Asiamet Res Regulatory News (ARS)

30 October 2023

Board Changes

Asiamet Resources Limited ("Asiamet" or the "Company") is pleased to announce the following changes to its Board of Directors with immediate effect:

· Appointment of Mr Peter Chambers as a Non-Executive Director

· Retirement of Dr Peter Pollard as a Non-Executive Director

Mr Chambers has over 25 years of experience primarily in finance, telecommunications and investment oversight. Mr Chambers is a representative of Asiamet's largest shareholder, PT Delta Dunia Makmur Tkb (DOID). He holds the position of commissioner with DOID and its mining services company PT Bukit Makmur Mandiri Utama (BUMA). Mr Chambers also holds various non-executive director positions as disclosed in the table below and is a member of several the audit committees of the companies he is either a director of, or involved with. Mr Chambers was a director of PT Agincourt Resources, owner of the Martabe Gold Mine, located in North Sumatra, Indonesia, and an advisor to private equity firms Farallon Capital and Tiga Investments.

With an in-depth understanding of the financial and regulatory environment in Indonesia, Mr Chambers' experience enhances the finance and governance capability of the Asiamet Board.

Mr Chambers holds a Bachelor of Finance and Accounting degree from RMIT, Melbourne.

Dr Peter Pollard has retired from the Asiamet Board. Dr Pollard was Chairman and Director of Asiamet's predecessor company, Kalimantan Gold Corporation from July 2013 and Chairman of Asiamet until February 2017. Dr Pollard was the Chairman of the Company's Audit and Risk Committee. The Company's Audit and Risk Committee will be expanded to three members with experience across legal, regulation and permitting (Eva Armila), commercial, accounting and finance (Peter Chambers) and operations (Dominic Heaton) and will be chaired by Mr Peter Chambers.

Tony Manini, Executive Chairman of Asiamet, commented:

"We are pleased to have Peter Chambers join the Asiamet board as a Non-Executive Director at this important time for the Company. Peter brings a strong background in the finance and commercial areas and extensive experience in accounting and audit gained across a range of industries including several companies operating in the Indonesian mining sector.

Having previously worked with Peter on the board of PT Agincourt Resources during EMR Capital's ownership of the Martabe gold mine, I am looking forward to his insightful strategic, commercial and financial contributions as we advance the BKM copper project into production and grow the Asiamet business.

On behalf of the Company, I would also like to thank Peter Pollard for his highly valuable input at the Board level over a long period of time and for his Chairmanship of the Company's Audit and Risk committee".

Further Information on Mr Chambers' Appointment:

The following details in relation to the appointment of Mr Peter Chambers are disclosed in accordance with AIM Rule 17 and Schedule 2(g) of the AIM Rules.

Peter John Chambers (aged 67) has held the following directorships in the past five years:

As at the date of this announcement, Mr Chambers does not hold any shares either directly or indirectly in the Company.

There is no further information to be disclosed in relation to Mr Chambers appointment pursuant to AIM Rule 17 or Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

ON BEHALF OF THE BOARD OF DIRECTORS

Tony Manini, Executive Chairman

-Ends-

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