Windhoek — Australian gold miner, Gold One International announced this week that the company's shareholders have overwhelmingly approved a resolution with a 99,98% majority vote to amend the company's listing status on the JSE from primary to secondary. Gold One is the exploration company driving the Etendeka gold project in Namibia.

Their dual primary listing required that Gold One complies fully with the provisions of the JSE Listings Requirements and the Australian Stock Exchange listing rules.

The costs and administrative requirements associated with Gold One having to comply with the requirements and rules of two different exchanges are significant and Gold One believes that its shareholders' best interests will not be prejudiced by Gold One complying in full with the ASX Listing Rules and complying with the JSE Listings Requirements only to the extent required for secondary dual listings on the JSE.

The actual reclassification on the JSE system will be effected at commencement of business on Monday, 15 March 2010. Trading of the shares on the JSE will not be effected by the change in listing status.

Commenting on the vote, President and CEO of the company, Neal Froneman said "The vote by our shareholders is by no means a reflection of the quality of shareholders on the JSE or the exchange itself, but simply a vote of confidence in our future corporate strategy which will be beneficial for all our shareholders."

Local subsidiary Etendeka Prospecting and Mining is currently exploring for precious and base metal mineralization approximately 400km north - west of Windhoek. The main geological structure (known as the Kamanjab Inlier) extends for some 250km in an east-west direction and is up to 110km wide.

The principle target is iron-oxide copper-gold (IOCG) mineralization associated with late-stage, porphyritic high-heat production granites of the Kaross Granite Suite.

The company has been awarded an exclusive prospecting licence (EPL) over an area covering some 65,000 hectares at Etendeka.