Highlights? Martin Rowley, First Quantum Minerals co-founder and...

Highlights
? Martin Rowley, First Quantum Minerals co-founder and former Lithium One Inc. Chairman, appointed to Special Management Committee
? Mr Rowley’s appointment endorsed by major shareholders following the resignation of previous Managing Director
? Special Management Committee formed to oversee a review of the Company’s current business, operations and
board composition
? Board, Special Management Committee and major shareholders endorse re-launch Entitlement Issue

Galaxy Resources Ltd (ASX: GXY) (“Galaxy” or “the Company”) advises that it has established a Special Management Committee, as an advisory committee reporting to the Galaxy Board, consisting of interim Managing Director Anthony Tse, Non-executive Director Xiaojian Ren, Galaxy executive Charles Whitfield, and Martin Rowley. The scope of the Committee’s work will focus on various strategic initiatives, including a general review of the Company’s business, operations and financial structuring.
Interim Managing Director, Anthony Tse said: “The establishment of a Special Management Committee and the appointment of Martin Rowley are of strategic importance during this key stage of development for the Company. Mr Rowley brings a wealth of management experience, along with a proven track record of successfully developing companies into sector leaders within their industry. As well as his role on the Special Committee, he will assist in a review of the Board structure with the objective of evaluating and identifying the optimal composition and skill set required to best serve the strategy and development of Galaxy going forward.”
Mr Rowley was a co-founder of TSX and LSE-listed First Quantum Minerals Ltd and is currently that company’s Executive Director, Business Development. First Quantum is one of the world's largest copper production companies and the owner of the Ravensthorpe nickel project in Western Australia with a market capitalisation of approximately $9 billion. He was previously Chairman of Lithium One Inc., which was acquired by Galaxy by way of a Plan of Arrangement in July 2012. He is also non-executive Chairman and a director of Forsys Metals Corp, a TSX-listed company in the uranium sector.
Mr Ren is a co-founder, Executive Director and the CEO of Creat Group. He has significant experience in the China banking and finance sector having previously served with the Agricultural Bank of China at the Jiangxi Provincial level as well as the corporate headquarters. The Creat Group was established in 1992 and has made some significant investments in leading corporations across China, including Henan Pinggao Electric (listed on the Shanghai Stock Exchange), Yantai North Andre Juice (a world leading producer of fruit juice concentrate and listed on the Hong Kong Stock Exchange), Shanghai RAAS (a leading blood products manufacturer and listed on Shenzhen Stock Exchange), as well as other manufacturing, real estate and nonferrous metals and mining companies.

Following the appointment of Mr Rowley, the Galaxy Board, Special Management Committee and the Company’s major shareholders have agreed to proceed with the Entitlement Issue.
Shareholders will be advised of further arrangements around the Entitlement Issue, with a Supplementary Prospectus to be issued to the market shortly.