Capricorn Metals Ltd. announced key board and management appointments: Mr. Kim Massey has been appointed Chief Executive Officer, Mr. Paul Thomas has been appointed Chief Operating Officer, Mr. Stephen Evans has been appointed General Manager of Operations; and Mr. Myles Ertzen has been appointed to the board as a Non-Executive Director. Mr. Peter Thompson resigned as COO recently to pursue other opportunities. Having overseen the appointment of directors with significant gold mining experience and a high quality management team, non-executive directors Messrs Jendry, Kestell and Pether have resigned.

Mr. Massey brings a wealth of corporate, financial, markets and industry experience to the role of Chief Executive Officer of Capricorn. He was Chief Financial Officer of Australian gold producer Regis Resources Ltd. (Regis) for 10 years, until he resigned in May 2019. Kim oversaw Regis' financial and corporate activities and had responsibilities in investor relations, business development and strategy.

He was an integral part of the financing and development of the Duketon projects for Regis. Mr. Thomas is a qualified metallurgist with extensive operating and development experience gained in a career of over 30 years in the mining industry. During this time Paul has held a number of senior operations, executive and board roles within Australian listed gold and base metal mining companies.

Paul has recently resigned from Regis where he has been Chief Operating Officer and an executive director since 2014. He will join Capricorn after completion of his employment with Regis on 30 September 2019. In his roles at Regis Paul oversaw the development of the strong operational framework that now sees Regis consistently deliver enviable gold production and cost outcomes at the Duketon Gold Project.

Paul has various regulatory and technical qualifications in mining, processing, management and finance. Mr. Evans is an experienced operations manager having been the General Manager of the successful Moolart Well Gold Mine from March 2014 until March 2019. Under Mr. Evans' management Moolart Well was consistently in the lowest quartile of operating costs for Australian gold mining projects.

From 2012 until taking that position Stephen was Regis' Group Environmental Manager and prior to that held senior environmental and safety roles. Stephen's role will include site management of the development (non-processing plant elements) of the Karlawinda Gold Project and the establishment of the operations team in time for commissioning and hand over from the construction team. Stephen will be the Karlawinda project's General Manager when the project becomes operational.

The appointment of Mr. Ertzen as a director strengthens the mining experience of the board. Mr. Ertzen was from 2009 until December 2018 a senior executive at Regis having had project and business development roles, culminating in the role of Executive General Manager ­ Growth from which he resigned in December 2018. Prior to Regis, Myles held a number of senior operations roles for gold mining and development companies and has significant experience in the permitting, development and operations of gold projects in Western Australia.

Myles has various regulatory and technical qualifications in mining, management and finance. In conjunction with these appointments non-executive directors Mr. Doug Jendry, Mr. Tim Kestell and Mr. Stuart Pether have resigned. This is the culmination of the process commenced by the board in early July 2019 to develop an experienced, operationally focussed gold mining board and management team with the aim of maximising shareholder value through the development of the Karlawinda Gold Project.