Tesoro Resources Limited announced on 29 January 2020 and following completion of the Acquisition, Mr. Cameron Williams and Mr. Peter Ruse have formally resigned from the Board. They have been replaced by Mr. Zeffron Reeves as Managing Director and Mr. Geoff McNamara as non-executive director. The material terms and conditions of Mr. Reeves' and Mr. McNamara's appointment have been summarised in the Company's prospectus dated 29 October 2019. Additionally, Ms Charly Stephens (nee Duffy) has formally resigned as Company Secretary following completion of the Acquisition and has been replaced by Ms Shannon Coates. Mr. Reeves, a founder of Tesoro, is a geologist with over 20 years of experience in the resources sector working on resource projects from greenfield exploration, discovery, definition and feasibility, construction, production to closure. He was most recently Managing Director of ASX listed Metallum Ltd. which had a number of development and operational projects in Chile. He has also held senior management positions with Cleveland Mining Ltd. and Ashburton Minerals Ltd, developing projects in Brazil. The Board does not consider Mr. Reeves will be an independent director. Mr. McNamara, a founder of Tesoro, is a geologist with over 25 years of resource sector experience, holding operational roles including Project Manager, Senior Mine Geologist and Mine Geologist for Ivanhoe Mines, LionOre International and Western Mining Corporation. A Partner at investment manager and advisor Medea Capital Partners, he was previously an owner and Investment Director of private equity firm Pacific Road Capital. Prior to this he was a Director of Société Generale's Mining Finance group in New York. He is Non-Executive Chairman of Alliance Mineral Assets Ltd., and Cora Gold Ltd. The Board does not consider Mr. McNamara will be an independent director.