Board Changes and Financing Update

    RNS Number : 5021B
  Van Dieman Mines plc
  18 August 2008
   

    
    18 August 2008
    VAN DIEMAN MINES PLC (the "Company")

    Board and Management Changes and Financing Update

    Changes in Board, Management and Corporate Operations

    The Board has appointed Ron Goodman, previously Executive Director Operations, as CEO and Managing Director. Ron replaces Ken Frey who
will retain a role in the development of the Company's sapphire joint venture. The Board thanks Ken for his commitment and energy during the
challenging times over the last six months. The Board has taken this decision in recognition of the imperative for the Company to focus on
the technical and operational challenges in bringing its Scotia and Endurance projects into production.

    Ken Frey has decided not to stand for re-election at the upcoming Annual General Meeting ("AGM") of the Company and will step down from
the Board at that time.

    Additionally, the Board has decided to close the Company's Sydney office and to transfer the bulk of the administration and financial
control functions to Tasmania. The move, which will be completed over the next few months, will provide savings on overhead costs and allow
for a more cohesive corporate structure for the day to day running of the Company.

    Financing from Galena Completed

    Further to the announcement of 30 June 2008, the Company announces that it has drawn down the full amount of the initial loan facility
of £3M from the Galena Special Situations Master Fund Ltd. Drawdown was completed after the Company received the requisite Australian
Foreign Investment Review Board approval for the transaction. The Company has now completed the refinancing of its previous debt facility
and repaid certain other creditors. 

    The Board intends to provide an operational update prior to the AGM to be held on 29 August 2008.

    Enquiries

 VAN DIEMAN MINES plc 
 Mike Etheridge, Chairman             Tel: [phone]
 Ron Goodman, CEO and Managing        Tel: [phone]
 Director
 GRANT THORNTON CORPORATE FINANCE
 Gerry Beaney / Fiona Owen            Tel: [phone]
 FOX DAVIES CAPITAL LIMITED
 Richard Hail, Corporate Finance      Tel: [phone]


This information is provided by RNS
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