KINGSROSE MINING LIMITED — Board/Management Information 2016

Nov 15, 2016

ASX Announcement 16 November 2016

Appointment of Chief Executive Officer

Kingsrose Mining Limited (ASX: KRM) is pleased to announce the appointment of experienced mining executive Michael Moore as Chief Executive Officer, effective immediately.

Mr Moore is a mining engineer with more than 15 years operational and management experience across a diverse range of commodities in Australia, West Africa and Europe.

He has held senior and executive management positions with a number of companies including Carnegie Minerals PLC and more recently with Montezuma Minng Company (ASX: MZM), where he was CEO. Mr Moore is currently a non-executive Director of Variscan Mines (ASX: VAR).

Kingsrose Executive Chairman John Morris said Mr Moore’s skills and experience in the areas of mine planning and operations were highly relevant to the Company as it continued to devise and implement new approaches to its Talang Santo mine in Indonesia.

“Michael’s operational knowledge and management experience will be invaluable as we push ahead with the next stage of our strategy to unlock the value of Talang Santo,” Mr Morris said.

“The review being undertaken by independent consultants Mining Plus shows that Talang Santo’s performance could be improved significantly by implementing alternative mining methods.

“This process is underway and Michael’s knowledge will help us make these changes as smoothly and effectively as possible.”

In accordance with Listing Rule 3.16.4, the key terms of Mr Moore’s Employment Contract are attached as Appendix A.

-ENDS-

For more information please contact:

Investor Enquiries: Media Enquiries: John Morris, Chairman Paul Armstrong, Read Corporate +61 8 9486 1149 +61 8 9388 1474 info@kingsrosemining.com.au paul@readcorporate.com.au

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----- Start of picture text ----- Suite 9, Level 2, 12-14 Thelma Street, West Perth WA 6005 | P (08) 9486 1149 | F (08) 9486 1151 Suite 9, Level 2, 12-14 Thelma Street, West Perth WA 6005 | P (08) 9486 1149 | F (08) 9486 1151info@kingsrosemining.com.au | www.kingsrosemining.com.au | ASX: KRM info@kingsrosemining.com.au | www.kingsrosemining.com.au | ASX: KRMABN: 49 112 389 910 ABN: 49 112 389 910----- End of picture text -----

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APPENDIX A

KEY TERMS OF MR MICHEAL MOORE’S EMPLOYMENT CONTRACT

	PENDIX A	PENDIX A
	TERMS OF MR MICHEAL MOORE’S EMPLOYME		T CONTRACT
				ry superannuation.
TR	otal Fixed	A Salary of AUD$350,000	per annum exclusive of statuto	ry superannuation.
	emuneration
T		Effective 16 November 2	016 Mr Moore will be employed	on an initial 6 month term
	erm	(Initial Term), after whic	h, Mr Moore’s employment can	be extended for a further
		two and a half years (Ext	ended Term).
S		While the Board retains	discretion to offer a short term i	ncentive bonus in the case
	hort Term Incentive	of exceptional performa	nce in circumstances not presen	tly anticipated, there is no
		planned short term incen	tive scheme.
L		Th C h i l	Oti d Sh Riht	l (OSRP) t id l
		e ompany as n pacterm incentives to senio	an pons an are gsr executives In respect to parti	an o prove ongcipation in the Company’s
		OSRP, participation level,	.performance hurdles and vesti	ng periods is subject to the
		discretion of the Remun	eration Committee and subjec	t to shareholder approval
	ong Term Incentive	under the ASX Listing Rul	es or the Corporations Act (wh	ere required).
		Mr Moore will be eligibleof the Initial Term.	to participate in the OSRP follo	wing successful completion
T		Either party may termina	te the employment agreement	without penalty upon one
		party giving to the otherlesser eriod as ma b	party written notice of not lessmutuall areed b the Part	han one (1) month or suchies excet in the case of
		p ysummary dismissal.	y g y	, p
	ermination	Termination benefits to	the extent permitted under	the Corporations Act are
		included in the contract i	n the event of certain terminati	on events.

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----- Start of picture text ----- Suite 9, Level 2, 12-14 Thelma Street, West Perth WA 6005 | P (08) 9486 1149 | F (08) 9486 1151 Suite 9, Level 2, 12-14 Thelma Street, West Perth WA 6005 | P (08) 9486 1149 | F (08) 9486 1151info@kingsrosemining.com.au | www.kingsrosemining.com.au | ASX: KRM info@kingsrosemining.com.au | www.kingsrosemining.com.au | ASX: KRMABN: 49 112 389 910 ABN: 49 112 389 910----- End of picture text -----