Balkan Mining and Minerals Limited advise that highly experienced mining executive Karl Simich has agreed to join the Company's Board as a Director, tasked with a particular focus on strategy, corporate development and growth. Mr. Simich stepped down as Managing Director of Sandfire Resources at the end of September 2022, after 15 years at the company's helm, having overseen its transformational growth from a junior micro-cap to a successful mid-tier producer with a global footprint. He is familiar with the Balkan Mining team and assets from his time at Sandfire, which helped incubate the Company as part of its Sandfire Ventures investment division.

Mr. Simich has more than three decades of experience with publicly listed mining and exploration companies and brings a wealth of strategic and corporate knowledge, including in exploration, resource development, mine financing, development, operations and M&A across multiple jurisdictions. As a Director of Balkan Mining, he will provide input and advice on strategy, corporate and business development and stakeholder relations. Mr. Simich has 36 years' experience with publicly listed mining and exploration companies on the ASX, TSX and LSE, most recently as the founder, Managing Director and CEO of Sandfire Resources between 2006 and September 2022.

During this time, he guided Sandfire through the discovery, financing, development and successful 10-year operation of the highly profitable DeGrussa Copper Operations in Western Australia. He also oversaw the implementation of Sandfire's international expansion strategy to become a globally significant copper miner, including the US$1.865 billion acquisition of the MATSA copper operations in Spain. At the end of his tenure, Sandfire had mining operations and development projects spanning three continents.

Throughout his career, Mr. Simich has overseen the financing and development more than 10 mines in Australia, New Zealand and Africa, including base, precious and industrial metals spanning small to large-scale open pit, underground and alluvial operations. Prior to his role with Sandfire, Mr. Simich held senior leadership positions with Churchill Resources, Union Gold Mining, Macraes Mining (now Oceania Gold), Kimberley Diamonds, Namakwa Diamonds and Blina Diamonds.