Ausgold announced that current Non-Executive Director, Geoff Jones, has been appointed as the Company's Non-Executive Chairman, effective immediately. The Company's current Non-Executive Chairman, Richard Lockwood will remain on the Board as a Non-Executive Director. Geoff Jones is an engineer with over 30 years experience in project development, construction and mineral processing globally.

Geoff has extensive experience in the gold sector, initially as a project development engineer with Resolute Limited and various engineering groups. More recently Geoff held the position of Managing Director of GR Engineering Limited for more than 9 years until his recent retirement. GR Engineering Limited has grown to be one of Australia's leading engineering groups particularly in the gold sector.

In addition, Non-Executive Director, Neil Fearis has retired from the Board after 7 years of service. Ausgold intends to appoint of a new non-executive director with operational and project delivery experience. Ausgold is currently undergoing an executive search process to identify the new appointment.

These changes are being made to ensure the Company's Board has the appropriate operational expertise in place to successfully take the KGP through development and into production.