Gemfields exercises option to acquire Oriental Mining

The Board of Gemfields Resources plc is pleased to announce that the Company has exercised its option to acquire the entire issued share capital of Oriental Mining s.a.r.l., a company incorporated in Madagascar (“Oriental”). Gemfields was granted the option by Rox Limited (“Rox”) pursuant to the agreement between Gemfields and Rox dated 18th December 2007.

Oriental has the rights to fifteen exploration licences covering emeralds, rubies, sapphires, tourmalines and garnets in the Antananarivo, Fianarantsoa and Toliara provinces of Madagascar. In addition, Oriental has the right to five exploration licences that are pending approval from the Madagascan Ministry of Energy and Mines.