Thundelarra Limited announced its new growth strategy and changes to its board and management. The board has further unanimously agreed that the implementation of this strategy will be best achieved under new leadership with the appropriate mine development skill sets. Accordingly, the Company has agreed with its Chief Executive Officer, Tony Lofthouse that his Executive Services Agreement with the Company will come to an end on 30 April 2019.

This period prior to his departure will enable orderly transition as work on focusing on the new strategy progresses. Mr. Lofthouse, who has been Chief Executive Officer of the Company since 2 April 2012, will receive a payment equal to six months' remuneration pursuant to the terms of his Executive Service Agreement together with accrued statutory entitlements. The Company announced the appointment of Mr. Philip Bruce as an additional Non-executive Director with effect from 1 March 2019.

Mr. Philip G Crabb will step down as Chairman of the Company at the close of the Company's upcoming Annual General Meeting, but will remain as a Non-executive Director. Mr. Rick Crabb, will be appointed a Chairman of the Company. Existing Executive Director, Mr. Frank DeMarte will remain as director, Company Secretary and Chief Financial Officer.

Existing Non-executive Independent Director, Mr. Malcolm Randall, will remain as a director.