The Board of Xanadu Mines Ltd. announce the appointment of Dr. Andrew Stewart as Managing Director and Chief Executive Officer. Mark Wheatley, Executive Chairman, will move to Non-Executive Chairman. These changes are of immediate effect and are being made in line with the company's long standing and well prepared succession plan.

Andrew has been CEO since 18 March 2015 and prior to that had been Chief Geologist of the company. Dr. Stewart has already made significant contributions to the Company and this promotion to Managing Director and Chief Executive Officer is in recognition of Dr. Stewart's development, performance and leadership over the last 18 months. Andrew will continue to be based in Mongolia until the end of this financial year or a date to be agreed and will then move to Sydney.