Australian Vanadium Limited (ASX: AVL, “the Company” or “AVL”) announces that Managing Director, Mr Vincent Algar, will retire from the Board of the Company on 14 July 2023. He will continue in a transition role for the next few months, as the Company continues to develop the Australian Vanadium Project (“the Project”).

Chair of the Board, Cliff Lawrenson comments, “Under Vincent’s outstanding leadership, AVL has progressed the Project successfully through the exploration and study phases, which has provided the Company with an exceptionally deep technical understanding of what it will take to liberate and deliver product in an efficient and sustainable manner. The outlook for vanadium in both the steel and energy storage markets appears increasingly compelling as global decarbonisation becomes the single biggest priority for the world.

“Vincent’s retirement completes the management transition which began with the appointment of Graham Arvidson as Chief Executive Officer¹. The changes we have made to the Board and the management transition are integral to ensuring we have the skills and experience in place across the Company for the construction and operation of the Project under the Chief Executive Officer’s leadership.

“On behalf of the Board, I would like to thank Vincent for his vision and enormous contribution to AVL and look forward to remaining close friends as the Company continues to advance this exceptional opportunity.”

Mr Algar comments, “Since joining AVL nearly nine years ago, the Company’s focus has been on successfully advancing the Project through the resource development and feasibility phases and developing downstream opportunities. We have defined a robust project and assembled a team with deep expertise across the vanadium industry value chain. I am very proud of our achievements and excited by the bright future of AVL as an integral part of a successful vanadium industry in Western Australia. I look forward to finalising the leadership transition over the next few months as Graham and the team continue the AVL journey.”

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