Directors

Andrew Daley, GDip Geos. BSc (Hons) Min Eng MIOM³ FAusIMM CEng, Non-executive Chairman, Age 58

Andrew is currently a director of Investor Resources Finance Pty Ltd (IRF), a corporate advisory firm in Melbourne, Australia specialising in the mining and resources sector and a director of Australian Resources Investment Group Pty Ltd, a joint venture between IRF and Babcock and Brown, an Australian investment bank. After graduating from Nottingham University in 1970, he spent 11 years working on mining projects in Africa. This included several years in operations, on the Zambian Copperbelt for Anglo American, in Namibia for Rio Tinto and in Niger for Conoco Minerals. Relocating to Australia as senior engineer with Fluor Australia in 1981, Andrew worked on several gold, base metal and coal project studies in Australia, Papua New Guinea, China and Indonesia. In late 1983, he joined the National Australia Bank resources project finance team in Melbourne. Since that time, he has specialised in the resource finance sector. He has held the positions of executive director and state manager of National Australia Bank’s investment bank in Sydney, head of Barclays Australia’s resource team in Sydney, head of Chase Manhattan’s project finance team in Melbourne and more recently was director of Barclays Capital mining team in London. Andrew is also a non-executive director of Pan Australian Resources Ltd, Kentor Gold Ltd, Uranex NL and Chairman of Dragon Mining Limited (all listed on the Australian Stock Exchange). In the past three years he has also been a director of AIM-listed Gladstone Pacific Nickel Limited (resigned December 2007).

Terrance Ward, BSc (Hons) Mining MSc Eng Prod FAusIMM FIOM³, Managing Director, Age 66

Terry is a minerals industry consultant. After graduating with an Honours degree in Mining Engineering from Birmingham University, Terry spent over 30 years working in the African and Australian mining industries, including 16 years working for CRA (now Rio Tinto) in Australia. Positions of responsibility have included: underground manager at Harmony Gold Mine, South Africa, managing director of Bogoso Gold Limited, Ghana, directeur générale of Mines D’Or D’Akjoujt S.A., Mauritania, general manager (operations), Tom Price, Hamersley Iron Limited, Australia, general manager, Mary Kathleen Uranium Ltd, general manager (development) Rudall River Uranium Project (Kintyre), Australia and executive manager, ALF Management Limited (the manager of the African Lion Fund). Since early 2002, Terry has been an independent consultant for several United Kingdom companies, including Ambrian. He is non-executive chairman of Uranex NL, an Australian listed uranium exploration and development company and a non-executive director of Geiger Counter Limited, a nuclear industry investment fund.

John Bottomley, FCIS, Non-executive Director and Company Secretary, Age 62

John is head of Company Secretarial Services at Sprecher Grier Halberstam LLP, solicitors, and is Company secretary to both AIM and fully listed companies, as well as holding a number of Non-Executive Directorships. He is a Fellow of the Institute of Chartered Secretaries and Administrators having qualified as a Chartered Secretary in 1972 whilst with PricewaterhouseCoopers. John then worked for a number of property companies and was a director of Robert Fraser & Partners Limited, an authorised institution, between 1985 and 1992.

Roger Clegg, BSc (Hons) MSc ARSM, Non-executive Director, Age 37

Roger is Head of Business Development for Ambrian Capital, the natural resource and new technology investment bank. He is also a director of the regulated subsidiaries, Ambrian Asset Management and Ambrian Commodity Limited. He has 10 years’ investment banking experience after 4 years as an exploration geologist with ACA Howe. He joined Ambrian from the Mining & Metals Team at Barclays Capital, where he was an Associate Director responsible for mining clients in Africa, Russia and Australasia. Roger previously worked in the Project Finance Division at Dresdner Kleinwort Benson and as a Mining Equity Analyst at Williams de Broë. Roger graduated from the Royal School of Mines in 1997 with a BSc and an MSc in Mineral Project Appraisal. Roger is President of the Royal School of Mines Association.

Senior Management

Dr Kebede Hailu Belete, Country Manager: Ethiopia.

Dr. Kebede Hailu Belete holds a BSc. (Hons) Applied Geology, Addis Ababa University, Ethiopia, an MPhil in Economic Geology from Leicester University, UK, and a PhD from Graz University, Austria. The subject of his PHD thesis was “Platinum mineralisation at the Yubdo ultramafic deposit”. He has over 17 years exploration and management experience with the Geological Service of the Ethiopian Ministry of Mines and Energy and several overseas exploration companies with operations in Ethiopia. He has been with group since 2001 and he and his team are responsible for the discoveries at Tulu Kapi, Guji and Gudeya-Guji.

Rashid Jaboev, General Manager: Technical Services Division, Kyrgyz Republic

Rashid Jaboev is an Exploration Engineer by training with over 27 years of experience n the metals and mining sector in a variety of exploration and new business functions. Rashid has worked in Central Asia, Russia and Africa in a number of leadership roles, including the period 1983-1988 spent as the Head of the Technology Department, North Kyrgyz Geological Expedition. He has been with the group since 2003 and is responsible for providing geotechnical services to exploration companies in the region.

Gary Vermaak, Chief Financial Officer

Gary holds a B. Com. from the University of the Free State, South Africa, is a Chartered Secretary and a Chartered Management Accountant with 17 years experience in the minerals industry in South Africa and has held senior management positions with Escom, De Beers and Anglo Platinum. He joined the group in January 2008.