Appointment of Ivan Fairhall as new Managing Director, other Board Changes

Pivotal Metals Limited (ASX:PVT) (‘Pivotal’ or the ‘Company’) is pleased to announce that Ivan Fairhall has today been appointed Chief Executive Officer (CEO) and Managing Director (MD).

Highlights

• Appointment of experienced mining executive, Mr Ivan Fairhall, as MD.
  • Previously Executive Director and CEO of TSX listed Mawson Gold, and prior to that was Senior Investment Manager at the mining private equity fund Greenstone Capital.
  • Chartered Engineer with strong technical pedigree in development stage mining projects.
  • Mr Fairhall will be primarily based in Brisbane, Australia.
• This critical appointment reflects Pivotal’s commitment to expanding and developing the Horden Lake Cu-Ni-PGM deposit, unlocking the exploration potential at the high-grade BAGB project and substantially lifting the Company’s ASX investor profile.
• The Company has $5.5m cash¹ for its exploration, drilling and project development work programs on its projects.

Mr. Fairhall holds a B.Eng (Hons, Mech) and a B.Bus, and is a Chartered Engineer with the Institute of Mechanical Engineers. He is currently a non-executive director of ACDC Metals Ltd (ASX:ADC), and resides in Brisbane, Australia.

Mr Fairhall will be focused on market engagement and overseeing the progression of the Company’s portfolio of Canadian copper/nickel exploration and development opportunities, including the flagship Horden Lake project which hosts a JORC compliant resource of 27.8 mt @ 1.49% CuEq². Mr Fairhall will be supported by Pivotal’s Executive Operations Manager in Quebec, Mr Eddy Canova (refer announcement 25 July 2023).

Chairman Simon Gray said:

“Ivan Fairhall’s strong technical, operational and financial experience in mining exploration and development is the perfect mix for our next CEO. I am confident his discipline and focus will deliver an acceleration on the Company’s key Canadian projects and he will seize the opportunity that lies ahead. The passion he has displayed for advancing those projects gives the Board great confidence he and the Company will do so.”

Mr Fairhall added:

“I’m delighted to be appointed as CEO of Pivotal at this exciting juncture and to have the opportunity to deliver on the exploration and development milestones that should underscore the scale, quality and enormous value of the Company’s assets.

Having recently visited the Canadian projects sites, I was impressed by the ease of access and large number of significant mines and deposits nearby. The projects benefit greatly from the financial and jurisdictional support of the Quebec government, as evidenced by its flow-through share scheme, providing a tremendous platform to progress each asset. Pivotal possesses all the attributes I would look for as an investment manager and am therefore very excited to work with the Board and staff in developing those assets to grow shareholder value.”

The key terms of Mr Fairhall’s engagement are outlined in Annexure A.

Other Board Changes

Mr Steven Turner resigns today as CEO and is appointed as a Non-Executive Director (NED) to the Board, while Mr Ashley Hood resigns today as Non-Executive Director.

Chairman, Simon Gray noted:

“We would like to recognise the contributions of both Steven Turner as CEO of Pivotal and Ashley Hood as long- serving NED. Under Steven’s leadership, Pivotal acquired its key Canadian assets and led the funding for their advancement. Consequently, the Company now has a focused strategy to develop value for shareholders and we welcome Steven to the Board as a NED which will also assist in an orderly transition. The Board also wishes to thank Ashley Hood for his service to the Company, particularly his time spent assisting in Canada, and wish him well in his future endeavours.”

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