30 Sep 2010 07:00
Titanium Resources Group Ltd
Appointment of Non-Executive Directors
30 September 2010: The Board of Titanium Resources Group Ltd ("TRG" or "the Company") is pleased to announce that it yesterday appointed Jan Castro and Michael Barton as Non-Executive Directors of the Company with immediate effect.
Jan Castro
Mr. Castro is the Managing Director of Pala Investments AG, the exclusive advisor to Pala Investments Holdings Limited, a US$ 1.0 billion investment company focused on the mining and natural resources sector. As a long-term partner, Pala leverages its extensive mining and natural resources sector experience to provide strategic advice and innovative financing solutions.
Prior to founding Pala in July 2006, Mr. Castro was Senior Vice President of Investments and Corporate Affairs for Mechel OAO, where his primary responsibilities covered mergers and acquisitions, non-core asset disposals and investor and public relations. Mechel is a NYSE-listed company and one of Russia's largest integrated mining and steel companies, focused on coal, iron ore, nickel and steel products, Mr. Castro was responsible for Mechel's IPO in 2004.
Mr. Castro currently serves on the Boards of Anatolia Minerals Development Ltd, Avoca Resources Limited, Churchill Mining PLC and several private companies.
Mr. Castro received his J.D. and B.A. from Columbia University.
Michael Barton
Mr. Barton is a finance professional who has worked in the natural resources sector for the duration of his career. He is currently Vice President at Pala Investments AG, the exclusive advisor to Pala Investments Holdings Limited, and prior to that was Vice President at Hatch Corporate Finance, a company specializing in providing corporate finance advisory services to the metals and mining industry. Mr. Barton currently serves on the boards of Dumas Contracting Ltd., Norcast Wear Solutions Limited and New Birmingham Inc.
Mr. Barton is a qualified chartered accountant and a member of the Securities and Investment Institute.
Wayne Malouf, Executive Chairman, said:
"On behalf of my fellow directors I am delighted to welcome Jan Castro and Mike Barton to the Board of TRG. Their significant experience in the natural resources sector strengthens the Company, and we look forward to working with them to realize the full potential of TRG's world-class asset."
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
Jan Alex Castro (aged 42) holds no direct beneficial interest in TRG ordinary shares nor TRG options. Mr Castro has also held the following directorships and partnerships:
| Current directorships and partnerships | Anatolia Minerals Development Ltd Avoca Resources Limited Churchill Mining PLC Dumas Contracting Ltd Eagle Holding Limited Gemcom Software International Inc Norcast Wear Solutions Limited
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| Former directorships and partnerships within the past five years | Alacer AG Coalcorp Mining Inc Crowflight Minerals Inc. Dioro Exploration Melior AG Norcast Castings Company Limited 630777 N.B. Inc 08332624 BC Inc
|
Michael Barton (aged 31) holds no direct beneficial interest in TRG ordinary shares nor TRG options. He has also held the following directorships and partnerships:
| Current directorships and partnerships | Dumas Contracting Ltd Tercon Investments Limited Norcast Wear Solutions Limited New Birmingham Inc 08332624 BC Inc 2147886 Ontario Limited
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| Former directorships and partnerships within the past five years | Crowflight Minerals Inc. Norcast Castings Company Limited |
As announced on 15 September 2010, Pala Investments Holdings Limited holds approximately 29.8 per cent. of the Company's issued share capital. Mr Castro and Mr Barton are the Managing Director and a Vice President respectively of Pala Investments AG, the exclusive investment adviser to Pala Investments Holdings Limited. Mr Castro is also an investor in Pala Investments Holdings Limited.
There are no additional disclosures to be made in relation to Messrs Castro and Barton pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies.
30 September 2010