Caravel Minerals Ltd. announced the appointment of experienced resources industry executive Mr. Don Hyma as Managing Director, commencing November 28, 2022. Mr. Hyma has more than 30 years experience in Australia, Canada, Chile and New Caledonia in the development of numerous major projects, primarily in base metals (copper and nickel) and iron ore. Mr. Hyma's previous roles include Director Projects for Fortescue Metals Group, Technical Director at Mitsui & Co, Vice-President Projects for the Iron Ore Company of Canada and General Manager Projects for Rio Tinto Iron Ore and he held senior project management roles at Falconbridge Limited (now Glencore).

Over the last 2 years he has been an advisor to the Caravel Board on the Caravel Copper Project feasibility studies and implementation strategies and most recently was Managing Director at Adelaide based, ASX-listed Australian Rare Earths Limited. Mr. Hyma holds a Bachelor of Science in Mining Engineering and a Master of Science in Mineral Processing along with an International Executive Management Diploma from INSEAD in France and Singapore. He is also a Fellow of the Australian Institute on Mining and Metallurgy (AusIMM).

Don Hyma will succeed Mr. Steve Abbott, who has been Managing Director since 2018.