Chaarat Gold appoints Gordon Wylie and Dusty Nicol to its Board as Non-Executive Directors

– BVI, Tortola – Chaarat Gold Holdings Ltd (AIM:CGH), the AIM quoted company developing the Chaarat Gold Deposit in the Kyrgyz Republic, announces the appointment with immediate effect of two non-executive directors to the Board of Chaarat, Gordon Wylie and Dorian Nicol who both bring more than 40 years mining experience and knowledge to the Board and will assist the management team, led by CEO Robert Benbow, in the development of the Chaarat Gold Project, initially via the first stage Tulkubash Heap Leach Project.

During his seven years as a member of AngloGold Ashanti’s senior management team, Gordon was responsible for their global exploration programme, part of which included moving into new prospective, higher risk geographical regions. Gordon has been non-executive Chairman of Lydian International since its inception where he has overcome the challenges involved in moving an exploration company on to becoming a development company with a clear path towards production. Lydian is constructing a mine at the Amulsar open pit, heap leach gold project in Armenia. He is also familiar with Endeavour Financial who are assisting with Chaarat’s financing.

Dorian (known as Dusty) has a broad industry experience at every stage of the mining process – from exploration to construction and development and management of mines. He has built multi-disciplinary teams in a variety of cultures. With his hands on approach, Dusty will be instrumental in working together with Bob and the management team in realising the potential of Chaarat’s plans for the Chaarat Deposit, both in terms of the construction program for the heap leach operation as well as further exploration of the Tulkubash oxides. His experience with refractory ore will be invaluable to Chaarat when the oxide resource is in production and the Company seeks to expand further and develop the very substantial Kyzyltash refractory ore resource.

Martin Andersson, Chairman, comments: “One of my responsibilities as Chairman is to ensure the highest standards of corporate governance and an effective and value-creating Board process. My priority, at this important time for the Company, has been to add independent non-executive directors with significant mining experience and track record to the Board.

We are fortunate to have secured two such distinguished industry veterans for our team and I am delighted to welcome them to our Board. They will help Bob and his team maintain and increase the momentum we have established towards production.”

About Chaarat Gold

Chaarat Gold is an exploration and development company operating in the Kyrgyz Republic with a large, high grade resource – the Chaarat Gold Project. The Company’s key objective is to become a low-cost gold producer.

Chaarat aims to create value for its shareholders, employees and communities in the Kyrgyz Republic by building relationships based on trust and operating to the best environmental, social and employment standards.

For more information : http://www.chaarat.com

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