Lachlan Star Limited announced non brokered private placement to Hamilton Place Associates LLC of 16,403,486 fully paid ordinary shares at an issue price of $0.0697 per ordinary share for proceeds of $1.14 million. Upon completion of this placement Mr. Peter Babin, a Manager of Hamilton, will be appointed as non-executive chairman, effectively immediately. Mr. Babin was one of the vendors of the CMD Gold Mine to Lachlan Star in December 2010 and was a director of the Company from that date until November 2013.

Upon the appointment of Mr. Babin, Mr. Scott Perry will stand down from the board of Lachlan Star to focus exclusively on his role as CEO of AuRico Gold.