Cazaly Resources Limited has appointed experienced mining executive Adrian Byass as managing director, effective 8 October 2026, following the resignation of Tara French.

Mr Byass brings more than 30 years of technical, corporate and capital markets experience to the role, having held board positions across ASX, AIM and TSX Venture Exchange-listed companies. His remuneration package comprises a $325,000 annual base salary plus statutory superannuation, alongside three tranches of performance rights. The final tranche of 2,000,000 rights is subject to shareholder approval and is contingent on the company achieving a market capitalisation exceeding $25 million. Ms French will work with the board over the coming weeks to ensure an orderly handover.

“I am delighted to join Cazaly as Managing Director and look forward to working with the Board, management team and shareholders to unlock the significant potential within the Company's broad asset portfolio. Cazaly has established a strong platform from which to grow, and I am excited about the opportunities ahead.” — Adrian Byass, Managing Director

Alongside the leadership transition, Cazaly is launching a strategic portfolio review. The process aims to direct capital, technical expertise and corporate resources toward high-impact assets while evaluating options to unlock value from non-core holdings.

“Cazaly has assembled an attractive and diverse portfolio of projects and opportunities. A key part of our strategy will be maintaining focus on two to three core projects where we believe we can generate the greatest shareholder returns, while continuing to seek innovative ways to realise value from the remainder of the portfolio. We will also continue to assess new opportunities that align with our technical expertise, corporate capability and value creation objectives.” — Adrian Byass, Managing Director

The company holds a 51% majority interest in the Goongarrie Gold Project in Western Australia through a staged farm-in agreement. Technical work across the asset base continues, with 2,500 metres of reverse circulation drilling planned at the Hastings prospect to test down-plunge extensions of mineralised structures in fresh rock.

“Overall, the Board believes this disciplined and opportunistic approach has served the Company well historically and remains the most effective strategy for delivering sustainable long-term value to shareholders.” — Adrian Byass, Managing Director

Chairman Clive Jones noted that Mr Byass's track record of building resource companies and advancing projects through the development cycle made him well-suited to lead the company into its next growth phase.

Read the full announcement: Board Changes & Strategic Review