TNG Limited announced further key changes to its Board and senior management team as it prepares to make the transition to development and production at the Mount Peake Critical Minerals Project in the Northern Territory. Following discussions with the Company's major shareholders, and as part of the Company Board's renewal process - which is aimed at building a professional and experienced Board with a diverse mix of large project development and mining operations skillsets - a global executive search will be launched for a new, high-profile Chief Executive Officer with extensive mine and large development experience to drive the Mount Peake Project through to production. This recruitment search has been authorised by the TNG Board and will be coordinated by TNG's recently appointed Non-Executive Chairman, highly-regarded mining executive Neil Biddle.

Paul Burton will remain as the Company's Managing Director and CEO until the new CEO appointment is made, after which he will step down from the Board within six months, remaining as an executive in an advisory role and potentially managing TNG's battery minerals assets. Non-Executive Director John Elkington will step down from the Board and will be retained by TNG as a consultant to provide continuity for the project review team and financial modelling. The TNG Board has determined not to list on the London Stock Exchange.

As a result, a London-based director is no longer required and Non-Executive Director Elizabeth Henson will also step down from the TNG Board.