EQ Resources Limited announced the appointment of experienced mining company director and mining finance executive Mr. Stephen Weir as non-executive director of the Company. The appointment was agreed between the Company and funds managed by Oaktree Capital Management, L.P. ("Oaktree"), as part of the $25 million investment in EQR by Oaktree. Mr. Weir will join the board as Oaktree's nominee director, and will also be appointed as chair of the audit and risk committee.

As Oaktree's nominee director Mr. Weir's compensation is covered by Oaktree. Mr. Weir is a former Chief Executive Officer of Magnetite Mines Ltd. Mr. Weir's prior fields of expertise and senior executive roles span the mining, industrial services, energy and infrastructure sectors. He had a 20-year career in corporate advisory with RFC Ambrian where he was a Managing Director, preceded by project finance (Bankers Trust), general management (Brambles) and construction management (John Holland Engineering).

Mr. Weir is a Sydney-based Senior Adviser and Advisory Board Member with GBA Capital and maintains membership of the Australian Institute of Company Directors.