The board of directors (the "Board") of Golden Resources Development International Limited announced that, with effect from 18 April 2023, Mr. Laurent LAM Kwing Chee ("Mr. LAM"), currently the Chairman of the Board, an executive director of the Company, has been appointed as the Group Executive Chairman of the Company and Mr. LAM shall continue to serve as the Chairman of the Board and executive director of the Company. Mr. LAM, aged 76, graduated from the Eastern Illinois University, U.S.A. with a bachelor degree in Economics and History. After graduation in 1971, Mr. LAM established a company to manufacture fiberglass products and a direct marketing business in Hong Kong.

Mr. LAM joined the Group in 1982 with responsibility in Product Marketing Strategy and Business Development. He has extensive business experience in the property development and investment in Hong Kong, North America and Asian countries. Mr. LAM was the co-founder of the Golden Resources Group, listed in The Stock Exchange of Hong Kong Limited since 1991.

After election as the Chairman of the Board in 2016, he took the integral part to oversee and renew strategic plan to strengthen the Group rice business and continue driving the expansion of Circle K convenience stores in Vietnam. Currently Circle K is the market leader of convenience stores in Vietnam in terms of store number and brand awareness. Save as disclosed above, Mr. LAM does not hold any position with the Company or other members of the Group.

Mr. LAM did not act as director in any other listed companies, the securities of which are listed on any securities market in Hong Kong or overseas in the last three years.