Mineral Deposits Limited
TSX : MDM
ASX : MDL

Mineral Deposits Limited

May 21, 2009 18:30 ET

Mineral Deposits Limited: Appointment of Non-Executive Director

MELBOURNE, AUSTRALIA--(Marketwire - May 21, 2009) - Mineral Deposits Limited (TSX:MDM)(ASX:MDL)

The board is pleased to announce the appointment of Mr James Murray Grant as a non-executive director of the company. He has wide experience in Africa as detailed below. Murray is a Partner of MDL's largest shareholder Actis Capital LLP which owns approximately 6% of the company.

Murray has been part of the Africa team since he joined Actis in 2001. He is currently responsible for managing an investment team in London as well as overseeing Actis's operations in East Africa and developing the Actis footprint in the Maghreb region. He chairs the African screening committee and continues to be involved across Africa through a range of investments and associations, covering telecoms, financial services, mining and oil and gas.

Murray joined Actis after a 13-year investment career with 3i Group plc. There he worked on a diverse range of investments in over 300 businesses across a range of industry sectors. Prior to working at 3i, Murray spent four years in the construction industry working on large infrastructure projects in Africa, Australia and Papua New Guinea. These projects were broadly split between the mining and power sectors.

Murray was a director of both Rashidi El Mizan (Egypt) and Flamingo Holdings (Kenya) prior to their successful exits in 2007 and Starcomms Nigeria Ltd in 2008. He remains on the boards of Sinai Marble (Egypt) and Candax (Canada). He previously served on the boards of Capital Alliance (Nigeria) and Persianas Holdings (Nigeria).

Murray holds an MBA from London Business School and a BSc in Engineering from Edinburgh University.

This appointment reinforces the profile of the company and the desire to broaden its non-executive representation to four of eight board members. Mr Grant resides in Kent in the United Kingdom and brings to the company an impressive background in the investment industry.

ABN 19 064 377 420

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