reported in the Company's SENS announcement dated 16 July 2009. Additional drilling is planned at the combined Beisa North project during 2011, following which a revised resource estimate will be undertaken.

Commenting on the significance of being granted these additional rights, the Company's CFO Mr Derek Urquhart said, 'We are pleased by the granting of the additional uranium rights, particularly in the DBM area where we will assess the economic potential of recovering by-product uranium.'

Forward Looking Information
Certain statements in this news release may constitute forward-looking information within the meaning of securities laws. In some cases, forward looking information can be identified by use of terms such as "may", "will", "should", "expect", "believe", "plan", "scheduled", "intend", "estimate", "forecast", "predict", "potential", "continue", "anticipate" or other similar expressions concerning matters that are not historical facts. Forward-looking information may relate to management's future outlook and anticipated events or results, and may include statements or information regarding the future plans or prospects of the Company. Without limitation, statements about the timing of a preliminary economic assessment are forward-looking information.

Forward looking information involves known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such forward looking information. Such risks, uncertainties and other important factors include among others: economic, business and political conditions in South Africa; decreases in the market price of gold; hazards associated with underground and surface gold mining; the ability to attract and retain qualified personnel; labour disruptions; changes in laws and government regulations, particularly environmental regulations and mineral rights legislation including risks relating to the acquisition of the necessary licences and permits; changes in exchange rates; currency devaluations and inflation and other macro-economic factors; risk of changes in capital and operating costs, financing, capitalisation and liquidity risks, including the risk that the financing required to fund all currently planned exploration and related activities may not be available on satisfactory terms, or at all; the ability to maximise the value of any economic resources. These forward-looking statements speak only as of the date of this news release.

You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect the occurrence of unanticipated events except where required by applicable laws.

SOURCE Wits Gold

For further information:

Dr. Marc Watchorn
Chief Executive Officer
marcw@witsgold.com 

Tel: +27 11 832 1749       
Mr. Hethen Hira
Investor Relations
hethenh@witsgold.com 

Tel: +27 11 832 1749
www.witsgold.com

 

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