Board of Directors

Sir John Craven (Non-Executive Chairman) joined the Board in 2004. Sir John is Non-Executive Chairman of Lonmin plc, a FTSE 100 company that is one of the three largest producers of platinum group metals in the world, and was formerly Chairman of Morgan Grenfell plc, a member of the Board of Managing Directors of the Deutsche Bank Group and a Director of a number of other companies.

Carlos J Miguens (Non-Executive Deputy Chairman) has extensive business experience in Latin America. He was President for 11 years of Cerveceria & Malteria Quilmes, one of Argentina's largest brewing companies, until its sale to Ambev. He is the Vice President of Central Puerto SA and Hidroelectrica Piedra del Aguila SA, two of the main utilities companies in Argentina. He is also a Director of a number of other companies and has been a Director of Patagonia Gold SA since its inception.

William H Humphries (Managing Director) has been a Director of the Company since its inception and has over 35 years' experience in the mining and civil engineering industries. From 1996 to 1998 Bill was General Manager of Sardinia Gold Mining SpA and from January 1999 he was Managing Director of Brancote Holdings PLC until its acquisition by Meridian Gold Inc in 2002. He is Chairman of Landore Resources Limited.

Gonzalo Tanoira (Finance Director) has been a Director of Patagonia Gold SA since its inception. He is a Director and member of the audit committee of SA San Miguel and Central Puerto SA and a Director of Hidroelectrica Piedra del Aguila SA. He is also a Director of a number of other companies. Previously, Gonzalo worked for Bear Stearns & Co. (New York) in its investment banking division for Latin America. He was also an associate at Booz Allen & Hamilton in its Buenos Aires office. Gonzalo holds an MBA from the Wharton School of the University of Pennsylvania.

Richard Ö Prickett (Non-Executive Director) is a chartered accountant and has many years' experience in corporate finance. Richard was Chairman of Brancote Holdings PLC from 1995 until its acquisition by Meridian Gold Inc. in July 2002. He was Chairman of the Company since its inception until June 2004. He is a Director of Landore Resources Limited, and a Non-Executive Director of The Capital Pub Company PLC, Asian Growth Properties Limited and City Natural Resources High Yield Trust PLC and non-executive Chairman of the Lewis Charles Romanian Property Fund Ltd.

Marc J Sale (Non-Executive Director) is a Fellow of the Australian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists with over 25 years' experience with mineral exploration and development companies. He managed the operations of the Company from May 2002 to June 2005 and, prior to joining the Company, was Project Manager for Brancote Holdings PLC's Esquel Gold and Silver Project in Argentina.