Toro Board And Management Team

Toro Board And Management Team

Adonis Pouroulis Non Executive Chairman

Adonis is a mining entrepreneur whose expertise lies in the discovery and exploration of natural resources. Having worked in the sector for over 18 years he has a wide network of contacts across the African continent. Adonis founded Petra Diamonds and listed it on London's AIM market in 1997, this then being the first diamond company to list on AIM with a market capitalization of just £10 million. Petra is now a pan-African diamond group, employing over 4,000 personnel and has a production profile of over 1 million carats a year.

More recently he has been instrumental in raising funds to help finance early stage exploration and mining projects in Africa, helping to structure and bring these companies to market when the time is right. Adonis has been influential in the listing of a number of other companies onto AIM - most recently Chariot Oil & Gas Ltd. Chariot holds licenses offshore Namibia and was floated in May 2008, raising funds of US$90m from both UK and North American institutions. Chariot recently signed a Farm-Out agreement with Petrobras of Brazil.

Martin Horgan Chief Executive Officer & Executive Director

A mining engineer by training, Martin has worked across numerous areas of the mining sector including as an engineer for Gold Fields in South Africa, for Steffen Robertson & Kirsten in the UK and RSA offices, at Barclays Capital and as Executive Director of BDI Mining Corp. At Barclays his responsibilities included the origination and execution of mining project finance and advisory business across the African and the Middle East regions, global responsibility for the technical appraisal and review of all investments, environmental and social compliance of the investments in line with international standards and the financial modelling of all transactions. As Executive Director of AIM listed BDI Mining, Martin was part of the team which negotiated the sale of the Company to Gem Diamonds in 2007 realising a record share price for the Group.

Phillip Jeffrey (Jeff) GardExecutive Director

After graduating with degrees in Chemical, Mining and Minerals engineering, Jeff started his career in mining in 1966 with the National Coal Board in the U.K. He then joined Cominco in Canada with the position of Process Superintendent in lead/zinc, gold and coal.

In 1974 he joined the Fluor Corporation as Senior Process Engineer in their mining and metals group. Over the following 20 years he held various positions around the globe including Process Manager, Project Manager and Project Director, becoming the Managing Director for Southern Africa and later became President of their mining and metals group. In this position he was responsible for the safe and timely execution of projects worth approximately $2 billion in value annually. This included the $1.9 billion Batu Hijau project (copper/gold) in Indonesia and the $1.8 billion Muskeg River project (oil sands) in northern Canada.

Jeff has held a number of directorships in the resource sector following his retirement from Fluor, helping to establish mining operations across multiple commodities and jurisdictions.

William Lovering Non Executive Director

William is currently a Managing Partner at Heritage Private Office in Geneva, Switzerland where he also resides. Prior to this role he served as Head of International Portfolio Management for the Al Rajhi Holdings Group of Companies. He has significant experience in the resource sector and over twenty years investing experience in London, the Middle East and Geneva.

Toro Management Team

Martin Horgan Chief Executive Officer, Toro Gold Ltd

Please see biography, left

Gary Townsend Group Chief Financial Officer, Toro Gold Ltd

Gary is a Fellow of the Institute of Chartered Accountants and a Chartered Taxation Adviser. For the majority of the last 13 years has worked for major gold mining companies in Africa in senior financial roles. From 1996 to 2004, he was Group Financial Controller of Ashanti Goldfields where he was in charge of structuring the finance department in order to accommodate several acquisitions including that of SAMAX Gold. Within this role Gary was also integral in setting up and running the internal budgetary and reporting systems dealing with the Group's seven mining operations across Africa, mitigating tax liabilities and helping to refinance the Group prior to the Company being sold to Anglo Gold in June 2004.

Gary has also held positions as Chief Financial Officer and Company Secretary at Guinor Gold (which was subsequently sold to Crew Gold for $350m following a raising of $130m in equity and project finance to fund mine expansion) and more recently Horizonte Minerals Plc where he dealt with all financial aspects required for the operations in London, Peru and Brazil.

John Howard Bills Group Exploration Manager, Toro Gold Ltd

An exploration geologist by training, Howard has spent the last 35 years working predominately in gold exploration across the African continent undertaking work for BP Minerals, SRK Consulting and SAMAX. Over the years, Howard has amassed an in-depth knowledge of a broad range of exploration techniques and the application of these to both gold and diamond exploration in the tropics. As well as being responsible for a variety of discoveries across Africa, Howard was also involved in numerous other pre- and feasibility studies on projects in North America, Central Asia and Russia, preparing 43.101 documents and independent reports for stock exchange listings and private placements.

Most recently he acted for 6 years as "Gerant" of the local operating company that discovered and developed the 3Moz Passandro gold project in the Central African Republic building up a team of over 240 staff.

Dr Jonathan Forster Chief Executive Officer, Bambuk Minerals Ltd

Jon is a geologist by training who has worked in the mining and exploration sector for 28 years and has a successful corporate and technical track record in the discovery of gold in Africa. For the last 9 years he has been involved with the establishment and executive management of a publicly listed junior gold exploration company, with attributable discoveries of over 4 million ounces of gold in west and central Africa. He has a proven ability to create shareholder value through the identification, evaluation, acquisition and exploration of gold projects and provides strong hands-on exploration management expertise.

Craig Banfield Chief Financial Officer & Secretary, Bambuk Minerals

Craig is a Fellow of the Institute of Chartered Accountants in England &Wales and has been active as a Chief Financial Officer for both listed and private companies. For the majority of the last 15 years Craig has acted as CFO for gold exploration companies operating across Africa - namely the SAMAX Gold Inc. (which was sold to Ashanti Goldfields in 1999 for ~C$240m) prior to performing the same role for AXMIN Inc. between 2001 and 2008.