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Fri 18 May 2007, 9:12 GDF - Gold Reef Resorts Limited - Further cautiona
GDF
 GDF                                                                             
GDF - Gold Reef Resorts Limited - Further cautionary announcement               
Gold Reef Resorts Limited                                                       
Incorporated in the Republic of South Africa                                    
(Registration number 1989/002108/06)                                            
("the Company")                                                                 
Share code: GDF                                                                 
ISIN: ZAE000028338                                                              
Further Cautionary Announcement                                                 
Further to the cautionary announcements released on 9 March 2007 and 3 May 2007 
shareholders are advised that in response to a number of approaches received by 
the Company, the Company has entered into exploratory discussions with selected 
parties which may result in an offer for the entire Company. Discussions are at 
a preliminary stage and there can be no certainty that an offer for the Company 
will ultimately be made.                                                        
In the event that an offer is made it may have a material effect on the price of
the Company`s securities. Accordingly, shareholders are advised to continue     
exercising caution in their dealings in the Company`s securities until a further
announcement is released.                                                       
Johannesburg                                                                    
18 May 2007                                                                     
Transaction sponsor                                                             
Merrill Lynch South Africa (Pty) Limited                                        
Sponsor                                                                         
Nedbank Capital                                                                 
Date: 18/05/2007 09:12:01 Produced by the JSE SENS Department.
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