Archipelago Resources PLC : Directorate Change

7 May 2013

AIM: AR.

Archipelago Resources plc

("Archipelago" or "the Company")

Directorate Change

The Board announces that Marcus Engelbrecht will resign as Managing Director and Chief Executive Officer of the Company to pursue other opportunities.  His appointment will cease on 30 May 2013. 

Thereafter, Colin Sutherland will assume the position of Chief Executive Officer.  Mr Sutherland is currently Chief Financial Officer and will also retain those responsibilities for an interim period.  Mr Sutherland joined the Company in March 2012 and has previously acted in the position of Chief Executive Officer at Nayarit Gold Inc. and President at Capital Gold Corp. 

Stephen Sulistyo, Archipelago Chairman, acknowledged Mr Engelbrecht's contribution to the Company and said:

"On behalf of the Board, I thank Marcus for his significant contribution to Archipelago.  Marcus has driven our Toka Tindung Mine forward from development to production and his leadership has positioned the Company to continue our strategy of growth and returns to shareholders.  I wish him well for his future career.  I also look forward to building on Archipelago's achievements with Colin as our new CEO."   

Marcus Engelbrecht said:

"The success I have enjoyed at Archipelago is due to the support provided to me by the employees, executive team, Board and shareholders. I wish them and the Company the best for the future."

The Company is also pleased to announce that Matthew Salthouse, currently Vice President - Investor Relations and Corporate Affairs, will assume broader executive responsibilities as President - Corporate Strategy.  Mr Salthouse has been with the Company since October 2011 and brings a wealth of experience to this key role. 

FURTHER INFORMATION

ABOUT ARCHIPELAGO

Archipelago is a producing mining company listed on the AIM market of the London Stock Exchange.  Archipelago's vision is to grow into a respected and regionally dominant mid-cap gold producer, managing a portfolio of gold mines and delivering significant value and returns for our shareholders.  Archipelago's principal activities are gold mining and exploration in Indonesia (as the 95% owner of the producing Toka Tindung Gold Mine in North Sulawesi, Indonesia).  In 2013, Archipelago expects to produce between 140,000 and 155,000 Au Eq oz at a cash cost of between US$620 and US$680 per ounce (net of silver credits).