CGM.L Regulatory News (CGM)

7 Jan 2008 09:00

China Goldmines PLC07 January 2008 7 January 2008 China Goldmines plc ("China Goldmines" or the "Company") Progress at Shenjiaya China Goldmines plc (AIM: CGM), the gold resources company focussed on thediscovery and development of gold projects in the Hunan Province of China,announces that the Company is now in possession of the licence certificates forits eight mines at the Shenjiaya Prospect. The Company is currently implementing its development plans for the mines whichwere detailed in the Circular sent to Shareholders on 28 September 2007. TheDirectors believe that the Company is on track to pour its first gold from Shenjiaya in early 2008. Frank Vanspeybroeck, CEO of China Goldmines, said: "We are making good progressat Shenjiaya, which is an endorsement of our development strategy to increaseperformance and output. We continue to work towards our first gold pour earlyin the new year." Ends For additional information: China Goldmines plcFrank Vanspeybroeck (CEO) Mobile: +61 41 116 6276Alec Worrall +44 207 788 7621Marinko Vidovich (CFO) Mobile: +61 41 997 4744Changsha Office +86 731 518 8200 Brewin Dolphin Limited +44 141 221 7733(Nominated Adviser)Alan Stewart (Corporate Finance) Parkgreen Communications +44 20 7851 7480Justine HowarthErica Nelson Notes to Editors China Goldmines plc listed on AIM on the 7 February 2006 as a gold resourcescompany focussed on the discovery and development of gold projects in the HunanProvince of China. The Company's Guanzhuang Gold Project, based on an Independent GeologicalReport, has an estimated inferred resource of 1.8 million ounces within the top325m from surface and over a strike distance of 1.5km has been identified fromits 100% owned/controlled Shenjiaya Prospect. The Company's target is to furtherincrease this resource by a factor of 4 to 6 times with a continuing explorationprogram. The Shenjiaya Prospect consists of eight gold mines which the Company plans toconsolidate with the aim of having a long life mining production of 150,000 ozAu/pa in the near future. At the same time as mining the existing eight mines,China Goldmines will continue to investigate the potential of the project areathat remains under explored. This information is provided by RNS The company news service from the London Stock Exchange