Sheffield Resources Limited has initiated amendments to the development strategy of its world-class Thunderbird Mineral Sands Project (`Thunderbird' or `Project'), focused on a change of scale and product mix to significantly reduce capital cost and provide a more readily financeable project scope, alongside measured and appropriate corporate and organisational changes to preserve cash resources. Following a strategic business review, it was determined by the Board to pause the Strategic Partner Process and project financing strategy in its current form, allowing rescoping of the Project to be advanced under a materially lower project capital and corporate cost structure. Mr. David Archer will resign as an Executive Director and will continue in the role of Non-Executive Director as a part of the previously announced ongoing Board renewal process, effective from 28 February 2020. Sheffield continues to review the composition of the Board into 2020 with Mr. Archer along with Non-Executive Chairman Mr. Will Burbury continuing in their non-executive Board roles for a transitional period on a reduced remuneration basis.