Challenger Exploration announced the Appointment of Mr. Brett Hackett, Australian Ambassador to Argentina, until January 2023 to the Challenger Board as a Non-Executive Director. The company announced the appointment of Dr. Sonia Delgado as Argentina Country Manager. Sonia has a Master's Degree in labour law and is the former Secretary of Mining of the Province of San Juan, Argentina.

The company announced the appointment of Mike Zivcic as Company COO. Mike is a mining engineer and was the General Manager of Barrick's ~400 kOz Veladero mine, located in San Juan, Argentina, prior to joining CEL. Brett has 33 years of experience as an Australian diplomat.

For the last 13 years, his principal focus has been on expanding Australia's economic and political relationships with the counties of Latin America. He has served as Ambassador on three occasions; as Australia's first resident Ambassador in Afghanistan (2006-2008), as Ambassador to Brazil (2011-2014), and most recently as Ambassador to Argentina (2018-2023). Dr. Sonia Delgado graduated with honours as a lawyer and has a Master's degree in labour law from the National University of Cordoba.

Her work experience in the private sector began in 2004 when she opened her own law firm specialising in Argentinian Labour law which she has maintained until her appointment by Challenger. Over a distinguished career in the Argentinian public sector, Sonia has occupied positions including: Assistant Office of the State Prosecutor of the Province of San Juan; Undersecretary of Planning and Promotion of Mining Development; Chief of Advisors (Argentina National Mining Ministry) and, most recently, Secretary of Mining for the province of San Juan, Argentina. Sonia was appointed as Vice President and local Director of the Company's wholly owned Argentinian subsidiary in December 2022 and for the past 6 months Sonia has been consulting to CEL via her private law firm, managing all non-geology related matters at Hualilan.

This has included: permitting and the award of several additional exploration licences expanding Hualilan; Human Resources and Labour; and, the Company's Environmental and Community Program. The Company is delighted that Sonia has agreed to accept the full-time role as Country Manager for Argentina. Mr. Zivcic is a resident of San Juan, Argentina, where he has lived since 2020.

Mike is an Australian citizen, and has dual Bachelor's Degrees in Engineering (Mining) and Science (Geology) from the University of Queensland. He has spent the past 12 years in operational and technical roles in mines in Australia, West Africa, Papua New Guinea, and most recently Argentina. Prior to joining the Company Mike was the General Manager of the Veladero mine.

The Veladero mine is also located in the San Juan province of Argentina and is a 50:50 joint venture between the Canadian Barrick Gold Corporation ("Barrick") and Chinese Shandong Gold Mining Corporation, and is operated by Barrick. Veladero is a large open pit mining and heap leach processing operation, which in 2022 produced just under 400,000 ounces of gold. Prior to joining Barrick, Mike held mining technical and operational leadership roles in Papua New Guinea with Harmony Gold Corporation, and in Burkina Faso and Guinea-Conakry with Nordgold.

Mike holds a West Australian Quarry Manager's Certificate of Competency, is a Member of the Australian Institute of Mining and Metallurgy (AusIMM), and is a Graduate Member of the Australian Institute of Company Directors (AICD), having completed the Company Director Course in 2010. Mike's extensive operational and technical mining experience, coupled with his recent leadership experience in Argentina and extensive local networks, provide an excellent foundation to lead the development of the Company's Hualilan project, located in the same San Juan province of Argentina. Mike will take carriage of the current Hualilan Scoping Study, where he has been advising the Company since February, and the subsequent Prefeasibility and Bankable Feasibility Studies.

He will also be responsible for the Hualilan Project's eventual construction and subsequent operation. Mike's role will also encompass similar responsibilities for the Company's El Guayabo Project in Ecuador. Resignation of Scott Funston as Director of the Company In line with Corporate Governance guidelines for a majority of Non-Executive Directors, it has been resolved that Mr. Scott Funston will step down from the board effective 4 May 2023.

Mr. Funston will continue as an executive of the Company in his capacity as Chief Financial Officer and Company Secretary.