IGO LIMITED — Capital/Financing Update 2011

Jul 26, 2011

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AngloGold Ashanti Limited (Incorporated in the Republic of South Africa \ Reg. No. 1944/017354/06) ISIN No. ZAE000043485 – JSE share code: ANG \ CUSIP: 035128206 – NYSE share code: AU Website: www.anglogoldashanti.com

News Release

27 July 2011

TROPICANA GOLD PROJECT ORE RESERVE ADDITIONAL DETAIL

Further to the announcement yesterday (26 July, 2011) about the updated Ore Reserve and Mineral Resource estimates for the Tropicana Gold Project, a breakdown of the estimates is provided in Table 1 and Table 2 below.

The Tropicana Gold Project, 330 kilometres east-northeast of Kalgoorlie, is part of the Tropicana Joint Venture, owned by AngloGold Ashanti Australia Ltd (70% and manager) and Independence Group NL (30%).

As reported yesterday, the Measured, Indicated and Inferred Mineral Resource estimate for the Tropicana Gold Project has been increased slightly to 78.6 million tonnes grading 2.12 grams Au per tonne containing 5.36 million ounces of gold, while the Ore Reserve estimate increased more significantly to 56.4 Mt grading 2.16 g/t Au containing 3.91 Moz of gold.

The gold price assumptions used in the Ore Reserve and Mineral Resource estimates are detailed in Table 3 .

Table 1

Table 1
	June 2011 Interim Ore Reserve			December 2010 Ore Reserve
Category	Tonnes (Millions)	Gold (g/t)	Contained Au (millions oz)	Tonnes (Millions)	Gold (g/t)	Contained Au (Millions oz)
Proved	25.8	2.30	1.90	24.1	2.26	1.75
Probable	30.6	2.04	2.01	23.9	2.11	1.62
Total	56.4	2.16	3.91	47.9	2.19	3.37

Table 2

Table 2
	June 2011 Mineral Resource			December 2010 Mineral Resource
Classification	Tonnes (Millions)	Gold (g/t)	Contained Au (millions oz)	Tonnes (Millions)	Gold (g/t)	Contained Au (Millions oz)
Measured	28.4	2.15	1.97	25.8	2.18	1.80
Indicated	43.9	1.89	2.67	28.8	2.04	1.89
Inferred	6.3	3.56	0.72	21.9	2.26	1.59
Total	78.6	2.12	5.36	76.5	2.15	5.28

Table 3

Table 3
Gold Price	Mineral Resource US$ A$ A$/US$	Ore Reserve US$ A$ A$/US$
Dec–10	1100.0 1309.5 0.84	880.0 1100.0 0.80
Jun – 11	1600.0 1400.0 1.14	1100.0 1210.0 0.91
**Change **	500.0 90.5 0.30	220.0 108.8 0.11

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ENDS

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Contacts
	Tel:			E-mail:
Alan Fine (Media)	+27 (0) 11 637- 6383	/	+27 (0) 83 250 0757	afine@anglogoldashanti.com
Andrea Maxey (Investors & Media)	+61 8 9425 4603	/	+61 400 072 199	amaxey@anglogoldashanti.com.au
Stewart Bailey (Investors)	+1 212 836 4303	/	+1 646 338 4337	sbailey@anglogoldashanti.com

Certain statements made in this communication, including, without limitation, those concerning the economic outlook for the gold mining industry, expectations regarding gold prices, production, cash costs and other operating results, growth prospects and outlook of AngloGold Ashanti’s operations, individually or in the aggregate, including the completion and commencement of commercial operations of certain of AngloGold Ashanti’s exploration and production projects, the completion of announced mergers and acquisitions transactions, AngloGold Ashanti’s liquidity and capital resources, and expenditure and the outcome and consequences of any litigation proceedings or environmental issues, contain certain forward-looking statements regarding AngloGold Ashanti’s operations, economic performance and financial condition. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, success of business and operating initiatives, changes in the regulatory environment and other government actions including environmental approvals and actions, fluctuations in gold prices and exchange rates, and business and operational risk management. For a discussion of certain of these factors, refer to AngloGold Ashanti's annual report for the year ended 31 December 2010, which was distributed to shareholders on 29 March 2011. The company’s 2010 annual report on Form 20-F, was filed with the Securities and Exchange Commission in the United States on May 31, 2011. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today’s date or to reflect the occurrence of unanticipated events. All subsequent written or oral forward-looking statements attributable to AngloGold Ashanti or any person acting on its behalf are qualified by the cautionary statements herein.

AngloGold Ashanti posts information that is important to investors on the main page of its website at www.anglogoldashanti.com and under the “Investors” tab on the main page. This information is updated regularly. Investors should visit this website to obtain important information about AngloGold Ashanti.

JORC Compliance: The information in this report that relates to Ore Reserves is based on information compiled by Marek Janas, a full time employee of AngloGold Ashanti Australia Ltd, who is a member of the AusIMM. Marek Janas has sufficient experience relative to the type and style of mineral deposit under consideration, and to the activity which has been undertaken, to qualify as a Competent Person (or Recognised Mining Professional) as defined in the 2004 Edition of the JORC Code. Marek Janas consents to the release of this reserve based on the information in the form and context in which it appears.

The information in this report that relates to Mineral Resources is based on information compiled by Mark Kent, a full-time employee of AngloGold Ashanti Australia Ltd, who is a member of the AusIMM. Mark Kent has sufficient experience relative to the type and style of mineral deposit under consideration, and to the activity which has been undertaken, to qualify as a Competent Person (or Recognised Mining Professional) as defined in the 2004 Edition of the JORC Code. Mark Kent consents to the release of this resource based on the information in the form and context in which it appears. The information in this report that relates to Exploration Results is based on information compiled by Mark Doyle, a full-time employee of AngloGold Ashanti Australia Ltd, who is a member of the AusIMM. Mark Doyle has sufficient experience relative to the type and style of mineral deposit under consideration and to the activity that has been undertaken, to qualify as a Competent Person (or Recognised Mining Professional) as defined in the 2004 Edition of the JORC Code. Mark Doyle consents to the release of this resource based on the information in the form and context in which it appears.