Gindalbie Metals : Appointment of CEO

Microsoft Word - Appointment of CEO

SECURITIES EXCHANGE ANNOUNCEMENT

10 May 2016

APPOINTMENT OF CEO

Gindalbie Metals Ltd (ASX: GBG) ('Gindalbie') advises that experienced mineral economist and resources professional, Mr Chris Stevens, currently Acting CEO, has been appointed as the CEO of Gindalbie.

Mr Stevens will transition from Acting CEO to CEO on the 23rd May 2016. Gindalbie's Chairman, Mr Keith Jones, said he was delighted at the appointment of Mr Stevens to the Gindalbie CEO role.

SUMMARY OF MATERIAL TERMS OF EXECUTIVE SERVICE AGREEMENT BETWEEN GINDALBIE METALS LIMITED AND CHRIS STEVENS

The material terms of the Executive Services Agreement between Chris Stevens and Gindalbie Metals Limited (the Company) for the role of Chief Executive Officer (the Agreement) are as follows:

Item Details

Remuneration A$ 280,000 per annum gross inclusive of superannuation contributions

Bonus structure A one-off cash bonus of $100,000 payable subject to completion and settlement of a material transaction or transactions in line with board approved strategy with a transaction value of greater than 15% of Gindalbie's market capitalisation during the 30 days prior to the announcement of the transaction.

Long term incentive To be awarded entirely at the board's discretion in line with existing long term incentive plans.

Contract term 2 years commencing May 23rd, 2016

Termination 3 months by either party or payment in lieu of notice.

ENDS On behalf of:

Ms Rebecca Moylan Company Secretary Telephone: +61 8 9480 8700 www.gindalbie.com.au

Level 9, London House 216 St Georges Tce Perth Western Australia, 6000

PO Box 7200, Cloisters Square, PERTH Western Australia 6850 W: www.gindalbie.com.au

T: +61-8 9480 8700

F: +61-8 9480 8799

E: gbg@gindalbie.com.au

ASX: GBG

Issued Shares: 1.49B