Magnus Energy Group Ltd. announced resignation of Michael Grant Pixley as Independent Non-Executive Chairman. Role And Responsibilities: Independent Non-Executive Chairman, Chairman of Remuneration Committee and member of Audit and Risk and Nominating Committees. Other DirectorShips Past: EVE Investments Ltd. Other DirectorShips Present: Credit Intelligence Ltd. Eneco Refresh Group Ltd. Story-i Ltd. Endeavour Pacific Pte Ltd. Pan Asia Corporation Limited.

Reason For Cessation: Mr. Pixley's resignation comes after a period of just under two years in which the Board positively settled the legal case against the previous Board and management, successfully defended the Thong Soon Seng case, and maintained the US business while pivoting the Company to new commodity trading opportunities in the battery metals market in Indonesia. Due to the foregoing and the limitations that Mr. Pixley has encountered in terms of having visibility /oversight of the Company s new businesses in Indonesia given that he is based in Australia, Mr. Pixley believes that it is now an opportune juncture for a fresh Chair to lead the new business in Indonesia with its expansion opportunities mapped out from Nickel to Manganese.