Mangazeya Mining Ltd. (Mangazeya or the Company) announced that the Board of Directors has approved the appointment of Mr. Mikhail Gusev as Chief Executive Officer. Mr. Mikhail Gusev is a highly experienced and successful executive with over 15 years of experience in the gold mining industry. He joined the Mangazeya Group in 2020 as General Director of Mangazeya Zoloto, LLC. Prior to joining the Magazeya Group, Mr. Guzev held various senior positions with Renova Group of Companies, where he managed mining assets concentrated in Kamchatka, the Urals, Karelia, Kyrgyzstan, Mongolia and Africa. The Company thanks Mr. Sergey Yanchukov for his service as the Chief Executive Officer of the Company. Mr. Yanchukov will continue to hold his position of the Member of Board of Directors of the Company.