Castillo Copper Limited Board Changes (4844P)

TIDMCCZ

RNS Number : 4844P

Castillo Copper Limited

10 October 2023

CASTILLO COPPER LIMITED

("Castillo", or the "Company")

Board Changes

Castillo Copper Limited (LSE and ASX: CCZ), a base metal explorer primarily focused on copper across Australia and Zambia, has accepted the resignation of Managing Director Dr Dennis Jensen which comes into immediate effect. Dr Jensen is leaving the group of his own accord to take up a new business opportunity.

To ensure continuity of leadership, the Board has appointed Mr Jack Sedgwick as the interim Executive Director to assume responsibility for day-to-day operations and strategic intent.

In the coming weeks, the Board will be reviewing the asset portfolio and prioritising strategic forward plans against a very challenging macro environment.

Further updates will be released in due course.

Ged Hall, Chairman of Castillo Copper, said: "Dr Jensen has led the group during a difficult period, with exogenous challenges impacting the industry and core business. The Board appreciates Dr Jensen's dedication and contribution to the business and wishes him well with the new business opportunity. Moving forward, the Board is highly optimistic about prospects and looks forward to working closely with Mr Sedgwick to progress the group's strategic agenda."

Employment terms (revised): Mr Jack Sedgwick

-- As interim Executive Director, Mr Sedgwick will receive a higher duties allowance of $60,000 per annum (inclusive of superannuation), which is pro-rata for the term of his appointment

   --    Otherwise, all of Mr Sedgwick's employment terms remain unchanged

For further information, please contact:

 
Castillo Copper Limited                     +61 8 6558 0886 
Gerrard Hall (UK), Chairman 
 
SI Capital Limited (Financial Adviser and 
 Corporate Broker)                          +44 (0)1483 413500 
Nick Emerson 
 
Gracechurch Group (Financial PR)            +44 (0)20 4582 3500 
Harry Chathli, Alexis Gore, Henry Gamble

About Castillo Copper

Castillo Copper Limited is an Australian-based explorer primarily focused on copper across Australia and Zambia. The group is embarking on a strategic transformation to morph into a mid-tier copper group underpinned by its core projects:

-- A large footprint in the Mt Isa copper-belt district, north-west Queensland, which delivers significant exploration upside through having several high-grade targets and a sizeable untested anomaly within its boundaries in a copper-rich region.

-- Four high-quality prospective assets across Zambia's copper-belt which is the second largest copper producer in Africa.

-- A large tenure footprint proximal to Broken Hill's world-class deposit that is prospective for zinc-silver-lead-copper-gold and platinoids.

-- Cangai Copper Mine in northern New South Wales, which is one of Australia's highest grading historic copper mines.

The group is listed on the LSE and ASX under the ticker "CCZ."

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October 10, 2023 02:00 ET (06:00 GMT)

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