ORA BANDA MINING LTD — Board/Management Information 2008

Feb 24, 2008

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25 February 2008

Manager Announcements Company Announcements Office ASX Limited Level 4 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

Monarch Promotes David Humann to Deputy Chairman

Attached is a Media Release in regard to the above.

Yours sincerely

Patrick McCole Company Secretary

MEDIA RELEASE

25 FEBRUARY 2008

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MONARCH PROMOTES DAVID HUMANN TO DEPUTY CHAIRMAN

Monarch Gold Mining Company (ASX / DIXF: MON) is pleased to announce that David Humann has accepted the position as Deputy Chairman of the Board.

Mr Humann has been a Non-Executive Director of the Company since March 2007 and brings with him extensive corporate experience, as a member of the boards of a number of public and private companies.

Monarch Chairman Michael Kiernan said Mr Humann would be an important part of the Company’s Board in the transition to full scale production.

“David’s corporate experience and track record will be an asset to the Company and shareholders,” Mr Kiernan said.

Mr Humann is Monarch’s inaugural Deputy Chairman, and has a wide range of financial management experience.

“David has a strong knowledge of Monarch’s projects and his extensive financial experience will be critical as the Company moves toward production at multiple projects.”

He is a Chartered Accountant and was previously Chairman and Managing Partner Price Waterhouse (Hong Kong and China), member of the World Board of Price Waterhouse and of the firm's World Executive Management Committee.

For further information, please contact:

Michael Kiernan Chairman - Monarch Gold Tel: 08 9481 6422

Warrick Hazeldine Purple Communications Tel: +61 (0)8 9485 1254 Mob: 0417 944 616

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Background

The Company has a resource base of more than five million ounces, three state-of-the-art gold treatment plants (Davyhurst, Minjar and Mt Magnet), and has dominant ground positions in the prolific gold mining region to the north-west of Kalgoorlie.

Monarch now has the largest Australian-controlled ground position in the Kalgoorlie region, and an expanded footprint in the Mount Magnet region.

Monarch remains firmly on track with its production targets, with mining commenced at the Davyhurst and Mt Ida projects.

Growth Strategy

Monarch’s growth strategy is focused on four potential production centres in Western Australia:

Davyhurst - gold resources of over 1.5 million ounces within a 2,000 sq km tenement package and 1.2mtpa gold processing facility (+1.2Moz historic production). First bullion was poured in August 2007.

Riverina Project - indicated and inferred gold resources totalling 200,000oz. A new resource estimate is currently being developed following extensive confirmatory and extentional drilling done by Monarch over the last six months.

Mt Ida - resources are stated as 143,000t at 24.0 g/t containing 110,650oz of gold within four areas - the Baldock, Whinnen, Meteor and Timoni deposits. Monarch commenced mining gold in July 2007.

Minjar - gold resources of over 400,000oz within a 1,722 sq km tenement package and 600,000tpa gold processing facility (+120,000oz historic production)

Bellevue - gold resources of 120,000oz associated with the historic Bellevue Gold Mine, one of WA’s premier gold operations (750,000oz historic production)

Mt Magnet – gold resource of 2.7 million ounces, a ground package of 330 tenements covering approximately 1,100 square kilometres and a 2.7mtpa capacity gold processing facility (+10 million ounces of current resources and past production).

Monarch’s strategy has been to capture opportunities for the consolidation of gold development assets which have not in the past realised their full potential, either due to a lack of capital or to limited exploration.

For further information visit: www.monarchgold.com.au

So far as it relates to ore and mineralisation, this report is based on information compiled by John Davis, who is a Member of the Australian Institute of Mining and Metallurgy and the Australian Institute of Geoscientist. Mr Davis has sufficient experience which is relevant to the style of the mineralisation and type of deposit under consideration and to the activity which he is undertaking, to quality as a Competent Persons as defined in the 2004 Edition of the Australasian Code for Reporting for Exploration Results, Minerals Resources and Ore Reserves. Mr Davis is a full time employee of the Company. This report accurately reflects the information complied by Mr Davis. Mr Davis has consented to the inclusion of this information in the form and context in which is appears in this report.

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