Directorate Change

Celtic Resources Holdings PLC
14 February 2007

                                        
                          Celtic Resources Holdings Plc
                          ("Celtic" or "the Company")
                                        
                  Celtic confirms appointments of new directors

Celtic is pleased to confirm the most recent additions to its board of directors 
as previously announced.



Kirill Lipa (35)

Kirill Lipa heads the Investment Banking Department in Aton Capital and
primarily specializes in M&A, private placements, public offerings and financial
strategy advisory. Kirill joined Aton Capital Group in February of 2002 as Head
of Mergers & Acquisitions, and assumed control of the Corporate Finance
department in March of 2003. Prior to moving to Aton Kirill was Deputy Chairman
of the Board of Olympiysky Bank, where he supervised all corporate finance
activities in 1998-2000. Kirill joined Olympiysky Bank in 1993 after earning a
Law Degree from Moscow State Law Academy. Mr. Lipa graduated magna cum laude
from the Moscow State Law Academy in 1994. Kirill provides an important link
between the Russian resource business and western markets.


Serdar Karliev (35)

Serdar Karliev is a director in the Investment Banking Department and head of
underwriting of Aton Capital in both Moscow and London. He is responsible for
providing mergers and acquisitions and equity capital markets solutions for
Russian and CIS clients. Prior to joining Aton in 2004 he was Vice-President of
Corporate Finance at Uralsib Bank and previously worked at Creditanstalt
Investment Bank and EBRD in London. Serdar graduated with a Diploma in Economics
from the Turkmen Institute of National Economy. He brings extensive M&A and fund
raising experience in natural resources sector to the Board.


Neither Mr Lipa nor Mr Karliev has any interest in the ordinary shares of the
Company. In regard to the aforementioned appointments there are no further
disclosures that need to be made under Schedule Two, paragraph (g) of the AIM
Rules.


For further information please contact:

Kevin Foo / Kate Dexter Smith         Leesa Peters / Laurence Read
Celtic Resources Holdings Plc         Conduit PR
Tel: + 44 (0)20 7921 8800             Tel: [phone] / Tel: [phone]
[e-mail]         [e-mail]

Frank Moxon / Simon Edwards
Evolution Securities Limited
Tel: [phone]







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