Funds Managed by Libra Advisors, LLC Acquire Shares of Cluff Gold plc for Investment Purposes

TORONTO, Feb. 21, 2012 /CNW/ - Libra Advisors, LLC ("Libra") announced today that Libra Fund, L.P. and Libra Offshore Master Fund, L.P. (the "Funds") have acquired a total of 4,363,329 Ordinary Shares ("shares") of Cluff Gold plc ("Cluff Gold") at a price of £0.935 per share and subsequently disposed of 55,601 shares at a price of £0.936 per share and further disposed of 17,104 shares at a price of £0.940 per share. In aggregate, these share transactions represent approximately 3.25% of the total shares of Cluff Gold.

As a result of this acquisition and together with securities previously held by the Funds, the Funds now own 14,475,024 shares representing approximately 11.0% of the total outstanding shares of Cluff Gold.

The Funds acquired the shares for investment purposes and may, from time to time, acquire additional securities of Cluff Gold or dispose of such securities as they may deem appropriate.

Libra is the investment advisor to the Funds and maintains its principal office at 777 Third Avenue, 27th Floor, New York, NY 10017.

SOURCE Libra Advisors, LLC

For further information:

Mr. Ranjan Tandon, Managing Member, at (212) 350-5125

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Libra Advisors, LLC

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