Organisation and Management

Lapp Plats Plc
Registered Office , 22 Grafton Street, London, W154EX, United Kingdom

Secretary
Brian Barrett FCA

Auditors

LHM Casey McGrath
Chartered Certified Accountants & Registered Auditors
6 Northbrook Road
Dublin 6
Ireland

Tel: + 353 1 495 9200 Fax: + 353 1 495 9299

www.lhmcaseymcgrath.ie

Business Address
22 Grafton Street, London, W1S 4EX United Kingdom

Corporate Advisers

Davy Corporate Finance Limited, 49 Dawson Street, Dublin 2, Ireland

Tel: + 353 1 679 7788 Fax: + 353 1 671 2704

www.davy.ie

Bankers

Bank of Ireland, Bank House, 7 St Johns Road, Harrow, Middlesex, HA1 2EE,United Kingdom

www.bankofireland.ie

Registrars

Computershare Investor Services (Ireland) Ltd

Heron House, Corrig Road, Sandyford Industrial Estate, Dublin 18, Ireland

Tel: + 353 1 216 3100 Fax: + 353 1 216 3151

E-mail: web.queries@computershare.ie

Solicitors

Matheson Ormsby & Prentice, 70 Sir John Rogerson’s Quay, Dublin 2, Ireland

Tel: + 353 1 232 2000 Fax: + 353 1 232 333

www.mop.ie

Registered Number 4994974

Date of Incorporation 15 December 2003

Website www.lapp-plats.com

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Officers and P rofessional Advisers

Executive directors (click on names for profile)

Thomas O'Gorman - Non-Executive Chairman

Michael Nolan - Executive Director

Brian Barrett - Finance Director

Paul Sweeney - Non-Executive Director

Michael Nolan, age 43 – Chairman

Michael Nolan has worked in the junior resources sector, in various capacities, for over eleven years. He has gained industry knowledge through founding, investment in and serving on the boards of a number of public exploration and mining companies in the UK, Ireland, Sweden and Canada.

Mr Nolan trained as a chartered accountant and worked in practice with Deloitte followed by a five-year period in corporate finance and private equity. He served as financial controller of a number of companies prior to joining Minmet as Finance Director in 1994. He has been chief executive officer of Minmet since November 1999.

In addition to his work with Minmet, he was involved in the promotion and listing of Crediton Minerals plc the precursor to Tiger Resource Finance plc, Lapp Plats and GoldQuest Mining Corporation.

Brian Barrett, age 40 – Director and Secretary
Mr Barrett has worked as a chartered accountant and financial consultant since 2003 having formerly been director of Treasury & Finance (Europe) with US multinational Modus Media International Inc. for five years. He is a fellow of the Institute of Chartered Accountants in Ireland, having qualified as a chartered accountant in 1990.

EMPLOYEES
The Company has no employees as at the date of this document. Dr. Tim Fletcher who left the full time employment of the Company on 30 April 2005 has agreed to remain available to the Company on a consultancy basis.

CORPORATE GOVERNANCE
The Directors intend to develop appropriate measures (having regard to the current stage of development of the Company), to comply as far as is practicable with the Combined Code, as applicable to listed companies and set out in the Listing Rules of the UK Listing Authority and the Rules of the Irish Stock Exchange.

The Company has formally adopted the Model Code governing Directors’ share dealings as applicable to AIM and IEX companies and will take all reasonable steps to ensure compliance by the Directors and relevant employees.

The Chairman
The role of our Chairman is to build and maintain a balanced and effective Board based on the skills required to run an operation the size and complexity of which matches that of our company. [He/She] must ensure that meetings of the Board are effectively run by setting the agenda, tone and style to ensure expedient decision making.

Our Chairman leads and manages the business of the Board to provide clear direction and focus, as well as leading them in determining company strategy. Part of this role is to facilitate the effective contribution of non-executive directors and ensure directors receive accurate, timely and clear information [He/She} also ensures that the strategy decided upon is effectively implemented.

Our Chairman is responsible for promoting best practice and the highest standards of corporate governance.

The Chief Executive
Our Chief Executive has direct charge of the group on a day to day basis and is accountable to the Board for the strategic, financial and operational performance of the Group.

The Financial Director
The role of our Finance Director is broad and encompasses wider duties than simply maintaining financial records. [His/Her] principal duty is to ensure that the financial strategies of our company support the broader corporate aims of the business. [He/She] is responsible for maintaining financial accounting for the company and the board, including the maintenance of records of expenses and income of the Board.

The Non-Executive Directors
Our Non-Executive Directors do not form part of the executive management team and they are not employees of the company or otherwise connected with it in any other material way. They have two major responsibilities. Firstly they are responsible for strategy in that they should constructively challenge and contribute to the development of strategy. Secondly in terms of performance of the company, they should scrutinise the performance of the management in attaining agreed goals and objectives. They must monitor the workings of the Board and senior management and be concerned with internal risk control.. In short our Non-Executive Directors are custodians of the governance process.

Remuneration Committee

The Remuneration Committee meets at least twice each year. The committee is responsible for setting the remuneration policy for the Chairman, the executive directors, and senior executives. This means that no director or executive shall be involved in any decision concerning their own remuneration. Specifically, the Remuneration Committee agrees their service contracts, salaries, and other benefits - including bonuses and participation in the company's long-term incentive plans (should there be any) - and other terms and conditions of employment.

Audit Committee

The principal duty of the audit committee is to oversea the Company’s relationship with the external auditors, and they may advise the board on all matters concerning that relationship. This will include issues regarding fees, appointment and dismissal of the auditors. The committee may also review with the external auditors the relationship between the company and the auditors including the optimal way to maintain the policy of independence.”