Muzhu Mining Ltd. announced that its Chairman James Sung Fu Tong and its Director Richard Sung Yin Tong have resigned from the company effective September 13, 2023, to pursue other opportunities. Mr. Richard Sung Yin Tong has served in these positions since the Company's incorporation in 2018. Mr. James Sung Fu Tong has served as a Director of the Company since its incorporation, in addition to undertaking the role of Interim Chief Executive Officer.

The Board of Directors has elected Dwayne Yaretz as the new Chairman, President to lead the company?s efforts of continued exploration of the Quebec Sleeping Giant South property and efforts towards completing the process of acquiring a bulk sampling license for the Company?s LMM property which is immediately adjacent to the company?s XWG property in Henan Province, China. The Board has also welcomes James Stanley as a new independent Director. Mr. Stanley is an accomplished corporate finance professional with diverse experience and a strong background in corporate start-ups, development and growth.

Mr. Stanley brings over 25 years of successful investment banking experience including NASDAQ IPOs and PIPE financings.