SRG Mining Inc. (TSXV: SRG) today announced the appointment of two experienced senior executives, highlighting its growth and long-term value creation plan. Effective immediately, Matthieu Bos has been appointed Chief Executive Officer and President of SRG and Patrick Moryoussef as Chief Operating Officer.

“These senior executive appointments emphasise the Company’s commitment to build upon the current momentum and realise the Lola Graphite Project’s enormous growth potential,” said Benoit La Salle, Chairman of the Board. “Matthieu and Patrick add significant depth of knowledge and experience in the financing, exploration, development, construction and operation of mines throughout Africa.  Based on their successful track records, the Board of Directors has full confidence in their abilities to assemble and lead the team that will construct and operate the Lola Graphite Project in the Republic of Guinea.”

Mine-to-Market Solution

The nomination of the executive team coincides with an expansion of SRG’s strategic plan to develop its Lola Graphite Project in the Republic of Guinea into a fully integrated supplier of battery anode material to the European market. The integrated business model would result in the creation of a mine-to-market active anode material producer, hosting a large high-purity graphite production mine and concentrator in Africa and a value-added, coated spherical purified graphite (“CSPG”) conversion facility in Europe.  This strategy would serve the European lithium-ion and fuel cell markets with high-quality, low-cost African graphite, coupled with the supply chain security of a domestic manufacturer supplier.

Under the Company’s value-creation plan, the new leadership team has established the following initial goals:

• Review the SRG development and financing strategy with the aim of bringing the Lola Graphite Project into production.
• Fast track a preliminary economic assessment (“PEA”) to confirm the capital and operating costs for a mine expansion, in addition to the construction of a value-added CSPG processing plant to supply lithium-ion battery manufacturers in Europe.
• Continue discussions with the multiple parties who have expressed interest in providing financing to advance SRG towards first production, either through an equity investment, strategic partnership or offtake arrangement. Binding offtake offers have been received for more than 100% of initial production.
• Advance and finalize a mining convention in H2 2022 with the Republic of Guinea, a highly prospective mining jurisdiction with which SRG enjoys deep relations.

SRG will provide further comment only if a specific transaction or process is concluded, or if further disclosure is required or deemed appropriate. There can be no assurance that the Company will pursue any transaction or that a transaction, if pursued, will be completed.

About Matthieu Bos, MSc.

Matthieu Bos’s career spans over 14 years in investment banking and mining in Europe and Africa, highlighted by an eight-year tenure at Ivanhoe Mines. During his most recent role as Executive Vice-President Africa, Matthieu was a key member of the team that delivered the world-class Kamoa-Kakula Copper Project in the Democratic Republic of the Congo. During this period, he was actively involved in US$3 billion in equity and debt financings from various strategic and institutional investors in addition to working on government relations and strategic corporate development. Prior to joining Ivanhoe, Matthieu was employed by BMO Capital Markets in the Metals and Mining Division in London. In addition to earning a BSc majoring in applied earth sciences, Matthieu holds a MSc majoring in metallurgical engineering from Delft University of Technology, the Netherlands.

About Patrick Moryoussef, P.Eng.

Patrick Moryoussef, P.Eng., is a seasoned mining executive with over 25 years of experience in the mining and mineral resource industry across Canada and West Africa. Mr. Moryoussef served as Vice-President, Mining Operations of SEMAFO from 2004 to 2020. Following its acquisition by Endeavour Mining, he acted as Senior Vice-President, Technical Services and Operational Performances. Prior to SEMAFO, Patrick held managerial roles of increasing responsibility with companies including Noranda, Falconbridge, Placer Dome and Mines McWatters. A mining engineering graduate from McGill University, Patrick is also a member of Ordre des Ingénieurs du Québec and sits on the board of directors of several companies.

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