Pinnacle Minerals Ltd. announced that Maurice Matich has been appointed as Chief Executive Officer of the Company. Nic is a mechanical engineer and finance professional with over 15 years' experience in the resources sector. His wide industry experience includes the provision of engineering, risk consulting and insurance services to numerous tier 1 mining companies with operations in mineral sands, kaolin, iron ore, gold and zinc. Nic has a deep understanding of the industrial minerals thematic having covered the sector as an analyst for Patersons Securities and more recently as Executive Director of Heavy Minerals Limited that Nic lead to listing on the ASX in 2021.

Nic was the key driver of the company, delivering both a maiden resource and scoping study in his first twelve months as Executive Director there. The key terms of Nic Matich's employment arrangements are summarised below: Executive remunerations fee is $18,000 per month plus statutory superannuation. He will be eligible to participate in the Company's Performance Rights and Options Plan.

He is to be issued with 3,000,000 options on the following conditions: 1,000,000 exercisable at $0.25 expiring 4 years from date of issue with 50% vesting after 12 months and 50% vesting after two years; 1,000,000 exercisable at $0.25 expiring 3 years from date of issue vesting upon the Company's weighted average share price exceeding $0.30 for 20 consecutive days 1,000,000 exercisable at $0.25 expiring 3 years from date of issue vesting upon the Company's weighted average share price exceeding $0.40 for 20 consecutive days. Employment may be terminated by Nic Matich giving the Company 3 months notice. Nic Matich's employment may be terminated by the Company with 3 months notice.