PEARL Gold AG

Report Publication Announcement • May 14, 2013

News Details

Ad-hoc | 14 May 2013 09:31

Pearl Gold AG: Production figures for April 2013, result of external audit

Pearl Gold AG / Key word(s): Monthly Figures

14.05.2013 09:31

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Production figures for April 2013, result of external audit

• Production figures for April

• Set up of management committee at Wassoul'Or in order to optimize the
  Kodiéran goldmine

• Release of the company's annual report on the webpage

Frankfurt, 14.05.2013. Prior to Pearl Gold AG's (ISIN:DE000A0AFGF3) AGM
today, Wassoul'Or has decided on a set of measures that will help to
improve the production process of the Kodiéran mine. During March and
April, two consulting firms with international experience examined the mine
as well as the operating entity. The audit resulted in the acknowledgement
of the general suitability of the extraction method and the mine's
technical equipment.

Weaknesses, however, have been spotted in the production process. It was
not possible to align the processes optimally as the original contractors
from Canada left the mine as a result of the political tensions in Mali in
March 2012. The selection of raw material also has room for improvement.

In order to address these shortcomings, Wassoul'Or's CEO Aliou Diallo has
set up a management committee that will establish an action plan and
implement the same. The committee members are Robert Goninon, Jean-Louis
Dupuy, Dramane Traoré and Lutz Hartmann, thus combining 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.

The committee will also establish a financing concept for the improvement
measures, which may also result in a participation by Pearl Gold.

It is the committee's intention to supervise a thorough and swift
implementation of all necessary measures onsite in order to bring the
production process into the direction of the target figures as close as
possible to the expected capacity in the course of the year. New hirings
are planned.

Summary of production figures for April 2013

* Processed raw material: 82,000 tons

* Gold content at the beginning of the production process: 0.63 gm/ton

* Gold content in waste material: 0.18 gm/ton

* Sum of extracted gold: 11,800 gm

The company does again point out that it is not possible to calculate a
sustainable gold recovery rate as long as the extraction process is not in
accordance with the target figures and as long as there are considerable
quantities of partly-treated interim stockpiles.

In the course of the day the annual report 2012 will be available on the
company's webpage in German and English as a download.

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information
included in this news release constitutes 'forward-looking statements'. The
words 'expect', 'plan', 'will', 'intend', 'estimate' and similar
expressions identify forward-looking statements. Forward-looking statements
are necessarily based upon a number of estimates and assumptions that,
while considered reasonable by management, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. The Pearl Gold AG cautions the reader that such
forward-looking statements involve known and unknown risks, uncertainties
and other factors that may cause the actual results, performance or
achievements of the Company to be materially different from the Company's
estimated future results, performance or achievements expressed or implied
by those forward-looking statements and the forward-looking statements are
not guarantees of future performance. These risks, uncertainties and other
factors include, but are not limited to, risks associated with the mining
industry such as government regulation, environmental and reclamation
risks, title disputes or claims, success of mining activities, future
commodity prices, costs of production, possible variation in mineral
reserves, mineral resources, grade or recovery rates, failure of plant,
equipment or processes to operate as anticipated, accidents, labour
disputes, the timing of estimated future production, capital expenditures,
financial market fluctuations, requirements for additional capital,
conclusions of economic evaluations, limitations on insurance coverage,
risks associated with using third-party contractors and inflation. The
Company disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future
events or otherwise, except as required by applicable law.

14.05.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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Language: English
Company: Pearl Gold AG
An der Welle 4
60322 Frankfurt
Germany
Phone: +49 (0) 69 7593 8587
Fax: +49 (0) 69 7593 8200
E-mail: info@pearlgoldag.com
Internet: www.pearlgoldag.com
ISIN: DE000A0AFGF3
WKN: A0AFGF
Listed: Regulierter Markt in Frankfurt (General Standard)

End of Announcement DGAP News-Service

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