V6C 2G2 Telephone: (604) 608-6611 Facsimile: (604) 608-6620 Trading Symbol: H
HARMONY GOLD CORP.
1780 – 355 BURRARD STREET VANCOUVER, BC V6C 2G2
Telephone: (604) 608-6611 Facsimile: (604) 608-6620
Trading Symbol: H
NEWS RELEASE
Termination of Letters of Intent, Change of Management and Termination of Stock Options
Vancouver, B.C. March 14, 2012 – Harmony Gold Corp. (the Company) announces that it has terminated the letters of intent with Montauk Mining and Minerals Ltd., announced November 3, 2011, pursuant to which the Company was granted an option to acquire a project in Zambia and with Patrick McDowall and Dave Smith, announced November 18, 2011, pursuant to which the Company was granted an option to acquire a claims located in the Northwest Territories.
The Company is pleased to announce the appointment of Michael Dake as Chief Executive Officer and Director. Mr. Dake has over 14 years of experience providing financing, investor relations and corporate communication services to public companies. Mr. Dake also serves as a director of several TSX Venture listed companies. Grant Hall has resigned as CEO however Mr. Hall will remain as a director of the Company. The Company has also accepted the resignation of Craig Engelsman as director of the Company. The Company would like to thank Mr. Engelsman for his services.
The Company also announces that all existing outstanding stock options are being terminated effective immediately. Any current holders will have the right to exercise any outstanding option within the terms of the stock option plan.
ON BEHALF OF THE BOARD OF DIRECTORS
“Jerry A. Minni”
Jerry A. Minni
Director
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
WARNING: THE COMPANY RELIES ON LITIGATION PROTECTION FOR “FORWARD LOOKING” STATEMENTS. THESE STATEMENTS ADDRESS FUTURE EVENTS AND CONDITIONS AND, AS SUCH, INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE THE COMPANY’S ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY THE STATEMENTS. FORWARD-LOOKING STATEMENTS ARE MADE BASED ON MANAGEMENT'S BELIEFS, ESTIMATES AND OPINIONS ON THE DATE THAT STATEMENTS ARE MADE AND THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE FORWARD-LOOKING STATEMENTS IF THESE BELIEFS, ESTIMATES AND OPINIONS OR OTHER CIRCUMSTANCES SHOULD CHANGE, EXCEPT AS REQUIRED BY LAW. ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THOSE DESCRIBED IN THE NEWS RELEASE AS A RESULT OF NUMEROUS FACTORS, SOME OF WHICH ARE OUTSIDE THE CONTROL OF THE COMPANY. THE INFORMATION RELATING TO OTHER COMPANIES CONDUCTING EXPLORATION IN THE URBAN-BARRY BELT IS INCLUDED FOR THE PURPOSES OF GIVING INVESTORS GENERAL BACKGROUND INFORMATION OF EXPLORATION ACTIVITIES IN THE AREA. THE READER IS CAUTIONED NOT TO PLACE UNDUE RELIANCE ON SUCH GENERAL INFORMATION.