Scotgold Resources Limited announces that Richard Gray has advised the Board of his intention to retire from his executive role with the Company but will continue to support Scotgold as a Non-executive Director. Mr. Gray, who has led the Company as CEO since October 2014 and oversaw the Company's successful transition into a gold miner and producer, will stay in his current role until 31 March 2021 to ensure an orderly transfer of his duties to Mr. Phillip Day. Mr. Day is a highly experienced senior mining executive with a career spanning over 25 years in the mining sector. The Company intends to appoint Mr. Day to the Board and as CEO of the Company as of 1 April 2021. Mr. Chris Sangster, who was formerly the founding CEO of the Company, has also tendered his resignation as Non-executive Director of the Company to pursue other business interests. Mr. Day most recently held the position Head of Technical and Operations at Pala Investments ("Pala"), an investment company focused on the mining sector whilst concurrently holding executive and non-executive positions of several of Pala's portfolio companies, namely the Chief Operating Officer and Non-executive Director at Sierra Rutile Limited and Nevada Copper Corp. Prior to Pala, Mr. Day held the position of Vice President for Process Engineering at AMEC Americas, and has also previously held operational, managerial and technical roles for BHP Billiton, WMC Resources, Minara Resources and Wiluna Gold.