GOLIATH GOLD MINING LIMITED - Change to the board of directors - Resignation and appointment

Change to the board of directors - Resignation and appointment

Goliath Gold Mining Limited
Incorporated in the Republic of South Africa
(Registration number 1933/004523/06)
Share code: GGM ISIN: ZAE000154753
(“Goliath Gold” or “the Company”)


CHANGE TO THE BOARD OF DIRECTORS - RESIGNATION AND APPOINTMENT




In compliance with paragraph 3.59 of the Listings Requirements of JSE Limited, the board of directors of
Goliath Gold ("the Board") hereby notifies shareholders that Mr Neal Froneman will resign as Chief Executive
Officer and executive director with effect from 31 December 2012. The Board would like to extend their
sincere thanks to Mr Froneman for his valuable contribution in creating and developing Goliath Gold, and
wishes him the best of success in his future endeavours.

The Board is pleased to announce that Dr Richard Stewart will be appointed as acting Chief Executive
Officer and executive director with effect from 1 January 2013. Dr Stewart has over 15 years' experience in
South Africa's geological and mining industries and is a professional natural scientist registered with the
South African Council for Natural Scientific Professions (SACNASP). Dr Stewart has a doctorate in geology,
which he obtained from the University of the Witwatersrand, and previously worked as an investment
consultant for African Global Capital SA. Dr Stewart has also held management positions at Uranium One,
Shango Solutions and CSIR Mining Technology.

Dr Stewart currently serves as Executive Vice President: Technical Services for Gold One International
Limited and played an instrumental role in the creation of Goliath Gold. Dr Stewart has also served on the
Goliath Gold Executive Committee since its inception and will continue to drive the strategy of further
exploring and developing the Company’s exciting pipeline of East Rand-based projects.

Johannesburg
29 November 2012

Sponsor
Merchantec Capital

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