• Mr. Jonathan Downes resigns as Managing Director after 5 years
• Mr. Brad Valiukas appointed as new Managing Director
• Downes led Kaiser's transformation to profitable gold producer
• Valiukas brings 25+ years of operational and production expertise

Kaiser Reef Limited (ASX: KAU) has announced that Mr. Jonathan Downes has resigned as Managing Director after five years of leadership, during which he established Kaiser as a profitable Australian gold producer. The Board expresses its gratitude for Mr. Downes' significant contributions and welcomes Mr. Brad Valiukas as the new Managing Director, effective immediately. Mr. Downes founded Kaiser and guided its transformation from an early-stage explorer to a robust gold producer with a strong asset base. Under his leadership, Kaiser acquired key assets including the Maldon Goldfield, Maldon Processing Facility, A1 Gold Mine and the Henty Gold Mine in Tasmania. He also built a portfolio of exploration opportunities, positioning the Company with long-term growth. Mr. Downes has decided to step down to pursue new opportunities, leaving Kaiser with a solid foundation for future success. Kaiser is pleased to appoint Mr. Brad Valiukas as Managing Director. Mr. Valiukas brings over 25 years of extensive operational and production expertise, having held senior roles in several ASX-listed mining companies including Northern Star Resources (ASX:NST). The Board is confident that this appointment will enhance Kaiser's operational performance and is a reflection of a new phase of growth and production delivery for the Company.