Directorate Resignation

NEWS RELEASE I 2 OCTOBER 2026

RESIGNATION OF DIRECTOR

Sovereign Metals Limited (ASX:SVM; AIM:SVML; OTCQX:SVMLF) (Sovereign or Company) advises that Dr Julian Stephens has resigned as a Non-Executive Director of the Company effective immediately.

Dr Stephens was Managing Director of Sovereign from June 2016 until October 2023 where he was instrumental in the Company's growth and development. He first identified rutile mineralisation in Malawi and subsequently led the team that discovered Sovereign's world-class Kasiya deposit, progressing the project through its scoping and pre-feasibility study stages.

Upon his transition from Managing Director to Non-Executive Director in October 2023, Dr Stephens continued to support the Company and its technical and management teams.

Following his resignation as a Non-Executive Director, Dr Stephens will continue to provide consulting services to the Company.   

The Board would like to express its sincere gratitude to Dr Stephens for his long-standing and significant contribution to Sovereign for more than a decade and looks forward to his continued involvement with the Company in his consulting capacity.

A Final Director's Interest Notice is provided below.

Appendix 3Z

Final Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available.  Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

We (the entity) give ASX the following information under listing rule 3.19A.3 and as agent for the director for the purposes of section 205G of the Corporations Act. 

Part 1 - Director's relevant interests in securities of which the director is the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Part 2 - Director's relevant interests in securities of which the director is not the registered holder

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Part 3 - Director's interests in contracts