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Sale of South Kal to Dioro

Johannesburg, 30 July 2007. Harmony Gold Mining Company Limited (Harmony) announces that it has signed an agreement with Dioro Exploration NL (Dioro) for the sale to all rights, title and interest of the South Kal Mine Operations located near Kalgoorlie, Western Australia.

Dioro Exploration NL (Dioro) is an ASX listed company with diversified mineral interests in Western Australia.

The sale of the South Kal Mine to Dioro is subject to and conditional upon the fulfilment of the following significant conditions precedent:

  1. Dioro obtaining from its shareholders the necessary approval to conclude the transaction of this agreement.
  2. Dioro raising the required capital of at least A$35 million (approximately R210 million) in terms of this agreement for the acquisition of South Kal.
  3. The obtaining by the parties of all governmental and other regulatory approvals necessary for the conclusion and implementation of the agreement.

The consideration payable to Harmony by Dioro for the sale of the assets is as follows:

  • the sum of A$25 million (approximately R150 million) payable in cash to Harmony on completion; and
  • the issue of the Consideration Shares to the value of A$20 million (approximately R120 million) to Harmony.

The closing date of the transaction is expected to be during October 2007.

Bernard Swanepoel, Harmony’s Chief Executive says, “the proposed sale of South Kal is in line with our three-pronged strategy of which disposals is one component. The sale of these assets will bring further efficiency gains and provide capital for our higher value projects in South Africa and Papua New Guinea.”

For more details contact:

Bernard Swanepoel
Chief Executive
+27(0)83 303 9922

Amelia Soares
General Manager, Investor Relations
+27(0)82 654 9241

Lizelle du Toit
Investor Relations Officer
+27(0)82 465 1244

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