SYDNEY, AUSTRALIA: Geopacific Resources Ltd (ASX: GPR) advises that Mr Tim Richards has resigned as Chief Executive Officer of the Company effective 1st January 2023. The Board has commenced a search for a new Chief Executive Officer.

In the interim period between Tim’s departure and commencement of his permanent replacement, Non-Executive Director Richard Clayton will act as Interim CEO, working closely with Chief Financial Officer Matthew Smith.

Richard has over 20 years of mining sector experience covering technical, advisory, and financial roles. He currently operates a consultancy practice, providing advisory services to mining companies and financial services providers including study management, business development and due diligence reviews.

Richard was previously at Investec Bank plc, where he had leadership responsibility as Australia desk head within the Global Resources team and ultimate responsibility for all technical due diligence assessments across the resources sector for Investec.

Prior to Investec, Richard was a Principal Consultant at SRK Consulting specialising in Mineral Resource Estimation and Project Evaluation. He headed up the Sydney Geology team and was a member of the Practice Leadership Group at the firm. In this role Richard managed multi-disciplinary due diligence and valuation teams delivering resource estimation and reviews to a range of clients internationally, including Competent Person sign-off.

Chairman, Andrew Bantock commented: “On behalf of the Board, I would like to thank Tim for his service as Chief Executive Officer and we wish him well for the future. Geopacific is fortunate to have a professional with the depth of industry experience and skills of Richard Clayton to act as Interim CEO. Under Richard’s leadership we will continue to advance the major workstreams to re-evaluate the Woodlark Project as previously announced.”