SUNSTONE METALS LTD — Board/Management Information 2023

Nov 7, 2023

8 NOVEMBER 2023

NON-EXECUTIVE DIRECTOR APPOINTMENT

Sunstone Metals Limited ('Sunstone' or 'Company') (ASX: STM) is pleased to announce the appointment of a new Non-Executive director, Mr Patrick Duffy.

MR PATRICK DUFFY (B.COM, CA)

NON-EXECUTIVE DIRECTOR

Mr Duffy is a Chartered Accountant with extensive international leadership, mine development, financial and governance expertise. Mr Duffy has held the roles of both Chief Corporate Development Officer and Chief Financial Officer for Red 5 Limited (ASX: RED) and is a key member of the Company's leadership team that has established Red 5 as a successful mid-tier Australian gold producer through the development, construction and production ramp up of the new 5.5Mtpa King of the Hills (KOTH) Gold Mine in Western Australia. Mr Duffy's role has had responsibility for all financial, investor relations, business development and strategic activities, securing the global equity and debt funding requirements for the development of the KOTH Project and also facilitating the sale of the Company's Siana Gold Mine in the Philippines.

Mr Duffy began his career with Ernst & Young and has since had broad leadership and executive roles in the international resource sector. He was CFO for the development of Xstrata's US$6 billion Tampakan Copper and Gold Project in the Philippines and was Director – Strategy & Performance for the construction and production ramp up of Glencore Xstrata's US$7 billion Koniambo Nickel Project in New Caledonia. He has worked extensively across Asia and the Pacific with mining and steel companies, including establishing a successful Hong Kong-based management consulting company, and has also had executive roles within mining private equity and the agricultural technology sector.

The Chairman of Sunstone, Mr Graham Ascough, said "It is extremely pleasing to have Patrick join the Company. His wealth of experience and knowledge within the resources industry will be invaluable to Sunstone as it moves forward with our highly prospective projects in Ecuador."

"Both I and my fellow directors look forward to working with Patrick and I'm confident that he will be able to positively contribute to the future success of the Company."

With this new appointment, the Board of Directors is as follows:

• Mr Graham Ascough Non-Executive Chairman
• Mr Malcolm Norris Chief Executive Officer and Managing Director
• Mr Stephen Stroud Non Executive Director
• Mr Patrick Duffy Non Executive Director

An Appendix 3X for Mr Duffy is attached.

For further information please visit www.sunstonemetals.com.au

Rule 3.19A.1

Appendix 3X

Initial Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	SUNSTONE METALS LIMITED
ABN	68 123 184 412

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Patrick Duffy
Date of appointment	8 November 2023

Part 1 - Director's relevant interests in securities of which the director is the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Number & class of securities

2,609,948 Ordinary Shares

+ See chapter 19 for defined terms.

Part 2 – Director's relevant interests in securities of which the director is not the

registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Nameofholder&natureof	Number & class of Securities
interest
Note: Provide details of the circumstances giving riseto the relevant interest.
Not Applicable

Part 3 – Director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	NIL
Nature of interest
Name of registered holder
(if issued securities)
No. and class of securities to which
interest relates

+ See chapter 19 for defined terms.