GENESIS RESOURCES LIMITED — Board/Management Information 2015

Sep 27, 2015

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GENESIS RESOURCES LIMITED

(ASX: GES)

ASX and Media Release

28 September 2015

Changes to Board and Management Structure

Following a strategic review of the organisational structure of Genesis Resources Limited ( Genesis or the Company ), the Company is pleased to advise of a number of changes to Genesis’ Board and management structure.

Change of Chairman

Mr Eddie Pang will be stepping down from his role as Chairman of the Board, effective Monday 28 September 2015, in order to assume an executive role as Managing Director of Genesis.

Mr Pang performed the role of Non-Executive Chairman of Genesis up until 1 December 2013, when he transitioned into the role of Executive Chairman. As a result of Mr Pang’s increased responsibilities within Genesis in an executive capacity, Mr Pang is not considered by the Board to be an independent Director. In line with the Board’s commitment to corporate governance and complying, where practicable, with the ASX Corporate Governance Principles and Recommendations, Mr Pang has stepped down from his role as Chairman (but remains as Director), and the Board has appointed current Non-Executive Director Mr Kinpo Yu as Chairman. The Board has assessed Mr Yu’s independence as a Director, and considers that whilst Mr Yu is a substantial shareholder of Genesis, he is an independent Director as his shareholding does not interfere with his capacity to bring an independent judgement to bear on issues before the Board and to act in the best interests of Genesis and its shareholders.

Appointment of Chief Executive Officer

The Company further advises that Mr Zilong Dai, who was appointed Non-Executive Director of Genesis on 26 June 2015, will assume the role of Executive Director and Chief Executive Officer, effective 28 September 2015. Mr Dai has extensive executive management and accounting expertise gained through working in Australia and China, and experience in managing M&A transactions in the resources sector.

Mr Eddie Pang, now Managing Director of the Company, said “These appointments will create a strong management team focussed to drive the Company’s resource assets to the next level, in particular at the Plavica Project. Our strengthened team will endeavour to increase the value of the assets of Genesis for the benefit of all shareholders and investors. The change in Chairman also reflects Genesis’ commitment to complying with best corporate governance practices, and the Board is confident that the implementation of these changes will be in the best interests of all shareholders.”

The Company will announce the terms and conditions of the new executive services agreements with each of Mr Pang and Mr Dai in relation to their newly appointed positions as Managing Director and Chief Executive Officer respectively once the agreements are entered into.

-Ends-

For further information, please contact: Sophie Karzis Company Secretary T: +61 3 9286 7501 E: sk@ccounsel.com.au

GENESIS RESOURCES LIMITED ACN 114 787 469 Level 1, 61 Spring Street, Melbourne, Victoria 3000, Australia T + 61 3 9286 7500 | F + 61 3 9662 1472 | www.genesisresourcesltd.com.au