Appointment of New Chief Executive Officer and Additional Funding

24 May Appointment of New Chief Executive Officer and Additional Funding

Appointment of New Chief Executive Officer and Additional Funding

Brazilian Nickel Limited (‘BRN’ or the ‘Company’), the private UK company developing the Piauí Nickel Project (‘PNP’) in Brazil, is pleased to announce the appointment of Mark Travers as Chief Executive Officer.

Mark Travers has more than 20 years of experience in international business and mining, most recently as Vale’s Executive Vice President of Base Metals, a role in which he oversaw Vale’s global nickel and copper business. In this role, Mark led Vale’s efforts to transform the base metals business and helped position the business with a new transition metals strategy. Mark is passionate about health, safety and sustainability, as well as building a positive social, economic, and environmental legacy through responsible mining practices.

Mike Oxley, Founding Director and previously the company’s CEO, continues in a senior executive role as Director of Strategy and Business Development, a position where Mike will focus on developing a pipeline of new projects for development.

Brian Menell, Chair of the Board of BRN said: “We are delighted to have Mark Travers join us as CEO to bring the organization forward into the next stage of the Company’s development where we look to develop our Piauí Nickel Project.  I am also very pleased that Mike Oxley will continue to help grow the Company by bringing his deep experience through the application of the heap leach process to nickel laterite orebodies.”

Mark Travers, CEO of Brazilian Nickel, said: “This is an exciting time for Brazilian Nickel, and I am pleased to be part of the team that will deliver the future of the Company and the Piauí Nickel Project.  I would like to thank Mike for all his hard work and dedication as CEO, along with the rest of the management team, who have brought the Company to an enviable position for future growth. We will continue to focus our efforts to drive forward the development of the Piauí Nickel Project. I look forward to updating the market on our progress.”

Mike Oxley, Founding Director of Brazilian Nickel, said: “We are proud of the progress we have made including achieving 12 months of leaching at our small-scale nickel PNP 1000 heap leach operation, which is a significant achievement personally and for the team. During this period, we have learned much about the process which will be invaluable to the development of the full scale Piauí Nickel Project. I remain committed to the future development of BRN and being a part of its further success.”

Darryll Castle has also joined BRN as a Non-Executive Director and the second TechMet Investor Director, alongside Brian Menell. Daryll brings over 30 years of experience across project delivery and operational roles. Anne Oxley will step down from the Board and will remain part of the Executive Management team in her role as Technical Director.

As the Company prepares for the construction of the PNP, BRN also announces that it has raised US$30 million in the form of a convertible loan.  The investment comes from existing BRN shareholders, including TechMet and Monazita, demonstrating their continued support and confidence in the project.  TechMet is contributing funding secured from the US Development Finance Corporation to make its onward investment in BRN.

Brazilian Nickel continues to work on securing the overall project financing for the implementation of the Piauí Nickel Project.

About Brazilian Nickel Limited

BRN is a privately held UK company established in 2013 to develop nickel laterite heap leach projects worldwide, beginning with its flagship Piauí Nickel Project in Brazil.  The BRN team are all highly experienced mining industry professionals with extensive experience in South America and worldwide. The team has been developing the heap leaching of nickel laterites for over 20 years with a view to building a world class nickel and cobalt producing company.

About the Piauí Nickel Project

The Piauí Nickel Project is an advanced-staged project that will produce a low carbon footprint nickel and cobalt with strong ESG credentials ideal for the developing EV supply chain in the Americas.  As a staged approach to the full-scale project, a small-scale PNP1000 project was commissioned in 2022, which has provided a quick-start to operations and the production of nickel hydroxide intermediate product. The PNP1000 allows BRN to benefit from today’s increasingly strong nickel market, as demand for both nickel and cobalt continues to increase for use in advanced modern technologies, notably electric vehicle batteries.

For more information please visit the company website at www.braziliannickel.com, as well as following the company on Twitter, LinkedIn and YouTube.

Contact:

[email protected]