Shefa Gems announced the appointment of Mrs. Vered Toledo as Chief Executive Officer (CEO) of the Company with immediate effect. The following changes have also occurred with immediate effect: Mr. Yosef (Yossi) Itzhak Taub has been appointed as Corporate Development Executive Director and the Board of Directors has created a new Executive Committee. Vered has worked with the late Avi Taub on the development of the Company's exploration project in the Kishon Mid-Reach region, Northern Israel, since its very beginning some 21 years ago.

Vered was previously Shefa Gems' Chief Operations Officer (COO). The Board of Directors has appointed an Executive Committee to deal with the day-to-day management of the Company's affairs.