Pala Establishes Advisory Council

JERSEY, Channel Islands--(Business Wire)--
Pala Investments Holdings Limited ("Pala"), a multi-strategy investment company
focused on the mining and natural resources sector, today announced the
formation of an Advisory Council comprised of industry leaders to provide
strategic guidance and counsel as Pala`s activities continue to grow.

"The Advisory Council, with its collectively vast industry expertise, will be a
valuable resource to Pala as it expands its activities," stated Jan Castro,
managing director of Pala Investments AG. "We are looking forward to working
with such prestigious and seasoned industry professionals."

Pala is pleased to welcome the following initial council members:

Timothy Haddon - Mr. Haddon is a seasoned mining engineer with over 35 years of
international mining and business experience. Mr. Haddon was formerly president
and chief executive officer of Archangel Diamond Corporation from 1997 to 2002,
a Toronto Stock Exchange (TSX) mining and diamond development company. While at
Archangel, Mr. Haddon secured the company`s ownership of a diamond asset with
over $5.2 billion of diamond reserves and negotiated the acquisition of a
controlling stake in Archangel by DeBeers. He was also a founder and chief
executive officer of First Dynasty Mines from 1994 to 1997, a TSX-listed mining
and development company, whose market capitalization grew from $56 million to
over $300 million in three years.

Previously, Mr. Haddon was the chief executive officer of Amax Gold Inc. from
1989 to 1993, a global mining company with operations in Australia, Southeast
Asia and North and South America which was ultimately acquired by Kinross Gold
Corporation in 1998. During his tenure with Amax Gold, Mr. Haddon directly
contributed to the development and growth of the company from a single site
operator into a major international gold mining company. He was principally
responsible for the IPO of Amax Gold Inc. on the NYSE, which was the culmination
of its transformation from a private company with book value assets of $100
million to a public company with a market capitalization in excess of $1
billion. He also successfully merged Amax Gold with its controlling shareholder,
forming Cyprus Amax Minerals in 1993.

Mr. Haddon also spent six years working for Texasgulf (1970 - 1976) as a mining
engineer with projects in Australia and North America.

Mr. Haddon is currently president and chief executive officer of International
Natural Resource Management Co., a sophisticated mining industry consulting
service provider and investor. Mr. Haddon is chairman of the board of directors
of Anatolia Minerals Development Limited, a Canadian-listed company with
significant gold exploration and early stage production operations in Turkey. In
addition Mr. Haddon is Lead Director of Thompson Creek Metals Inc, a Canadian
and NYSE listed Molybdenum producer with mines in the USA and Canada.

Mr. Haddon is a graduate of the Colorado School of Mines.

Christopher Thompson - With over 38 years of experience in the mining and
natural resources sector, Mr. Thompson has considerable financial, operational
and management experience. Mr. Thompson was formerly the chairman (1998 - 2005)
and chief executive officer (1998- 2002) of Gold Fields Ltd., a major
international gold producer with over 50,000 employees and operations on five
continents and listed on the New York, London, Johannesburg and Swiss Stock
Exchanges. Under the leadership of Mr. Thompson, Gold Fields grew from a company
with a market capitalization of $1 billion to the world`s most profitable gold
company, with a market capitalization of over $8 billion, reserves and resources
of over 280 million ounces and annual production of 4.2 million ounces.

Mr. Thompson was also the chairman of the World Gold Council (WGC) from 2002 to
2005, the gold industry knowledge and marketing organization, where he drove the
reorganization of the WGC and was a driving force behind the listing of gold
ETFs on the New York Stock Exchange, London Stock Exchange and other exchanges.

In addition to his significant experience as a senior executive in the mining
industry, Mr. Thompson also has over 20 years of investing and management
experience in the mining and natural resources sector. He founded and was chief
executive officer of Castle Group Inc, an independent international investment
company that managed private equity partnerships formerly under the Eaton Vance
Corporation. The Castle Group made focused private equity investments in several
international gold mining projects and, through its investments, assisted in the
development of many new mines.

Mr. Thompson is currently a director of Teck Cominco, a major Canadian zinc,
copper and coal producer with mining operations or exploration activities
throughout the Americas, Asia Pacific, Europe and Africa.

Mr. Thompson is a graduate of Rhodes University, SA and Bradford University, UK
(MSc).

About Pala

Pala Investments Holdings Limited, based in Jersey, Channel Islands, is a US$1.0
billion multi-strategy investment company with a particular focus on mining and
natural resource companies in both developed and emerging markets. Pala
Investments` exclusive investment advisor, Pala Investments AG, is a
Switzerland-based team with extensive experience within the mining and natural
resource sectors. Pala Investments seeks to assist companies in which it has
long-term shareholdings by providing strategic advice and innovative financing
solutions. For more information, visit www.pala.com.

Pala Investments AG
Colin Murray, +41-41-560-9070

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