Wits Gold increases indicated mineral resources in the Southern Free State



    
    JSE Code: WGR
    TSX Code: WGR
    

    JOHANNESBURG, South Africa, May 6 /CNW/ - Wits Gold is pleased to
announce the completion of an independent review of the mineral resources in
the company's De Bron project, situated immediately south of Harmony Gold Mine
in the Free State Goldfield. This review was undertaken on 30th April 2009 by
Snowden Mining Industry Consultants ('Snowden') following the completion of
Wits Gold's recent drilling programme in the area. Using a cutoff gold value
of 300cm.g/t, this estimate by Snowden has outlined an Indicated Resource on
the Beatrix, Kalkoenkrans, B and Leader Reefs of 23.2Mt at an average grade of
5.2g/t containing 119.7 tonnes (3.85Moz) of gold. This represents a 1.15Moz or
41% increase in the contained gold relative to the previous Indicated Resource
of 16.1Mt at an average of 5.3g/t equivalent to 85.0 tonnes (2.7Moz) of gold.
At the same time, the estimated Inferred Resource on these reefs has decreased
27% from a previous 12.0Mt at 5.6g/t for 67.2 tonnes (2.2Moz) of gold to a
present 9.4Mt at 5.3g/t containing 49.1 tonnes (1.58Moz) of gold.
    Commenting on the results of the revised resource estimate, Chief
Executive Officer, Dr Marc Watchorn said, 'Wits Gold's stated intention has
been to focus on exploration projects that have the potential to host gold
deposits containing resources in excess of 5Moz. De Bron represents one such
project where the company has successfully been able to identify shallow
resources at depths of 500-1200 metres below surface. This achievement has
been brought about largely by additional drilling that has substantiated the
company's predictive geological model for the area.'
    Wits Gold has commissioned a pre-feasibility study to consider the
economics of mining at De Bron as well as the adjacent Bloemhoek area. This
study is being undertaken on behalf of the company by Turnberry Projects
together with Ukwazi Mining Solutions. The results from a number of
alternative mine designs will become available over the next three months.

    NI 43-101 Statement

    The resource estimation at De Bron was conducted by qualified persons
George Gilchrist, Consultant Geologist and Shaun Hackett, Principal Consultant
both of whom are full time employees of Snowden and are independent of Wits
Gold. Mr Gilchrist and Mr Hackett have verified the information contained in
this news release.
    Information concerning the geology, mineral occurrences, nature of
mineralization, rock types, quality assurance and quality control measures
applied, geological controls, sampling data, analytical or testing procedures,
the names of analytical laboratories used and the key assumptions, parameters
and methods used to estimate the mineral resources have previously been
communicated in the Company's filed NI 43-101 compliant Independent Technical
Report dated November 2007, which can be viewed at www.sedar.com.

    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 pre-feasibility study 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; labor 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, capitalization 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 maximize the value of any economic resources. These forward-looking
statements speak only as of the date of this document.
    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 document or to reflect the occurrence of unanticipated events except
where required by applicable laws.





For further information:

For further information: Marc Watchorn, Chief Executive Officer, Tel:
+27 11 832 1749; Hethen Hira, Investor Relations, Tel: +27 11 832 1749

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