Directorate Change

RNS Number : 0388I

Kibo Mining Plc

08 June 2011

 

KIBO MINING PLC

Appointment of Director

Dated: 8 June 2011

Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO, JSE: KBO) the mineral exploration and development company focused on gold and nickel projects in Tanzania, is pleased to announce the appointment of Wenzel Kerremans as Non-Executive Director of Kibo.

Commenting on the appointment, Noel O'Keeffe, CEO of the Company said:

"I welcome Wenzel's appointment to the Board and I know his extensive mining, legal and financial experience of working in Africa make him a valuable addition. I look forward to working with him as we advance exploration and development of our assets in Tanzania and evaluate other mineral project acquisition opportunities in Africa."

Christian Schaffalitzky, Kibo's Chairman added:

"Following our acquisition of Morogoro Gold Limited, the recently completed dual listing on the JSE and the placing in South Africa, the appointment of Wenzel marks another step in the corporate re-organisation of Kibo to place it at the centre of African mineral exploration. Wenzel's experience will strengthen our Board as we endeavour to unlock the value in our large mineral project portfolio in Tanzania."

The New Director

Details of the new Director are set out below:

Wenzel Kerremans aged 53, B.Proc, LLB, LLM (Banking & Stock Exchange law), Adv. Dip. International Tax, Non-executive Director.

Wenzel Kerremans is a lawyer by profession with over 25 years international legal experience in mining, banking, project finance and international tax, advising clients who have invested in exploration and mining projects in Africa. He has also originated and successfully sold Veremo Holdings Limited a billion ton titaneferous magnetite exploration project, for the production of iron and titanium slag. Wenzel is currently a principal and a director of a gold, graphite and coal exploration project in Africa.

The following are details of all current and former directorships in the previous five years held by Wenzel Kerremans:

Full Name: Wenzel Johan Konstant Kerremans

Current Directorships	Former Directorships
Barold Exploration(Proprietary) Limited	Changing Tides 341 (Proprietary) Limited
Straightprops 25 (Proprietary) Limited	Duikerskrans Resources (Proprietary) Limited
Magenta Consulting(Proprietary) Limited	Greenbird Recycling (Proprietary) Limited
Cool Ideas 180 (Proprietary) Limited	Paardekloof Resources (Proprietary) Limited
Sweet Sensation 100 (Proprietary) Limited	The African Business and Tax Institute (Proprietary) Limited
	Touch Base Trading 7 (Proprietary) Limited
	Rapid Dawn 265 (Proprietary) Limited
	Veremo Holdings Limited
	Veremo Industries (Proprietary) Limited
	Veremo Mining (Proprietary) Limited

Wenzel Kerremans has entered into a letter of appointment with the Company dated 7 June 2011. The Company has agreed a fee of £3,000 per quarter and has issued Wenzel options over1.5 million Kibo Shares exercisable at an option price of £0.0388 up to 31 March 2016.

There are no further details to be disclosed under Rule 17 schedule 2 paragraph (g) of the AIM Rules in relation to Wenzel Kerremans.

Company Profile

Kibo holds interests in two resource based gold projects, Itetemia and Luhala, with a combined JORC resource of 534,000 ounces gold in the Lake Victoria Goldfields of northern Tanzania. In this region, it also holds interest in an early stage mineral licence portfolio, the Lake Victoria project, which comprises large areas of gold prospective geology close to producing gold mines, advanced development projects and historic gold showings. Further south in Tanzania, Kibo's Morogoro project comprises a large mineral licence portfolio in the newly emerging gold areas of south and eastern Tanzania while its early stage nickel-PGM project, Haneti, is located just north of Tanzania's capital Dodoma in central Tanzania. More details of the Company's projects are shown on its website.

The Company is commencing its 2011 field exploration programmes and will provide results updates as they become available.

Enquiries:

Noel O'Keeffe	[phone]	Kibo Mining plc	Chief Executive Officer
John Simpson	020 7776 6550	Daniel Stewart & Company Plc	Nominated Adviser
Andrew Lianos	[phone]	River Group	Designated Adviser - JSE
Fiona Kinghorn	020 7448 9820	Alexander David Securities Limited	Joint Broker
Anthony Kluk	020 7628 1128	Loeb Aron & Company Limited	Joint Broker

Updates on the Company's activities are regularly posted on its website www.kibomining.com

 

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