OreCorp Limited's current Chief Operating Officer Henk Diederichs will replace Mr. Yates as CEO and Managing Director as of completion of the AGM. Mr. Diederichs initially joined OreCorp as VP Project Development in 2016 and was instrumental in leading Nyanzaga through its Scoping and Pre-Feasibility Study phases. He has more than 20 years of extensive operational and project development experience in the mining industry, particularly in Africa.

Prior to joining OreCorp, Mr. Diederichs was part of the team responsible for the successful development and operation of the Lumwana copper mine in Zambia for Equinox Minerals Limited (Equinox). During his time at Equinox, Lumwana became one of Africa's open- cut copper mines at a capital cost exceeding USD 800 million before the acquisition of Equinox by Barrick Gold Corp. for USD 7 billion in 2011.

Subsequent to Equinox, Mr. Diederichs was Senior Vice President Operations for West African producer Allied Gold Corp, operating the Bonikro, Sadiola and Agbaou gold mines. Mr. Diederichs returned to OreCorp in October 2021 as Chief Operating Officer. Mr. Diederichs holds a degree in Mechanical Engineering from the University of Stellenbosch, South Africa.

The Company believes his construction and project management skillset will deliver an optimum outcome in the construction and commissioning of Nyanzaga. The Company has already appointed, and will continue to recruit other senior management personnel to work with Mr. Diederichs to build Nyanzaga. Mr. Diederichs will join the Board following OreCorp's AGM.