Board Change

22nd Jan 2008 16:23

African Minerals Ltd22 January 2008 African Minerals Limited ("African Minerals" or "the Company") Change of Directors African Minerals Limited (AIM:AMI), the mineral exploration company focused onSierra Leone, West Africa, is pleased to announce the appointment of Mr. MarkAshurst as Non-Executive Director, effective today. Mr. Ashurst, aged 49, has been employed as a senior investment banker andacquired a broad range of corporate finance and broking skills gained from over20 years experience in the City of London. Institutions Mark has worked forinclude BZW Limited, Hoare Govett Limited and, most recently, Canaccord AdamsLimited. He has advised both UK and overseas listed companies and hassignificant expertise in IPOs, fund raisings and mergers and acquisitions. Markgraduated from Sheffield University with a degree in law and qualified as aBarrister. He is also a member of the Institute of Chartered Accountants inEngland and Wales having qualified as a Chartered Accountant with PriceWaterhouse in London. Mark is currently the Chief Financial Officer of a privateoil and gas company. The Company also announces that Mr. David Gadd-Claxton, President of DiamondExploration and Production, has resigned from African Minerals Limited effective21 January 2008. Mr. Paul Young, currently Vice President Exploration, will headup the Company's diamond operations. Mr. Young has over 20 years experience inthe minerals industry and has held the positions of Group Mineral ResourceManager with Debswana Diamond Mining Company and Exploration Manager with DeBeers in Botswana. Commenting on the Board changes, Frank Timis, Executive Chairman of AfricanMinerals said: "Mark's appointment further strengthens the Board as the Company accelerates itsstrategy to become a diversified minerals producer in Africa. Mark brings to theCompany extensive City of London experience in corporate finance and broking andis very well qualified to chair the Company's Audit Committee and will also be amember of the Remuneration Committee." "On behalf of the Board, I would like to thank David Gadd-Claxton for hiscontribution to the Company over the past few years and wish him all the bestfor the future." There is no information in relation to Mr. Ashurst's appointment requiredpursuant to Schedule 2 paragraph (g) of the AIM rules for Companies other thanas follows: As at today, Mr. Ashurst is beneficially interested in 61,350 shares in AfricanMinerals Limited. Enquiries: African Minerals Limited Tel: +44 (0) 20 7849 3002 Frank Timis Roy Pitchford Canaccord Adams Limited Tel: +44 (0) 20 7050 6500 Mike Jones Robin Birchall Citigate Dewe Rogerson Tel: +44 (0) 20 7638 9571 Media enquiries: Martin Jackson/Kate Delahunty Analyst enquiries: Scott Fulton This information is provided by RNS The company news service from the London Stock Exchange

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