Directorate Change

Capital Metals (AIM: CMET), a mineral sands company approaching mine development stage at the high-grade Eastern Minerals Project in Sri Lanka (the "Project"), is pleased to announce the appointment of Bruce Griffin as a Non-Executive Director, with immediate effect.

Mr Griffin has been appointed further to the notification of 15 March 2024 in respect of the strategic acquisition by Sheffield Resources Limited (ASX: SFX) ("Sheffield") of approximately a 10% stake in the Company. Mr Griffin is a nominee director of Sheffield.

Mr Griffin is an experienced resources industry professional with a significant background within mineral sands. He is currently Executive Chair of Sheffield, the 50% owner of the recently commissioned A$484 million Thunderbird mineral sands mine in Western Australia. Mr Griffin is also a Non-Executive Director of Savannah Resources PLC (AIM: SAV), CVW CleanTech Inc (TSX: CVW) and Mawson Gold Limited (TSX: MAW). He has previously held several Chief Executive and senior management roles with mineral sands and titanium dioxide pigment companies, including at LB Group, TZ Minerals International (TZMI), and BHP. Other prior roles include executive, commercial, strategy and management consulting positions and a nine-year career with Shell. Mr Griffin holds undergraduate degrees in chemical engineering and economics, as well as a Master of Business Administration. He has previously acted as a consultant to Capital Metals through Fairview Solutions Limited.

Greg Martyr, Executive Chairman of Capital Metals, commented:

"We are delighted to welcome Bruce to the Board following Sheffield's strategic investment in the Company and interest in providing funding to support the development of the Project into production. Bruce is well respected throughout the global mineral sands industry and recently played a key role in bringing Thunderbird, one of the largest and highest-grade mineral sands discoveries in the last 30 years, into production in Western Australia. This, coupled with his decades of experience within mineral sands and the wider resources industries, will be valuable to Capital Metals as we plan for mine construction, and introduce modern mining practices to Sri Lanka's developing mineral sands sector."

Bruce John Griffin (aged 55) holds or has held the following directorships or partnerships in the past five years:

Mr Griffin holds 800,000 ordinary shares in the Company via Fairview Solutions Limited. Sheffield Resources Limited, for whom Mr Griffin acts as nominee director, holds 34,500,000 ordinary shares in the Company.

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