Cobre Limited announced the appointment of Mr. Adam Wooldridge as Chief Executive Officer (CEO) of the Company effective 8 December 2022. Mr. Wooldridge is currently the CEO of Cobre's wholly owned subsidiary, Kalahari Metals Ltd. Mr. Wooldridge is a founding partner of KML and has played an active role in developing the Company's exploration projects over the last five years. An experienced geophysicist and geologist with over 25 years' experience in Africa, the Middle East and Europe, he has worked in exploration management and consulting positions across a variety of deposit types including base and precious metals.

Adam is a former partner of NRG Geophysical Surveys and was previously employed by BHP working in the Kalahari Copper Belt (KCB). In conjunction with the appointment of Mr. Wooldridge, Mr. Martin Holland will transition from Managing Director and Executive Chairman to Executive Chairman only. Mr. Holland has been instrumental to the success of Cobre and will continue to have a very active and strategic role in the Company as Executive Chairman.

Mr. Holland was a Founder of Cobre and has spent the last four years transitioning and establishing the Company as a leading copper- focused exploration Company with high quality, global copper assets, whilst building a strong board, technical, and management team.