Vatukoula Gold Mines Plc : Directorate Change

RNS Number : 3192F

22 May 2013

Vatukoula Gold Mines plc.

("Vatukoula", "VGM" or "the Company")

Directorate Change

Vatukoula Gold Mines Plc., the AIM listed gold producer focused on Fiji,today announces that Colin Orr-Ewing has tendered his resignation as Chairman and will be stepping down from the Board of the Company with immediate effect. The Board is also pleased to announce the appointment of Yingbin Ian He, an existing director of the Company, as Non-Executive Chairman, with immediate effect.

Mr. Orr-Ewing announced his intention to resign on 1 February 2013 following the appointment of a suitable replacement. He has served as Chairman since 24 August 2004.

Mr. Orr-Ewing said "It has been a privilege to serve as Chairman during such a momentous and exciting time for the Company. The business has transformed from a diamond exploration company in 2004 to owning and operating one of the highest grade gold mines in the world. The Company remains focused on financing and developing the Vatukoula Gold Mine to achieve its long term sustainable production targets and I believe that Yingbin Ian He is the right choice to oversee this growth."

Paying tribute to Colin Orr-Ewing, David Paxton, Chief Executive, said, "Colin has contributed enormously to the growth of VGM during the past 9 years and in particular was intrinsic to the acquisition and funding of the Vatukoula Gold Mine. During his time he has provided VGM with valuable guidance and strategic vision."

The Board believes that Yingbin Ian He is the right choice for the position of Chariman. Yingbin has over 30 years mining experience and will be a great addition to the experienced team, leading the growth of the Group. The Board is delighted to welcome Yingbin in his new role and look forward to working closely with him.

Yingbin said, "I look forward to taking on the role of Non-Executive Chairman, supporting David Paxton and the executive management team in pursuing the growth strategy for the Vatukoula Gold Mine. Colin Orr- Ewing has been a valuable Chairman of VGM and I look forward to contributing further in this role."

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