IONIC RARE EARTHS LIMITED — Board/Management Information 2015

Feb 24, 2015

25 February 2015

MANAGING DIRECTOR APPOINTED

Oro Verde Limited (ASX: OVL) (“ Oro Verde ” or “ the Company ”) is pleased to advise that Mr Trevor Woolfe has been appointed Managing Director.

Mr Woolfe has held the position of Chief Executive Officer since last year’s AGM and is an experienced and highly regarded industry professional. He is a geologist with over 20 years’ experience in the exploration and mining industry. Previously he was the Managing Director of ASX listed Anchor Resources Ltd until Chinese interests acquired a majority interest in 2011 and more recently has been consulting on projects in Australia, Nicaragua, Chile, Zambia and New Zealand. Mr Woolfe has held various senior roles with companies including CRA, Metana Minerals, Great Central Mines, Newcrest and Placer Dome. Mr Woolfe is fluent in Spanish, the official language of Nicaragua, which will be a significant advantage for the Company in local dealings.

In commenting on the appointment, Chairman, Dr Wolf Martinick said:

“ I am very pleased that Trevor has accepted the Managing Director’s role. His experience in Latin America will be extremely valuable to the Company.

“Over the past three months he has established a first class team in Nicaragua and led the due diligence process on the Topacio Gold Project.”

Mr Woolfe’s appointment is with immediate effect and key terms of his remuneration arrangements remain unchanged from those disclosed on 20 November 2014.

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For enquiries contact:

Trevor Woolfe Brett Dickson Managing Director Company Secretary +61 411 127 837 +61 8 9481 2555

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