Harvest Mi (di) Regulatory News (HMI)

06 October 2015

Harvest Minerals Limited

("Harvest Minerals", "HMI" or the "Company")

Board Appointment

Harvest Minerals Limited is pleased to announce that Mr. Frank Moxon has joined the Board of the Company with immediate effect as a non-executive director.

Frank is Managing Director of Hoyt Moxon Ltd, a corporate finance consultancy. He has over 25 years' experience as a corporate financier to developing and growth companies in a wide range of industrial sectors, but has specialised for some 17 years in natural resources, and is or has been a director of a number of mining and oil & gas companies quoted in London, Australia and Canada.

Amongst other things he is a former head of corporate finance at Williams de Broë Plc and, until its August 2012 sale to PTT for £1.2 billion, was senior independent non-executive director at Cove Energy Plc. He has a BSc in Economics and is a Chartered Fellow of the Chartered Institute for Securities and Investment and a Fellow of the Institute of Materials, Minerals & Mining.

Brian McMaster, Executive Chairman of Harvest Minerals, commented:

"I am delighted to welcome Frank to the Board and the Board looks forward to working with him in the years ahead. Frank brings with him 25 years' experience in corporate finance and 17 years' experience working with natural resources companies. As we develop Harvest Minerals into an operational business, Frank's experiences and his capital markets expertise should prove invaluable."

Additional information on the Director Appointment

The following additional information is provided in accordance with AIM Rule 17 and Schedule Two, paragraph (g) of the AIM Rules for Companies:

Frank Hoyt Moxon (aged 49)

Current directorships/partnerships

Chartered Institute for Securities & Investment

Hoyt Moxon Ltd

Hoyt Moxon Capital Ltd

Imperial Minerals Plc

Imperial Minerals (UK) Limited

Jersey Oil & Gas Plc

Mapal Group plc

Swala Energy Ltd

Previous directorships/partnerships (last 5 years)

Cove Energy Plc

Diabetes UK Services Ltd

EastCoal, Inc.

Reach Volunteering

Silvermere Energy plc

The British Diabetic Association

Whetstone Minerals Ltd

Mr Moxon was a non-executive director of Silvermere Energy Plc which entered into a creditors' voluntary arrangement approved by creditors and shareholders on 16 August 2013 and completed on 20 December 2013. Total unsecured claims amounted to £1,043,532. Under the terms of the CVA creditors were issued with equity in the company (which was renamed Tern Plc and is quoted on AIM) in lieu of cash in order to settle all claims. 

Mr Moxon was a non-executive director of EastCoal Inc. from October 2012 until October 2013 which entered into a form of creditors' voluntary arrangement (under Canadian law) approved by creditors on 22 April 2014 and completed in August 2014. Total secured and unsecured claims amounted to C$3,026,122 in respect of which there was a deficiency of C$2,575,154. Under the terms of the arrangement creditors each received a cash payment of approximately 15 per cent. (pre-tax) of monies owed.

At the time of his appointment, Mr Moxon holds no shares, or options over shares, in the Company.

Other than the information set out above there is no other information required to be disclosed in connection with the appointment of Mr Moxon under AIM Rule 17 and Schedule Two, paragraph (g) of the AIM Rules for Companies.

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