– UK, London – Savannah Resources plc (AIM: SAV) announces that Professor Mike Johnson, who has served as Non-Executive Chairman since February 2013, has retired from the Board effective immediately and Matthew King has been appointed as Non-Executive Chairman.

Matthew King has more than 27 years’ experience in the financial services industry. He has extensive dealings with regulators on a global basis and has proven experience with a number of effective boards, risk and audit committees and management committees. Additionally, Mr. King has relevant operational experience in Oman, which will prove extremely beneficial as the Company looks to advance its portfolio of copper projects in Oman, where drilling is currently underway. 

Savannah’s CEO, David Archer said, “The Company is fortunate to be able to appoint a successor with the experience and qualifications of Matthew King. Matthew has had a long and distinguished career in international banking.  His particular competencies are in the arenas of corporate governance, operational risk and compliance.

“This appointment is a result of Mike having successfully steered the Company through its recent transitional phase, where it exited its West African gold projects and acquired interests in projects in its two new core geographies of Oman and Mozambique, in copper and heavy minerals respectively. Under Mike’s stewardship the Company has strengthened its balance sheet, established a key management group and secured a valuable portfolio of new projects. Mike had always made it clear that once this transitional phase had been successfully implemented he would look to stand down and in that regard the Company wishes to thank Mike very much for his very significant contribution and to also wish him well in all his future endeavours.”

About Matthew King (age 57)

Mr. King recently retired as Group General Manager Global Operational Risk and Internal Control at HSBC Bank plc, a role in which he became a risk expert with a wealth of experience in financial services businesses in Asia, Australia, North America as well as Europe.

He was formerly a director of Operational Risk Data Exchange Association (“ORX”), a not for profit association dedicated to advancing the management and measurement of operational risks in banks. 

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