RNS Number : 6277W
Oxus Gold PLC
13 June 2008
Oxus Gold Plc
APPOINTMENT OF NON- EXECUTIVE DIRECTOR
LONDON: 13 June 2008
Oxus Gold Plc ('Oxus'or the 'Company') (OXS.L), the Uzbekistan gold and silver miner, announces that Richard Barry Shead has joined the board of the Company as a non-executive director.
Mr Shead, 56, was previously employed by Oxus as the Company's Executive Director of Corporate Development from June 2003 to October 2004.
Speaking today, CEO Richard Wilkins said 'In his new role, Richard Shead will add corporate strategic thinking and development strength to the board as Oxus moves towards increasing production through the development of its sulphide mine in Uzbekistan'.
Mr Shead has many years' experience in the mining industry in South Africa. He was CEO of East Daggafontein Mines Limited until 2002 and played an instrumental role in the merging of that company with Mvelaphanda Resources Limited in 2002. Subsequently he served with Oxus in the above mentioned capacity until October 2004, and was a director and CEO of Shanta Gold Limited until March 2008. Details of Mr Shead's other current directorships are set out in the appendix.
Mr Shead has been granted 500,000 options to purchase ordinary shares in the Company at an exercise price of 25p, one third on first gold production from the Asaukak heap leach mine at Amantaytau Goldfields (AGF), and two thirds on first gold production from the underground sulphide mine at AGF.
There are no further disclosures that need to be made under Schedule 2, paragraph (g) of the AIM Rules for Companies.
For further information, please contact:
Oxus Gold plc
Jonathan Kipps Tel: +44 (0)20 7907 2000
Canaccord Adams Limited
Mike Jones Tel: +44 (0)20 7050 6500
Jane Stacey/ Ed Portman Tel: +44 (0)20 7429 6606
+ 44(0)792 292 3306
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