Zambezi Resources Limited advised that Mr. Frank Vanspeybroeck, Managing Director and CEO of the company, has resigned from the Company for personal reasons, effective immediately. The company announced the appointment of Mr. Greg Bittar as a Non-Executive Director. Mr. Bittar has over 15 years investment banking and mining resource sector experience in Australia and overseas - having worked for Bankers Trust and Baring Brothers Burrows.

Following the completion of his Masters in Finance in 2000, he joined Morgan Stanley, working in London, Melbourne and Sydney.