Governance and Nominating Committee

Orsu Metals is committed to the principle of best practice in corporate governance.

The Orsu Metals Corporation Board (“the Board”) establishes the strategic direction of the company, which the management team then implements.

The Directors support the highest standards of corporate governance and observe the requirements of the Combined Code to the extent they consider appropriate in light of the Company’s size, stage of development and resources.

Dr Sergey V Kurzin is the Executive Chairman of the Company.

The Company will hold timely board meetings periodically as issues arise which require board attention. The Directors are responsible for formulating, reviewing and approving the Company’s strategy, budget, major items of capital expenditure and senior personnel appointments.

In July 2008, the Company set up Compensation, Nominating and Audit & Corporate Governance committees with formally delegated duties and responsibilities. These committees are represented by Mark Corra, Timothy Hanford and Massimo Carello as the Chairman.