Cambridge Mineral Resources plc

Cambridge Mineral Resources plc

December 14, 2006 02:00 ET

Cambridge Mineral Resources plc: Appointment of Chairman

LONDON, UNITED KINGDOM--(CCNMatthews - Dec. 14, 2006) - Cambridge Mineral Resources plc (AIM:CMR) ("CMR" or "the Company"), the mining exploration and production company, announces that Neil MacLachlan has been appointed Non-executive Chairman, with immediate effect.

Neil MacLachlan, aged 64, has over 28 years investment banking experience, with HSBC Investment Banking in Hong Kong, Australia and London, and then Svenska Handelsbanken, London. In 1993 he was appointed Executive Vice President, Asia, with Barrick Gold Corporation, with responsibility for identifying and negotiating acquisitions in Asia.

In 1997 he founded Markham Associates, a corporate consultancy service focused on smaller companies in the resource sector, and at the same time became associated with Ambrian Capital Plc (formerly Golden Prospect Plc) where he was a non-executive director until 2004, when he joined the Board of Ambrian Partners Limited, a wholly owned subsidiary of Ambrian Capital, as executive director. He is a non-executive director of a number of listed companies in the natural resources sector.

The directorships and partnerships of Mr MacLachlan required to be disclosed under the AIM Rules are as follows:-

Current Previous directorships/partnerships (in
directorships/partnerships last 5 years)
Ambrian Partners Limited Ambrian Capital Plc (formerly Golden
Prospect Plc) (AIM quoted)
Samson Oil & Gas Listed (ASX Titan Resources (ASX listed)
Eurogold Limited (AIM quoted Sapphire Mining Limited (now Central Asia
& ASX listed) Gold Ltd) (ASX listed)
Geographe Resources Limited (now Reliance
Mining Limited) (ASX listed)
Kestrel Energy, Inc (Nasdaq listed)

There are no further matters to be disclosed under paragraph (g) of Schedule Two of the AIM Rules.

Colin Andrew, Managing Director of Cambridge Minerals, commented:

"The Board is very pleased that Neil has agreed to become Chairman. With his background in investment banking and mining finance combined with his experience of working with both large and small mining companies, we feel that he will bring significant experience and expertise to CMR as we continue to grow our operations in South America and to develop our joint venture relationships in Europe.

"We remain very satisfied with the progress we are making towards becoming a substantial gold producer. We are currently ahead of schedule and expect to be in a position to make further positive announcements shortly".

Editors' Note

Cambridge Mineral Resources plc is an AIM-quoted mining and exploration company. Its principal focus is the exploration for and production of gold and base metals in the following key target areas:

- South America: Colombia and Peru

- Europe: Spain, Bulgaria and Serbia (Bulgaria and Serbia under joint ventures)

The Company has a strong portfolio of mineral projects at varying stages of commercialisation, supporting its strategy of providing shareholders with attractive upside opportunities.

Contact Information

    Colin Andrew
    Managing Director
    +44 (0) 20 7663 5618
    Louis Castro
    Director Corporate Finance
    +44 (0) 20 7190 7000
    Michael Padley / Michael Spriggs
    +44 (0) 20 7367 8888