Kodal Minerals announced that Lei ("David") Teng has joined the board of directors of the Company as a Non-Executive Director. David qualified as a certified practising accountant ("CPA") in Australia and has over 15 years' experience working in the natural resource division (Fosun Resource Group) of Fosun Group. At Fosun Resource Group, David has held various senior positions, including but not limited to, investment director, senior investment director, executive director, managing director and co-chairman with a focus on investment, strategy and management in the global resource sector.

Most recently, David was appointed president and vice chairman of Hainan Mining Co Ltd. and he is the non-executive board chairman of ROC Oil Company Pty Ltd, an Australia-based petroleum company also controlled by Fosun Group. David is also a global partner at the Fosun Group where he is responsible for global natural resource investment and management. Lei ("David") Teng, aged 44, is, or has been during the last five years, a director or partner of the following companies and partnerships: Current: Hainan Mining Shareholding Co.

Ltd; Hainan Mining Co Ltd; Roc Oil Company Pty Ltd; Kodal Mining UK Limited; Xinmao Investment Co., Limited; Hainan Mining Shareholding Co. Ltd. Past: Hainan Xingshao Enterprise Management LP.