SYDNEY, AUSTRALIA: Vanadium Resources Ltd (ASX:VR8) has appointed highly experienced mining executive and financier John Ciganek, as Managing Director and Chief Executive Officer effective from 9 January 2023.

John Ciganek will remain as a Non-Executive Director until the effective date.

Mr Jurie Wessels, Executive Chairman of VR8 commented: “We are very pleased to have obtained the services of someone of the calibre of John Ciganek to lead the Company’s operations through the upcoming milestones of procuring debt and equity funding, arranging suitable off-take and attaining important objectives during the expected construction process. John’s wealth of experience, of which has included projects in South Africa and elsewhere in Africa, and his fine skillsets are eminently suited for what the Company requires on its pathway to construction and becoming a producer.

I also wish to thank Eugene Nel, who has served as CEO for close to 2 years, for his efforts in completing the DFS in time and on budget. On behalf of the Board, I wish him the best of success for the future, which may include seeing him back on the team very soon when positions become available in building out the executive team.”

Mr Ciganek will replace Mr Eugene Nel, who has stepped down as Chief Executive Officer from the 9 December 2022, fulfilling his mandate of successfully steering the Company in completing its PreFeasibility Study (PFS) and Definitive Feasibility Study (DFS). It is expected that Mr Eugene Nel will apply for a position in VR8’s Owner’s Team, which will take the Steelpoortdrift Project through the required initial workstreams to get the project shovel-ready, and then to nameplate production and beyond.

John Ciganek brings a wealth of mining, project funding, development and operational expertise to VR8. He is a qualified Mining Engineer, holds a Master of Business Administration and has more than 30 years of mining and finance experience.