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Appointment of New Chairman of the Board

January 30, 2019

Toro Gold (“Toro” or “the Company”), is pleased to announce the appointment of Mr Nick Clarke as Non-Executive Chairman of the Company.

Following Mr Clarke assuming this position on 28 January 2019, Mr Adonis Pouroulis has stepped down from the Board having served at Toro for almost 10 years.

Martin Horgan, Executive Director and Chief Executive Officer, commented: 

“I am delighted to welcome Nick to the Board. With more than 40 years’ experience in the mining sector, he brings a wealth of technical and corporate knowledge to the Company. I look forward to working closely with him and updating you on Toro Gold’s progress going forward.  

On behalf of the Board and all our employees, I would like to thank Adonis for helping steer the Company from its inception in 2009, as a gold exploration start up, through its evolution into a growing gold developer and producer. Through his invaluable industry experience, energy and enthusiasm aligned to dynamic leadership, Adonis has played a key role in our success so far and he leaves the Company in an excellent state with exciting plans for 2019 and beyond. We wish him all the very best in the future.”


Notes to Editors

Nick Clarke, Biography

Nick has over 40 years of mining experience, including 16 years spent within senior management positions in production and technical services in South Africa, Ghana and Saudi Arabia. Nick served as the managing director of Oriel Resources until its acquisition by OAO Mechel for $1.5 billion in 2008. In addition, Nick was Managing Director at Wardell Armstrong International, where he managed numerous multidisciplinary consulting projects in the resource sector. He is a graduate of Camborne School of Mines and a Chartered Engineer. In 2013, Nick was named CEO of the year at the Mining Journal outstanding achievements awards. He joined Central Asia Metals in 2009 as Chief Executive Officer prior to the company’s IPO in 2010, and assumed the role of Chairman in June 2016.



Cautionary Note Regarding Forward Looking Statements

This Press Release may contain statements which constitute “forward-looking”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, and its directors, or officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions or the negative thereof, as they relate to the Company, or its management, are intended to identify such forward-looking statements.

 Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors.

 Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.  These forward-looking statements speak only as at the date of this press release.  Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.



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