Alluvial mining could fund primary exploration

AFLEASE ACQUIRES PROSPECTIVE MOZAMBIQUE CONCESSION

Johannesburg, 2 December 2008  -  Aflease Gold, which last week announced its proposed merger with Australia-based BMA Gold, has acquired the 22 000 hectare Tulo concession in Mozambique's Niassa gold belt, the company reported today.

Aflease gained the mining concession by acquiring 100% of the Mozambique-registered Noble Trade and Commerce for R6 million, payable in Aflease shares, plus a 3% net smelter royalty on the first 32 150 ounces per calendar year and a further 0.5% on the ounces produced over this amount in the same calendar year.

Aflease chief executive Neal Froneman said Tulo gave the company an extensive holding in a highly favourable geological setting, where limited trenching and drilling had already yielded significant results.

"The concession includes a substantial alluvial resource base which is readily and cheaply extractable and as such could fund our primary exploration activities at Tulo," he said.  Aflease will be determining the alluvial potential through a two-year bulk sampling programme.

Aflease, to be renamed Gold One International after the proposed merger with BMA, is currently developing the Modder East gold mine on the Witwatersrand.  The mine is scheduled to pour its first gold in the fourth quarter of next year.  It also has mining and prospecting rights elsewhere on the Witwatersrand, in the Free State and in Namibia.