The board of directors of Siberian Mining Group Company Limited announced that Mr. JANG Sam Ki has tendered his resignation as an Executive Director, the Chairman of the Board and the chairman of the Nomination Committee of the company with effect from 31 December 2015; Mr. PARK Kun Ju has tendered his resignation as an Independent Non-executive Director, and a member of each of the Audit Committee and the Remuneration Committee of the company with effect from 31 December 2015; Mr. JO Sang Hee has been appointed as an Independent Non-executive Director, and a member of each of the Audit Committee and the Remuneration Committee of the company with effect from 31 December 2015; and Mr. HONG Sang Joon has been appointed as the Chairman of the Board and the chairman of the Nomination Committee of the company with effect from 31 December 2015. Mr. JO Sang Hee is currently the president of Artis Investment Co. Ltd.