rns

DJ Scotgold Resources Ltd Planning Approved at Cononish

TIDMSGZ

RNS Number : 8232Q

Scotgold Resources Ltd

25 October 2011

25 October

Scotgold Resources Limited

("Scotgold" or the "Company")

Planning approved at Cononish

The Directors of Scotgold Resources Limited are pleased to announce that the National Park Authority Board (the "Parks Board") has voted in favour of granting planning permission for the Cononish Gold and Silver project. The decision follows the recommendation of the Executive Director of Planning and Rural Development of the Loch Lomond and Trossachs National Park (the 'Executive Director').

The recommendation to grant is subject to concluding a number of legal agreements and outstanding issues with the Executive Director which the Company expects to be finalised satisfactorily.

Scotgold's Chief Executive Officer, Chris Sangster commented:

"We are delighted with the decision from the Parks Board in approving the Executive Director's recommendation. This represents the culmination of three years' detailed work towards planning a mining development which meets the exacting environmental standards required by the National Park Authority. The Cononish Project provides a significant commercial opportunity in the interests of all stakeholders, in particular the local community which has been a keen supporter for a development that promises increased local employment and economic activity.

"The Company and its agents have enjoyed a close working relationship with the National Park Authority, particularly over the past year following the negative planning decision in August 2010. The Scotgold Board would like to acknowledge the significant assistance and contribution from the National Parks Authority, their advisors and other consultees, whose constructive collaborative approach has served to guide a number of key aspects of the application."

The Company will make a more detailed release regarding the project in due course.

For further information:

United Kingdom:

Scotgold Resources Westhouse Securities Bankside Consultants

Limited Limited

Chris Sangster (CEO) Richard Baty / Petre Simon Rothschild