Company Information for Cluff Gold Plc

Company stock charts - 6 Month chart

AIM; CLF View full financial data

Company Statement

Cluff Gold plc is focused on the identification, acquisition and development of gold deposits in West Africa that are amenable to open-pit mining and low cost production techniques.

The Group has assembled a portfolio of mineral interests at various stages of development in Côte d’Ivoire, Burkina Faso, Sierra Leone, Mali and Ghana. Cluff Gold progressed from being an explorer to a producer in Q1, 2008. The aim is to provide a steady progression of mines coming into production and to have the capacity to produce 300,000 ounces of gold annually.

Site Locations
1. Sierra Leone
2. Côte d’Ivoire
3. Burkina Faso
4. Mali
5. Ghana

Cluff Gold plc has made significant progress since the Company floated on AIM in December 2004, increasing gold resources across its projects, transforming from an explorer to a producer; expanding the project portfolio and broadening the investor base to an increasingly international audience.

Key Information

• Successful management team with a proven track record in exploration and mine development in Africa
• Increase in total mineral resources to over two million ounces of gold
• Short-term aim to acquire/develop three million resource ounces
• Mid-term aim to have the capacity to produce 300,000 ounces of gold annually
• Portfolio of mining and exploration interests in Côte d’Ivoire, Burkina Faso, Sierra Leone, Mali and Ghana

Highlights

• Transition from explorer to producer - production achieved at the Angovia Gold Mine in Côte d'Ivoire and at the Kalsaka Gold Mine in Burkina Faso. The two projects are expected to produce 100,000 ounces of gold on an annualised basis from 2009.
• Cluff Gold now owns 100% of the Baomahun Gold Project
• 25 year mining lease for the Baomahun Gold Project granted in July 2008
• Prefeasability study underway at Baomahun Gold Project
• Current total mineral resources of 2.5 million ounces of gold of which total inferred resources are 1.2 million ounces of gold
• Moving towards 3 million ounce resource objective
• Successful financing in March 2007 and March 2008 raising approximately $55.3million (£28.2 million) of cash before expenses to fund primarily the development of the Angovia and Kalsaka gold mines
• Standby facility for US$10 million arranged with RMB Australia Holdings Ltd in September 2008

Current Operations

Angovia Project, Mt. Yaoure, Côte d’Ivoire
Key points:

• First gold pour on 14th March 2008 marked the end of the commissioning phase
• Projected annualised gold production 40,000 ounces
• Potential for 800,000 ounces of both oxides and sulphide
• 496,000 ounces JORC-compliant resource estimated

The Mt.Yaoure permit is located 40km northwest of Yamoussoukro, the political capital of Cote d'Ivoire, and covers a surface area of 417km2 including a 50 km2 mining permit.  The licence area includes the Angovia Gold Mine which operated between 1998 and 2003.  The mine reportedly produced over 180,000 ounces of gold during this period by heap leaching some 2 million tonnes of oxide material. The infrastructure in the area is good and includes a hydroelectric dam six kilometres from the Angovia mine site.

Kalsaka, Burkina Faso
Key Points:

• First gold poured on 30th of October 2008
• Cluff Gold is the first British Company to achieve this in Burkina Faso.
• Projected annualised gold production 60,000 ounces
• Resource of 13.7mt at 1.4g/t = 790,000 ounces
• Reserve of 5.1mt at 1.8g/t = 323,000 ounces (at US $525 per ounce)
• Independent assessment of potential to host a resource at least equal to that already defined (SRK Consultants)
• Potential to create mining district

The project is located approximately 150km north west of Ouagadougou, the capital of Burkina Faso, and contains an oxide gold mineral resource that has already been demonstrated, by a feasibility study, to be technically amenable to open-pit mining and processing via heap leaching.

Baomahun, Sierra Leone
Key points:

• Cluff Gold now owns 100% of the Baomahun Gold Project
• 25 year mining lease for the Baomahun Gold Project granted in July 2008
• Over 25,000m of core drilling planned this year
• Total mineral resource of 1,353,000 ounces of gold (JORC)
• Soil sampling and geophysics point to significant potential along strike
• Exploration currently underway, targeting existing and new areas
• Prefeasibility Study underway
• Environmental baseline study completed

The Baomahun deposit is located about 180km east of the capital, Freetown, in the Southern Province of Sierra Leone. The geological setting is similar to the Lake Victoria goldfields in Tanzania.

Karbasso, Mali
Key points:

• JV signed in September 2005
• Southern Mali, 20km along strike of Resolute’s Syama Mine (5 million ounces)
• Favourable geological setting
• Supporting gold-in-soil data

The Company signed a Joint Venture Agreement to acquire a majority interest in the 200km2 Karbasso research licence in Mali from Kadiel Mining (‘’KM’’), a Malian company. The transaction is subject to approval by the Malian Government under the country’s mining laws.

Accra, Ghana
The Company has set up an office in Accra, the capital of Ghana, and preliminary reconnaissance work has been carried out on the recently awarded Akropong Licence. In the main, the office in Ghana is used for logistical support for the construction of the Kalsaka Gold Project in Burkina Faso. All plant and associated equipment for the Kalsaka Gold Project is imported using the Tema port in Ghana.

Ghana and Mali continue to be leading gold producers in West Africa with significat potential for additional discoveries in both countries.

Geographical Spread

Sierra Leone, Cote d’Ivoire, Burkina Faso, Mali, Ghana

Board of Directors and Key Management

J Cluff	Chairman and Chief Executive
D Chikohora	Technical Director
E Carr	Finance Director and Joint Deputy Chairman
N Berry	Non Executive, Joint Deputy Chairman
R Danchin	Non Executive
P Cowley	Non Executive
T Wadeson	Non Executive
Ronald Winston	Non-Executive
Geoff Stanley	Non-Executive

Company Address 24 Queen Anne's Gate, London, United Kingdom SW1H 9AA Telephone: +44 (0) 207 340 9790 Facsimile: +44 (0) 207 222 9477 Email: dmin[at]cluffgold.com Website: http://www.cluffgold.com

Capital Cluff Gold has 84, 228, 391 ordinary shares in issue.

Annual General Meeting June 2008

Year End 31 December

Nominated Brokers WH Ireland 11 St James' Square Manchester M2 6WH

Nominated Advisors WH Ireland 11 St James' Square Manchester M2 6WH

Broker/Analyst Reports

19/03/08 - Ambrian

Major Shareholders

R Winston	12,383,591	12.8
JP Morgan	8,307,000	8.6
Ingalls & Synder LLC	7,128,800	7.4
Libra Advisors LLP	6,875,000	7.1
Africa Emerging Markets Fund	6,250,000	6.5
Golden Cat Capital LLC	6,175,000	6.4
Tocqueville Gold LLP	5,325,000	5.5
Woolwich International Holdings	4,109,091	4.2
Total Shares over 3.0%	56,553,482	58.4

Related News

15/05/09 - With Production Now Stabilising At Roughly 100,000 Ounces Per Year, Cluff Gold Begins To Think Of Stepping It Up A Gear
25/02/09 - Cluff Gold’s Drill Results Are So Good The Company Itself Is Still Coming To Terms With Them
04/11/08 - For A Bird’s Eye View Of Cluff Gold’s Kalsaka Project In Burkina Faso, Stand On The Ridge Next To The Man With The AK-47
10/09/08 - Cluff Gold Moves Towards 100,000 Ounces Of Production, And The Sleeping Giant At Baomahun Is Beginning To Stir
01/04/08 - Cluff Moves Into Production, But There’s Still Real Development Upside In Sierra Leone

Most Recent Statement

26/06/09 - AGM Statement
29/05/09 - Change of Adviser
27/05/09 - Preliminary Results for the Year Ended 31st December, 2008
27/03/09 - Results of General Meeting
17/02/09 - Cluff Gold Begins Trading on the TSX
09/01/09 - Standby Loan Facility