Ann: Appointment of New Chairman, page-8

ASX ann on new chairman 15 Jun

“Cobalt is the “must have” metal of the future, and I am pleased to be heading up Clancy with its new push in to this very
important and exciting market sector. Cobalt is very important these days and Clancy’s Leogang cobalt assets in Austria,
which I visited this week, are completely unexplored using modern techniques. There is a lot of work to be done on this
project from here, and its great to be operating in a country like Austria that has a long and established mining culture.
Going forward we are well funded to commence the first stages of what will be an intensive exploration program and I
look forward to updating our shareholders as we move this project forward.”


Mr Lenigas is an experienced mining engineer with significant natural resources and corporate experience, having served
as executive chairman, chairman, and non‐executive director of many public listed companies in London, Canada,
Johannesburg, and Australia.


In recent years, Mr Lenigas was the Executive Chairman of London listed lithium investment company Rare Earth Minerals
Plc (now called Cadence Minerals Plc), which is the largest shareholder of Bacanora Minerals Limited and European
Metals Holdings Limited, and has provided significant funding for the development of the large Sonora Lithium Project in
Mexico and the Cinovec Lithium Project in the Czech Republic. He is currently a non‐executive director of Canadian listed
Australian company Macarthur Minerals Limited, whose major shareholder is Cadence Minerals Plc.

Mr Lenigas is currently the Executive Chairman of Artemis Resources Limited, Doriemis Plc, and AfriAg plc and a nonexecutive
director of Auroch Minerals Limited. Mr Lenigas was also the previous Executive Chairman of London listed UK
Oil & Gas Investments Plc, the company that discovered the oil at London’s Gatwick Airport and the Executive Chairman
of the Pan‐African conglomerate Lonrho Plc.

Mr Lenigas has a Bachelor of Applied Science (Mining Engineering) (Distinction) from Curtin University’s Kalgoorlie School
of Mines and holds a Western Australian First Class Mine Manager's Certificate of Competency.
The Company has agreed as part of his appointment to the Board to issue Mr Lenigas 100,000,000 unquoted options
exercisable at $0.004 per option for each share on or before 31 May 2020. An initial director’s interest notice (Appendix
3X) has been lodged separate to this release.