Change of Adviser and appointment of new director

3 June 2016

Asa Resource Group Plc

("Asa Resource", "the Group" or "the Company")

Appointment of Nominated Adviser, Joint Broker and non-executive director

Asa Resource Group Plc is pleased to announce the appointment of SP Angel Corporate Finance LLP ("SP Angel") as the Company's new nominated adviser and joint broker, with immediate effect.  

The Company is also pleased to announce the appointment of Mr Niall Henry as a new independent non-executive director to the board of Asa with immediate effect.

Asa's executive chairman, Mr Yat Hoi Ning, commenting on the appointment of SP Angel, said "SP Angel knows our operations in Zimbabwe well and is a highly respected nomad and broker in mining. I believe that they are extremely well suited to support the Company's strategy for future growth and we are excited about their appointment at a time when the Company is making significant progress with their restructuring and long-term strategic plans."   

Announcing the appointment of Mr Henry, Mr Ning said, "I am delighted that Niall has accepted our invitation to join the board as non-executive director. We believe his appointment will enhance the independence and balance of the board, as well as making a valuable contribution to the ongoing growth and success of the Company."

Mr Ning also took the opportunity to thank existing shareholders for their patience during a year of re-organisation. He said "it has been a very challenging time, however the board of directors believe that the measures undertaken form strong foundations for the Company's long-term financial health and future."

Mr. Niall Patrick Henry (aged 57) is a managing director of a media agency in London and has acted as an advisory board member to a number of organisations on marketing and media communications. He is familiar with the Company's operations and takes a special interest in investor relations.

Mr Henry currently holds or has held the following directorships and partnerships in the last five years:

Mr Henry and his spouse are interested in 29,070,091 ordinary shares of 1 pence each, representing 1.72 per cent of the Company's issued share capital.

There is no further information required to be disclosed in respect of Mr Henry under Schedule 2, paragraph (g) of the AIM Rules.

For further information please visit www.asaukplc.com or contact:

London:

Asa Resource Group Plc                                                                              

One Fleet Place, London EC4M 7W

Yim Kwan, Finance Director

Amilha Young, Group General Counsel and Company Secretary

Tel: +44(0) 20 3696 5470

Hong Kong:

Asa Resource Group Plc

Units 509-510, Level 5, Core E, Cyberport 3, 100 Cyberport Road, Hong Kong

Samuel Ng, Investment Manager

Tel: +852 25662638

Nominated Adviser and Joint Broker

SP Angel Corporate Finance LLP

Prince Frederick House, 35-39 Maddox Street, London W1S 2PP

John Mackay, Jeff Keating

Tel: +44 20 3470 0470

Financial Adviser and Joint Broker

Cantor Fitzgerald Europe                                                                           

1 Churchill Place, Canary Wharf, London E14 5RB

Stewart Dickson, Patrick Pittaway

Tel: +44 (0) 20 7894 7000

Public Relations

E-mail: communications@asaukplc.com