GOLIATH GOLD MINING LIMITED - CHANGE TO THE BOARD OF DIRECTORS CHANGES IN FUNCTION AND RETIREMENT

CHANGE TO THE BOARD OF DIRECTORS – CHANGES IN FUNCTION AND RETIREMENT

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 – CHANGES IN FUNCTION AND RETIREMENT


Shareholders are referred to the announcement released on SENS on 29 November 2012 wherein
shareholders were advised that Dr Richard Stewart had been appointed as acting Chief Executive Officer
and executive director of the Company with effect from 1 January 2013, and are hereby further notified that
in compliance with paragraph 3.59 of the Listings Requirements of JSE Limited (“JSE”), the board of
directors of Goliath Gold ("the Board") has appointed Dr Stewart in the role of Chief Executive Officer of
Goliath Gold, for an initial period of 12 months, with effect from 1 January 2013.

Furthermore, in compliance with paragraph 3.59 of the JSE Listings Requirements, the Board hereby notifies
shareholders that Mr Mark Wheatley will retire as Chairman and non-executive director of the Board at the
annual general meeting (“AGM”) of Goliath Gold to be held on 30 April 2013. Mr Piet Nel, an independent
non-executive director of the Company, will be appointed as the Independent non-executive Chairman of the
Board with effect from the close of the aforementioned AGM.

The Board thanks Mr Wheatley for his contribution to the Company during his tenure as Chairman, and
welcomes Dr Stewart and Mr Nel to their new positions.

Following the AGM, the Board will be constituted as follows:

-   Mr Piet Nel: Independent non-executive Chairman
-   Mr Keith Rayner: Independent non-executive Director
-   Mr Jerry Vilakazi: Independent non-executive Director
-   Dr Richard Stewart: Chief Executive Officer
-   Mr Christopher Chadwick: Chief Financial Officer


Johannesburg
24 January 2013

Sponsor
Merchantec Capital

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