Variscan Mines Limited advised changes to the Board of Directors, consistent with the Company's commitment to maintain an agile and cost-effective Board appropriate to its stage of development. The Board advised the appointment of Mr. Simon Fyfe as a Non-Executive Director, effective 30 January 2020. Mr. Fyfe has had an active involvement in the growth of various natural resources and industrial ASX- listed and private companies. He has extensive strategic, operational and structuring experience, and a network of international contacts. He was formerly CEO of ASX-listed High Peak Royalties Ltd. and has served an Executive Director of exploration companies with both on-shore and offshore projects, as well as for an institutional investor and as a director of Australia's largest Lloyd's of London underwriting agency. Mr. Kwan Chee Seng will step back from his role as alternate director to the Company's Chairman, Foo Fatt Kah, having been a director of the Company since February 2009. As a serial entrepreneur and investor, he will now focus on his other business interests in Asia and Europe. Having continued his investment in Variscan during the last capital raise, Kwan Chee Seng remains a significant and long-term supportive shareholder of Variscan. Mr. Mark Pitts joined the Board in September 2018 and in consequence of Mr. Fyfe's appointment he has agreed to retire from the Board as a Non-Executive Director in order for Variscan to maintain a small and cost-effective Board of Directors. He will however continue in his role as Company Secretary.