Neo Energy Metals plc / EPIC: NEO / Market: Main Market of the London Stock Exchange

25 March 2024

Neo Energy Metals plc

('Neo Energy' or 'the Company')

Jason Brewer Appointed Executive Chairman

Neo Energy Metals plc, the near term, low-cost uranium developer, is pleased to announce that Non-Executive Chairman Jason Brewer has been appointed Executive Chairman with immediate effect.

Mr. Brewer's move to an executive role is to support  the Company's Chief Executive, Sean Heathcote, in delivering on the accelerated development plans of the Henkries Uranium Project ("Henkries") and expanding the company's uranium interests around Henkries and throughout Southern Africa.

Mr Brewer has significant experience and expertise in the international mining sector, having worked for almost 30 years in international mining, financial markets, and investment banking. This includes holding senior executive positions with a number of major global investment banks, including Dresdner Kleinwort Benson, NM Rothschild & Sons and Investec and with listed fund management companies focused on the mining and metals sector. He is the co-founder of Gathoni Muchai Investments Limited, an active African focused private equity-style mining investment company, CEO of London listed Marula Mining plc, and a director of Shuka Minerals plc and Unicorn Mineral Resources plc. Mr Brewer is also the founder of the Mayflower Childrens Foundation, an organisation that aims to improve the education, health, and wellbeing of African children through a variety of charitable programmes.

Neo Energy CEO Sean Heathcote said, "Jason is part and parcel of Neo Energy's journey, and I am delighted that he has agreed to become Executive Chairman. His extensive experience and dedication to what Neo Energy is striving to achieve makes it a logical move and Jason's leadership is instrumental in driving our growth and achieving our goals in this dynamic market. I look forward to working more closely with Jason as we push forward on our strategy to become an important supplier to the fast-growing uranium sector.

"Having set ambitious targets focused on advancing our low-cost Henkries uranium project in South Africa towards a 2-year production plan, we eagerly anticipate sharing regular updates on the company's progress over the coming months. With experienced leadership and our team's commitment, we are confident in Neo Energy Metals' ability to deliver value to our stakeholders and contribute significantly to the uranium industry."

ENDS

Notes

Neo Energy Metals plc aims to become an important supplier to the fast-growing uranium sector.  Its initial focus is on its 70% owned Henkries Uranium Project, an advanced, low-cost uranium project in the Northern Cape Province of South Africa with a clear pathway to production. +US$30m of historical exploration, drilling, test pitting and mining, metallurgical test-work and pilot plant work has been undertaken at the Project, culminating in a published feasibility study. 

Headquartered in Nairobi, Kenya, Neo Energy is now focused on increasing the mineral resources at Henkries from the current estimated 4.7 million pounds of uranium, (which is highly probable as less than 10% of prospective ground is fully tested), and completing an updated feasibility study ahead of reaching a development decision by November 2025. 

Led by a proven board and management team with uranium and other mineral project development experience in Southern Africa, Neo Energy's strategy is layered on a two-year development approach to generate cashflow from Henkries with a view towards building a longer term exploration and portfolio growth strategy to develop the highly prospective Northern Cape Region of South Africa and, potentially, broader regional expansion into energy metal property holdings globally. 

The team includes:

·    Jason Brewer, Executive Chairman: c.30 years' experience in international mining, financial markets, and investment banking with a particular focus in Africa.

·    Sean Heathcote, CEO: +30 years' experience in the mining and exploration industry in Africa across a broad range of commodities.

·    Jackline Muchai, Non-Executive Director: one of the few Kenyan women serving on a board within London's Main Market on the London Stock Exchange, and CEO of Gathoni Muchai Investments.

·    James Longley, Non-Executive Director: +30 years' experience in finance, whose career has been focused on venture capital, private equity and building growth companies.

·    Charles Tatnall, Non-Executive Director: a seasoned advisor and fundraiser, specialising in small and medium-sized enterprises across diverse industries.