New Energy Minerals Ltd: Appointment of Experienced Technical Directors

Sydney, Australia - New Energy Minerals Ltd. (ASX:NXE) (FRA:GGY) (OTCMKTS:MTTGF) as part of its plan to acquire and advance new mineral exploration projects is pleased to announce the appointment of experienced non-executive directors Dr Bernard Olivier and Dr Evan Kirby with essential technical skills.

The Board is delighted to welcome Dr Olivier who is a highly qualified and experienced geologist to assist New Energy in the implementation of its strategic, exploration and development plans.

Dr Olivier is a qualified geologist and has been involved with the mining and exploration industry for the past 22 years. He has over 13 years' experience as a public company director of ASX-listed and AIM-quoted mining and exploration companies and is currently Executive director of Richland Resources Ltd (AIM:RLD).

Dr Olivier was previously the CEO of Tanzanite One Limited and was credited with restructuring and returning the group to profitability in 2010. He also led the team which established a maiden JORC Resource estimate of 3.9 million gold ounces for Bezant Resources plc's Mankayan project and achieved an 8 pence per share return of capital to its shareholders. He is a dual Australian and South African national and a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM).

Dr Olivier is based in George, South Africa and served as Managing Director of the Company from January 2018 until 12 June 2019. Subsequently, he has been providing consulting services to Auspicious Virtue Investment Holdings ("Auspicious") prior to its purchase and following the completion of its purchase of the Balama Graphite/Vanadium Project in Mozambique in July 2020.

Dr Kirby, who is a metallurgist with more than 40 years' experience, brings a wealth of corporate and technical expertise to New Energy. He has held leading roles in numerous metals and minerals projects, including several world-class developments.

Dr Kirby worked for 16 years in South Africa with Impala Platinum, Rand Mines and then Rustenburg Platinum Mines. In 1992, he moved to Australia and was employed by Minproc Engineers and then Bechtel Corporation, where he had management and technical responsibilities. In 2002, Evan established his own Australian-based consulting business, Metallurgical Management Services. He has worked as a consultant to Australian and international companies and has been a director of several ASX and AIM-listed mining companies.

Dr Kirby is based in Perth Western Australia and was previously a non-executive director of (and consultant to) the Company from March 2018 until 12 June 2019. Like Dr Olivier, Dr Kirby has been subsequently providing consulting services to Auspicious, prior to its purchase and following the completion of its purchase of the Balama Graphite/Vanadium Project in Mozambique in July 2020.

Both Dr Olivier and Dr Kirby have been nominated to the Board by the Company's largest shareholder UBezTT International Investment Holdings (BVI) Ltd. Mr Paul Ching and Mr Jackie Lee as previous nominees of UBezTT have concurrently resigned from the Board. The Company extends its thanks and gratitude to both Mr Ching and Mr Lee for their service to the Company.

New Energy Chairman Ian Daymond said "We are very pleased to welcome back to the Board of Directors Dr Bernard Olivier and Dr Evan Kirby as non-executive directors. We look forward to working with them on developing new projects. They bring essential technical expertise and experience to the Board which will greatly assist the Company as it builds up its management capacity and implements its strategic, exploration and development plans.

About New Energy Minerals Ltd:

New Energy Minerals (ASX:NXE) is an ASX listed junior mining company, that recently announced the divestment of the Company's Caula vanadium - graphite project and the Montepuez Ruby project in Mozambique.

Source:
New Energy Minerals Ltd.

Contact:

New Energy Minerals Ltd. Bernard Olivier Managing Director E: bernard@newenergyminerals.com.au M: +61-4-08948-182 T: +27-66-4702-979 Jane Morgan Management Jane Morgan Media & Investor Relations E: jm@janemorganmanagement.com.au T: +61-405-555-618