Board of Directors

Adam Fleming has a track record of creating shareholder value in the South African gold mining industry. He was appointed chairman of Harmony Gold in 1999 and remained in this position during the metamorphosis of the company from a single mine operation into the fifth-largest gold mining company in the world. He resigned as chairman of Harmony Gold in 2003 and initiated the formation of Wits Gold.

Taole Mokeona is the Head of Department of surgery at Kalafong Hospital and the University of Pretoria. From 2002 to 2005, he acted as the Chairman of Eyesizwe Coal (now part of Exxaro Resources Ltd) and has also had considerable experience as a director of a number of public and unlisted companies at different times. Prof Mokoena represents Continental Africa Gold Resources Consortium, a broad-based group of black shareholders with an 18% shareholding in Wits Gold. He is the chairperson of the Wits Gold remuneration and nomination committee and a member of the audit and risk management committee.

Humphrey Mathe has a PhD in geology from the University of Natal. He is currently the executive general manager: corporate services at Exxaro Resources Ltd, a JSE-listed resources company focused on coal, mineral sands, base metals and industrial minerals. Dr Mathe represents Tranter Kismet Investments, a group of South African black professionals, that currently owns a 10% shareholding in Wits Gold. He is a member of the Company's audit and risk management committee as well as the remuneration and nomination committee.

Mrs Wilson is a chartered accountant (SA) and was a partner at Ernst & Young where she was intimately involved with the South African mining industry for 24 years. During this time she was responsible for the audits of many major mining companies such as Avmin (now African Rainbow Minerals), Northam Platinum, Aquarius Platinum and certain of the AngloPlats operations. She was also involved in AngloGold's listing on the NYSE and in 2001 took over as lead engagement partner of their global audit until her retirement in June 2005. Mrs Wilson joined the Wits Gold board in September 2006 and is chairman of the Company's audit and risk committee as well as a member of the remuneration and nomination committee.

Marc Watchorn completed five years of post-graduate research on the Witwatersrand Basin and has a PhD in geology from the University of the Witwatersrand. His independent review of the Witwatersrand Basin formed the basis for Wits Gold's subsequent negotiations with the SA gold mining companies and resulted in the acquisition of the Company's 'old order' mineral rights. Prior to co-founding Wits Gold, he worked for Anglo American between 1981 and 2002, both in South Africa and internationally and has over 27 years' experience in the international gold sector. He is chairman of the Wits Gold executive committee.

Derek Urquhart qualified as a chartered accountant (SA) from the University of the Witwatersrand in 1980. After graduating, he established his own auditing practice. He was then instrumental in the formation and management of Tyco Truck Manufacturers, where he served as vice chairman of the board of directors until his resignation in 2001 to follow his private business interests. Mr Urquhart joined Wits Gold in March 2005 as Chief Financial Officer and is a member of the Company's executive committee.

Executive Management

Hethen Hira obtained his MSc (Economic Geology) from Rhodes University in 1997 whilst employed at the Council for Geoscience. He then joined West Rand Consolidated Mines which subsequently merged with Harmony Gold in 1999. Here, he was involved with managing the mineral rights of the exploration division. This was followed by a secondment to the New Business Division, where he evaluated growth and acquisition opportunities. He joined Wits Gold in January 2005 and is a member of the Company's executive committee.

Dirk Muntingh has an MSc in geology from the University of Johannesburg. He previously worked at the Council for Geoscience before joining the Gold Division of Anglo American Corporation in 1987. At Anglo American he worked at Elandsrand Gold Mine and two years later transferred to the new projects development unit, providing specialist input to both gold mining and exploration ventures. In 1997 he was transferred to the new mining business division, where he was appointed exploration manager for Ghana before joining AngloGold Ashanti in Australia. He joined Wits Gold in March 2006 and is a member of the Company's executive committee.