St. James Gold Corp. announced that effective immediately, Mr. Jiang (Jay) Yu has been appointed as a director and Chairman of the board of the Company.

Mr. Yu has replaced Mr. George Drazenovic, who has resigned as a director but will continue to act in his current capacity as the Chief Executive Officer of the Company. The Company is also pleased to announce that effective immediately, Mr. Yu has been appointed as President of the Company. Mr. Yu is a serial entrepreneur with over 16 years of capital markets experience on Wall Street.

Mr. Yu's experience includes advising both private and public company executives and providing corporate advisory services with respect to equity financings, mergers and acquisitions, structured financings, initial public offerings and listings on recognized stock exchanges in North America. Mr. Yu will not be considered independent under applicable securities laws given his appointment as President, however, the Board remains comprised of a majority of independent directors. Mr. Yu will also serve on the audit committee in place of Mr. Drazenovic.

The audit committee remains comprised of three directors, two of which are independent.