Austral Resources Australia Ltd. advised that the Company's CEO, Steve Tambanis, and the Company, have mutually decided to not renew their consulting contract that expires on 31 July 2022. Mr. Tambanis joined the Company in July 2021 and has made a significant and valuable contribution to the commencement of mining at Anthill and initiation of Austral's exploration and development strategy. Dan Jauncey will remain as Executive Director and take on the CEO role as of 1 August 2022.

Mr. Jauncey has prior experience in this role and will be responsible for the business as a principal executive officer.