Archipelago Resources PLC Directorate Change (0897E)

TIDMAR.

RNS Number : 0897E

Archipelago Resources PLC

07 May 2013

7 May 2013

AIM: AR.

Archipelago Resources plc

("Archipelago" or "the Company")

Directorate Change

The Board announces that Marcus Engelbrecht will resign as Managing Director and Chief Executive Officer of the Company to pursue other opportunities. His appointment will cease on 30 May 2013.

Thereafter, Colin Sutherland will assume the position of Chief Executive Officer. Mr Sutherland is currently Chief Financial Officer and will also retain those responsibilities for an interim period. Mr Sutherland joined the Company in March 2012 and has previously acted in the position of Chief Executive Officer at Nayarit Gold Inc. and President at Capital Gold Corp.

Stephen Sulistyo, Archipelago Chairman, acknowledged Mr Engelbrecht's contribution to the Company and said:

"On behalf of the Board, I thank Marcus for his significant contribution to Archipelago. Marcus has driven our Toka Tindung Mine forward from development to production and his leadership has positioned the Company to continue our strategy of growth and returns to shareholders. I wish him well for his future career. I also look forward to building on Archipelago's achievements with Colin as our new CEO."

Marcus Engelbrecht said:

"The success I have enjoyed at Archipelago is due to the support provided to me by the employees, executive team, Board and shareholders. I wish them and the Company the best for the future."

The Company is also pleased to announce that Matthew Salthouse, currently Vice President - Investor Relations and Corporate Affairs, will assume broader executive responsibilities as President - Corporate Strategy. Mr Salthouse has been with the Company since October 2011 and brings a wealth of experience to this key role.

FURTHER INFORMATION

 
 
   Archipelago Resources 
   plc 
   Vice President 
   - Corporate Affairs             +65 6535                        [phone] 
   Matthew Salthouse                   3419                               8000 
---------------------------  --------------  -------------------  ------------ 
                                               Canaccord Genuity 
                                                         Limited 
                                                    Joint Broker 
                                                    Andrew Chubb 
                                                     Christopher 
                                                         Fincken 
---------------------------  --------------  -------------------  ------------ 
 Grant Thornton Corporate 
  Finance 
  NOMAD 
  Gerry Beaney 
  Philip Secrett                [phone] 
  David Hignell                        5100 
---------------------------  --------------  -------------------  ------------ 
                                                 Liberum Capital 
                                                         Limited 
   Buchanan                                         Joint Broker 
   Corporate Communication                     Michael Rawlinson 
   Bobby Morse                  [phone]          Christopher   [phone] 
   Gordon Poole                        5000             Kololian          2000 
---------------------------  --------------  -------------------  ------------ 
 

ABOUT ARCHIPELAGO

Archipelago is a producing mining company listed on the AIM market of the London Stock Exchange. Archipelago's vision is to grow into a respected and regionally dominant mid-cap gold producer, managing a portfolio of gold mines and delivering significant value and returns for our shareholders. Archipelago's principal activities are gold mining and exploration in Indonesia (as the 95% owner of the producing Toka Tindung Gold Mine in North Sulawesi, Indonesia). In 2013, Archipelago expects to produce between 140,000 and 155,000 Au Eq oz at a cash cost of between US$620 and US$680 per ounce (net of silver credits).

This information is provided by RNS

The company news service from the London Stock Exchange

END

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