Zanaga Iron Ore Company Limited announced the appointment of Martin Knauth as Chief Executive Officer with immediate effect. Mr. Knauth is a senior mining executive with extensive experience in the industry spanning more than 30 years in a wide range of cultures, countries and commodities, with notable success in project development, operations and transformational growth phases, as well as establishment of performance cultures. With previous experience in Australia, Kazakhstan, Madagascar, Cuba, the DRC and many other jurisdictions, working for such companies as Western Mining Corp, Vale, Sherritt Metals International, KAZ Minerals and Glencore.

He has a strong record in establishing and maintaining positive relationships with governments, communities, employees and other Project stakeholders critical to the Company's success. Mr. Knauth holds a Bachelor's degree in Mining Engineering from the University of Queensland, a Masters degree in Mineral Economics from Curtin University and is a Member of the AusIMM. Mr. Knauth will not be joining the Board of Directors at this stage, but a potential Board role will be considered in the future.