CORPORATE GOVERNANCE

Abyssinian Gold Limited (the Company) is committed to maintaining the highest standards in corporate governance throughout its operations and to ensure all of its practices are conducted transparently, ethically, and efficiently.

The Company believes scrutinising all aspects of its business and reflecting, analysing, and improving its procedures will result in the continued success of the Company and improve shareholder value.

In an effort to uphold robust systems of corporate governance, the Company periodically reviews its governance charter to ensure a high level of corporate governance is maintained at all times.

The Company has established specific committees and implemented certain policies, to ensure that:

1. it is led by an effective Board which is collectively responsible for the long-term success of the Company;
2. the Board and the committees have the appropriate balance of skills, experience, independence, and knowledge of the Company to enable them to discharge their respective duties and responsibilities effectively;
3. the Board establish a formal and transparent arrangement for considering how it applies the corporate reporting, risk management and internal control principles and for maintaining an appropriate relationship with the Company’s auditors; and
4. there is a dialogue with shareholders based on the mutual understanding of objectives.

The Board have collective responsibility and legal obligation to promote the interests of the Company and are collectively responsible for defining corporate governance arrangements. Ultimate responsibility for the quality of, and approach to, corporate governance lies with the Board.