Red 5 Limited announced that due to personal reasons, Mr. Steve Norregaard will no longer be Managing Director but will be retained by the company on a consultancy arrangement at $275,000 per annum, to assist the company in re-establishing production at Siana. The Board has resolved to appoint Non-Executive Director, Mr. Mark Williams, to the position of Managing Director of the company. Mr. Williams is a mining engineer and he has been actively involved in the outcome that the company has now achieved.

The company also announced the appointment of Mr. Ian Macpherson as a Non-Executive Director. Mr. Macpherson is a chartered accountant with over 30 years' experience in financial and corporate advisory services specializing in the mining and resources industries. He is a member of the Institute of Chartered Accountants in Australia and the Australian Institute of company Directors.