appointment of peter bilbe & board restructure

Appointment of New Independent Chairman and Board Restructure

The Board of Sihayo Gold Limited is very pleased to announce the appointment of Mr Peter Bilbe as Non-executive Chairman.

Mr Bilbe brings over 35 years of corporate, operational and international mining industry experience to the Company covering the full range of mining industry management positions, including; Chief Executive Officer, Chief Operating Officer, General Manager Operations, General Manager Technical, Project Director, Mine Manager and Senior Mine Engineer.

Mr Bilbe holds a Bachelor of Engineering (Mining )(Hons) degree from the University of New South Wales (1974), is a member of AusIMM and holds various Mine Managers Certificates of Competency.

Over the past three years Mr Bilbe has held Executive Director and Non-Executive Director positions with the following companies; Mount Gibson Iron Limited, RMA Energy Limited, Aurox Resources Limited, Northern Iron Limited, Independence Group NL and Norseman Gold Plc.

From 2004 to 2007, Mr Bilbe was Managing Director and Chief Executive Officer, Aztec Resources Limited (Aztec) and was instrumental in the development of the Koolan Island Iron Ore Project from exploration and bankable feasibility study through to financing, construction and operation.

Mr Bilbes substantial gold industry experience over some 20 years includes all aspects of narrow vein and large scale open pit and underground gold projects at Kalgoorlie Consolidated Gold Mines Limited (the Golden Mile, Kalgoorlie, WA), the Norseman goldfield (WA) and internationally at South Africa and Papua New Guinea (Morobe Gold Project, Hidden Valley).

Mr Bilbe brings a very significant depth and breadth of mining industry experience to the Board of Sihayo Gold and this will be of particular value to the Company as we progress through the feasibility and development process of the Sihayo Gold project in North Sumatra, Indonesia.
Our current Chairman, Misha Collins, will remain on the Board as a Non-Executive Director, while current Non-Executive Director Ian Macpherson will step down to make way for Mr Bilbe. The board would like to thank both Mr Collins and Mr Macpherson for their efforts over the past 12 months of significant change during which the Company has successfully repositioned itself to focus on our attractive Indonesian gold assets and exploration skills.

Yours faithfully

SIHAYO GOLD LIMITED

PAUL WILLIS
Chief Executive Officer