CGH.L Regulatory News (CGH)

Chaarat Gold Holdings Limited

("Chaarat" or "the Company")

Directorate change

Road Town, Tortola, British Virgin Islands (30 December 2014).

Chaarat (AIM:CGH) the exploration and development company with assets in the Kyrgyz Republic, announces that Mac DeGuire has resigned from the Board with effect from 31 December 2014. 

Mac, who was appointed to the Board as a non-executive director in May 2013, had subsequently taken responsibility for managing the team of consultants appointed in March 2014 to prepare the Definitive Feasibility Study ("DFS"). However, in September 2014 NERIN/NFC were appointed as the contractors to complete the DFS and the contracts with the previous team were discontinued. Mac has recently completed his contribution in respect of the assessment of the metallurgical options to process the Chaarat ore, the results of which will be included in the DFS. Hence he decided that the time was right to pursue other consultancy opportunities and has decided to resign from the Board of Chaarat.

Christopher Palmer-Tomkinson, Chairman stated: "My fellow directors and I thank Mac for his contribution to the DFS and join me in wishing him well for the future."

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About Chaarat Gold

Chaarat Gold is an exploration and development company operating in the Kyrgyz Republic with a large, high grade resource - the Chaarat Gold Project. The Company's key objective is to become a low cost gold producer generating significant production from the development of the Chaarat Gold Project. Chaarat is preparing a Definitive Feasibility Study and continuing its active community engagement programme to optimise the value of the Chaarat investment proposition.

Chaarat aims to create value for its shareholders, employees and communities from its high quality gold and mineral deposits in the Kyrgyz Republic by building relationships based on trust and operating to the best environmental, social and employment standards.