DIATREME RESOURCES LIMITED
ABN: 33 061 267 061
Postal Address: P.O Box 10288 Brisbane Adelaide Street QLD 4000
Registered Office: Level 2 87 Wickham Terrace Spring Hill QLD 4000
PH: +61 (0)7 3832 5666 FX: +61 (0)7 3832 5300 www.diatreme.com.au manager@diatreme.com.au
ASX : DRX
Company Announcement Office Australian Securities Exchange Level 4, 20 Bridge Street
Sydney NSW 2000
1 July 2014
Dear Shareholder
RE: RECENT COMPANY BOARD AND MANAGEMENT RESTRUCTURE
Diatreme Resources Limited (Diatreme) has today announced a corporate restructure of its Management and Board, a copy of which is attached for your information. Following review and consideration of market conditions currently facing junior mineral explorers, the Board had to make hard decisions in representing all shareholders' interests to ensure the Company's continued viability.
As new Chairman, I look forward to serving you, our shareholders, supported by the new
Acting Managing Director, Mr Neil McIntyre.
The restructured Board and Management will continue to focus its attention in the short term on:
1 Achieving key Cyclone Zircon Project milestones, which include the grant of the mining lease application and approvals associated with the proposed haul road
corridor.
2 Reviewing the Company's tenement portfolio.
3 Prioritising and progressing those projects identified as maintaining good prospectivity.
It is a privilege to be appointed as Chairman of the Diatreme Board as we progress the
Company to a successful and prosperous future. Yours Sincerely
William Wang
Chairman
Encl: ASX release - 1 July 2014 - Corporate Restructure
DIATREME RESOURCES LIMITED
ABN: 33 061 267 061
Postal Address: P.O Box 10288 Brisbane Adelaide Street QLD 4000
Registered Office: Level 2 87 Wickham Terrace Spring Hill QLD 4000
PH: +61 (0)7 3832 5666 FX: +61 (0)7 3832 5300 www.diatreme.com.au manager@diatreme.com.au
ASX : DRX
Company Announcement Office Australian Securities Exchange Level 4, 20 Bridge Street
Sydney NSW 2000
1 July 2014
CORPORATE RESTRUCTURE
Diatreme Resources Limited (Diatreme or the Company) wishes to announce that following a Company structural review undertaken by the Board that the Chairman/CEO, Mr Tony Fawdon, and the Executive Director Operations, Mr David Hall, will depart the Company today on a negotiated early retirement and redundancy package.
As a result of their long standing tenure with the Company, Mr Fawdon and Mr Hall have indicated their co-operation in providing advice and support as may be required by the new management.
Long standing current Non Executive Director, Mr William Wang, has assumed the role of Non Executive Chairman and current Non Executive Director, Mr Neil McIntyre, has been appointed Acting Managing Director.
A number of Diatreme's major shareholders have indicated their full support for the restructuring and will work with the Board to undertake capital raising, in which it is anticipated they will actively participate, over the next 60 days.
The Chairman, Mr William Wang, commented "I would like to thank Tony and David for their significant contributions to the Company over the past 13 years, which initially saw the Company listed in 2003 on the Newcastle Stock Exchange and then promoted to the ASX in
2005. The discovery of the Cyclone Zircon Deposit followed in 2007. We wish them well in their future endeavours".
DIATREME RESOURCES LIMITED
TUAN DO
Company Secretary
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