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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)

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To: Ned Land who wrote (6079)	8/16/1998 1:38:00 PM
From: Larry Dawidowitz	of 7966

SAME INFO: DIFFERENT NEWSPAPER Ashton rocks market with surprise resignations aap Page 51 ( 312 words ) Thursday, 13 Aug 1998 From section: Business Publication: Newcastle Herald DIAMOND miner Ashton Mining Ltd surprised the market yesterday, announcing the immediate resignation of chairman Nobby Clark and managing director John Robinson. Mr Clark was replaced by Mr Paul McClintock, who is associated with Ashton's major shareholder, Malaysian Mining Corp. Mr McClintock joined the Ashton board in February this year after previously resigning in 1996. He was chairman of Plutonic Resources Ltd before it was taken over by US group Homestake Mining Co. Malaysian Mining had a stake in the Plutonic. A international search for Mr Robinson's replacement has begun and finance director Mr Douglas Bailey will act in the position for the interim. Ashton declined to comment on the reasons for the changes but did say no change had been made to the company's focus. Malaysian Mining also confirmed its intention to maintain its shareholding in Ashton, Ashton said in a statement. Mr McClintock and his father, Sir Eric, are Malaysian Mining's representatives in Australia through their business McClintock and Associates. Sir Eric is the chairman of the registered Australian subsidiary of Malaysian Mining. Sir Eric was not available for comment yesterday, having flown back from Malaysia overnight. Mr Clark was not available for comment. Mr Robinson joined Ashton in 1988 and became managing director and chief executive in August, 1991. He was an Ashton appointment to the 35%-owned Aurora Gold Ltd and 61.4% Ashton Mining of Canada Inc. Aurora announced he had resigned from the board yesterday. Mr Clark was appointed a director and deputy chairman in March, 1994, and took over as chairman in August, 1994. Mr McClintock said in a statement that Ashton was at a turning point in its history.

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