Emerald Resources NL announced that Mr. Simon Lee AO has stepped down as Chair of the company's Board effective immediately. Current Non- Executive Director Mr. Jay Hughes has been appointed Chair of the Board and Mr. Lee will remain as a Non-Executive Director. Mr. Lee joined the Company's Board as inaugural Chair in 2014 and his leadership has been instrumental in setting Emerald on the path to being a gold producer with operations in Cambodia and Australia.

Paying tribute to Mr. Lee, Mr. Hughes said that Mr. Lee has been a highly respected, influential presence in the business scene for over four decades with an extraordinary life in business, philanthropy and as a community leader both in Australia and Asia. Mr. Lee brought his extensive experience across a diverse range of business enterprises to Emerald and his understanding of Asian markets had been central to the success of the Cambodian operations. 'Simon's career has been to say the least diverse, starting out as a teacher in Malaysia in the 1960s, before joining car battery maker Union Carbide while he saved to study accountancy in Perth.

'At an early stage in his career Simon's entrepreneurship shone through, and in 1973 he joined a friend staging events throughout Asia. In 1976, he started his own trading company in Hong Kong, operating a fleet of barges and tugs,' Mr. Hughes noted. However, it was his first foray into the gold industry in 1985 when he took control at Great Victoria Gold with operations near Marvel Loch, that has seen Mr. Lee's long association with precious metals.

He then as Chairman led the growth of the successful ASX miners Samantha Gold NL and Equigold NL. Mr. Lee continues to positively contribute to the wider community as one of the first individuals in Western Australia to set up a privately funded foundation (The Simon Lee Foundation) that has helped many charitable groups and individuals in the health and arts fields over the decades. As patron of the Western Australian Chinese Chamber of Commerce Mr. Lee has also made a lasting and very significant contribution to Western Australia.

Since joining Emerald Resources Mr. Lee has overseen the successful development of the Okvau Gold Project in Cambodia, and most recently the acquisition of Bullseye Mining Limited. Mr. Hughes has an extensive career in the stockbroking and funds management industries. He was a founding Director of Euroz Limited and he was most recently an Executive Director of Euroz Hartleys Group Limited.

He is Non-Executive Chairman of Westoz Funds Management Pty Ltd. and Westoz Resources Fund Limited. He was the Non-Executive Chairman of Westoz Investment Company Limited and Ozgrowth Limited until the successful completion of their takeover schemes in April 2022. He joined Emerald's Board in 2022.