Toubani Resources Appoints Senior Mining Executives Scott Perry and Mark Strizek to the Board of Directors

Non-Executive Directors Mr Jan-Erik Back and Mr Doug Jendry are retiring from the Board, effective today. Accordingly, the Toubani Board of Directors now consists of Danny Callow as Executive Chairman, Tim Kestell, Scott Perry and Mark Strizek as Non-Executive Directors, and Phil Russo as Chief Executive Officer and Executive Director. Mr Callow, as previously planned, will transition to Non-Executive Chairman as of 1 June 2023.

Chief Executive Officer and Executive Director, Phil Russo commented:

"The addition of Scott and Mark to the Toubani Board is testament to the unlocked potential seen in the Kobada gold project. This potential is magnified when coupled with the currently ascribed market value of the Company. On behalf of the Board, I would like to thank Jan-Erik and Doug for their guidance in repositioning the Company and wish them well in their future endeavours. I also welcome Scott and Mark and look forward to drawing from their experience going forward. Toubani's now simplified listing structure, its continued exploration momentum and current optimisation efforts to right size the project, combined with the bolstering of our Board and management team auger positively in driving Kobada forward towards realising the value in the asset for our stakeholders."

Director Biographies

Mr Scott Perry has over 25 years of international senior executive experience in the mining industry with a track record in corporate transactions, project financing and development. Previously, Mr Perry was the Chief Executive Officer & Director of Centerra Gold from 2015 to 2022, a global intermediate gold producer where he led the US$1.1 billion acquisition of Thompson Creek Metals in 2016 and the US$240 million acquisition of AuRico Metals in 2017, amongst several other corporate initiatives. Prior to joining Centerra, Mr Perry served as Chief Executive Officer & Director of AuRico Gold, leading AuRico's US$1.5 billion merger with Alamos Gold in 2015. Prior to joining AuRico Gold, Mr Perry held increasingly senior roles with Barrick Gold in Australia, the United States, and Russia & Central Asia. Mr Perry is a former Director of the World Gold Council serving as the Audit Committee Chairman. Mr Perry holds a Bachelor of Commerce degree from Curtin University, a post-graduate diploma in Applied Finance and Investment and a CPA designation.

Mr Mark Strizek is a geologist and resource industry professional with over 27 years in the mining industry with experience in gold, base and technology metal projects. Mr Strizek has worked extensively as an executive with management and Board responsibilities across Australia, West Africa, Asia and Europe. Most recently, Mr Strizek was a Director and Executive Director (2017 to 2023) of ASX-listed Tietto Minerals which went from IPO in 2018 to first gold at its 4.5Mtpa gold project in Côte d'Ivoire in January 2023, and was admitted to the ASX 300 in March 2023. Mr Strizek was previously Managing Director of Vital Metals Limited, an ASX-listed company from 2011 to 2019. Mr Strizek holds a Bachelor of Science and a post-graduate certificate in Geostatistics.

In connection with the appointments, 400,000, 400,000 and 150,000 options at an exercise price of A$0.35, expiring three years from the date of issue will, subject to shareholder approval at the Company's upcoming Annual General Meeting, be issued to Mr Perry, Mr Strizek and Mr Kestell, respectively.

This announcement was authorised for release to the ASX by the Board of Toubani Resources Inc.

For more information:

About Toubani Resources

Toubani Resources (ASX:TRE) is an exploration and development Company with a focus on becoming Africa's next gold producer. The Company has a highly experienced Board and management team with a proven African track record in advancing projects through exploration, development and into production.

www.toubaniresources.com