Lykos Metals Limited announced that Managing Director Mladen Stevanovic has tendered his resignation in order that he can reside in Australia. Executive Director Milos Bosnjakovic, who is based in Bosnia-Herzegovina and has been working alongside Mr. Stevanovic, will take on the role of Interim CEO, effective from January 31, 2023, and will be ably supported by the Company's Chief Geologist, Aleksander Kostic. Mr. Bosnjakovic, has extensive experience in managing exploration companies in the Balkans and well-built relationships with the government and key stakeholders in Republic of Srpska, the region of Bosnia-Herzegovina where Lykos' projects are based.

Mr. Kostic holds a MSc in Geology from the University of Belgrade and subsequently gained over 10 years geological experience in the Balkan region before joining Lykos in March 2022. Mr. Stevanovic will provide ongoing consultancy services to Lykos from Perth.