Gold One International Ltd : BCX Gold Increases Shareholding in Gold One Beyond 90%

GOLD ONE INTERNATIONAL LIMITED

("Gold One" or "the company")

BCX Gold Increases Shareholding in Gold One Beyond 90%

Media Release

JOHANNESBURG - 22 July, 2013. Gold One International Limited (ASX and JSE: GDO) advises that BCX Gold

Investment Holdings Limited ("BCX Gold") has increased its holding in Gold One's issued share capital from

88.77% to 90.03%. By breaching the 90% level, BCX Gold has acquired the right, but not the obligation, under Chapter 6A of the Corporations Act 2002 to compulsorily acquire any remaining Gold One shares. The shareholders of BCX Gold consist of Baiyin Non-Ferrous Group Co. Limited, which is a subsidiary of the CITIC Group, together with the China-Africa Development Fund, which is a subsidiary of the China Development Bank, and Long March Capital Group.

Pursuant to the right of compulsory acquisition, BCX Gold has a six month period, reckoned from 19 July

2013, within which to make an offer to acquire all the remaining Gold One shares. Should BCX Gold elect to make an offer to minorities, it must prepare a compulsory acquisition notice informing the holders of Gold One ordinary shares that it is entitled to acquire their shares and of the compulsory acquisition procedure. The notice must include an expert's report on the consideration to be offered. The holders of Gold One shares covered by a compulsory acquisition notice may apply to Court for an order that their shares not be compulsorily acquired. The Court may order that the shares not be compulsorily acquired only if it is satisfied that the consideration is not fair value for the shares.

The above is a summary and is not intended to be an exhaustive recital of the provisions of Chapter 6A of the Corporations Act 2002. Should BCX Gold elect to compulsorily acquire the remaining Gold One shares, the full compulsory acquisition procedure will be set out in the acquisition notice.

ENDS

Issued by Gold One International Limited www.gold1.co.za

Christopher Chadwick CFO and Acting CEO [phone] (office) [phone] (mobile) [e-mail]

Grant Stuart VP Investor Relations [phone] (office) [phone] (mobile) [e-mail]

About Gold One

Gold One is a dual listed (ASX/JSE: GDO) mid-tier mining group with gold operations and gold and uranium prospects across Southern
Africa, and is focused on developing and mining low technical risk, high margin precious metal resources in diversified jurisdictions. The company's flagship Modder East gold mine, commissioned in 2009, distinguishes itself from most other gold mines in South Africa owing to its shallow nature (300 to 500 metres below surface.)
The Modder East Operations have continued to ramp up in production and produced 97,958 ounces of gold at an average cash cost of US$ 686/oz during 2012. This was derived from 474,754 Black Reef milled tonnes at an average recovered grade of 6.00 grams per tonne as well as the milling of 139,887 tonnes of low grade development ore and waste with an average recovered grade of 1.43 grams per tonne. The Modder East Metallurgical Plant maintained recoveries of 95% for 2012.
At the beginning of 2012, the Gold One Group expanded with the acquisition of Rand Ura nium (Pty) Limited, which comprised the Cooke 1, 2 and 3 Underground Operations and the Cooke surface assets (now known as the Randfontein Surface Operations) located in the West Rand, 30 kilometres from Johannesburg. Through Gold One's purchase of Rand Uranium (Pty) Limited, the company has also acquired one of the world's most advanced uranium projects, which envisages recovering uranium, gold and sulphur from th e above surface Cooke Tailings Dam. The Cooke Tailings Facility has a code compliant resource of 0.8 million ounces of gold and 34 million pounds of uranium. This exciting opportunity is being further explored with Sibanye Gold Limited as part of a larger surface retreatment strategy on the West Rand.

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During mid-2012 Gold One also completed its transaction with the First Uranium Corporation and acquired 100% of the Ezulwini
Mining Company (Pty) Limited, giving the company access to gold and uranium processing plants with nameplate capacities of
200,000 and 100,000 tonnes per month respectively. Ezulwini (now known as Cooke 4) is contiguous to the company's Cooke Underground and Randfontein Surface operations and forms part of the Cooke Underground Operations. Access to the uranium production facility allows for near term production of uranium from underground ore mined at Cooke. In addition, the sharing of services between Cooke 4 and Cooke 1-3 facilitates a reduction in operating costs.
For the 2012 year, the Cooke 1-3 Underground Operations produced 98,451 ounces at an average cash cost of US$1,558/oz. This production was derived from the treatment of 961,802 milled tonnes at an average recovered grade of 3.17 grams per tonne as well as the treatment of 39,650 milled tonnes of low grade development and waste material at an average recovered grade of 0.34 grams per tonne. Plant recoveries for the operation were 95% for 2012.
Since Gold One assumed managerial control, Cooke 4 produced gold in the months of August, September and December only due to illegal industrial action that temporarily halted the operation during October and November. For the three months 8,493 ounces were produced. Total production for 2012 comprised 82,951 milled tonnes at an average recovered grade of 3.18 grams per tonne. Due to the fact that the metallurgical plant was stopped for two months during the illegal industrial action, plant recoveries averaged
82% over the reporting period.
For the 2012 year the Randfontein Surface Operations produced 36,853 ounces from 3,286,633 milled tonnes at an average cash cost of US$1,137/oz. Recovered grades during the year averaged 0.349 grams per tonne, with a gold recovery rate of 72%.
The Gold One group is majority-owned by a consortium comprising Baiyin Non-Ferrous Group Co. Limited, the China-Africa
Development Fund, and Long March Capital Limited, and has an issued share capital of 1,421,538,989 shares.
This news release does not constitute investment advice. Neither this news release nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of securities in any jurisdiction.

Forward-Looking Statement

This release includes certain forward-looking statements and forward-looking information. All statements other than statements of historical fact included in this release including, without limitation, statements regarding future plans and objectives of Gold One International Limited are forward-looking statements (or forward-looking information) that involve various risks, assumptions and uncertainties. There can be no assurance that such statements will prove to be accurate and actual values, results and future events could differ materially from those anticipated in such statements. Important factors could cause actual results to differ materially from Gold One's expectations. Such factors include, among others: the actual results of exploration activitie s; actual results of reclamation activities; the estimation or realisation of mineral reserves and resources; the timing and amount of estimated future production; costs of production; capital expenditures; costs and timing of the development of Modder East and new deposits; availability of capital required to place Gold One's properties into production; the ability to obtain or maintain a listing in South Africa, Australia, Europe or North America; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold and other commodities; possible variations in ore grade or recovery rates; failure of plant , equipment or processes to operate as anticipated; accidents; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, econom ic and financial market conditions; political risks; Gold One's hedging practices; currency fluctuations; title disputes or claims limitations on insurance coverage. Although Gold One has attempted to identify important factors that could cause actual resu lts to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended.
Any forward-looking statements in this release speak only at the time of issue. There can be no assurance that such statements will prove to be accurate as actual values, results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Gold One does not undertake to update any forward-looking statements that are included herein, or revise any changes in events, conditions or circumstances on which any such statement is based, except in accordance with applicable securities laws and stock exchange listing requirements.