Magnetite Mines Limited announced that Mr. Mark Eames has been appointed as the Technical Director. Mr. Mark Eames will take on the role of Technical Director of the Company (previously, Mr. Eames worked as Non-Executive Director and provided consulting services to the Company). Mr. Eames, as an experienced mining executive, has been providing consulting services to the Company since May 2019 and was responsible for leading the Scoping Study in that year, which led to the PFS that is currently underway. He was appointed a non-executive director in March 2020. The Board considers that Mr. Eames has made a material contribution to the direction of the Company and is pleased that Mr. Eames is prepared to formalise his role in a suitable employment arrangement as the Technical Director. This will secure his services for the current development programme and allow Mr. Eames to provide leadership and technical direction to the PFS team.