• Founding Managing Director Gareth Solly to step down in 2026
• James Bruce appointed as new Managing Director effective 1 April 2026
• James has blend of technical and investment experience to lead Black Cat's growth

Black Cat Syndicate Limited (ASX:BC8) announces that Gareth Solly, the founding Managing Director, will be stepping down from the role in 2026 after 8 years of leading the company. Effective 1 April 2026, James Bruce has been appointed as the new Managing Director to lead and deliver Black Cat's next phase of growth. Gareth has guided the company from its inception as an early-stage explorer to a successful multi-site gold producer, establishing two operating sites and advancing two further projects while maintaining a strong balance sheet. Under his leadership, Black Cat's resources and reserves have grown significantly. The Board is pleased to appoint James Bruce as the new Managing Director, citing his blend of technical and investment experience that positions him well to lead the company's growth. James has a career spanning both operational and financial aspects of the resources sector, including roles as a mining contractor, underground engineer, portfolio manager, and resources analyst. Gareth will continue as Managing Director until James commences in the role, and will then transition to a Non-Executive Director role to provide ongoing guidance and advice as the company targets further growth to become a 200,000oz pa gold producer and beyond.

Black Cat is targeting significant expansion and cash generation as it aims to grow into a 200,000oz pa gold producer and beyond.

The company is well-positioned for its next phase of growth and value creation under the leadership of the new Managing Director, James Bruce.