The Board of OAR Resources Limited announced the appointment of Mr. Paul Stephen to the board as Managing Director, effective immediately. Mr. Stephen was first appointed to the Company as Chief Executive Officer in November 2022. His remuneration and other contractual arrangements remain unchanged from that disclosed previously.

Mr. Stephen has a Bachelor of Commerce degree from the University of Western Australia, has held directorships across both Australian Securities Exchange, London and Canadian Stock Exchange listed companies, and has a strong knowledge of operations and compliance across multiple jurisdictions. He was the co-founder and Executive Director of Crusader Resources Ltd, where he oversaw the discovery, development and operations of the Posse Iron Ore mine in Brazil. In addition, he managed the discovery and delineation of more than 2.6 million ounces of gold for Crusader while operating in Brazil, resulting in the company achieving a market valuation of more than AUD 160 million.

Mr. Stephen has extensive operational experience in mine site servicing and contracting as a founder and Managing Director of Integrated Fuel Services, a Western Australian company specializing in providing fuel services to mining and aviation clients.