Appointment of independent non-executive director

23 April 2021

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Appointment of independent non-executive director

Chaarat (AIM:CGH), the AIM-quoted gold mining Company with an operating mine in Armenia and assets at various stages of development in the Kyrgyz Republic is pleased to announce the appointment of Sandra (Sandy) Stash as an independent non-executive director with effect from 1 May 2021.

Sandy has over 35 years of international executive and non-executive board experience. Her professional career spans top leadership positions in general management, ESG, major projects, commercial negotiations, engineering and operations, supply chain management, HSE, and external affairs in both the energy and hard rock mining industries.

Sandy is a non-executive director and chair of the safety and sustainability committee of FTSE 250-listed Diversified Gas & Oil plc.  Since January 2020, Sandy has served on the board of directors of Trans Mountain Company, a Canadian Crown Corporation, and she became chair of its EHS committee in late 2020.  In October 2020, she joined the board of Lucid Energy, a PE-backed, diversified energy company and she serves as chair of its ESG committee.  Sandy serves in an advisory capacity and as a director for several not-for profits and privately-held, community firms.  She is also a member of the board of governors of the Colorado School of Mines.

Martin Andersson, Executive Chairman of Chaarat, commented: "Sandy brings decades of experience in the energy and hard rock mining industries, particularly in ESG matters.  I am delighted to welcome her to the Chaarat board which now includes five independent non-executive directors."

- ends -

About Chaarat

Chaarat is a gold mining company which owns the Kapan operating mine in Armenia as well as Tulkubash and Kyzyltash Gold Projects in the Kyrgyz Republic. The Company has a clear strategy to build a leading emerging markets gold company with an initial focus on the Former Soviet Union through organic growth and selective M&A.

Chaarat is engaged in active community engagement programmes to optimise the value of the Chaarat investment proposition.

Chaarat aims to create value for its shareholders, employees and communities from its high-quality gold and mineral deposits by building relationships based on trust and operating to the best environmental, social and employment standards. Further information is available at www.chaarat.com/.

Further information relating to the director appointment

Ms Sandra (Sandy) Stash (aged 61) has confirmed that, other than the information disclosed below there are no matters to be disclosed under Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules.

Current directorships/partnerships:

Diversified Gas & Oil PLC

Diversified Energy Company Ltd

Trans Mountain Corporation

Lucid Energy Group, LLC

First Montana Bank, Inc.

Colorado School of Mines (board of governors)

International Women's Forum, Washington DC

Previous directorships/partnerships held in the last five years:

Montana Tech Foundation

The Pointe at Georgetown LLC

Shareholding in the Company:

None