SYDNEY, AUSTRALIA: Vital Metals Limited announced John Dorward has resigned as a Director of the Company immediately and as CEO with three months’ notice.

In December 2022, Vital Metals announced its pivot strategy with a sharper focus on developing the Tardiff Deposit at the Nechalacho Project, and the Company will conduct an international search for a new CEO with experience that can help drive this strategy.

Last month, Vital announced a 26% increase in Mineral Resource tonnes and a 20% increase in total rare earth oxides (TREO) tonnes at Tardiff, which is now estimated to contain 1.67 million tonnes of TREO with a total mineral resource of 119.0 million tonnes at 1.4% TREO.

Vital Metals’ Interim Chairman Richard Crookes said: “John has worked with the Board and management team over the past few months to develop a new strategy for the business, which the management team will continue to implement, with a stronger focus on developing the Tardiff deposit at Necholacho. We have recently started drilling at Tardiff, as we work towards upgrading confidence in the Mineral Resource from Inferred to Indicated status with o view to extracting greater value from this world-class mineral resource. I think John for his leadership during his time in the role and wish him well in his next endeavours.”