Manhattan Corporation Limited (MHC), Awati and the shareholders of Awati have executed a Heads of Agreement pursuant to which MHC will, subject to satisfaction of certain conditions precedent, acquire 100% of the shares in Awati. Mr. Jens Balkau - Proposed Board Member - BSc Hon, MSc DIC It is proposed, at Completion, that Mr. Jens Balkau will join the board of MHC as a Non-Executive Director. Jens has more than 40 years' experience as a geologist, formerly with Western Mining Corporation and Regis Resources Limited, where he led the discovery and definition of more than 5Moz of gold in the Duketon Belt of Western Australia. His discovery record also includes the world-class Tampakan copper-gold project in the Philippines and he was involved in the Babel and Nebo nickel discoveries in the West Musgrave region of central Australia. Jens is a member of the AusIMM and Australian Institute of Geoscientists.