News Column

Sovereign Gold Company Limited - Change of PMR control

August 22, 2014

ENP Newswire - 22 August 2014

Release date- 21082014 - On 18 August 2014, Precious Metal Resources Limited shareholders approved a special resolution to cancel 64,000,000 PMR shares held by Sovereign Gold Company Limited (ASX: SOC).

Upon cancelation of the shares pursuant to Section 256C(3) of the Corporations Act 2001 on 1 September 2014, PMR will have 23,000,000 fully ordinary shares on issue.

Transfer of Halls Peak Tenements

Shareholders also approved the transfer of the Halls Peak tenements EL 4474, EL 5339 and PMR's equity interest in Hudson SPC Pty Ltd (and consequently PMR's interest in EL 7679) to Sovereign for a consideration of the issue by Sover eign of 1 million Sovereign shares to PMR.

Board Changes

Frank Licciardello has been appointed to the Board of PMR.

He was nominated by Mayfair Capital Limited, PMR's largest shareholder.

Frank is a director of Rio Perdido Gold Limited and Elk Ortho biologics Limited. In addition, he has extensive experience in the finance sector, being both the Managing Director of AAS Capital Pty Ltd as well as executive director of Sanston Securi ties Australia Pty Ltd and several other entities.

Following the change of control of PMR the following directors resigned from the PMR Board:

John Dawkins AO;

John Foley;

Peter Kennewell;

Peter Meers and

Michael Leu.

Bruce Dennis and Jacob Rebek remain with Frank Licciardello


Henry Kinstlinger

Investor Relations

Tel: +61 2 9251 7177

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Source: ENP Newswire

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