Media releases

DRDGOLD restructures, re-names to separate surface treatment and underground mining interests

Details

Published: Friday, 14 January 2011 02:00

Johannesburg, South Africa, 14 January 2011: DRDGOLD Limited (JSE: DRD; NASDAQ: DROOY) has announced a change in its group structure in order to better distinguish between its surface retreatment and underground operations.

In terms of this restructuring:

• operating subsidiary DRDGOLD South African Operations (Proprietary) Limited ("DRDGOLD SA"), which is 74% held by DRDGOLD Limited, 20% by Khumo Gold SPV (Proprietary) Limited (Khumo Gold) and 6% by the DRDSA Empowerment Trust (the Trust) , has changed its name to Ergo Mining Operations (Proprietary) Limited, which now controls Ergo Mining (Proprietary) Limited, Crown Gold Recoveries (Proprietary) Limited and East Rand Proprietary Mines Limited each of which is surface retreatment operations.
• Blyvooruitzicht Gold Mining Company Limited, primarily an underground mining operation previously held 100% by DRDGOLD SA, is now directly held by DRDGOLD Limited (74%), Khumo Gold (20%) and the Trust (6%).

Commenting on the changes, DRDGOLD Limited Chief Executive Officer Niël Pretorius said: "We believe this is a move towards placing two quite different sets of assets under separate brands, in order to ultimately provide separate investment opportunities for two distinct investor types."

Queries:

South Africa & North America
James Duncan, Russell & Associates
+27 11 880 3924 (office)
+27 82 892 8052 (mobile)

United Kingdom/Europe
Investor and Media Relations
Phil Dexter, St James's Corporate Services
+44 20 7499 3916 (office)
+44 779 863 4398 (mobile)

For more information, please visit www.drdgold.com

Disclaimer:

Many factors could cause the actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, adverse changes or uncertainties in general economic conditions in the markets we serve, a drop in the gold price, a continuing strengthening of the rand against the dollar, regulatory developments adverse to DRDGOLD or difficulties in maintaining necessary licences or other governmental approvals, changes in DRDGOLD's competitive position, changes in business strategy, any major disruption in production at key facilities or adverse changes in foreign exchange rates and various other factors.

These risks include, without limitation, those described in the section entitled "Risk Factors" included in our annual report for the fiscal year ended 30 June 2009, which we filed with the United States Securities and Exchange Commission 27 November 2009 on Form 20-F. You should not place undue reliance on these forward-looking statements, which speak only as of the date thereof. We do not undertake any obligation to publicly update or revise these forward-looking statements to reflect events or circumstances after the date of this report or to the occurrence of unanticipated events.