Canyon Resources Limited

Appointment of Non-exec Director Dean HortonNon-exec Director Dean Horton

PERTH, Australia, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Canyon Resources Limited (ASX: CAY) (‘Canyon’ or the ‘Company’) is pleased to announce the appointment of Mr. Dean Horton as Non-Executive Director commencing his role on 19 February 2025. Mr. Horton’s appointment supports the Board’s strategy of attracting and building a proven, diversified and highly-credentialed team of industry professionals who can grow and develop the Company’s Minim Martap Bauxite Project, located in Cameroon, through development and into production.

Mr. Horton is a senior corporate finance professional with over 25 years of international experience in the development and financing of energy, natural resource and infrastructure projects. Mr. Horton has held senior roles with leading financial institutions across Australia, Africa, the Gulf Region, Hong Kong and Indonesia. An emerging markets expert, Mr. Horton brings a network of international relationships spanning sovereigns and financial institutions across renewable energy, natural resources, and sustainable investment sectors.

Mr. Horton previously served as Group Manager of Funding at Fortescue, where he led the team responsible for corporate finance solutions for decarbonisation, the global portfolio of domestic and international green energy development projects and offshore iron ore projects in Africa.

Prior to his tenure at Fortescue, Mr. Horton held several positions at the National Australia Bank. As General Manager of Group Corporate Development, Mr. Horton spearheaded NAB’s entry into Indonesia, obtaining regulatory approvals and leading M&A initiatives. In addition, Mr. Horton led the establishment of a Hong Kong based project finance team supporting over US$ 7 billion in infrastructure, energy and mining projects across Asia and the Gulf, and was a member of the corporate finance/ special situations team at Ahli United Bank, managing a US$3.5 billion global emerging market portfolio.

Most recently, Mr. Horton was the Chief Financial Officer of Greatland Gold (LON: GGP) where he supported the significant equity and working capital raise, and associated hedging, for the US$475 million Telfer and Havieron acquisition from Newmont.

A Zambian national, Mr. Horton holds a Bachelor of Commerce in Banking and Finance, with Honours, and his thesis on modelling Australian interest rates was published by the Australian Economic Review in 1999.

Mark Hohnen, Executive Chairman of Canyon commented: “We are delighted to welcome Dean as Non-Executive Director, with his appointment bringing significant project financing expertise and international leadership, which will be increasingly invaluable as we continue to grow and develop our world-class Minim Martap Bauxite Project into production.

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“Attracting and appointing someone of Dean’s calibre is testament to Canyon’s reputation within the bauxite industry and exciting future prospects for the Company, as we make rapid progress toward production. Dean’s experience across international jurisdictions and strong relationships within the global natural resources sector will provide critical support as we enter this next phase of exciting growth and set the foundations for the Company as a near-term bauxite producer.

“The Board is committed to ensuring that Minim Martap is positioned to become a tier-one, long term bauxite producer, delivering strong and sustainable value for all stakeholders. Dean’s appointment further strengthens our leadership at a pivotal time and we look forward to working with him as we continue to build momentum towards production.”

This announcement has been approved for release by the Canyon Resources’ Board of Directors.

Enquiries:  Jean-Sebastien Boutet Cameron Gilenko Chief Executive Officer Investor Relations & Media Canyon Resources Limited Sodali & Co T +61 8 6385 2263 T +61 6160 4909 E: [email protected] [email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a3305866-5217-4f9f-a18f-3fdca5b6d347

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