Carbine Tungsten Limited announced that the company has appointed Mr. Russell Krause as Non-Executive Chairman, effective June 30, 2013, and Mr. Rolly Nice will assume the role of Non-Executive Director, effective June 30, 2013. Mr. Krause has over 25 years Executive Management and Director level experience in a range of corporate advisory, stockbroking, and investment banking roles with some of Australia's leading financial services firms. Mr. Krause also has extensive experience in the resources sector providing equity capital markets, capital raising and corporate advisory services to a range of ASX listed mining and energy companies. Mr. Krause is currently a Director of ASX-listed Oil & Gas producer, Austex Oil Limited, Singaporean registered AuzMinerals Resources Group Pte Ltd, and Novus Capital Limited.

Mr. Krause replaces Dr. Leon Pretorius who will step down from his role as Chairman on June 30, 2013 to more fully pursue an opportunity in Africa and his other investments in Australia. In addition, the company has appointed Mr. Rolly Nice to the role of Non-Executive Director. Mr. Nice is a metallurgical engineer with over 45 years experience.

Mr. Nice was most recently a consulting metallurgical engineer in the role of Senior Associate for Behre Dolbear Australia, where he was involved in due diligence activities and consulting on some of the large poly-metallic, gold and uranium projects including Newcrest's Cadia, Ridgeway and Telfer gold projects, Barrick's Cowal gold project, LionOre's Thunderbox gold project and numerous other non- ferrous metal mining projects. Mr. Nice's work as a consultant has included specific experience in Tungsten processing. Prior to this, Mr. Nice was the Principal at technical consulting firm, R. W. Nice and Associates, which followed approximately 20 years in a range of roles with Pancontinental Mining Limited, including General Manager Technology and Metallurgy.

While with Pancontinental, Mr. Nice was intimately involved in the test work and feasibility studies that led to the development of the Paddington and Kundana gold mines (3.0 Mtpa), the Jabiluka uranium project, the Thalanga Cu-Pb-Zn mine, the QMAG magnesia operation and the Wodgina tantalum operation.