Highlights

• David O’Connor appointed Non-Executive Chairman, effective immediately
• Veteran resource professional with 40+ years of global mining experience across exploration, development and M&A
• Wealth of experience in both listed and unlisted companies across multiple jurisdictions including:
  • Founder of Explorator Resources, which sold its El Espino Copper-Gold Project to Chilean producer Pucobre
  • Led exploration for Western Mining Corporation at the world-class Olympic Dam deposit
  • Currently Chief Geologist of AbraSilver Resources Corp. (TSX-V: ABRA), (~AU$1 billion market cap) and has been instrumental in growing its flagship Diablillos Silver-Gold Project from 129Moz AgEq to 350Moz AgEq at a discovery cost of just US$0.11/oz AgEq
• Strengthens Advance’s technical and strategic leadership as the Company advances its

Mexican silver-gold portfolio

Advance Metals Limited (ASX:AVM) (“Advance” or the “Company”) is pleased to announce the appointment of Mr David O’Connor as Non-Executive Chairman, effective immediately.

Mr O’Connor brings over 40 years of international mining experience, with a proven record of success in the identification, acquisition, and management of high-quality mineral projects across multiple jurisdictions. He has founded or co-founded five publicly listed companies based on projects in South America and successfully managed the merger of three of these entities.

Mr O’Connor has been instrumental in AbraSilver’s success since inception. In 2019 the Diablillos Silver Project was acquired for ~C$5 million through the merger of AbraPlata Resource Corp. and Aethon Minerals Corp. At the time, the project contained a resource base of 129 Moz AgEq and a pro forma market capitalisation of C$10 million. Over the past seven years, he has overseen its transformation into a project with 350 Moz AgEq in resources and significant ongoing growth potential.

Mr O’Connor is currently the Chief Geologist of AbraSilver Resource Corp. (TSX-V: ABRA), a company with a market capitalisation exceeding A$1 billion. AbraSilver owns the Diablillos Silver-Gold Project in Argentina, a premier deposit with Measured & Indicated Resources of 199 Moz Ag and 1.7 Moz Au (350 Moz AgEq) — representing a +170% increase in contained ounces since 2020, achieved at a discovery cost of just US$0.11/oz AgEq. Major shareholders include Eric Sprott and Kinross Gold Corporation.

He holds a BSc (Hons) in Geology from the University of Cape Town and an MSc D.I.C. in Mineral Exploration from the Royal School of Mines, London.

Commenting on his appointment as Non-Executive Chairman, Mr David O’Connor said:

“I am delighted to join Advance at this stage as it builds a high-quality portfolio of silver-gold assets in Mexico. The Company’s strategy reminds me of AbraSilver’s early days, acquiring high-quality assets at attractive prices.

The Advance team has successfully secured three high-potential silver-gold assets in Mexico, with a combined endowment of approximately 100 Moz AgEq, on very attractive terms. The opportunity to further grow the silver endowment across Advance’s Mexican assets is extremely compelling, and I look forward to guiding the development of these projects and helping position Advance as a leading silver developer in the region.”

Commenting on the Appointment, Managing Director, Dr. Adam McKinnon said:

“David’s appointment adds exceptional depth and experience to our Board. His global perspective, proven track record in value creation and discovery, and hands-on approach to project development will be invaluable as we execute our growth strategy in Mexico.

We’re delighted to welcome him to the team as we continue to build momentum towards establishing Advance as a major silver developer in the region.”

Remuneration Package

• A$125,000 per annum, exclusive of superannuation; and
• 1,000,000 performance shares, vesting upon the Company’s share price achieving a 50%bpremium to the closing share price on 21 October 2025; and
• 1,000,000 performance shares, vesting upon the Company’s share price achieving a 100% premium to the closing share price on 21 October 2025.

Board Changes

Following Mr O’Connor’s appointment:

• Mr Craig Stranger will move from his current position as Non-Executive Chairman to Non-Executive Director.
• Mr Joshua Gordon has resigned from the Board to focus on other business ventures. Mr Gordon has served on the Board since the inception of Advance’s restructure and has played an instrumental role in the Company’s successful transformation delivering significant shareholder value. During his tenure, he contributed materially to the development of Advance’s corporate strategy, the identification and acquisition of key projects, execution of strategic initiatives, and several highly successful capital raisings. The Board extends its sincere thanks to Mr Gordon for his outstanding service, professionalism, and commitment to the Company, and wishes him every success in his future endeavours.

For further information:

Dr Adam McKinnon
Managing Director and CEO
Advance Metals Limited
+61 (0) 411 028 958
[email protected]
www.advancemetals.com.au

Jane Morgan
Investor & Media Relations Manager
Advance Metals Limited
+ 61 (0) 405 555 618
[email protected]

This announcement has been authorised for release by the Board of Advance Metals Limited.

Original Article: https://company-announcements.afr.com/asx/avm/c8f5c485-aee3-11f0-af0f-3eb0efcdc8e9.pdf