Scorpion Minerals Limited appointed Michael Fotios as Chief Executive Officer with immediate effect. Mr. Fotios is widely regarded as a lithium industry pioneer, having been one of the first Australian mining executives to identify the potential of the battery minerals sector. Mr. Fotios has an extensive and successful track record of taking projects from discovery through to development and production.

More specifically in the lithium sector, he was a founder and former Managing Director of both Galaxy Resources Ltd. and General Mining Corporation Ltd, which now form part of the newly merged entity Allkem. Mr. Fotios has been mandated by the Board of SCN to advance the Company's Youanmi and Pharos Projects in the Murchison Region of Western Australia, as well as pursue and develop additional project opportunities that complement SCN's existing strategy. Michael Fotios is a geologist specialising in economic geology, with extensive experience across a variety of minerals.

He is principal consultant to Obsidian Metals Group Pty Ltd, which was appointed as technical advisor to Scorpion in April 2022 and was responsible for the introduction of the Youanmi Lithium Project to the Company. As founding Managing Director of Galaxy Resources Ltd. ("Galaxy"), Mr. Fotios oversaw the progression of the future Mt Cattlin Mine from a maiden mineral resource estimate through to the bankable feasibility study stage. Michael later served as Executive Chairman of General Mining Corporation Ltd. ("GMM"), which entered into a joint venture with Galaxy to profitably mine Mt Cattlin and establish GMM as an independent supplier of spodumene concentrate to the global lithium market.

Mr. Fotios was joined on the Board of GMM by Mr. Michael Kitney, a current director of Scorpion. Mr. Fotios' tenure at GMM included the creation of significant shareholder value, culminating in the acquisition of GMM by Galaxy in 2016 in a transaction valued at $216 million. Galaxy's subsequent merger with Orocobre Ltd. (now Allkem Ltd) produced the fifth-largest global lithium producer.

With associated entities, Mr. Fotios was also a long-term substantial shareholder in Liontown Resources Ltd. during the exploration phase of the Kathleen Valley Lithium Project.