Equatorial Resources Limited announced that Mr. John Welborn will be stepping down as Chief Executive Officer of the Company, effective from 30 November 2023. Mr. Welborn will continue his role as a Non-Executive Director of the Company and support the Board of Directors on progressing the Company's exploration and development activites at the Nimba Alliance Iron Ore Project in Guinea, the related green initiatives aimed at net zero greenhouse gas emission solutions for the iron ore value chain, and Equatorial's ongoing efforts to seek compensation from the Republic of Congo in relation to the Badondo Iron Ore Project. Mr. Welborn remains a strong and supportive presence as one of the Company's largest shareholders.