The directors of Minotaur Exploration Limited announced the retirement of Mr. Richard Bonython, non-executive director of the Company. Mr. Bonython was a founding director of the Minotaur group and has served on the group's various boards continuously since 1995. He retires on the group's 20th anniversary of listing on the Australian Stock Exchange, that being an appropriate point at which to bring his service to a close.

He remains, through his private company.