Corporate

Gulf Mines Limited

Directors

Annual Report

Corporate Governance

Directors

ROY PAYNE

Solicitor of Supreme Court Qld – Age 55
Non Executive Chairman – Appointed 6th October, 2005

Mr Payne is the Managing Partner of Williams Graham Carman a legal firm in Cairns, and has over 25 years experience in commercial law and litigation in Far North Queensland, including extensive experience in banking and securities, acting for a number of major nationwide lenders. He has experience in acting for local Government and previously had 12 years litigation and dispute resolution experience with the Department of Justice in Queensland. He presently has a busy commercial law practice in the areas of property development, leasing, business development acquisition and sales, franchising and advising on business structures including companies and trusts.

GRAHAM REVELEIGH

MSc MAusIMM CP(Man) MCIMM – Age 63
Managing Director – Appointed 31st May, 1993

Mr Reveleigh has wide experience in the mining industry, covering exploration, development, construction and mine operations. Graduating from University of Queensland in 1966 with a BSc majoring in Geology. Mr Reveleigh spent 10 years in active exploration for gold, uranium, copper, and other minerals before becoming Mine Manager at Noble’s Nob, where he ran the operations for seven years. During his exploration years Mr Reveleigh completed an MSc at James Cook University of North Queensland in 1977. Subsequently, he has worked on numerous projects both in Australia and overseas as a consultant. Mr Reveleigh worked for Northern Gold NL at Hill End NSW; Elders Resources at Red Dome, Qld as Mine superintendent /Mine Manager; Cyprus Gold Australia Corp as Project Manager for the feasibility study, construction, and operation of Moline Gold Mine in the Northern Territory, as Project Manager for Arimco at Gold Ridge, Solomon Islands; as part of the Pacific Delta team for Kennecott at Lihir; as well as smaller jobs in Philippines, New Caledonia, Siberia and most States in Australia. Mr Reveleigh has been the Site Manager for Hill End Gold Limited at Hill End NSW since the commencement of the project, and was the founding Managing Director of that Company. Other listed company directorships held during past 3 years:

- Drillsearch Energy Limited - Circumpacific Energy Limited
- Hill End Gold Limited - Bounty Oil & Gas NL

DR PETER SMITH

BSc (Hons) MBA PhD – Age 49
Non-Executive Director – Appointed 6th October, 2005

Dr Smith has more than 12 years, and a significant reputation in the asset and funds management and financial consulting industries. He has been involved with a number of companies in investment management and corporate finance. He was previously a senior portfolio manager at ACSIS Wealth Management (Australia) Ltd where he successfully managed and designed large superannuation and investment funds for several years. He also previously held directorships with the Investec Group Australia as CIO for several years. Additionally, he managed the treasury investments and Australian domiciled funds of Investec Australia Ltd. He currently holds a directorship in Prema Capital Ltd group of companies, an Investment Banking operation specializing in a comprehensive range of financial advice and services including; investment advice, reporting, valuations and analysis, capital raising, IPO’s, corporate restructuring, MBO, M&A and joint ventures.

DARREN THAMM

BCom CA
Company Secretary – Appointed 12th December, 2006

Darren Thamm is a Chartered Accountant with 10 years experience and is Audit Manager at WHK in Cairns. Before taking this role he has held senior positions in commercial roles throughout North Queensland, and he held the position of Audit Manager at KPMG for several years and was involved in the audit of numerous organizations in the Far North Queensland region. He has strong skills in systems analysis and business process improvement management, having provided these services to several companies as part of the audit process. He has also been actively involved in the training of other Chartered Accountants, being involved in the delivery of several modules of the Chartered Accountants Program in Cairns for several years.