Filed by AngloGold Ashanti Limited

This communication is filed pursuant to Rule 425 under The Securities Act

of 1933, as amended.

Subject Company: Golden Cycle Gold Corporation

Commission File Number: 333-149068

news release

AngloGold Ashanti Limited \ (Incorporated in the Republic of South Africa)
(Reg. No.1944/017354/06) \ ISIN Number: ZAE000043485
Corporate Affairs Department: \ 3rd Floor \ 76 Jeppe Street \ Johannesburg \ 2001 \ South Africa
Tel +27 (0)11 637 6317 \ Fax +27 (0)11 637 6399/6400 \ www.AngloGoldAshanti.com

GRANTING OF OPTIONS TO DIRECTORS AND COMPANY SECRETARIAL PERSONNEL OF
ANGLOGOLD ASHANTI LIMITED IN TERMS OF THE ANGLOGOLD SHARE INCENTIVE SCHEME

In terms of JSE Listings Requirement 3.63 we hereby provide the following information regarding the granting of
options by the Company in terms of the AngloGold Share Incentive Scheme to directors and company secretarial
personnel.

Date of notification

:

17 March 2008

Date of grant

:

29 February 2008

Vesting date

:

29 February 2011

On 29 April 2005, shareholders approved the introduction of two new
incentive plans, the key terms of which were disclosed. The bonus share
plan provides for the vesting of awards, in full, three years from date of
service, provided that the participant is still in the employ of the company
at the date of vesting. Awards granted in terms of the long-term
incentive plan vests three years after date of service, to the extent that
the performance conditions, under which the awards were granted, are
met. Any awards not exercised by 29 February 2018 will lapse.

Strike price

:

NIL cost to participant

Class of security

:

Awards to acquire ordinary shares

Type of interest

:

Direct beneficial

Clearance was obtained in terms of 3.66 of the JSE Listings Requirements.

Name Designation

Bonus Share

Plan

Long-Term

Incentive Plan

Cutifani : M

Director and CEO

3,607

32,982

Venkatakrishnan : S

Director and CFO

6,417

20,595

Simelane : YZ

Vice President – compliance and corporate
administration                                                                                   1,586

7,522

Eatwell : L

Company Secretary

359

4,044

11,969 65,143

Total awards granted to directors and company secretarial personnel

The awards granted above form part of a total award grant of

366,192 347,366

Number of participants

1,479

82

Market value per award at date of grant

R267.05

R267.05

Johannesburg
18 March 2008

JSE Sponsor : UBS Limited

Queries

South Africa

Tel:

Mobile:

E-mail:

Himesh Persotam

+27 (0) 11 637 6647

+27 (0) 82 339 3890

hpersotam@AngloGoldAshanti.com

Certain statements made during this communication, including, without limitation, those concerning the economic outlook for the gold mining
industry, expectations regarding gold prices, production, cash costs and other operating results, growth prospects and the outlook of
AngloGold Ashanti’s operations including the completion and commencement of commercial operations of certain of AngloGold Ashanti’s
exploration and production projects, and its liquidity and capital resources and expenditure, contain certain forward-looking statements
regarding AngloGold Ashanti’s operations, economic performance and financial condition. Although AngloGold Ashanti believes that the
expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to
have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among
other factors, changes in economic and market conditions, success of business and operating initiatives, changes in the regulatory
environment and other government actions, fluctuations in gold prices and exchange rates, and business and operational risk management.
For a discussion of such factors, refer to AngloGold Ashanti's annual report for the year ended 31 December 2006, which was distributed to
shareholders on 29 March 2007. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-
looking statements to reflect events or circumstances after today’s date or to reflect the occurrence of unanticipated events.

In connection with the proposed merger transaction involving AngloGold Ashanti and Golden Cycle Gold Corporation, AngloGold Ashanti has
filed with the SEC a registration statement on Form F-4 and GCGC will mail a proxy statement/prospectus to its stockholders, and each will
be filing other documents regarding the proposed transaction with the U.S. Securities and Exchange Commission (“SEC”) as well. BEFORE
MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS
REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY WHEN THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The final proxy
statement/prospectus will be mailed to GCGC’s stockholders. Stockholders will be able to obtain a free copy of the proxy
statement/prospectus, as well as other filings containing information about AngloGold Ashanti and GCGC, without charge, at the SEC’s
Internet site (http://www.sec.gov). Copies of the proxy statement/prospectus and the filings with the SEC that will be incorporated by
reference in the proxy statement/prospectus can also be obtained, without charge, by directing a request to AngloGold Ashanti, 76 Jeppe
Street, Newtown, Johannesburg, 2001 (PO Box 62117, Marshalltown, 2107) South Africa, Attention: Investor Relations, +27 11 637 6385, or
to Golden Cycle Gold Corporation, 1515 S. Tejon, Suite 201, Colorado Springs, CO 80906, Attention: Chief Executive Officer, (719) 471-
9013."