Duration Gold Limited
("Duration" or the "Company")

CLOSES FIRST TRANCHE OF US $8.0 MILLION PRIVATE PLACING

Duration Gold Limited ("Duration" or the "Company"), the Zimbabwean focussed gold exploration and production company, is pleased to announce the closing of tranche one of its US $8.0 million private placing ("the Placing").  Subscribers included a UK based Institutional fund manager and high net worth individuals.

Allan Dolan, Chairman of Duration Gold commented: 

"The acceptance of this first round of outside funding is an exciting moment for Duration.  Participation in the Placing by these sophisticated investors confirms the Company's business plan and growth strategy, both in terms of its operations and contemplated acquisitions.  Duration is well positioned to capitalize on recent Zimbabwean legislative changes, including the ability to sell its gold production internationally at spot market prices and deal freely with the proceeds.  The Company looks forward to playing its part in the rebuilding of Zimbabwe's economy and the re-establishment of its gold mining industry."

The funds raised will be used to accelerate Duration's business plan, including the following:

·        Resource and reserve confirmation drilling,

·       Expansion of the Vubachikwe mine's CIL processing plant's capacity to 30,000 tonnes per month, a project already well advanced,

·       Specific acquisitions, and

·       General working capital purposes.

Errol Smart, CEO of Duration Gold commented:

"Since liberalization of Zimbabwe gold sales in February of this year, Duration has re-commenced commercial production and implemented an aggressive business plan.  Our highly experienced Zimbabwe management team and over 1,400 skilled employees, are dedicated to achieving the Company's growth and production targets.  Zimbabwe holds impressive resource potential and Duration is at the forefront of its responsible development."

Ends

For further information on Duration Gold and Clarity Capital you are invited to visit our websites:  www.claritycapital.com or contact one of the following:

Duration Gold

Errol Smart/Michelle Jenkins                                                

errol@claritycapital.com michelle@claritycapital.com

Tel +27 (0) 83 3082044                                                        

Clarity Capital Management

Allan Dolan/Carmen Storey

allan@claritycapital.com carmen@claritycapital.com
                                                   
Tel +44 (0) 20 7591 4437 / 4436                                          

Pelham PR
Charles Vivian/James MacFarlane  

charles.vivian@pelhampr.com  james.macfarlane@pelhampr.com                         

Tel +44 (0) 20 7743 6670 / 6375                                  

Notes to Editors:

About Duration Gold and Clarity Capital

Duration Gold Ltd., a private Jersey, Channel Islands company, holds an extensive portfolio of gold mines and advanced stage projects in Zimbabwe and is one of the largest gold producers in that country.  Mining recommenced in mid February 2009 with the blessing of the Transitional Government.  The company currently employs over 1,400 Zimbabweans.  Duration, Clarity's flagship company, has an installed production capacity of 4200 oz/mth with a business plan to take our current asset base to 250,000 oz per year within 5 years.

Clarity Minerals Ltd., is an African based, integrated, private mining house wholly owned by Jersey headquartered Clarity Capital Group. Clarity's international mineral team consists of over 25 highly experienced technical and commercial specialists that thrive on founding and growing successful mineral companies in Africa.  Clarity's current company portfolio consists of 8 project companies with operational offices in South Africa, Tanzania, Namibia, Zambia and Zimbabwe and corporate offices in the UK, South Africa and Canada. Clarity strives to deliver extraordinary capital appreciation through responsible mineral exploration and development.