Australian Strategic Materials Ltd, advises that Mr. Ian Chalmers, Non-Executive Director, is retiring from the Board as of 1 March 2022 and has accordingly tendered his resignation as a director of ASM. Mr. Chalmers was responsible for bringing the Company's project, the Dubbo Project, into the group in 1987 and, has overseen the development of the project over decades. Mr. Chalmers is one of the founding directors of ASM (18 March 2014) which listed on the ASX via IPO in 2020.

He has overseen, with tenacity, the development of the Dubbo Project and the creation of shareholder and stakeholder value where ASM enjoys market capitalisation in excess $1.1 billion. The Company is looking to retain Mr. Chalmers in an ongoing technical advisory role.