New Energy Minerals Ltd: New Managing Director Appointed & other board changes

Sydney, Australia - The Company (ASX:NXE) (FRA:GGY) (OTCMKTS:MTTGF) is pleased to announce that Mr Andrew Haythorpe has been appointed as Managing Director of the Company, effective 3 May 2021.

Initially, he will serve part-time as he oversees the process of seeking the re-admission of the Company to ASX, including the completion of the acquisition of a new mineral project for the Company, particulars of which are proposed to be announced shortly with ASX permission. He will convert to being full-time as the project requires. He is based in Perth, Western Australia.

Mr Haythorpe has a BSc (Hons) in Economic Geology from James Cook University in Townsville, Queensland and joins the Company as a very experienced gold geologist, former gold mining analyst and Director with considerable public company experience. He is currently Chairman of Allup Sand Pty Ltd and a Director of Lithium Consolidated and Stunalara Pty Ltd (BetterCells) and Founder of Ouro Pty Ltd - which focusses mostly on gold company review and investment appraisals.

He brings extensive experience in all aspects of gold exploration and project advancement, having worked as a geologist in gold drilling campaigns in Queensland and Victoria, and later advanced Crescent Gold through exploration into production as Managing Director in Western Australia.

He is well placed to introduce additional gold projects to the Company for review for possible acquisition in the future.

His remuneration pending re-admission will consist wholly of fully paid ordinary shares issued by the Company subject to shareholder approval and his salary will become payable in cash once the Company is re-admitted to ASX, full details of which are contained in the Annexure below. His proposed remuneration and his executive service agreement will be more fully summarised in the proposed Notice of General Meeting and accompanying Explanatory Statement being prepared for dispatch to shareholders.

Mr Christiaan Jordaan has retired as a non-executive Director of the Company, effective 30 April 2021 as contemplated by the Company in its 2 March 2021 announcement outlining Board changes at the time.

Mr Jordaan served, until 2 March 2021, as Managing Director of New Energy. His commercial and corporate expertise has been greatly valued by the Company.

The Board and management of New Energy thanks Mr Jordaan for all his contributions to the Board and to the Company and wish him very well in his future endeavours. He has informed the Board that he intends to pursue other business interests.

Mr Ian Daymond has reverted effective 3 May 2021 from being Interim Executive Chairman to being Non-Executive Chairman and will continue, subject to shareholder approval, to receive director fees of $5,000 per month wholly in the form of shares until re-admission.

The Board of Directors now consists of Messrs Ian Daymond (Non-Executive Chairman), Andrew Haythorpe (Managing Director) and Dr Bernard Olivier and Dr Evan Kirby as Non-Executive Directors.

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:

Ian C. Daymond Interim Executive Chairman info@newenergyminerals.com.au T: +61-8-9217-2400