Gemfields Completes Faberge Branding Arrangements

    Gemfields Resources plc

Gemfields completes Faberg� branding arrangements

1 September 2008

Gemfields Resources plc ("Gemfields" or "the Company", Ticker "GEM") is pleased
to announce that it has completed the arrangements granting it an exclusive
worldwide licence to use the Faberg� brand name in respect of coloured
gemstones (excluding diamonds).

Gemfields intends that the Faberg� name be reserved for high-end, conflict-free
and ethically mined gemstones of guaranteed provenance. In addition, Faberg�
gemstones will be individually numbered and certificated to ensure
traceability.

Rajiv Gupta, founder and Executive Vice Chairman of Gemfields, said: "This is
about doing justice to the most remarkable and special coloured gemstones in
the world. The Faberg� name, one of the most revered in history, captures
brilliantly how exclusive such coloured gemstones are. Importantly,
Faberg�-branded gemstones will be available to a number of carefully selected
partners and customers. We expect that the first Faberg� colour gemstones will
be available in 2009".

Gemfields CEO Sean Gilbertson said: "Coloured gemstones were a key theme in the
remarkable works of Peter Carl Faberg�. Gemfields' ability to deploy the
Faberg� name on coloured gemstones continues that association and adds yet
another compelling layer to Gemfields' vision of bringing high grade, ethically
produced, conflict-free gemstones of certified provenance directly from the
mine to the market on an integrated basis

The licence, granted pursuant to an option which Gemfields acquired in June
2008, covers an initial 15 year term.

For more information: www.gemfields.co.uk

Richard James, CFO [e-mail]

Gemfields Resources plc Tel: [phone]

Mike Jones/Tarica Mpinga [phone]

Canaccord Adams Limited

(NOMAD and Joint Broker)

Neil Passmore/Sam Critchlow [phone]

JP Morgan Cazenove

(Joint Broker)

Charlie Geller/Ed Portman [phone]/ [phone]

Conduit PR

ABOUT GEMFIELDS:

Gemfields, the brainchild of Executive Vice Chairman Rajiv Gupta, is a leading
international coloured gemstone producer with assets in Zambia, Madagascar and
India. Gemfields seeks to become the leading source of premium coloured
gemstones through consolidation and vertical integration on an international
scale. Gemfields' key producing asset is the 75% owned Kagem emerald mine in
Zamia. Kagem is the largest non-diamond gemstone mine in the world.

In June 2008, Rox Limited (a portfolio company of Pallinghurst Resources)
acquired some 55% of Gemfields' issued share capital. Pallinghurst Resources is
chaired by Brian Gilbertson, the former CEO of BHP-Billiton plc.

In August 2008, Gemfields officially opened a wholly-owned cutting and
polishing facility in Jaipur India, marking a significant step in vertically
integrating the gemstone supply chain. Gemfields is presently uniquely
positioned to bring high grade, ethically produced, conflict-free emeralds of
certified provenance directly from the mine to the market on an integrated
basis.

ABOUT FABERG�:

Faberg� Ltd (an independent portfolio company of Pallinghurst Resources)
acquired Unilever plc's worldwide portfolio of trademarks, licences and
associated rights relating to the Faberg� brand name in January 2007. Unilever
had owned the brand since 1989, when it purchased Faberg� Inc (then a leading
cosmetics company) for US$ 1.55 billion.

Faberg� Ltd's goal is to honour Faberge's original standards of exclusivity,
design and craftsmanship and to focus on highly exclusive objects of art,
jewellery and other treasures.

Faberg� underwent two dramatic setbacks in the first half of the 20th century.
The first was the Bolshevik revolution of 1917 which resulted in the scattering
of the Faberg� family, a violent end to production from the Faberg� workshops
and the loss of many treasures. As a result, the Faberg� family has not been
significantly involved in the production of Faberg�-branded items for almost 90
years.

Secondly, in 1951 the Faberg� family effectively lost the rights to use their
family name in marketing Faberg�-branded designs when protracted and expensive
litigation forced on them a settlement that ceded the rights to an American
corporation in return for only US$ 25,000.

These setbacks came full circle in October 2007 when Faberg� Ltd announced the
reunification of the Faberg� brand with the Faberg� family. The announcement
set the stage for a new generation of authentic Faberg� designs.

Mr Mark Dunhill, the former President of Alfred Dunhill Ltd, was appointed as
the CEO of Faberg� Ltd on 1 November 2007. Mr Dunhill has since selected and
appointed a top tier team of luxury sector specialists.

Tatiana and Sarah Faberg�, together with Mr John Andrew (a long-standing friend
of the Faberg� family), make up the founding members of the Faberg� Heritage
Council which counsels the unified Faberg� in its pursuit of excellence and
exclusivity. Theo Faberg� became a member shortly before he died and now holds
a Memorial Seat on the Council. Dr G�za von Habsburg, one of the world's
leading Faberg� experts, has been appointed as Curatorial Director.

Faberg� is expected to launch its first new collection in 2009.



END