Kastan Mining Announces Board Appointment

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Kastan Mining Limited Appoints George Gaines as a Director and Executive Vice President-Corporate Strategy

Kastan announced today that George C. Gaines, Jr. has been appointed to serve on its Board of Directors and to assume the role of Executive Vice President-Corporate Strategy. Mr. Gaines brings a wealth of experience to Kastan having served for six years as a senior Partner at Berchwood Partners LLC, a global private equity placement firm with clients headquartered in the U.S., Europe, Asia, the Middle East and Africa. Prior to BerchWood, Mr. Gaines was Managing Director and Global Head of Distribution of the Private Equity Fund Group in Citigroup's Investment Bank and Managing Director for institutional advisory/management firms, Heitman Capital Management Corporation and JMB Institutional Realty Corporation. He began his career as an attorney specializing in U.S. securities, tax and corporate law. Mr. Gaines received a BA in Economics from the University of California, Berkeley and a JD at the University of Virginia Law School.

Yun Ho Cho, Kastan Chairman, commented, "We are delighted to welcome George to the Company. His expertise and counsel will be invaluable to Kastan as the Company begins its mining programs in Kilosa and Singida. His experience and global perspective will help take us to the next step as we continue build Kastan into a principled, world-class mining company."

Kastan's CEO, John Tate, noted, "When we first began our discussions with George, he was intrigued by mining opportunities in Tanzania. He has continually impressed us by asking the right questions and giving us sound advice and counsel. He has visited our operations in Tanzania to meet our team members and to better understand first hand the potential of our mining concessions. George's thoughtful approach, his entrepreneurial zeal and his focus on execution will help drive our operations. I join Mr. Cho in welcoming George to the Company."

Salim Zagar, Kastan Director, continued, "I met George during his visit to Tanzania. He understands the opportunity in Tanzania and is committed to working with us to build Kastan into a premier mining company. I look forward to working with him."

Mr. Gaines commented, "From my first conversation with John Tate and his team, I have been impressed with their articulate, inspired and yet firmly grounded vision for Kastan Mining. I am enthusiastic to collaborate with them in building a world-class mining company that benefits all stakeholders."

About Kastan Mining

Founded in 2007 and headquartered in Dar es Salaam, Tanzania, Kastan Mining is a mining and exploration company focused on mining opportunities in Tanzania. Kastan has several initiatives underway at various stages of development ranging from early exploration to late stage initiatives entering the commercialization phase.


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John Tate
Kastan Mining Limited
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