Azumah Resources Limited noted that IGIC Pte Ltd. (an affiliate of Ibaera Capital Fund GP as manager for and on behalf of private equity group, Ibaera Capital Fund GP Limited) (Ibaera) now has a relevant interest in more than 40% of Azumah's shares. The Directors of Azumah unanimously recommend shareholders ACCEPT Ibaera's increased off-market cash takeover offer of 3.3 cents per Azumah share (Increased Offer) in the absence of any superior proposal. Each of the Azumah Directors who hold or control Azumah shares have now accepted the Increased Offer in relation to those shares. As Ibaera has now acquired a relevant interest in more than 40% of Azumah's shares, Azumah has agreed to appoint Dr Jon Hronksy OAM and Mr. Peter Stuntz to the Azumah Board, effective immediately. Dr Hronksy is the General Partner Global Targeting and Research for Ibaera and is an Ibaera nominee whereas Mr. Stuntz is being appointed as an additional independent director to the Azumah Board. Each of Dr Hronsky and Mr. Stuntz are being appointed to fill casual vacancies and will hold office up until the Company's upcoming AGM, where Azumah proposes to table additional resolutions at its AGM to enable Azumah shareholders to formally consider the re-election of Dr Hronsky and Mr. Stuntz as Directors of Azumah. Further to the appointments of Dr Hronsky and Mr. Stuntz, existing non-executive director Mr. Linton Putland has agreed not to seek re-election as a director and will retire from the Board immediately prior to the upcoming AGM.