KINGSROSE MINING LIMITED - Board/Management Information 2017

ASX Announcement 7 August 2017

Appointment of Chief Executive Officer

Kingsrose Mining Limited (ASX: KRM) is pleased to announce the appointment of Paul Jago as Chief Executive Officer.

Mr Jago is a mining engineer with more than 20 years’ operational and management experience across a diverse range of operations and commodities both in Australia and overseas.

He has held senior management positions with a number of companies including MACA Ltd, Golden Stallion Resources and over ten years in various roles at Kalgoorlie Consolidated Gold Mines. Mr Jago is currently a nonexecutive Director of Golden Eagle Mining, a public unlisted company.

Mr Jago’s previous roles have included the management of large open pit operations to smaller operations from pre-feasibility through to production.

Kingsrose Executive Chairman John Morris said Mr Jago’s skills and experience in the areas of open pit mine planning, management and ability to implement strategies to improve company performance were highly relevant to the Company as it continued to restructure its operations at the Way Linggo Project in Indonesia.

“Paul’s operational knowledge and management experience will be invaluable as we continue to push ahead with the open cut at the Way Linggo Mine and implement the necessary changes required to improve performance at the Talang Santo Mine,” Mr Morris said.

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

-ENDS-

For more information please contact:

Investor Enquiries: John Morris, Chairman +61 8 9381 5588 [email protected]

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APPENDIX A | KEY TERMS OF MR PAUL JAGO’S EMPLOYMENT CONTRACT

Total FixedRemuneration	A Salary of AUD$286,000 per annum inclusive of statutory superannuation.A one off lump sum ‘sign-on’ bonus of A$10,000.
Term	Effective 1 August 2017, Mr Jago will be employed on an initial 3 month term (Initial Term),after which, Mr Jago’s employment can be extended for another 33 months for a total termof three years. (Extended Term).
Short Term Incentive	While the Board retains discretion to offer a short term incentive bonus in the case ofexceptional performance in circumstances not presently anticipated, there is no plannedshort term incentive scheme.
Long Term Incentive	The Company has in place an Options and Share Rights Plan (OSRP) to provide long termincentives to senior executives. In respect to participation in the Company’s OSRP,participation level, performance hurdles and vesting periods are subject to the discretion ofthe Board of Directors and subject to shareholder approval under the ASX Listing Rules or theCorporations Act (where required).The quantum of share performance rights awarded to the Managing Director/Chief Executiveofficer equivalent generally does not exceed 50% of their total fixed remuneration.Mr Jago will be eligible to participate in the OSRP following successful completion of theInitial Term.
Termination	During the Initial Term, either party may terminate the employment agreement withoutpenalty upon one party giving to the other party written notice of not less than one (1) monthor such lesser period as may be mutually agreed by the Parties, except in the case of summarydismissal.During the Extended Term, either party may termination the employment agreementwithout penalty upon one party giving to the other party written notice of not less than three(3) months’ notice in writing or such lesser period as may be mutually agreed by the Parties,except in the case of summary dismissal.Termination benefits to the extent permitted under the Corporations Act are included in thecontract in the event of certain termination events.

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AI assistant

KINGSROSE MINING LIMITED Board/Management Information 2017

65202_rns_2017-08-06_1221e486-3ee0-4d58-98a8-72c34c976f1d.pdf

Appointment of Chief Executive Officer

-ENDS-

For more information please contact:

APPENDIX A | KEY TERMS OF MR PAUL JAGO’S EMPLOYMENT CONTRACT

AI assistant

KINGSROSE MINING LIMITED — Board/Management Information 2017

65202_rns_2017-08-06_1221e486-3ee0-4d58-98a8-72c34c976f1d.pdf

Appointment of Chief Executive Officer

-ENDS-

For more information please contact:

APPENDIX A | KEY TERMS OF MR PAUL JAGO’S EMPLOYMENT CONTRACT

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KINGSROSE MINING LIMITED Board/Management Information 2017