Stonehenge Metals Limited : Stonehenge Restructures Board

4 September 2012

Market Announcements Platform

ASX Limited, Exchange Centre ASX Code: SHE

20 Bridge Street

Sydney NSW 2000

STONEHENGE RESTRUCTURES BOARD

Stonehenge Metals Ltd (ASX: SHE) (Stonehenge or the Company) advises it has restructured its Board to position itself for the next stage of development as it seeks to progress opportunities in South Korea and further establish its presence there.
Stonehenge is pleased to advise that its CEO, Korea Mr Young Yu has accepted an invitation to join the board of Stonehenge as Executive Director.
Further, the Company advises that Mr Warren Staude and Mr Bob Cleary have stepped down as Directors. The Company would like to thank Mr Staude and Mr Cleary for their contribution in the Company's development to this stage. Mr Staude is a founding Director of Stonehenge and has been an invaluable member of the Board since its listing in 2006. Mr Cleary joined the Board shortly after the Company's acquisition of its South Korean Uranium Project in 2010 and has been a major contributor as the Company developed its metallurgical and environmental expertise.
Managing Director Mr Richard Henning will assume the role of Executive Chairman as part of the restructure and Mr Bevan Tarratt will remain a Non-Executive Director.

Stonehenge Metals Limited Media enquiries

Richard Henning - Managing Director David Tasker - Professional Public Relations

T: + 61 8 9481 2276 T: [phone]

E: [e-mail]: [phone]

ABOUT STONEHENGE METALS

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Stonehenge Metals Limited (ASX Code: SHE) is developing a multi-mineral project in South Korea. Stonehenge owns 100% of the rights to three projects in South Korea including the Company's flagship Daejon Project which contains the largest uranium resource within South Korea at 65.0Mlbs (inferred) grading 320ppm eU3O8 (in accordance with JORC guidelines).

South Korean Project Locations

Competent Persons Statement

The information contained in this ASX release relating to exploration results, exploration targets and Mineral Resources has been compiled by Mr. Michael Andrew of Optiro Ltd. Mr. Andrew is a Member of The Australian Institute of Mining and Metallurgy. Mr. Andrew has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as Competent Persons as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Andrew consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.