As a result of the change of control arising from the off-market takeover bid by Diatreme Resources Limited (Diatreme), the board of Metallica Minerals Limited (Metallica) announced a re-composition of the board to more closely reflect Diatreme's ownership interests in Metallica. Mr. Theo Psaros and Mr. Mark Bojanjac will resign from the board of Metallica, effective 8 July 2024. The board has also agreed to terminate Mr. Psaros' executive contract with effect from 8 July 2024.

Mr. Psaros has agreed to make himself available to enable an orderly handover to the re-comprised board of Metallica up until 8 August 2024. Diatreme has nominated the appointment of Mr. Greg Starr, Michael Chapman and Stephen Everett, who will commence as directors of Metallica on 8 July 2024. Mr. Starr and Mr. Chapman are current directors of Diatreme.

Mr. Everett is not a current or former officer of Diatreme or otherwise associated directly with Diatreme (other than by accepting the nomination to the board of Metallica) and is nominated as an Independent Non-Executive Director of Metallica. Mr. Brad Sampson will remain an Independent Non-Executive Director of Metallica.