KEFI Minerals announced that the Board of Directors is being restructured as from August 2016 as part of the Company's transition towards gold production. It is intended that Mr. Mark Wellesley-Wood, experienced African mining operator, will join the Board as Non-Executive Director. He will also serve as Chairman of the newly-created Technical Review Committee and Professor Ian Plimer will serve as Chairman of the newly-created Exploration Review Committee.

The existing roles of Deputy Chairman and Senior Independent Director will pass from Professor Plimer to Mr. Mark Wellesley-Wood as from January 2017. The Board of Directors will establish its two new committees to independently review technical and exploration matters during the Company's planned rapid expansion. This will allow Mr. Jeff Rayner to step down from the Board and to focus on a more free-ranging role to identify value adding opportunities for KEFI's next stage of development.

Mr. Rayner will also continue to advise and mentor the exploration team, which remains under Group Exploration Manager, Dr. Fabio Granitzio. Mr. John Leach has agreed to join the senior executive team as Finance Director as this function expands in scale and responsibility. These changes to the structure of the Board of Directors serve a number of important purposes as the Company begins its transition towards production.

The Board will comprise two executive directors (Executive Chairman Mr. Harry Anagnostaras-Adams and Finance Director Mr. John Leach) and three non-executive directors (His Excellency Mr. Norman Ling, Professor Ian Plimer and Mr. Mark Wellesley-Wood). The independent non-executive director is His Excellency Mr. Ling and Mr. Wellesley-Wood will also be an independent non-executive director upon his appointment. Executive management will continue to report to the Executive Chairman, notably the Chief Operating Officer and Managing Director of KEFI Minerals Ethiopia, Mr. Wayne Nicoletto, the Finance Director Mr. John Leach and Group Exploration Manager Dr. Fabio Granitzio.

KEFI has already installed strong development, community, finance and exploration teams under these executives and will next assemble the production operations team. The principal project contractors are market leaders Ausdrill/African Mining Services and Lycopodium.