Mr. Andrew James has resigned as managing director of Phosphate Australia Ltd., effective October 1, 2012. Mr. James has also resigned from the company's board. Mr. Jim Richards will take over the running of the company as executive chairman, effective September 30, 2012.

Mr. Mark Thompson has been appointed as a non executive director, effective October 1, 2012. Mr. Richards has spent more than 22 years experience as a geologist and is also an experienced company director. He was formerly the Chief Executive Officer of United Minerals Corporation NL (UMC).

Mr. Thompson has more than 20 years industry experience in gold exploration and mining management, working extensively on major resource projects throughout Australia, Africa and South America. He is a former Manager and Director of several private geological consultancies, founded and served on the Board of ASX-listed Catalyst Metals Ltd. and is a member of the Australian Institute of Geoscientists and the Society of Economic Geologists. Mr. Thompson is currently the Managing Director of ASX listed Talga Gold Limited.