The Board of Oar Resources Limited announced the appointment of Mr. Justin Richard as Managing Director of the Company, effective immediately. Mr. Richard is a mining executive with more than 15 years' experience in senior international and resource sector roles. He was most recently Managing Director of Alara Resources Ltd. where he led that company through a series of successful milestones.

OAR announced the appointment of Mr. Anthony Greenaway, OAR's GM of Exploration, to the Board of the Company as a Non-Executive Director, in the role as Technical Director. This appointment will strengthen the level of technical expertise at board level and broaden the capability of OAR's existing management team. OAR also advised that Mr. Christopher Gale will cease to be Executive Chairman and will become Non-Executive Chairman on the successful completion of Mr. Richards probationary period.

Mr. Joseph van den Elsen is retiring as Non-Executive Director.