10 Aug 2010 18:01
Titanium Resources Group Ltd
Appointment of Executive Chairman
10 August 2010: Titanium Resources Group Ltd ("TRG" or "the Company") is pleased to announce the appointment of Mr. Wayne Malouf today as Executive Chairman of the Company with immediate effect.
Immediately prior to his appointment, Mr. Malouf was CEO, President and Chairman of Diamond Fields International, Ltd., a Toronto Stock Exchange traded company (TSX:DFI). He will continue to serve as non-executive Chairman of DFI.
Mr Malouf previously served as Executive Vice-Chairman of TRG from the time of the Company's IPO in August 2005 (the "IPO") until March 2008, and as a non-executive director of the Company from March 2008 until October 2008. During that time Mr. Malouf had a pivotal role in the successful restart of TRG's mining operations in Sierra Leone. Prior to the IPO, from 2002 to 2004, Mr. Malouf was the chief executive officer of Sierra Rutile Limited. In this capacity, he oversaw negotiations and implementation of financing arrangements with the European Commission and the Government of Sierra Leone.
Mr. Malouf earned his BA and JD from St. Mary's University Of San Antonio, Texas. He has an MA in social sciences with a focus on economics and international relations from the University of Chicago. After a judicial clerkship and brief term working in other firms, Mr. Malouf founded his own law firm in 1989.
Mr Malouf has extensive experience in international business, having successfully concluded many large transactions in mining and other industries. Most recently, he lead the team at DFI that concluded a joint venture arrangement between DFI and Manafa International of Saudi Arabia for the development of the Atlantis II Red Sea deposit, the largest known polymetallic marine deposit in the world.
John Sisay, Chief Executive, said:
"Wayne already has extensive knowledge of the Company in addition to his significant experience in the mining industry. I welcome Wayne back to the Board of TRG, and look forward to working with him again."
ENDS
For further information:
Titanium Resources Group
Wayne Malouf, Executive Chairman
John Sisay, Chief Executive
Tel: +44 (0) 20 7321 0000
Arbuthnot Securities
Nominated Advisor
Richard Johnson / Hugh Field
Tel: +44 (0) 20 7012 2000
Aura Financial
Michael Oke/Andy Mills
Tel: +44 (0) 20 7321 0000
Titanium Resources Group
Titanium Resources Group is a mining company with operations in the Republic of Sierra Leone. The Group is the country's largest private sector employer and produces rutile and ilmenite for use in industrial applications. The Group's operations have historically accounted for over 65 per cent of the exports of Sierra Leone.
Other Information
Edward Wayne Malouf (aged 52) holds no interest in TRG ordinary shares nor TRG options.
Mr Malouf will also retain his practice at the Law Office of Edward Wayne Malouf in Dallas, Texas. He has also held the following directorships and partnerships:
| Current directorships and partnerships | Diamond Fields International Limited Kimberley Overseas Diamond Fields (S.L.) Limited Diamond Fields (Liberia) Inc. Gem Fields Resources Limited Diamond Fields Marine Limited Diamond Fields Saudi Arabia Limited Diamond Fields Potash Saudi Arabia Limited Diamond Fields Salt Saudi Arabia Limited Red Sea Arabian Resources Limited Diamond Commodity Exchange Limited Rare Earth Resources Limited Rea Sea Holdings Group, Limited |
|
Former directorships and partnerships within the past five years |
Titanium Resources Group Ltd. Global Aluminium Limited Titanium Fields Resources Limited SRL Acquisition No. 1 Limited SRL Acquisition No. 3 Limited The Natural Rutile Company, Limited Bauxite Marketing Limited Sierra Rutile Holdings Limited Sierra Mineral Holdings I, Limited Sierra Rutile Limited Agricultural Resources Group MIL (Investments) SARL |
There are no additional disclosures to be made in relation to Mr Malouf pursuant to schedule 2(g) of the AIM Rules for Companies.
10 August 2010