Troy Resources NL
ASX : TRY
TSX : TRY

Troy Resources NL

September 13, 2010 09:00 ET

Changes to the Troy Board

PERTH, WESTERN AUSTRALIA--(Marketwire - Sept. 13, 2010) -

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Troy Resources NL (TSX:TRY)(ASX:TRY) is pleased to announce the following changes to its Board.

Mr John Dow, currently Chairman of the Board, has indicated his intention to stand down as Chairman at the upcoming Annual General Meeting in November. Mr Dow has indicated he will continue as a Non Executive Director of the Company.

The Board has elected Mr David Russell Dix, currently a Non Executive Director of the Company, to become the new Chairman at the end of the 2010 AGM.

Mr Frederick Sheppard Grimwade has been nominated to the Board as a new Non Executive Director.

Mr Paul Benson, Troy's Chief Executive Officer, has been re-appointed to the Board and is the Managing Director.

Messrs Dix, Grimwade and Benson's election to the Board will be put to shareholders for confirmation at this year's AGM along with Mr Clement Robin Woodbine Parish who was appointed by the directors' immediately after last year's AGM.

These changes represent the completion of the Board restructure commenced in November 2009, adding considerable depth of experience as Troy makes the successful transition to a multinational resources Company.

The Board wishes to convey its sincerest gratitude to Mr Dow who played a key leadership role steering the Company as it expanded its international reach, acquired its major new growth project, Casposo in Argentina and completed the requisite project financing. It also welcomes Messrs Dix, Grimwade and Benson to their new roles. (Biographies below).

Commenting on these changes Mr Dow said: "It is immensely satisfying to have been Chairman of Troy as we set about positioning the Company for its next period of growth.

"Part of my role has been to oversee an evolution of the Board, and I am confident the changes we have announced today will continue to build the skills, depth and strength of the Board going forward.

"Troy is set to double its production in 2011 and, with a strong Board in place is well positioned to achieve its strategic ambition of becoming a profitable mid-tier producer."

Mr David Dix B.Ec; LLB; Grad Dip (Tax Law)

Mr Dix has been a Non Executive Director of Troy since February 2010. His background is in economics, law and taxation and he is a Barrister and Solicitor in the High Court of Australia. He has held various positions with Shell Australia Limited and worked for 16 years in Corporate Advisory at both Macquarie Bank Limited and UBS AG specialising in the mining industry, including Head of Resources for Asia Pacific and in London as Head of Mining. Mr Dix has been Executive Chairman of Australian oil company for 5 years, AED Oil Limited, Chairman of Quadrem Limited, an internationally based company which provides eBusiness solutions to the resource sector with a throughput exceeding $US 20 billion for 9 years, and a Non Executive Director of Aquarius Platinum for 6 years an ASX 100 company operating in Africa. He brings a wealth of experience gained in the international business and resources communities and international board rooms.

Mr Fred Grimwade B Comm, LLB (Hons), MBA, Grad Dip (Applied Finance)

Mr Grimwade works with a wide range of companies in a board and advisory capacity. He is a Non Executive Director of AWB Limited and Select Harvests Limited, Chairman of CPT Global Limited, and is a Principal and Executive Director of Fawkner Capital, a specialist corporate advisory and investment firm. He has held General Management positions at Colonial Agricultural Company, the Colonial Group, Western Mining Corporation and Goldman, Sachs & Co.

He has a broad range of experience in strategic management, mining, finance, corporate governance and law. He is a Fellow of the Institute of Chartered Secretaries of Australia, a Life Member of the Financial Services Institute of Australasia, and a Fellow of the Australian Institute of Company Directors. His other interests include active leadership positions within a number of leading Arts and Educational institutions.

Paul Benson BSc (Geology and Exploration Geophysics) BE (Mining), MSc (Management), Grad Dip (Applied Finance)

Mr Benson has been Chief Executive Officer of Troy since October 2007. He has over 25 years resource industry experience. Before joining Troy Mr Benson spent seven years with BHP Billiton, based in Chile from 2004, where his most recent role was Chief Development Officer for BHP Billiton Base Metals and a member of the BHP Billiton Base Metals Executive Committee. Before that Paul worked with Rio Tinto and RGC.

Mr Benson was instrumental in the acquisition and development of Troy's Casposo Project in Argentina, and has played a significant role in repositioning the Company for future growth. Under his management Troy has the largest resource base, and longest production profile in the Company's history.

ABN 33 006 243 750

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