BUXTON RESOURCES LIMITED — Board/Management Information 2023

Aug 8, 2023

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ASX Release

9[th] August 2023

CHANGES TO BUXTON’S EXECUTIVE TEAM

Buxton Resources Ltd (ASX:BUX) (“Buxton” or “the Company”) announces that it’s Managing Director and CEO, Eamon Hannon, will be stepping down from his role to take up a non-executive position.

Mr. Hannon has been with Buxton for nine years, during which time he has overseen the Company's transformation from a pure exploration company to one with two world-class development projects, an ASX 100 major shareholder/Joint Venture Partner IGO Ltd, plus a portfolio of high quality exploration assets.

"Buxton is now at a critical juncture," said Mr. Hannon. "We have two exciting development projects that require significant investment and strategic focus. I believe that this is the right time for me to step back and allow a new leader to take the Company into its next phase of growth."

Mr. Hannon will be succeeded by Martin Moloney as Interim CEO. Marty has been with Buxton for four years in the roles of Chief Geologist and Head of Resources.

Mr. Hannon will remain on the Buxton board of directors and will continue to provide his support to the Company.

Seamus Cornelius, Buxton's Chairman, said: "Eamon joined Buxton in July 2014 and has shepherded the Company through many challenges and exciting opportunities in the nine years since. He steps aside leaving a Company in very good order, still with only 171 million shares on issue after 17 years listed on the ASX, tens of millions of dollars spent on BUX projects during his tenure, and a strong project pipeline. The Board offer heartfelt thanks to Eamon for his efforts, drive, and commitment over the years to get us to this point."

Mr. Cornelius also thanked Mr. Moloney for stepping up as interim CEO. "Marty is a highly experienced mining executive with a deep understanding of Buxton," he said. "I am confident that he will provide the strong leadership that the company needs at this time."

This announcement is authorised by the Board.

PO Box 661 Suite 1, First Floor T. 08-9380 6063 www.b uxtonre source s.com.au Nedlands WA 6009 14-16 Rowland Street E. info@buxtonresources.com.au Subiaco WA 6008

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For further information, please contact:

Martin Moloney Interim CEO marty@buxtonresources.com.au

Sam Wright Company Secretary sam@buxtonresources.com.au

Buxton provides the material terms of the executive services agreement with Interim CEO Marty Moloney and NED Eamon Hannon, in accordance with Listing Rule 3.16.4

uxton provides the material terms of the executive services agreement with InterimEO Marty Moloney and NED Eamon Hannon, in accordance with Listing Rule 3.16.4	uxton provides the material terms of the executive services agreement with InterimEO Marty Moloney and NED Eamon Hannon, in accordance with Listing Rule 3.16.4
Material terms of employment agreement with Martin Moloney
Appointment	As Interim Chief Executive Officer(CEO)
Commencement andTerm	The appointment of the Interim CEO commences with effect on 8 August 2023and continues until terminated in accordance with the agreement.
Base Salary	$270,000p.a.(plus statutorysuperannuation)
Probation Period	Employment as Interim CEO will begin with a three (3) month probationaryperiod concludingon 8 November 2023
Incentives	Mr Moloney is eligible for various incentives that may be issued subject torelevant approvals.
Possible Bonus	The executive will be entitled to a cash bonus of $500,000 upon the Companyhaving a market capitalisation of at least $50,000,000 over 3 months on whichthe Company’s shares have actuallytraded
Termination	Either party may terminate without cause on 3 months written notice. Buxtonmayelect topay3 months base salaryand superannuation in lieu of notice.

Material terms of employment agreement with Eamon Hannon
Appointment	As Non-Executive Director(NED)
Commencement andTerm	The appointment of the NED commences with effect on 8 August 2023 andcontinues until terminated in accordance with the agreement.
Base Salary	$40,000p.a.(plus statutorysuperannuation)
Incentives	Mr Hannon is eligible for various incentives that may be issued subject torelevant approvals.
Termination	Either party may terminate without cause on 3 months written notice. Buxtonmayelect topay3 months base salaryand superannuation in lieu of notice.

T. 08-9380 6063 www.b uxtonre source s.com.au E. info@buxtonresources.com.au

Suite 1, First Floor 14-16 Rowland Street Subiaco WA 6008

PO Box 661 Nedlands WA 6009