Patagonia Gold Appoints New Chairman

TORONTO, Jan. 10, 2013 /CNW/ - Patagonia Gold Plc (TSX: PAT, AIM: PGD) today announced the retirement of Sir John Craven as Chairman of the Board and as a non-executive director of the Company.  He has been succeeded as Chairman by Carlos Miguens, the Deputy Chairman.

It is intended that additional appointments will be made to the Board over the coming months and further announcements will be made as appropriate.

Commenting on this announcement, Mr. Miguens said:

"On behalf of the Board, my family and myself, I would like to express my sincerest appreciation for Sir John Craven's contribution to Patagonia Gold as Chairman.  We are deeply grateful for his valuable support and guidance throughout these past years, he was key to building the company we have today.  Sir John became a close friend and advisor throughout this time and we will miss his presence.  I wish him all the best in his future personal and professional endeavours."

About Patagonia Gold

Patagonia Gold Plc is an advanced mining exploration company that seeks to grow shareholder value through the acquisition, exploration and development of gold and silver projects in the southern Patagonia region of Argentina. The Company is primarily focused on the development of three projects: the flagship Cap-Oeste project, the nearby COSE project and the Lomada heap leach project, which is expected to begin generating free cash flow by 2013. Patagonia Gold, indirectly through its subsidiaries or under option agreements, has mineral rights to over 220 properties in several provinces of Argentina and Chile, and is one of the largest landholders in the province of Santa Cruz.

Patagonia Gold is listed on the Toronto Stock Exchange (TSX) under the symbol PAT and has been listed on the AIM market of the London Stock Exchange under the symbol PGD since 2003.

www.patagoniagold.com

SOURCE Patagonia Gold plc