CRITICAL RESOURCES LIMITED — Board/Management Information 2020

Jul 20, 2020

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21 July 2020

ASX Announcements Office 152–158 St Georges Terrace Perth WA 6000 Australia

APPOINTMENT OF NEW CEO

Force Commodities Limited ( Force or the Company ) ( ASX Code: 4CE ) is pleased to announce the appointment of Simon Pooley as Chief Executive Officer ( CEO ).

Simon has demonstrated the skills and experience to rebuild the Company and develop it through the next phase of business growth.

Simon Pooley is a geologist with over thirty years of broad international experience encompassing roles in the corporate, mine development, operations, and exploration areas. Simon has held senior industry positions that have demonstrated leadership and management of base and precious metal exploration and mining operations, development of project assessment types including definitive/bankable feasibility studies and their conversion into mining operations and managed teams undertaking exploration evaluations and valuations.

Simon is a member of the Australasian Institute of Mining and Metallurgy and is a graduate of the Australian Institute of Company Directors. His career includes work for Dominion Mining, Ashton Mining and Rio Tinto covering commodities as diverse as gold, base metals, diamonds and industrial minerals. He has helped lead a number of mining operation start-ups from exploration through to construction and production.

Mr Pooley is currently a Non-Executive Director with Superior Resources Limited (ASX:SPQ).

Force’s Chairman, Jess Oram comments; “ we are very pleased to have Simon driving the next phase of growth to develop value for all stakeholders. His experience in building gold and copper mines, from advanced exploration through to operations compliments the development plans of the Company”.

Terms of employment of CEO

In accordance with ASX Listing Rule 3.16.4, Force makes the following disclosures in respect of the key terms of the employment agreement entered into with its Chief Executive Officer, Mr Simon Pooley.

• Permanent Full Time – No fixed term

• Three Months Probationary Period, where 7 days’ notice can be given by either party

• Following the Probationary Period either party can terminate upon 3 months written notice

• Force may terminate Mr Pooley’s position for serious misconduct

Force Commodities Ltd | Unit 47, First Floor, 1008 Wellington Street, West Perth, WA, 6005 | P: +61 8 6117 3860 | web:forcecommodities.com.au | Email: admin@forcecommodities.com.au | ABN 12 145 184 667 | ASX:4CE

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• The Employment will be terminated if the Employee abandons his employment for a period of 3 working days without notifying the Company

• The Company may also terminate the Employment of the Employee if, as a result of injury or illness the Employee is:

o absent from work for more than 3 months in a 12-month period; and

o incapable of the ongoing performance of their duties.

• Total Fixed Salary $180,000 per year including statutory superannuation

• Performance Bonuses during the term of the employment:

  • Issue of 1.5 million shares upon the share price being greater 3 cents and less than 4.5 cents based on a 10-day VWAP

  • Issue of 2.5 million shares upon the share price being greater than 4.5 cents based on a 10-day VWAP

• The Salary shall be reviewed annually by the Company in accordance with the policy of the Company for the annual review of salaries.

This announcement is authorised by Jess Oram, Non-Executive Chair

Contact:

Jess Oram Non-Executive Chair Force Commodities Limited Tel: +61 (0) 8 6117 3860 Email: jess.oram@forcecommodities.com.au

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