Southern Palladium Limited announced that Mr. Terence Goodlace has submitted his resignation as a Director and Chairman of the Board due to a proxy advisory services company's recommendation in respect of another company of which Mr. Goodlace is a director. Mr. Goodlace is currently the independent non-executive chairman of Kumba Iron Ore Limited, and an independent non-executive director at Gold Fields Limited and Andrada Mining Limited. The Board has resolved to appoint existing independent non-executive Director Mr. Michael Stirzaker as Interim Chairman.