Aspire Mining Limited (ASX:AKM) Appoints Andrew Edwards and Mark Read as Non-Executive Directors

Mongolian-focused coking coal explorer Aspire Mining Limited (ASX:AKM) (PINK:ASPXF) is pleased to announce the appointments of Mr Andrew Edwards and Mr Mark Read as Non- Executive Directors of the Company, effective 1 July, 2011.

Mr Edwards is a recently retired senior partner with PricewaterhouseCoopers ("PwC"). Mr Edwards had a distinguished career with PwC spanning 35 years in Perth, Auckland and Sydney. He served as Managing Partner of the Perth practice for five years and led the Perth Advisory business. Mr Edwards is a past National Vice President of the Financial Services Institute of Australasia (formerly Securities Institute of Australia) and past President of the Western Australian division of that Institute.

He currently serves as a Non-Executive Director of Mermaid Marine Australia Ltd (ASX:MRM), Nido Petroleum Ltd (ASX:NDO) and is Non-Executive Chairman of MACA Ltd (ASX:MLD). He is also a past director of Calibre Global Pty Ltd.

Mr Read is the immediate past CEO and Managing Director of ASX listed coal engineering and technology company Sedgman Ltd. While at Sedgman, Mr Read was responsible for an overseas expansion strategy that led Sedgman to position itself in emerging high-grade coal regions including Mongolia and Mozambique. Prior to his appointment as chief of Sedgman, Mr Read was General Manager of Mining and Metals and Executive Director of engineering services firm Sinclair Knight Merz, where he was employed for 20 years.

Aspire also announces the resignation from the Board of Mr Russell Lynton-Brown. Mr Lynton-Brown has served as a Non-Executive Director of Aspire since 2006 and was involved in Aspire's acquisition of the company's flagship Ovoot Coking Coal Project. The Aspire Board thanked Mr Lynton-Brown for his significant contribution to the Company and wished him well in his future endeavours.

Aspire Chairman, Mr David McSweeney said the change in the Board's composition was a natural evolution for the Company: "We welcome the appointments of Andrew Edwards and Mark Read to the Aspire Board. Both are leaders in their respective fields and bring a wealth of knowledge and expertise to the Company, which will help guide us through our next exciting growth phase as we move from an explorer to a mining company."

"I and the rest of the Aspire Board sincerely thank Russell for his involvement in the Company's significant development over the last five years," he said.

About Aspire Mining Limited

Aspire Mining Limited (ASX:AKM) owns 100% of the Ovoot Coking Coal Project in northern Mongolia. Aspire completed a Pre-Feasibility Study for the Ovoot Project in May 2012, targeting a large scale open pit mining operation, with production of 10-12 Mtpa of saleable coking coal at full capacity. Aspire is targeting first production at Ovoot in early 2016 subject to approvals and licenses. Ovoot ranks as the second largest coking coal Reserve, by project in Mongolia, with a JORC Code compliant Coal Resource at Ovoot of 252 Mt (156 Mt Measured, 70 Mt Indicated, 26 Mt Inferred) and Probable Coal Reserves of 178 Mt. Aspire is continuing to progress its application for a mining license, and access to rail infrastructure and other regulatory approvals.

 

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