SUREFIRE RESOURCES NL — Board/Management Information 2024

May 12, 2024

APPOINTMENT OF CHIEF EXECUTIVE OFFICER

Surefire Resources NL (ASX:SRN) (Surefire or the Company) is pleased to announce the appointment of Mr Jan De Jager as Chief Executive Officer (CEO) effective as of today.

Jan is a highly experienced mining execuƟve with a proven track record in listed internaƟonal mining companies.

He has more than 25 years' experience across operaƟonal, finance, commercial, strategy and business development roles and has held senior leadership roles in AVZ Minerals, Covalent Lithium; Roy Hill and Xstrata Nickel in Australia. He has also worked at Sasol Mining in South Africa where he was responsible for private equity deals and business restructuring.

In his career, Jan gained extensive experience in various greenfield and brownfield projects from scoping stage into producƟon where he was inƟmately involved with deal structuring and project financing.

Vladimir Nikolaenko, Surefire's Executive Chairman, said "The Board and I are delighted with the appointment of Mr De Jager and considers him to be a valuable addition to the Surefire team. He will greatly assist in aggressively progressing and advancing the Company's key vanadium projects at Victory Bore and Unaly Hill, Perenjori Iron Ore, its Yidby Gold discovery and Kooline Silver-Lead project".

Commenting on his appointment, Jan said: "It is a privilege to be entrusted to lead Surefire as its next CEO and I look forward to the opportunity of driving the progression of Surefire to its full value and the realisation of substantial increase in value to its stakeholders from all of the Company's projects, particularly from its world class vanadium deposit during a period where the world seriously needs sustainable production of critical minerals more than ever before."

In accordance with ASX Listing Rules, Surefire advises that the key terms of Mr De Jager's engagement through his consulting company, X2 Consulting Pty Ltd, are as follows:

• Total contractual payments of $330,000 per annum (inclusive of statutory superannuation entitlements);
• The contract agreement is for an ongoing term but having an initial probationary term of 90 days, with either party being able to terminate the agreement at any time with one month's notice after that period. The agreement contains standard terms and conditions for arrangements of this nature, including confidentiality, and retention of

intellectual property;

• He will be entitled to be issued with a total of 30,000,000 Options 91 days after his commencement date;
• The Options will expire on the date which is the earlier of two years from that date of issue, or ceasing to be employed in the designated role as CEO;
• Each Option will be exercisable at a price (Nominated Exercise Price), calculated as being 25% higher than the 1 intra-day Volume Weighted Average Price (VWAP) of ASX:SRN on the ASX trading day immediately before the day of commencement (Nominated Share Price);
• The Options shall vest upon the following milestones being achieved:
  • o An initial 10,000,000 Options shall vest upon the 10-day VWAP of ASX:SRN shares being at or above a price which is 50% greater than the Nominated Share Price;
  • o A further 10,000,000 Options shall vest upon the 10-day VWAP of ASX:SRN shares being at or above a price which is 100% greater than the Nominated Share Price; and
  • o A further 10,000,000 Options shall vest upon the 10-day VWAP of ASX:SRN shares being at or above a price which is 200% greater than the Nominated Share Price.

For all enquiries, please contact Vladimir Nikolaenko on +61 8 6331 6330.

Authorised for ASX release by the Board of Surefire Resources NL.

About Surefire Resources:

Surefire Resources is an Australian mineral exploration company based in Perth, Western Australia (WA). The company holds mineral exploration licences over Vanadium, Magnetite and Gold projects located in WA.