TIDMCGM

RNS Number : 5015W

China Goldmines PLC

19 November 2010

China Goldmines plc (the "Company")

Appointment of Director

China Goldmines is pleased to announce the appointment of Jean-Pierre Conrad as a Director. Mr Conrad has been appointed pending the implementation of an investing policy being put to shareholders at the forthcoming AGM at which point it is intended that he will become Chief Executive of the Company. Mr Conrad will seek election to the Board at the forthcoming annual general meeting.

Mr Conrad started his career in the banking industry in Switzerland before becoming responsible for the corporate finance activities of a European clinical testing group. In 1994 he joined Marc Rich which became Glencore International thereafter, responsible for corporate finance activities in the metals and minerals trading division in Switzerland.. He was appointed chief financial officer of Xstrata in 1997 which transformed from an investment vehicle to a diversified natural resource group during his period in office. Since leaving Xstrata at the end of 2001, he has pursued private ventures including in the natural resource sector and consulted for companies in turnaround or special situations.

Welcoming Mr Conrad to the Board, Robert Adair, Chairman, commented: "Jean-Pierre brings significant experience in resources, commodities and corporate finance to China Goldmines. We believe he has the experience and contacts which will enable the Company to source good opportunities for investment and growth in the natural resources sector. We look forward to the opportunity of working with Jean-Pierre and drawing on his experience as we endeavour to take the Company forward and create shareholder value. I am excited by the potential opportunity for growth that we now have."

The Board will set out an investing policy that will be aligned to shareholders' needs at a forthcoming Annual General Meeting to be held on 16 December 2010.

For further information, call:

 
 China Goldmines plc 
 Robert Adair (Chairman)        +44 7872 930 114 
 Marinko Vidovich (CFO)         +61 8 6216 5200 
 Jean-Pierre Conrad             +41 41 758 0013 
 
 Brewin Dolphin Ltd (Nomad) 
 Alex Dewar 
  (Nominated Adviser)           +44 131 529 0276 
 Threadneedle Communications 
  Laurence Read/Beth Harris     +44 (0)20 7653 9855

Information required to be disclosed pursuant to Rule 17 and Schedule 2 paragraph (g) of the AIM Rules.

Jean-Pierre Conrad is a beneficial holder of 3,478,350 ordinary shares in the Company, amounting to 7.18% of the entire share capital.

Jean-Pierre Conrad, 50, is a current director of the following companies and/or member/partner of the following partnerships:

Ambrian Resources AG

Financiere Mermod SA

In the past five years, Mr Conrad has been a director of the following companies and/or member/partner of the following partnerships: EIC Electricity SA, Private Equity Holding AG

Other than the information contained within this announcement, there is no further information required to be disclosed by the AIM Rules.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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