ACQUISITION OF A 51% INTEREST IN THE HIGHLY PROSPECTIVE OBUASI JOINT VENTURE,
GHANA

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO US NEWS WIRE SERVICES/

ANNOUNCEMENT TO THE TORONTO STOCK EXCHANGE

PERTH, Western Australia, Sept. 9 /CNW/ - The Board of Ratel Gold Limited ("Ratel", the "Company") (TSX Code : RTL) is pleased to announce it has exercised the option to acquire the 51% interest in the Obuasi Joint Venture, for the issue of 2.5M new shares in Ratel.

The Obuasi region has one of the highest gold endowments in the world and the project lies approximately 10 kms to the west of Obuasi, a field which has to date produced 26M ounces and last year produced 571,000 ounces of gold. The Joint Venture partner is Westchester Resources Limited and to date, in excess of US$1.3M has been spent on a recent exploration program. The concession covers approximately 130 km2 and the extentions of several NE/SW trending mineralized zones that host shallow oxide gold resources on Anglo Ashanti's ground to the north east. The joint venture interest is held by CAML Ghana Limited and transfer of control will be subject to securing any required Ministerial approval.

To view the Regional Location Map - Ghana please visit: http://files.newswire.ca/578/Ratel_Gold_Map.pdf

The key terms of the joint venture agreement include a commitment to spend US$1.1M, the majority of which has already been spent and up to US$2.5M on deferred purchase consideration, subject to satisfaction of various conditions.

ABOUT RATEL GOLD LIMITED

Ratel Gold Limited is listed on the main board of the Toronto Stock Exchange (TSX:RTL) and is a mining exploration company focused on developing gold and copper deposits in Africa.

The Company is earning a 51% interest in the Segilola Gold Project in Nigeria, the largest undeveloped gold resource identified in Nigeria and holds a 51% interest in the Mkushi Copper Project in Zambia. At the Segilola Gold Project, Ratel has identified a maiden NI 43-101 compliant indicated resource of 520,000 ounces of gold contained in 3,658,000 tonnes at a grade of 4.4g/t and an inferred resource of 97,600 ounces of gold contained in 790,200 tonnes at a grade of 3.8g/t from just the first pass 11,000m drill program.

Ratel also holds a 51% interest in the Obuasi Joint Venture in Ghana. The project lies approximately 10 kms to the west of Obuasi, a field which has to date produced 26M ounces and last year produced 571,000 ounces of gold. The Joint Venture partner is Westchester Resources Limited.

Ratel has an experienced management team, and is further supported by the management team of CGA Mining Limited, a 20% shareholder in the Company. CGA is a member of both the S&P/TSX Global Gold and Global Mining Indices. Ratel will be focused on further developing its current resource interests and identifying new opportunities in Africa to both grow its reserve and resource base and enhance the Company's ability to move quickly to a producer.

For further information about the Company, please refer to the Company's filings on SEDAR (www.sedar.com).

    
    NATIONAL INSTRUMENT 43-101 COMPLIANCE
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Mr Geoff.G.Jones, F.Aus.I.M.M.CP Mng, CGA's Consulting Engineer, is acting as the Qualified Person in compliance with NI 43-101 and JORC reporting requirements with respect to this announcement. He has prepared and or supervised the preparation of the scientific or technical information in this announcement and confirms compliance with NI43-101 and JORC requirements.

Mr. Alfred John Gillman of Odessa Resources Pty Ltd, an independent qualified person experienced in the style of mineralisation at the Segilola Gold Project, has completed the resource statement for the Segilola Project as referred to in this announcement, including verification of the sampling, analytical and test data underlying the estimate. Verification also included a site visit, database validation of historical drill results and a review of sampling and assaying protocols. The qualified person was satisfied with all of the protocols used during the drilling, sampling and in the Segilola resource estimate compilation and computation.

    
    CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
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This announcement includes certain "forward-looking statements" within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, the use of net proceeds are forward-looking statements. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. 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 the Company's expectations include uncertainties related to fluctuations in gold and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the development of the Company's mineral projects; the need to obtain additional financing to develop the Company's mineral projects; the possibility of delay in development programs or in construction projects and uncertainty of meeting anticipated program milestones for the Company's mineral projects; and other risks and uncertainties disclosed under the heading "Risk Factors" in the prospectus of the Company dated June 29, 2010 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com.

For further information: ENQUIRIES: Australian Contacts: Chief Executive Officer - Geoff Jones, Tel: [phone], Fax: [phone], Email: [email protected]; Director - Michael Carrick, Tel: [phone], Fax: [phone], Email: [email protected]; US Contact: Independent Chairman - Mark Savage, Tel: [phone], Fax: [phone], Email: [email protected]; www.ratelgold.com