Catalyst assembles highly experienced management team

New management team appointed to rejuvenate Plutonic Operations

Key Points

• Key new management appointments at Plutonic
• Appointees already yielding positive operating results
• Team's focus is on improving the basic operating key performance indicators such as material moved, development and mill throughput. Through this focus, gold production is expected to increase and costs to fall

PERTH, Sept. 20, 2023 - Catalyst Metals Ltd. (Catalyst) (ASX: CYL) is pleased to announce the appointment of a new management team at the Plutonic Gold Operations (Plutonic). This new team has assumed the key management roles at Plutonic. The change in personnel has now been in place for several months and is starting to deliver improved results.

Key appointments are:

In addition to these Plutonic-focused appointments, the Company is pleased to introduce Cathy Barclay as Group Manager, Mine Planning and Technical Services.

Catalyst's Managing Director & CEO, James Champion de Crespigny, commented:

"The calibre of this team is a testament to the inherent quality and potential of the Plutonic operations, and those people that work there. These names will be familiar to many in the industry. They bring decades of experience. All operations have challenges and a team of this calibre know how to manage and handle such challenges.

"The team has been working together since early July. The changes being implemented are bearing results. All workforces want to be proud of their results and with this team we believe we have the leadership required to make Plutonic a success."

David Baumgartel has been appointed Plutonic General Manager, overseeing the entirety of the Plutonic Gold Belt.

David has over 20 years of commercial and operational experience in open pit and underground mines. He has been a General Manager of multiple operations including Darlot UG in Western Australia, Jabal Sayid UG Mine in Saudi Arabia, Lumwana in Zambia, Runruno in Philippines and most recently, Gascoyne Dalgaranga. He was also formerly the Global VP Supply Chain and Maintenance for Barrick.

Mick Garbellini has been appointed Group Operations Manager covering the Plutonic Gold Belt.

Mick has 32 years of mining experience both within Australia and internationally. He has worked throughout the Western Australian goldfields and more recently, for the past 10 years, has been the Vice President and Senior Mine Manager of Freeport Grasberg Block Cave Mine in Indonesia managing 20,000 employees across multiple underground mines running simultaneously.

Mark Day has been appointed Manager Mining at Plutonic.

Mark has 30 years of underground mining operations experience in Western Australia which ranges from Frontline Jumbo through to project managing operations of 350 employees. Mark is experienced in building strong teams by engaging each individual, to realise their full potential within the organisation and has a proven ability to rapidly turn-around underground operations, greatly increasing their safety and overall performance.

In addition, the Company has contracted experienced geology consultant Ted Coupland as a Senior Advisor to the Board.

Ted has over 30 years of experience in the mining, exploration and resource finance industry and holds qualifications in geology, geostatistics, mineral economics and finance. Ted has had a comprehensive technical career in the resources sector covering exploration, mine geology, resource estimation, risk analysis, resource consulting and business management.

The Company would also like to introduce Cathy Barclay as Group Manager, Mine Planning and Technical Services. Cathy is key to the Company's growth strategy and supporting the new transition team. Cathy has a career spanning more than 25 years in the mining industry, across a range of operational, technical, consulting, management and corporate roles. Cathy's has experience in underground and open-pit operations, and greenfield exploration across a number of countries.

This announcement has been approved for release by the Board of Directors of Catalyst Metals Ltd..

Catalyst Metals controls three highly prospective gold belts. It has a multi asset strategy. It owns the 40km long Plutonic Gold Belt in Western Australia hosting the Plutonic gold mine and neighbouring underexplored, high-grade resources.

It also owns and operates the high-grade Henty Gold Mine in Tasmania which lies within the 25km Henty gold belt. Production to date is 1.4Moz @ 8.9 g/t.

Catalyst also controls +75km of strike length immediately north of the +22Moz Bendigo goldfield and home to high-grade, greenfield resources at Four Eagles.

Shares o/s: 219m
Options: 1.4m
Rights: 2.5m
Cash: $31.8m
Debt: $32.8m

Robin Scrimgeour
Interim Non-Executive Chairman

James Champion de Crespigny
Managing Director & CEO

Bruce Kay
Non-Executive Director

ASX: CYL
E: admin@catalystmetals.com.au
W: catalystmetals.com.au
T: +61 8 6107 5878

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SOURCE Catalyst Metals Ltd.