Message to all readers

This Code of Conduct is endorsed by Crew Gold Corporation’s Board of Directors and Executive Management. It applies to all directors, officers and employees of the Corporation and every entity it owns and controls.

Only Crew Gold’s Audit Committee has the power to waive the application of any of the principles and rules set out in this Code of Conduct and any waiver made will be disclosed promptly and publicly.

Crew Gold is committed to upholding and enforcing the spirit and the letter of this Code and will reconsider its dealings with any entity that does not match it in terms of integrity.

Current employees and new employees of Crew Gold should familiarise themselves with this Code and report to their supervisor or senior manager if they need any of its provisions to be clarified.