Giyani Gold Discovers New Western Extension to the Klein Letaba Trend - Giyani, Limpopo, South Africa

OAKVILLE, ON, Oct. 31, 2012 /CNW/ - Giyani Gold Corp. (TSXV: WDG) ("Giyani Gold") has discovered new gold bearing zones on its Klein Letaba-Frankie property. The discovery occurred in drill hole KL12-06, located 800m west of the gold discovery from hole KL12-01 (see news release dated September 7, 2012.) Drill hole KL12-06 intersected three zones, two of which are new discoveries ("Pyrite Zone" and "Quartz Zone"), and a previously discovered zone ("Middle Zone") (see news release dated October 17, 2012.)

• 1.541 g/tonne Au over 10m - from 23m to 33m (Pyrite Zone)
• 0.919 g/tonne Au over 10m - from 79m to 89m (Middle Zone)
• 0.206 g/tonne Au over 29.5m - from 103.5 to 141m (Quartz Zone)

Including:

• 2.088 g/tonne Au over 6m (Pyrite Zone)
• 7.66 g/tonne Au over 1.6m (Middle Zone)

The true width of these intercepts is estimated to be 66% of the cored length containing the assays. Additional holes are required to establish the true width of the intercepts.

"The newly discovered zones in Hole KL12-06 show potential for discovering other similar deposits along the Klein Letaba trend." said R.S. Middleton, VP of Exploration for Giyani Gold Corp. "They also indicate a new class of deposit with wider width potential."

Following the completion of the current phase of Giyani Gold's drill-program, it is management's intent to drill step out holes to trace this new zone.

Assay results from Hole KL12-06 are summarized in the following tables:

*All assay results are uncut.  All the assay results and sub-intervals summarized in the tables above have a bottom cut-off of 0.05 g/tonne of gold. All assay results greater than 3 g/tonne have been re-assayed.  Average grades presented are shown as weighted averages.

As part of Giyani Gold's Quality Assurance and Quality Control procedures (QA/QC), all of the intervals exceeding 3 grams Au have been re-assayed.  In addition, systematic re-assaying of intervals is in progress to confirm the compliance of blanks and duplicate checks.  Giyani Gold's QA/QC includes the insertion and continual monitoring of numerous standards, blanks and duplicated into the sample stream every 50m and a blank in between this 50m interval.  ALS Chemex (Johannesburg) also performs internal QA/AC.

Cross sections and correlations between this hole and other holes will be published once assays from other holes are reported.  Any future resource calculations will be calculated from compliant intervals, and if there is any material variation from the reported intervals on a hole by hole basis, then Giyani Gold will report this in subsequent releases, but it is of the opinion of Giyani Gold that any variations are unlikely to be material.

In Giyani Gold's drill programs, composite intervals are chosen using a combination of geological criteria and mineralization, averaging approximately 1 meter core length.  The drill core is logged and then is cut in half by Giyani Gold technicians at a secure core shack facility near the Klein Letaba mine with guarded and controlled access to the site.  One half of the core samples are then sent by secure courier to Johannesburg to ALS Chemex.  All drill samples are prepared and screened by ALS Chemex (Johannesburg) using fire assay and multi-element ICP-MS and are assayed by ALS Chemex in Johannesburg.  The remaining half of the drill core is kept at Giyani Gold's secure core shack for future assay verification or any other investigation.  Intervals below a bottom cut-off grade of 0.05 g/tonne Au are calculated at zero gold.

Assaying is done on a 30 gram pulp generated from split NQ core using fire assay extraction and an AA finish. High grade samples like the ones obtained in Hole 1 are done with a gravimetric finish.  Any gold values over 3.0 g/tonne were re-assayed and completed with a gravimetric finish.

This news release has been reviewed and approved by R.S. Middleton P.Eng. who is acting as the Qualified Person for the Giyani Gold under the NI43-101 regulations. Additional information and corporate documents may be found on www.sedar.com and the Giyani gold website, www.giyanigold.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

On behalf of the Board of
Giyani Gold Corp.
"Duane Parnham"
Executive Chairman

Forward Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release or other future plans, objectives or expectations of Giyani Gold Corp. are forward-looking statements 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 Giyani Gold's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by Giyani Gold with securities regulators. Giyani Gold expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

SOURCE: Giyani Gold Corp.