New Directors Reflect Change of Focus For Moto Goldmines Limited (ASX:MOE, TSX:MGL) Says CEO Klaus Eckhof

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A policy advisor, an operations expert and a banker have been appointed to the Board of Moto Goldmines Limited (ASX:MOE, TSX:MGL) to reflect a move from exploration to project feasibility and development.

Moto Goldmines Limited (ASX:MOE, TSX:MGL), http://www.motogoldmines.com, has appointed three new Directors to reflect a move from exploration to project feasibility and development.    

Mr Walter Kansteiner, Mr David Hodgson and Dr Jeff O'Leary will replace Mr Reg Gillard and Mr Patrick Flint who have retired as directors. Mr. Flint will continue to serve as Chief Financial Officer and Company Secretary.

"The experience, expertise and commitment of the new appointments will help achieve our goal of advancing to the completion of a feasibility study as soon as possible," said Klaus Eckhof, Moto Goldmines Limited Managing Director.

Mr. Kansteiner has more than 20 years experience in African issues and recently served as the U.S. Assistant Secretary of State for African Affairs where he was responsible for U.S. foreign policy in Africa.

"Mr Kansteiner's considerable experience with business in Africa and his contacts within African governments, in particular within the Democratic Republic of Congo, will prove invaluable to our development," Mr Eckhof said.

Mr Hodgson worked for the AngloAmerican and DeBeers group of companies for more than 30 years, rising to Chief Operating Officer of AngloGold Ashanti and was responsible for 22 operations in 11 countries producing over 6 million ounces of gold per annum.

"Mr Hodgson is well known and highly respected throughout the gold mining industry. He has extensive operational experience and his ability to take advanced exploration projects into production will be very important for Moto," Mr Eckhof said.

Dr O'Leary spent 20 years with the HSBC group in project financing, equity and M&A transactions, including the first debt/equity swap in the mining industry used to finance start-up operations in South America.

"This appointment will provide project financing experience to complement the political, operational and leadership experience of other directors," Mr Eckhof said.

For Further information: Klaus Eckhof +61 (0)41-1148 209, Thomas Murrell, 8M Media & Communications +61 (0)417 - 984 996, http://www.motogoldmines.com

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Thomas Murrell