AngloGold Ashanti Limited
NYSE : AU
JSE : ANG

AngloGold Ashanti Limited

November 20, 2009 18:34 ET

AngloGold Ashanti Announces Acquisition of Shares in Commander Goldfields Ltd.

JOHANNESBURG, SOUTH AFRICA--(Marketwire - Nov. 20, 2009) - AngloGold Ashanti Limited (NYSE:AU)(JSE:ANG) is pleased to announce that it has acquired, through its wholly-owned subsidiary, Ashanti Goldfields Services Limited ("Ashanti") 6 St. James Place, London, SW1A 1NP, United Kingdom, 10,000,000 units in Commander Resources Inc. ("Commander") through a non-brokered private placement.

Each unit consists of one common share in the capital of Commander (each a "Common Share") and one and a half of one common share purchase warrant, with each whole common share purchase warrant (each a "Warrant") entitling Ashanti to purchase one additional Common Share at a price of Cdn$0.24 per share until November 17, 2011.

As a result of the acquisition of such units, Ashanti now owns approximately 11.1% of the total issued and outstanding shares of Commander, prior to the exercise of the Warrants. Ashanti was not previously a shareholder in Commander. In the event Ashanti exercises all of the Warrants, Ashanti would own 15,000,000 Common Shares, representing approximately 14.7% of the then issued and outstanding Common Shares of Commander, on a fully diluted basis.

In consideration for these shares, Ashanti made a cash payment in the amount of Cdn$1,200,000 upon closing of the private placement. Ashanti has relied on the exemption set out in section 2.3(1) of National Instrument 45-106 Prospectus and Registration Exemptions, as Ashanti is purchasing the securities as principal and is an accredited investor.

Ashanti acquired the securities for investment purposes only and may, depending upon market and other conditions, increase or decrease its beneficial ownership, control or direction over, or exercise its current rights to acquire, common shares or other securities of Commander through market transactions, private agreements or otherwise.

Certain statements made in this communication, including, without limitation, those concerning AngloGold Ashanti's strategy to reduce its gold hedging position including the extent and effects of the reduction, the economic outlook for the gold mining industry, expectations regarding gold prices, production, cash costs and other operating results, growth prospects and outlook of AngloGold Ashanti's operations, individually or in the aggregate, including the completion and commencement of commercial operations of certain of AngloGold Ashanti's exploration and production projects and completion of acquisitions and dispositions, AngloGold Ashanti's liquidity and capital resources, and expenditure and the outcome and consequences of any pending litigation proceedings, contain certain forward-looking statements regarding AngloGold Ashanti's operations, economic performance and financial condition. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, success of business and operating initiatives, changes in the regulatory environment and other government actions, fluctuations in gold prices and exchange rates, and business and operational risk management. For a discussion of such factors, refer to AngloGold Ashanti's annual report for the year ended 31 December 2008, which was distributed to shareholders on 27 March 2009 and the company's annual report on Form 20-F, filed with the Securities and Exchange Commission in the United States on May 5, 2009 as amended on May 6, 2009. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events. All subsequent written or oral forward-looking statements attributable to AngloGold Ashanti or any person acting on its behalf are qualified by the cautionary statements herein.

AngloGold Ashanti posts information that is important to investors on the main page of its website at www.anglogoldashanti.com and under the "Investors" tab on the main page. This information is updated regularly. Investors should visit this website to obtain important information about AngloGold Ashanti.

AngloGold Ashanti Limited\(Incorporated in the Republic of South Africa)
(Reg. No.1944/017354/06)\ISIN Number: ZAE000043485\NYSE symbol: AU\JSE share code: ANG

Contact Information