Directorate Change

Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing mineral company, is pleased to update shareholders on proposed changes to Board composition.

The Company intends to appoint both Mr Charles Manners and Mr Mark Burnett to the Board of SML, subject to the completion of regulatory due diligence. Mr Manners is the beneficial holder of approximately 4.8% of the Company's issued share capital and Mr Burnett, of RAB Capital, represents Philip Richards who holds approximately 4% of the Company's issued share capital.

Mr Manners has been the largest shareholder in SML for a number of years. He worked in Investment Banking from 1985 until 2009, latterly as a Senior Managing Director and Head of Fixed Income Sales at Nomura International PLC. From 2009 to 2016, he was a co-founder and partner in an advisory firm, focussed on tailored structured solutions. He was a Non-Executive Director of Asset Trust Housing Association Limited, a regulated provider of affordable shared ownership housing, and is a Director and Chairman of the Board of Campden Charities. In addition, he is an extensive investor, focussed primarily on natural resources , healthcare and real estate.

Mr Burnett is Director of Mining Investments at RAB Capital, a leading mining specialist investor in London, with over 10 years investing and corporate finance experience in extractive industries across North America, Australia and Europe. He is Interim-Chair of a critical metals company operating in Africa and a Non-Executive Director of a critical metals company operating in the USA.

With these two proposed appointments, the Board has decided not to proceed with the appointment of of Mr. Jonathan (Jon) Reynolds as a Non-Executive Director of the Company, as announced on 16 July 2024.

It is the Board's intention that, once appointed, Charles Manners will be appointed Chairman of SML.

John Peters, Managing Director of Strategic Minerals Plc, said:

"I am pleased to see the involvement of major shareholders in the active management of the Company and both Peter Wale and I look forward to working closely with both Charles and Mark in the future.

"In light of these proposed appointments, the Board does not consider it appropriate to continue with the proposed appointment of Mr Jon Reynolds but would like to thank him for consenting to be considered as Technical Director."