12 September 2021 Investor Update

Iron & Copper Projects - Chala Metals

12 September 2021

Dear Shareholders

It is with regret that the Board accepted the resignation of Andrew Bristow as its Chairman. Andrew has made a solid contribution to the company during his tenure as Chairman and his decision to resign for personal reasons is disappointing for us all. We trust that he may be able to assist Chala in the future in a legal capacity and we wish him well for the future. Mark Newton will resume his earlier role as Executive Chairman and CEO.

Thank You.