ARIKA RESOURCES LIMITED — Board/Management Information 2012

Sep 25, 2012

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Suite 6, 245 Churchill Ave. Subiaco WA 6008 Phone: +61 8 9217 3300 | Fax: +61 8 9388 3006

ASX Code: PLD

26 September 2012

Appointment of Managing Director

The Board of Directors of PLD Corporation Ltd is pleased to announce the appointment of Matthew Gauci as Managing Director, effective immediately.

Mr Gauci has 15+ years experience in the mining industry and has successfully financed and managed private and public mining exploration companies in Australia, Africa and South America, raising more than $50m through investors in Asia, Europe and North America. Mr Gauci has managed the exploration, development and feasibility of a number of mining exploration projects in commodities such as gold, uranium, coal, iron ore and industrial minerals. He has also consulted to companies operating in the technology and life sciences industries.

Mr Gauci is a Member of the Australian Institute of Mining and Metallurgy (AusIMM) and the Australian Institute of Company Directors (AICD). Mr Gauci has a BSc. and an MBA from the University of Western Australia.

The key terms of Mr Gauci’s employment agreement include:

• 1. A salary of $125,000 including superannuation initially, whilst he is part time. Full time salary expectation is between $240,000-$260,000 per annum and the Company expects this to move to full-time in the short term.
• 1. Subject to shareholder approval, the granting of options over ordinary shares of the Company as follows:

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• a) 10,000,000 options at an exercise price of $0.02 expiring 31/12/15

• b) 10,000,000 options at an exercise price of $0.04 expiring 31/12/15

• c) 10,000,000 options at an exercise price of $0.06 expiring 31/12/15

• 1. The expiry date of the options is valid whilst Mr Gauci remains employed by the Company. Upon termination of Mr Gauci’s employment, these options must be exercised within 3 months of the date of termination.
• 1. Termination by either party with 3 months written notice.

Resignation of Director

Hugh Warner has agreed to retire from the board so Mr Gauci may be appointed. Hugh Warner remains a large shareholder of the Company and was instrumental in appointing Mr Gauci as Managing Director.