Announcements - 31 July 1998

Ian Egan Joins Kenmare Board

At the AGM of Kenmare Resources today, Chairman Charles Carvill announced that Ian Egan has been co-opted onto the Board of Directors.

Ian Egan is a leading figure in the titanium feedstock industry. He was a senior executive with Kronus Industries, a major titanium consumer. He later became Chief Executive of Mineral Deposits Ltd., which he built into a successful Mineral Sands mining company and the industry's technological leader.

After MDL was sold to BHP, Ian Egan rose to command BHP's Titanium division. He has an in-depth industry knowledge based on a lifetime of experience. He is widely respected with a detailed knowledge of industry participants. He has recently retired from BHP and Kenmare is delighted to announce that he has accepted an offer to join the Kenmare board as a non-executive director.

Kenmare starts gold exploration in Guinea

Kenmare has formed a Joint Venture covering gold exploration in Guinea. The Joint Venture covers 500 square kilometres in the Birimian Greenstone belt of West Africa. This belt hosts several large mines, including the Ashanti's Siguiri mine in Guinea and Ghana's prolific gold mines.

The JV area contains several zones of artisanal mining. Kenmare's target is wide shallow gold mineralisation, typical of mines in this greenstone belt. This type of deposit permits low cost mining, using open pit methods and standard processing technology.

This project has emerged from careful investigation of several West African projects over the last few years.