Duke Capital Regulatory News (DUKE)

9 June 2014

Praetorian Resources Limited ("Praetorian" or the "Company")

Corporate update

Board changes and change of Nominated Adviser

The Company wishes to announce the following:

Board changes

Mark Hohnen and Richard Lockwood have stepped down from the Board. Mr. Lockwood will retain his position as an advisor to the Company as part of the Advisory and Execution Team alongside Charles Cannon-Brookes. The Chairman would like to thank both Mr Hohnen and Mr Lockwood, for their contribution to the Company since its incorporation in February 2012.

The Company is pleased to announce that Kaare Foy and Nathan Steinberg have been appointed to the Praetorian board with immediate effect.

Kaare Foy has a Bachelor of Economics degree and is also an Associate of the Australian Society of Accountants. Mr Foy specialises in company turnarounds with more than thirty years of experience serving on the boards of publicly listed companies in Australia, Canada and the United Kingdom. Mr. Foy was an executive director of Canadian based Great Panther Silver Limited, a silver producer, until the beginning of 2012 and is currently executive chairman of Cangold Limited, chairman of Viscount Mining Limited, a director of Golden Prospect Precious Metals Limited and Polar Star Mining Corporation.

Nathan Steinberg, FCA, FCCA, TEP is a partner in the London accountancy practice of Munslows LLP and has considerable public company experience. He previously served as the finance director of Pan African Resources plc and as the chairman of East West Resources plc. He is an experienced corporate and financial adviser and is a member of Council of the Institute of Chartered Accountants in England and Wales.

Information in respect of Kaare Foy and Nathan Steinberg as required by Schedule 2 paragraph (g) of the AIM Rules for Companies is set out at the end of this announcement.

Change of nominated adviser

The Company also wishes to announce the appointment of Grant Thornton UK LLP as the Company's nominated adviser ('NOMAD') with immediate effect.

Information required pursuant to Schedule 2 paragraph (g) of the AIM Rules for Companies

Nathan Anthony Steinberg, aged 60, is or has been a director of the following companies or a partner in the following partnerships in the last five years:

Kaare Glenne Foy, aged 69, is or has been a director of the following companies or a partner in the following partnerships in the last five years:

Contacts:

For further information, please contact: