TUNGSTEN MINING NL — Board/Management Information 2022

Aug 11, 2022

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12 August 2022

ASX ANNOUNCEMENT

Mr Teck Wong Appointed Executive Director

Australian tungsten developer, Tungsten Mining NL (ASX: TGN) (“Tungsten Mining” or “the Company”) advises that the CEO, Mr Craig Ferrier has elected to step down from full time involvement with the Company.

The Chairman Mr Gary Lyons commented,

“ Craig has been CEO of the Company since August 2014. He has achieved a tremendous amount of growth in the company over that period including the acquisition of Mt Mulgine Tungsten Project, the Big Hill Project, the Watershed Project and an interest in the Hatches Creek Polymetallic Project, a major contribution was the completion of a positive Prefeasibility Study on Mt Mulgine and declaration of a maiden Ore Reserve.

He leaves Tungsten Mining with adequate funding and progressing steadily down a value engineering path reviewing processing opportunities and working through the various environmental and other approval processes for the development of the Mt Mulgine Tungsten Project.

Craig has elected to pursue personal interests but importantly will be consulting to the Company moving forward. The Board is pleased to have to his continued involvement on a consulting basis, thanks Craig for his guidance over the last eight years and wishes him well in his future endeavours. ”

In the interim, the Board has appointed current Non-executive Director, Mr Teck Wong as an Executive Director and interim CEO with effective from 9 August 2022. Mr Lyons stated that;

“ Mr Wong has a Bachelor of Business degree from Swinburne University (Melbourne) and has considerable international business experience having worked in Hong Kong, the United Kingdom, Malaysia and Indonesia. He has previously been involved in the iron ore industry and in the sales and export of steel related products and has a number of high level contacts in the south east Asian markets.

The Board is very pleased that Mr Wong is able to step into the CEO role in an interim capacity whilst the Board looks to fill the role with a permanent replacement . Discussion on Mr Wong’s proposed remuneration is ongoing and will be announced once resolved.”

-ENDS-

For further information: Gary Lyons Mark Pitts Chairman Company Secretary Ph: +61 8 9486 8492 Ph: +61 8 9316 9100 E: garylyons@heiniger.com.au E: mark.pitts@tungstenmining.com.au

This ASX announcement was authorised for release by Gary Lyons, Chairman of Tungsten Mining NL.

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About Tungsten Mining

Australian tungsten developer, Tungsten Mining NL is an Australian based resources company listed on the Australian Securities Exchange.

Tungsten (chemical symbol W), occurs naturally on Earth, not in its pure form but as a constituent of other minerals, only two of which support commercial extraction and processing - wolframite ((Fe, Mn) WO4) and scheelite (CaWO4).

Tungsten has the highest melting point of all elements except carbon – around 3400°C giving it excellent high temperature mechanical properties and the lowest expansion coefficient of all metals. Tungsten is a metal of considerable strategic importance, essential to modern industrial development (across aerospace and defence, electronics, automotive, extractive and construction sectors) with uses in cemented carbides, high-speed steels and super alloys, tungsten mill products and chemicals.

Through exploration and acquisition, the Company has established a globally significant tungsten resource inventory in its portfolio of advanced mineral projects across Australia. This provides the platform for the Company to become a major player within the global primary tungsten market through the development of lowcost tungsten concentrate production.

Appendix

Material terms of Mr Wong’s current remuneration

Term
Commencement date 9 August 2022
Role Executive Director and Interim Chief Executive
Term Until terminated under normal commercial terms
Total Fixed Remuneration $80,0001
Notice Period The appointment may be terminated with one months notice by either party.

1The Board has resolved to review the remuneration payable to Mr Wong during the period of his Executive Directorship and interim CEO role, the Board anticipates agreeing to revised terms in the near term. Until then Mr Wong’s remuneration as set out above represents his current agreed director fees.