Cluff Gold plc: Directors' Shareholdings

LONDON, Dec. 21, 2011 - Cluff Gold plc ("Cluff Gold" or the "Company"), (AIM:CLF) (TSX:CFG) the dual AIM/TSX listed West African-focused gold mining company, announces that at a meeting of the Company held on 20th December 2011, it was agreed that each non-executive director of Cluff Gold (Messrs Nicholas Berry, Algy Cluff, Robert Danchin, Timothy Wadeson, Peter Cowley, Ronald Winston and Geoff Stanley) would be issued with £5,000 of ordinary shares of 1p each in the Company ("Ordinary Shares"), in accordance with the terms of their individual letters of appointment.

In total, 45,911 new Ordinary Shares have been issued at a price of 69.88p, being the closing mid-market price on 19th December.

The details of each Director's interest are set out below:

Name 	Shares Allotted 	Existing Holding 	Total Holding 	Percentage of
Enlarged Share Capital
Nicholas Berry 	7,155 	426,585 	433,740 	0.33
Algy Cluff * 	2,981 	1,870,000 	1,872,981 	1.42
Peter Cowley 	7,155 	26,620 	33,775 	0.03
Robert Danchin 	7,155 	51,585 	58,740 	0.04
Geoff Stanley 	7,155 	14,901 	22,056 	0.02
Timothy Wadeson 	7,155 	76,585 	83,740 	0.06
Ronald Winston 	7,155 	12,434,855 	12,442,010 	9.43

* Mr Cluff's allocation is pro-rated pursuant to his appointment as Non-Executive Chairman on 1 August 2011

Application will be made for the new Ordinary Shares to be admitted to trading on the London Stock Exchange's AIM market for listed securities ("Admission"). Pending acceptance and approval, Admission and dealings in the new Ordinary Shares are expected to occur on or around on 30 December 2011. The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares.

Following Admission, the total issued share capital of the Company will be 131,897,937 Ordinary Shares, all of which have voting rights.

The above figure 131,897,937 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of Cluff Gold under the FSA's Disclosure and Transparency Rules.


About Cluff Gold

Cluff Gold is a gold developer-producer with assets in West Africa. The Company generates significant cash flow through its Kalsaka gold mine in Burkina Faso. The Company remains focused on its objective of becoming a mid-tier producer through the development of its wholly-owned Baomahun project in Sierra Leone, which is expected to contribute an additional 150,000oz of gold per annum, with significant exploration potential along strike. With its experience of bringing new mines into production and a project pipeline of exploration licenses in Burkina Faso and Mali, the Company aims to further increase its production profile with its highly prospective exploration work across all assets.

Baomahun is Cluff Gold's defining development gold project in Sierra Leone. Definitive feasibility study work is progressing in the immediate resource area, where 2.1Moz of indicated resources 25.6Mt at 2.5g/t) and a further 0.9Moz of inferred resources (comprising 9.6Mt at 2.8g/t) have been delineated to date. The current resource base is limited to only 1.5km of a total 12km strike length which remains largely unexplored to date.

The Company is employing a two-fold strategy for Baomahun: to advance towards production with the current resources while delineating additional ounces along strike.


This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, the positioning of the Company for future success, statements regarding potential future production at Baomahun, and future objectives of Cluff Gold, are forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Cluff Gold's expectations include, among others, risks related to international operations, the actual results of current exploration and drilling activities, changes in project parameters as plans continue to be refined as well as future price of gold. Although Cluff Gold has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cluff Gold does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.

NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.



Contact Information

Cluff Gold plc
Pete Gardner, Finance Director
+44 (0) 20 7340 9790

Cluff Gold plc
Catherine Apthorpe,Company Secretary
+44 (0) 20 7340 9790

Collins Stewart Europe Limited
John Prior, Corporate Broking
+44 (0)20 7523 8350

Collins Stewart Europe Limited
Adam Miller, Corporate Broking
+44 (0)20 7523 8350

Collins Stewart Europe Limited
Sebastian Jones, Corporate Broking
+44 (0)20 7523 8350

Pelham Bell Pottinger
Lorna Spears, Investor Relations (Global)
+44 (0) 20 7861 3232

Pelham Bell Pottinger
Philippe Polman, Investor Relations (Global)
+44 (0) 20 7861 3232

Farm Street Communications Limited
Simon Robinson, Press Relations (U.K.)
+44 (0) 7593 340 107