Directorate Change

18 November 2014

Bellzone Mining plc

("Bellzone" or"the Company")

Board Changes

Bellzone Mining plc (AIM: BZM) is pleased to announce a number of changes to its Board of Directors. The changes reflect greater involvement of the Company's major shareholder China Sonangol International (S) Pte Ltd ("China Sonangol") in the strategy and development of Bellzone.

Mr. Kum Hon Tung (55) has been appointed by the Board as an Executive Director of the Company. He was the Country Head, Singapore and Indonesia, for China Sonangol and formerly the Group Chief Operating Officer of China Sonangol Group. Mr. Tung has stepped down from his role at China Sonangol in order to take up the full-time Executive Director role at Bellzone but will retain his Non-Executive roles at the China Sonangol Group companies noted below. Mr. Tung has also been appointed as acting Chief Financial Officer ("CFO"), following the resignation of Mr. Terry Larkan as CFO and from the Board of Directors.

In addition, Mr. Glenn Baldwin has resigned from the Board of Directors and his role as Chief Executive Officer ("CEO") of the Company. Mr. Baldwin's and Mr. Larkan's resignations are effective immediately but both have agreed to assist during a hand-over period. The new Board, as set out below, will meet in the near future to discuss the appointment of a new CEO.

Prior to joining China Sonangol, Mr. Tung was the Chief Financial Officer and Executive Director of Shanghai Asia Holdings Ltd., a publicly listed company on the Singapore Stock Exchange ("SGX"), from 2004 to 2011. He served as Special Assistant to the Executive Chairman, Head of Investor Relations and Senior Vice President of Corporate Development & Finance at New Toyo International Holdings Ltd, a publicly listed company on the SGX, from 2003 to August 2004. He was also formerly the Chief Operating Officer of the Bintang Melewar group of companies, Malaysia, and financial adviser to its Executive Chairman, HRH Tunku Tan Sri Abdullah of the Negeri Sembilan royal family.

Mr. Tung was a Non-Executive Director of Tien Wah Press Holdings Bhd, a public company listed on Bursa Malaysia, chairing the Nomination Committee and serving as a member of the Audit and Investment & Finance Committees. 

Mr. Tung is a Certified Public Accountant and Chartered Accountant, and a Member of the Malaysian Institute of Certified Public Accountants and the Malaysian Institute of Accountants. He has over 15 years' experience in public accountancy, business advisory and transaction services with PriceWaterhouseCoopers, Hong Kong and Malaysia, and KPMG, Singapore.

The Board has also appointed two new Non-Executive directors, Mr. Simon Mark Brickles (50) and Mr. James Gerald Leahy (53).

Mr. Brickles was Head of AIM at the London Stock Exchange Group Plc from 1994 until 2003, and CEO of PLUS Markets Group plc from 2004 until 2010. Educated at Cambridge University, City University and the Inns of Court School of Law, Mr. Brickles practised as a barrister for several years before moving to finance.

Mr. Leahy has spent the past 29 years with the mining industry as a specialist corporate broker, including mining finance, origination and equity sales. He has worked on a wide range of projects worldwide across industrial minerals, precious metals, copper, diamonds, coal, and uranium and iron ore. Mr. Leahy has substantial experience with international institutional fund managers, hedge funds and sector specialists. Over the years Mr. Leahy has been involved in many IPOs and a large number of primary and secondary placings, as well as developing junior companies through to production and beyond. Mr. Leahy is currently a director of Mineral Commodities Limited, Bacanora Minerals Limited, Forte Energy Limited and Geiger Counter Limited.

In accordance with the Company's articles of association, the new directors will hold office until the next AGM.

Commenting on the changes, Mr. Michael Farrow, Chairman of Bellzone, said: 

"On behalf of the Board, I would like to thank Glenn and Terry for their valuable contribution to the Company. Our major shareholder, China Sonangol, has clearly shown its interest in reshaping the Company by proposing the new Board members. I am pleased to welcome them to the Board and look forward both to working with them to realise the full potential of Bellzone's world-class asset at Kalia and to the Company benefiting from the financial and strategic strength of China Sonangol.

The Board now comprises four independent non-executive directors and one executive director. The Board continues discussions with China Sonangol regarding the future financing strategy of the Company including the status of its loan facility, under which US$1.5 million is drawn and repayable with interest on or before 14 December 2014".

Enquiries:

For more information, visit http://www.bellzone.com/

Save as set out below there is no further information required to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules for the appointments of Messrs Tung, Brickles and Leahy:

Mr. Tung:

Mr. Brickles:

Mr. Leahy:

Mr Leahy was a Non-Executive director of Continental Coal Limited until August 2013. The company entered into a 90 day standstill arrangement with its creditors in February 2014.