20 October 2008

Zambezi Resources Limited

Board Changes

Zambezi Resources Limited ('Zambezi' or the 'Company') (AIM: ZRL; ASX:ZRL) announces that Mr Jeremy Wrathall has resigned from the board of directors of the Company, effective from 17 October 2008. Mr Wrathall has been with the Company since its admission to the AIM Market of the London Stock Exchange in July 2004. The board would like to sincerely thank Mr Wrathall for his contributions over the past four years to the Company and wish him well in his future endeavours.

Zambezi would also like to announce that as a result of relocation to Adelaide for family reasons, Mr Geoffrey Johnson will no longer be able to contribute to progressing the existing projects of the Company on a full time basis. The board of Zambezi have agreed that Mr. Johnson will therefore change status from executive director to non-executive director. Mr Johnson continues to be available as a consultant to the Company. 

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