GBM Resources Limited advised that Non-Executive Chairman Mr. Peter Mullens has tendered his resignation as a director of the Company due to increasing other work commitments. Peter's resignation will take effect from June 30, 2023. Following Peter's resignation becoming effective, Mr. Sunny Loh, who is currently Deputy Chairman will assume the role of Non-Executive Chairman of the Company.

The board will remain supported by Stephen Nano who was appointed Senior Advisor, Technical and Business Development in February 2020 and Mark Lindsay, GBM's Chief Geologist. Stephen Nano brings over 30 years of industry experience as well as an extensive network from his international career as a successful exploration geologist. He has previously held senior technical and management positions with major precious and base metal companies including Newmont, Newcrest and MIM.

Mr. Nano's geological expertise extends to a wide range of gold and base metal mineralisation types spanning the Americas, central Asia and the Asia-Pacific regions. Mr. Nano is a Fellow of the AusIMM, Member of the SEG and Member of the AICD. Dr. Mark Lindsay brings over 25 years of international gold and copper exploration experience managing multi-faceted exploration programs across a wide range of deposit types.

He has a track record of discovery success and resource growth through application of integrated geological analysis and recognition of opportunities for adding ounces to existing resources. He has held senior roles with Oxiana in Laos, Newmont in PNG, Resolute in Queensland and managed a privately funded junior explorer in PNG. Mr. Lindsay is a fellow of the SEG and Member of the AIG.