Cyclone Metals Limited announced the appointment of Mr. Paul Berend as Executive Director of the Company with effect from 1 May 2023. Paul brings over 20 years of experience in the iron ore and steel industry acquired in blue chip as well as junior mining companies worldwide. His previous corporate roles include GM Business Development for Rio Tinto Iron Ore and GM Corporate Strategy for ArcelorMittal.

He has also worked for Hatch (director advisory services for Australasia), McKinsey & Company and Partners In Performance. Paul has a successful track record in identifying and developing early-stage mining projects and is the founder and historic CEO of Trans-Tasman Resources Ltd. He has worked extensively with private equity and specialised funds to identify and develop early-stage mining projects and turn around undervalued producing mineral assets. Paul has MBA from HEC (Paris, France), a MSc and DEA (PhD) in chemical process design and chemistry from ENSIC (Nancy, France), a bachelor's in applied mathematics and algebra from Harvard University and is a Graduate of the Australian Institute of Company Directors.

Cyclone Metals Limited also announced that Non-Executive Chairman Mr. Terry Donnelly has resigned as Director of the Company effective 13 April 2023 to pursue other business interests. Tony Sage is currently providing the services of Executive Director to Cyclone via Okewood Pty Ltd. In line with the board restructure, Mr. Sage will assume the role of Executive Chairman to the Company and work closely with Mr. Berend to drive shareholder value.