Catalyst Metals Limited (Catalyst or the Company) (ASX: CYL) announces that the Board has commenced a transition plan.

As part of this transition Non-Executive Chairman Stephen Boston has advised the Board of his intention to retire from the Board of Directors.

Mr Boston's tenure as Chairman has led the transformation of Catalyst from a junior explorer to that of a new mid-tier Australian gold producer. Mr Boston has played a pivotal role in growing the company from a fledgling exploration company to a larger more stable gold producer.

This involved securing support from key investors such as Hancock Prospecting Pty Ltd and St Barbara Ltd to support Catalyst's exploration efforts in Bendigo, numerous financings at different points in Catalyst's life, the acquisition of the Henty Gold Mine, the formation of a new managementteam and ultimately the consolidation of the Plutonic Gold Belt. Through each step, Mr Boston has progressively sought to increase the size and capability of Catalyst in the hope of giving Catalyst shareholders every opportunity to realise the maximum potential possible that Catalyst believes lies beneath the Catalyst controlled Bendigo Goldfields. The Catalyst Board commented: 'On behalf of shareholders, we thank Mr Boston for his leadership over the past 14 years. It is no secret Steve has made a significant contribution to Catalyst. Always with shareholders' interests in mind, he has sought to build a company that can manage the trials and tribulations of this often challenging industry. Steve has long recognised that as Catalyst continues to grow, it is important to ensure the Board has the appropriate balance of experience for its future.'

Mr Boston said: 'It has been very pleasing to be involved in the transformation of Catalyst over the past 14 years. Catalyst has progressed from an exploration company to a now diversified gold producer with a pipeline of development and growth opportunities. I look forward to working closely with the new Chairman to effect a smooth transition.'

Contact:

Tel: +61 400 466 226.

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