IONIC RARE EARTHS LIMITED — Board/Management Information 2015

Jan 21, 2015

22 January 2015

COUNTRY MANAGER APPOINTED IN NICARAGUA

Oro Verde Limited (ASX: OVL) (“Oro Verde” or “the Company”) is pleased to announce that it has further strengthened its in-country team in Nicaragua by appointing experienced exploration geologist – Mr David Turner – to the position of Country Manager-Nicaragua. He will commence his role on 26 January 2015 at the Company’s base in the capital, Managua.

Mr Turner is Australian-born and USA-raised but has spent more than 20 years working on mining and exploration projects within Central America, the past 7 years focused almost exclusively on exploration and mining in Nicaragua.

Oro Verde is excited to have the services of a professional of the calibre of Mr Turner, who has held roles ranging from Chief Mine Geologist and Exploration Manager through to General Manager and Exploration Director, with companies including BHP Minerals, Kinross Gold, Yamana Gold and more recently overseeing exploration at the operations of HEMCO in the highly productive Golden Triangle (Bonanza) district in northeast Nicaragua.

Mr Turner brings an intimate understanding of the Nicaraguan mining and exploration system and, along with his fluency in the Spanish language, will be a distinct advantage to the strategy and objectives of Oro Verde Limited.

In commenting on the appointment, CEO, Mr Trevor Woolfe stated, “ I am extremely pleased to welcome David to lead our in-country team in Nicaragua. He brings strong technical, cultural and management credentials crucial for the role and his knowledge of Nicaraguan mineral systems will enhance our ability to identify quality project opportunities.”

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For enquiries contact: Mr Trevor Woolfe Chief Executive Officer +61 411 127 837 +61 8 9481 2555

About Oro Verde Limited: Oro Verde Ltd is a mineral exploration company focused on identifying and developing significant gold projects in Central America, particularly Nicaragua. Oro Verde is currently undertaking Due Diligence to finalise an Option to Purchase Agreement on the Topacio Gold Project in Nicaragua that currently contains a NI43-101 compliant Inferred Mineral Resource of 340,000 ounces of gold.

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