The Board of Grange Resources Limited advised that Mr. Honglin Zhao has been appointed Chief Executive Officer of the Company, effective immediately. Mr. Zhao has been a member of the Board of Directors since 2010 and remains an Executive Director of the Company. Mr. Zhao has over 39 years' experience in the steel industry and was the manager of Shagang's
iron-making and steel-making plants for many years. Mr. Zhao was previously the Vice-president of Shagang Group and Chief Commander of Project Development Headquarters with Shagang.