Caracal Gold plc / EPIC: GCAT / Market: Main / Sector: Mining

14 April 2022

Caracal Gold plc ('Caracal' or the 'Company')

Senior Management Changes

Caracal Gold plc, the expanding East African gold producer with over 650,000oz JORC-compliant gold resources, is pleased to announce the appointment of Sheila Boit as Business Development Executive. Ms Boit has extensive experience working in Kenya in the sustainable construction and materials industry, having worked as Sales and Specification Manager in East Africa for London-listed Serge Ferrari and holds a Master of Business Administration (MBA) in Global Business & Sustainability from the Università Cattolica del Sacro Cuore in Italy.

The Company also announces that Jason Brewer will be retiring from his role as Commercial Director, effective immediately, in order to focus on other work commitments.  He will continue to work closely with the Company, retaining an ongoing role as a Consultant.

Chief Executive of Caracal Gold Plc, Robbie McCrae, said: "We are delighted to welcome Sheila to the team.  Her extensive experience in the region and excellent business acumen makes her an ideal candidate as we look to build our East African gold operations and the profile of our Company. Whilst we welcome Sheila, I would also like to take this opportunity to thank Jason for his hard work and commitment to the Company.  We wish him well in his new endeavours and are delighted that he will continue to support the Company in a new Consultant capacity.  

"This year is a crucial one for Caracal as we implement a number of initiatives to build production output, with 24Ktpa targeted at our flagship Kilimapesa Gold Mine in Kenya.  We look forward to delivering on this with our newly strengthened team."

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For further information visit www.caracalgold.com or contact the following:

Notes

Caracal Gold plc is an emerging East African focused gold producer with a clear path to grow production and resources both organically and through strategic acquisitions. Its aim is to rapidly increase production to +50,000oz p.a. and build a JORC compliant resource base of +3Moz.

Caracal is executing its growth strategy beyond its 100% owned Kilimapesa Mine in Kenya by acquiring additional assets in Tanzania in order to grow group resources.   Its experienced team, with proven track record in successfully developing and operating mining projects throughout Africa continues to review other complementary and strategically located projects in East Africa.

Caracal is a responsible mining and exploration company and supports the positive social and economic change that it contributes to the communities in the regions that it operates. It is a proudly East African-focused company: it buys locally, employs locally, and protects the environment and its employees and their families' health, safety, and wellbeing.

Caracal's shares are quoted on the Main Market of the London Stock Exchange (LON: GCAT) and on the Frankfurt Stock Exchange (FSE: 6IK); a listing on the Nairobi Securities Exchange is underway.