PEARL Gold AG

Earnings Release • May 17, 2013

News Details

Ireland | 17 May 2013 15:47

Pearl Gold AG: INTERIM ANNOUNCEMENT FIRST HALF-YEAR 2013

Pearl Gold AG / Release of an announcement according to Article 37x of the WpHG [the German Securities Trading Act]

17.05.2013 15:47

Interim report according to Article 37x of the WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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INTERIM ANNOUNCEMENT

FIRST HALF-YEAR 2013

Interim Announcement Pearl Gold AG

• Survey of the Kodiéran Mine by international experienced consultancy
  firms

• Establishment of a management committee at Wassoul'Or to optimize
  production

• Release of monthly production figures up to April

• Release of the Annual Report 2012

Frankfurt, 17.05.2013. PEARL GOLD AG (ISIN: DE000A0AFGF3). The production
at the Kodiéran gold mine was below target during the reporting period.
Detailed production figures can be viewed in the monthly press releases
since January. Currently, Kodiéran is Wassoul'Or's sole producing mine.
PEARL GOLD AG holds a 25% stake in Wassoul'Or. As a consequence of the
continuing problems in the commissioning of production and with the support
of PEARL GOLD AG as an active investor, Wassoul'Or's management appointed
two consulting firms with international experience to examine the
extraction capability of the mine. Wassoul'Or already received the
respective reports.

The audit resulted in the acknowledgement of the general suitability of the
extraction method and in particular, the mine's technical equipment.

However, the consultants are of the opinion that there is room for
improvement in the production processes. It was not possible to align the
processes optimally because the original contractors from Canada left the
mine as a result of the political tension in Mali in March 2012. There is
also room for optimization in the selection of raw material.

In order to solve these and other problems, Wassoul'Or's CEO, Aliou Diallo,
has set up a management committee, which will establish an action plan and
implement it on site. The committee members are Robert Goninon, Jean-Louis
Dupuy, Dramane Traoré and Lutz Hartmann. The committee combines expertise
in geology, financing, engineering and jurisdiction. Robert Goninon is a
member of PEARL GOLD's Supervisory Board, Dramane Traoré is a Project
Manager with Wassoul'Or and Jean-Louis Dupuy and Lutz Hartmann are joint
CEOs of PEARL GOLD AG.

Exploration for the Traoréla project, which was mentioned in the interim
announcement of November 19, 2012, has progressed. The first analysis
results are available. After an initial examination, the geologists are of
the opinion that a reliable statement with regard to potential deposits
cannot yet be given. Thus, it was decided to carry out further analyses and
exploration drilling.

The company presented a detailed annual report for 2012 at the Annual
General Meeting on May 14, 2013.

Pearl Gold AG
Pearl Gold AG is a project developer and active investor listed in the
General Standard of the Frankfurt Stock Exchange, based in Frankfurt. The
company focuses on investments in West African exploration and mining
corporations, especially in the field of gold and other precious metals.
The first investment of Pearl Gold is the Malian mining company Wassoul'Or,
in which Pearl Gold has a stake of 25 per cent. Wassoul'Or concentrates on
the exploration and production of gold and runs the Kodiéran gold mine in
the South of Mali. For further information as well as the securities
prospectus visit http://www.pearlgoldag.com

For Inquiries:

MSL Financial
Press@pearlgoldag.com
Tel: +49 (0) 69 6612456 8394

17.05.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Pearl Gold AG
An der Welle 4
60322 Frankfurt
Germany
Internet: www.pearlgoldag.com

End of Announcement DGAP News-Service

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