Minerals 260 Limited announced the appointment of experienced mining executive Luke McFadyen as the Company's new Chief Executive Officer (CEO) effective from 1 July 2023. Mr. McFadyen-who was most recently Head of Portfolio Strategy & Economics with ASX-100 copper and nickel mining company OZ Minerals - will work closely with Minerals 260's founding Managing Director, David Richards, who will transition to the role of Executive Director as the Company continues to execute its growth strategy. As part of the executive management succession process, Mr. Richards will ultimately transition to Non-Executive Director, that will allow him to spend more time with his family while continuing to provide his expertise to Minerals 260.

Mr. McFadyen is a highly accomplished mining executive with over 15 years' experience working in top tier and global organizations, such as, BHP, South32, Syrah Resources, KPMG, International Copper Association Australia and OZ Minerals. His experience covers strategy, valuations, investment assessments, commodity market analysis and risk management. In his most recent role as Head of Portfolio Strategy & Economics at OZ Minerals, Mr. McFadyen was responsible for the development and analysis of corporate strategy, market intelligence and group valuation and led the internal independent assessment of growth opportunities at OZ Minerals, ranging from exploration to operational assets.

He was also a member of the Steering Committee and led the valuation, due diligence and integration for OZ Minerals during the recent BHP takeover process. Mr. McFadyen is a Fellow of The Australasian Institute of Mining and Metallurgy (FAusIMM) and holds a Master of Science (Mineral and Energy Economics), MBA from Curtin University, as well as a Bachelor of Commerce (Economics) and Bachelor of Science (Biology) from the University of Notre Dame Australia.