Fresnillo Regulatory News (FRES)

Fresnillo plc

21 Upper Brook Street

London W1K 7PY

United Kingdom

www.fresnilloplc.com

22 February 2018

Fresnillo plc - Board Changes

Fresnillo plc (the "Company") announces that the Nominations Committee has recommended to the board of directors of the Company ("the Board"), and the Board has agreed, that Ms Georgina Kessel be proposed for election as an independent non-executive director of the Company at the 2018 annual general meeting, which is due to be held on 30 May 2018 (the "AGM"), with her appointment to take effect from the conclusion of the AGM.

Ms Kessel worked in the Mexican government where she served as Secretary of State in the Ministry of Energy from 2006 to 2011. She also chaired the Governing Board of the Federal Electricity Commission and has been president and a member of the Board Directors of Petróleos Mexicanos (PEMEX). She is currently an independent director of Scotiabank, Iderdrola and is a partner in Spectron.

Mr Guy Wilson has advised the Board that he will stand down from the Board at the AGM, having served as an independent non-executive director for nine years.

The Board has, therefore, also approved a recommendation from the Nominations Committee that Mr Alberto Tiburcio be appointed as Chairman of the Audit Committee and Mr Charles Jacobs be appointed as a member to the Audit Committee both with effect from the date of the AGM. In addition, the Board has approved a recommendation from the Nominations Committee that Dame Judith Macgregor be appointed as an additional member of the Health, Safety, Environment and Community Relations Committee with effect from the date of the AGM.

The Board has further approved the appointment of Mr Alejandro Baillères as Deputy Chairman of the Company with immediate effect.

Fresnillo plc Chairman Alberto Baillères said: "I should like to take this opportunity to thank Mr Wilson for his outstanding contribution to the Board and the Audit Committee during the past nine years. His significant efforts in overseeing the sound financial and internal controls environment of the Company since the IPO will be greatly missed. I am delighted that Ms Kessel has agreed to join the Board. Her significant political experience and knowledge of the energy sector will greatly support the Company and the Board. I look forward to welcoming her to the Board following the 2018 AGM".

For further information, please visit our website www.fresnilloplc.com or contact:

About Fresnillo plc

Fresnillo plc is the world's largest primary silver producer and Mexico's largest gold producer, listed on the London and Mexican Stock Exchanges under the symbol FRES.

Fresnillo plc has seven operating mines, all of them in Mexico - Fresnillo, Saucito, Ciénega (including the San Ramón satellite mine), Herradura, Soledad-Dipolos1, Noche Buena and San Julián (phase I and II), two development projects - the Pyrites Plant, and second line of DLP at Herradura, and four advanced exploration projects - Orisyvo, Juanicipio, Las Casas Rosario & Cluster Cebollitas and Centauro Deep, as well as a number of other long term exploration prospects. In total, Fresnillo plc has mining concessions covering approximately 1.8 million hectares in Mexico.

Fresnillo plc has a strong and long tradition of mining, a proven track record of mine development, reserve replacement, and production costs in the lowest quartile of the cost curve for silver.

Fresnillo plc's goal is to maintain the Group's position as the world's largest primary silver company, producing 65 million ounces of silver per year by 2018, having already surpassed the gold target of 750,000 ounces.

Forward Looking Statements

Information contained in this announcement may include 'forward-looking statements'. All statements other than statements of historical facts included herein, including, without limitation, those regarding the Fresnillo Group's intentions, beliefs or current expectations concerning, amongst other things, the Fresnillo Group's results of operations, financial position, liquidity, prospects, growth, strategies and the silver and gold industries are forward-looking statements. Such forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Forward-looking statements are not guarantees of future performance and the actual results of the Fresnillo Group's operations, financial position and liquidity, and the development of the markets and the industry in which the Fresnillo Group operates, may differ materially from those described in, or suggested by, the forward-looking statements contained in this document. In addition, even if the results of operations, financial position and liquidity, and the development of the markets and the industry in which the Fresnillo Group operates are consistent with the forward-looking statements contained in this document, those results or developments may not be indicative of results or developments in subsequent periods. A number of factors could cause results and developments to differ materially from those expressed or implied by the forward-looking statements including, without limitation, general economic and business conditions, industry trends, competition, commodity prices, changes in regulation, currency fluctuations (including the US dollar and Mexican Peso exchanges rates), the Fresnillo Group's ability to recover its reserves or develop new reserves, including its ability to convert its resources into reserves and its mineral potential into resources or reserves, changes in its business strategy and political and economic uncertainty.

1 Operations at Soledad-Dipolos are currently suspended.

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