Macarthur Minerals Limited announced that effective 1 September 2022, Alan Joseph Phillips will step down as the Company's Chief Executive Officer. Executive Chairman Cameron McCall will also assume the role of Chief Executive Officer. With effect from the conclusion of the annual general meeting of the Company to be held on 31 August 2022, Mr. Phillips will retire as Managing Director.

Mr. Phillips role in Macarthur has traditionally been focused operationally to progress Lake Giles to the advanced stage it is on August 18, 2022. He was the investor who negotiated to acquire Ken Talbots Macarthur share block in 2009 and has since been a frequent financial supporter and advocate of the Company. First engaged in 2009 as Project Manager, moving onto the COO role, CEO and eventually as Managing Director, he has overseen a 1.3 million tonne resource delineation along with three Preliminary Economic Assessments for the magnetite and hematite resources, a Pre-Feasibility Study for the hematite resource and the Feasibility Study for the magnetite resource and on to the current stage as the project moves towards the engagement of Strategic Partners to deliver the project along with finalisation of the debt financing.

Mr. Phillips is side stepping from Macarthur, to make way for new skill sets necessary for the Macarthur Board to deliver this final development and production stage. Moving forward, he will be advising the Macarthur Strategic Sub-Committee and will remain as the Executive Chair of Infinity Mining Limited to enable him to concentrate on the development of Infinity, a company that has some very exciting lithium projects in the Pilbara to which Macarthur is a significant holder with 21.65% interest. Mr. Phillips and his various companies remain a major shareholder in Macarthur and is very motivated to realise value from this investment.