Change to 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 it has accepted the resignation of Dr Richard Stewart as Chief Executive Officer and executive director with effect from 15 May 2014. The Board extends its sincere thanks to Richard for his valuable contribution to the growth and development of the Company and wishes him the best of success in his future endeavours. The Board is pleased to notify its shareholders that Mr Dale Richards will be appointed as Chief Executive Officer and executive director with effect from 16 May 2014. Dale has more than 15 years’ experience in the mining industry, having worked for various companies including Goldfields and Great Basin Gold. A Geology Honours graduate, Dale also holds a graduate diploma in mining engineering and has extensive experience across Sub Saharan Africa in project evaluation and due diligence studies. While having previously focused predominantly on gold, Dale also has experience in commodities such as phosphates, manganese, coal and base metals. Goliath Gold Independent Non-Executive Chairman, Mr Piet Nel, comments: “Dale’s extensive technical and corporate experience is an excellent match for Goliath Gold’s strategy to expand and diversify the Company’s resource portfolio. We welcome Dale and look forward to his involvement in the growth of Goliath Gold.” Johannesburg 16 May 2014 Sponsor Merchantec Capital Issued by Goliath Gold Mining Limited www.goliathgold.co.za Grant Stuart Vice President: Investor Relations Tel: +27 11 726 1047 grant.stuart@gold1.co.za About Goliath Gold Goliath Gold is a South African incorporated mining exploration company that has been listed on the Main Board of the JSE in the ‘Mining: General Mining’ sector since May 2011 under the issuer code GGM. Focused on identifying and exploring diversified resources across Southern Africa, the Company currently holds gold prospecting rights and a mining right over several contiguous areas in South Africa’s East Rand Basin in the Gauteng Province as well as prospecting rights for heavy mineral sands over an area within South Africa’s Western Cape Province. Opportunities in other mining-friendly African jurisdictions are also being considered. Goliath Gold is majority-owned by Gold One International Limited. 1 Date: 16/05/2014 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.