Cluff Gold plc
TSX : CFG
AIM : CLF

Cluff Gold plc

March 18, 2011 09:30 ET

Cluff Gold plc: Directors' Dealings

LONDON, UNITED KINGDOM--(Marketwire - March 18, 2011) - Cluff Gold plc (TSX:CFG)(AIM:CLF) ("Cluff Gold" or the "Company"), the dual AIM/TSX listed West African-focused gold mining company, was notified on 17 March 2011 that on 17 March 2011 senior management including directors Peter Spivey (Chief Executive) and Peter Gardner (Finance Director), purchased a total of 79,775 ordinary shares in the capital of the Company ("Ordinary Shares"). Details concerning the purchases by directors Spivey and Gardner are set out below:

Name Ordinary
Shares purchased
  Average Price Paid per Ordinary Share   Total holding following purchase   Percentage of
share capital %
Peter Spivey 50,000   £1.02   50,000   0.04
Peter Gardner 20,000   £1.03   30,000   0.02

About Cluff Gold

Cluff Gold is a gold developer-producer with assets in West Africa. The Company generates significant cash flow through its Kalsaka gold mine in Burkina Faso. The Company remains focused on its objective of becoming a mid-tier producer through the development of its wholly-owned Baomahun project in Sierra Leone, which is expected to contribute an additional 157,000oz of gold per annum, with significant exploration potential along strike. With its experience of bringing new mines into production, the Company aims to further increase its production profile with its highly prospective exploration work in the region.

This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, the positioning of the Company for future success, statements regarding potential future production at Angovia, Kalsaka and Baomahun, exploration and drilling results at Baomahun, and future capital plans and objectives of Cluff Gold, are forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Cluff Gold's expectations include, among others, risks related to international operations, the actual results of current exploration and drilling activities, changes in project parameters as plans continue to be refined as well as future price of gold. Although Cluff Gold has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cluff Gold does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.

The results of the VTEM Survey were previously announced in the news release dated 1 December 2010 entitled "Final VTEM Results for Baomahun Gold Project – Seven New Drill Targets Confirm Demonstrable Upside. Peter Spivey is a "Qualified Person" within the definition of National Instrument 43-101 and has reviewed and approved the information contained within this announcement. Mr Spivey (BSc, AusIMM) is the Chief Executive Officer of the Company.

NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.

Contact Information

  • Cluff Gold plc
    J.G. Cluff
    Chairman
    +44 (0) 20 7340 9790
    or
    Cluff Gold plc
    Carrie Lun
    Investor Relations Manager
    +44 (0) 20 7340 9790
    or
    Evolution Securities Limited
    Rob Collins
    +44 (0) 20 7071 4300
    or
    Evolution Securities Limited
    Tim Redfern
    +44 (0) 20 7071 4300
    or
    Pelham Bell Pottinger
    Lorna Spears
    Investor Relations (Global)
    +44 (0) 20 7861 3232
    or
    Pelham Bell Pottinger
    Philippe Polman
    Investor Relations (Global)
    +44 (0) 20 7861 3232
    or
    Farm Street Communications Ltd
    Simon Robinson
    Press Relations (U.K.)
    +44 (0) 7593 340 107
    simon.robinson@farmstreetmedia.com