GORILLA GOLD MINES LTD — Capital/Financing Update 2011

Feb 6, 2011

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COMPANY ANNOUNCEMENT

Mintails Limited enters into binding Heads of Agreement with Central Rand Gold Limited

7 February 2011: Mintails Limited (ASX: MLI) (“the Company or “Mintails”) is pleased to announce the signing of a binding Heads of Agreement with Central Rand Gold Limited (“CRG”) to process their gold ore through Mintails’ Gold 1 processing circuit at its Mogale Gold Plant Complex.

The terms governing this agreement commenced on 4 February 2011 and will endure for a period of 90 calendar days (“the Pilot Phase”). During this pilot stage the parties will determine the future possibilities for converting the pilot phase into a longer standing arrangement.

In terms of the agreement Mintails shall provide the capital infrastructure of its milling and processing facilities at the Mogale Gold operations, whilst CRG shall contribute 14 000 tonnes of gold bearing ore per month for processing.

The capital assets that Mintails will provide will entitle the Company to share in the net proceeds, based on a sliding scale. Mintails will continue to process its own resources through the balance of its plant processing capacity.

On behalf of the Board

Dick van der Walt

About Mintails Limited

Mintails Limited (ASX Code : MLI) is an Australian listed company with management and operations in South Africa. Mintails processes and recovers gold and proposes to recover uranium from surface tailings resources which are present on the West and East Rand of South Africa’s historic Witwatersrand Basin. To find out more, visit Mintails at: www.mintails.com Or contact: Dick van der Walt - CEO Telephone: +27 (12) 346 4406 Fax: +27 (12) 346 4409