Magnum Mining and Exploration Limited announce the following changes to the Board effective 11 May 2022. Mr. Anoosh Manzoori appointed as Non-Executive Chairman and Mr. Athan Lekkas appointed Non-Executive Director. Mr. Manzoori has extensive investment and corporate advisory experience across many industry verticals.

His experience includes equity capital markets, public and private M&A in Australia, and North America. Mr. Manzoori has many years of investment experience having advised many cross- border transactions between Australia, Canada and USA. Mr. Lekkas has many years of investment banking experience and has advised on numerous cross border transactions including capital raisings, funding and structuring of acquisitions, joint ventures overseas and participated in a broad range of business and corporate advisory transactions.

Magnum also announced that Mr. Don Carroll has resigned from his position as non-executive chairman. As part of the restructure of the board, Mr. John Dinan has resigned from the board and will remain as the Company Secretary. Mr. Dano Chan has also resigned from the board and will consult to the Company until a new CEO has been appointed by the Company.