Vimy Resources Limited (ASX: VMY, OTCQB: VMRSF) (Vimy or Company) is pleased to advise the Company's Interim Chief Executive Officer, Mr Steven Michael, has agreed to join the Board as an Executive Director, effective as of 29 November 2021

Mr Michael has over 25 years' experience in the global resources sector, specialising in corporate finance and equity capital markets. He is currently a Managing Director at FTI Consulting, an independent global business advisory firm, and has been engaged by Vimy as Interim CEO through a consultancy agreement with FTI.

He has previously worked in the natural resources division of Macquarie Bank, Rothschild & Co and Royal Bank of Canada, in global mining equities research and sales, corporate finance and investment banking. Mr Michael is also a Non-Executive Director of Predictive Discovery Limited (ASX: PDI) and Tanga Resources Limited (ASX: TRL). Mr Michael was previously Managing Director of an exploration company with a portfolio of assets in Australia and Africa.

He was also Chief Financial Officer of an ASX-listed uranium exploration and development company with significant uranium resources in South Korea. He is a Member of the Institute of Chartered Accountants in Australia and is a member of the Australian Institute of Company Directors

Vimy Chairperson, The Hon. Cheryl Edwardes AM said: 'Steven has been a positive addition to the Vimy team over the past three months as Interim CEO and I now welcome him to the Board of Directors. Steven's unique mix of company management, project development and corporate finance skills are invaluable to Vimy at this time. 'The addition of Steven to the Board of Vimy, along with Wayne Bramwell last month, reflects the evolution of the Company as it transitions towards developing the Mulga Rock Uranium Mine and commencing production in 2025.'

Vimy also advises that Non-Executive Director, Mr David Cornell, has resigned, effective immediately.'

Ms Edwardes AM said: 'David has been a Non-Executive Director with Vimy since 2012. On behalf of the Board and our staff I would like to thank him for his service to the Company over a significant period during which much progress has been made towards the development of our flagship Mulga Rock Uranium Project. I wish David all the best with his future endeavours.' As a result of Mr Cornell's resignation, the Board has resolved to withdraw Resolution 5 - Re-election of Director - Mr David Cornell from the Company's annual general meeting scheduled for Friday 26 November 2021.

Contact:

Steven Michael

Tel: +61 8 9389 2700

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