polo resources ltd (POL) Snapshot

Polo Resources Limited announced Mr. Michael Vee Mun Tang is joining the Board as Executive Co-Chairman and Managing Director of the company and Mr. Kian Meng Cheah as a Non-Executive Director. Mr. James Mellon has also resigned as a Non-Executive Director. Mr. Tang will work alongside Polo's Co-Chairman Mr. Stephen R. Dattels. Mr. Tang, aged 40, is the principal of Mettiz Capital Limited.

Polo Resources Limited announced that Nimini Holdings Limited, Polo's 90% owned Sierra Leone gold exploration and development company, has released a progress update for its gold project and further drilling results. Highlights from First 19 Holes of 2013 Drilling: Hole NWKD351 returned 12.58 g/t Au over 3 m (1.71 m true width) from 459 m and a further 5.55 g/t Au over 4.35 m (2.48 m true width) from 479.30 m that indicates a potential extension to the strike of Zone 1 Block 1 by approximately 50 m at depths of 400-500 m below surface; 90.90 g/t over 0.65 m (0.34 m true width) from 415.40 m in NWKD358 over Block 2 hanging wall mineralisation. NWKD358 also intersected 4.09 g/t over 5.33 m (2.82 m true width) from 575 m, including 10.26 g/t over 1.27 m (0.67 m true width) from 578 m over the main Block 2 Zone 2 mineralisation, indicating potential continuity of this Zone to approximately 500 m below surface; Two 4.77 g/t Au intersections from NWKD353 from 171.50 m and 294.80 m over 1.5 m (0.75 m true width) and 2.33 m (1.16 m true width), respectively, further indicating the potential existence of multiple mineralised zones in Block 3; 23.00 g/t Au over 0.7 m (0.29 m true width) in NWKD357 from 363.18 m that highlights the potential for down-dip continuity of Block 3 mineralisation to approximately 350 m below surface.

Polo Resources Limited intends to pursue acquisitions. Management of the company maintains a close focus over the Company's investments and takes a cautious approach to further acquisitions in the current market environment.