Kasiya Discovery Lead Julian Stephens Resigns From Sovereign Board, Stays as Consultant

Dr. Julian Stephens, who first identified rutile mineralization in Malawi and led the team that discovered Sovereign Metals' Kasiya deposit, has resigned as a Non-Executive Director, effective October 2, 2026, and will continue to provide consulting services to the company.

Company Overview

Sovereign Metals Limited (ASX: SVM | AIM: SVML | OTCQX: SVMLF) is the owner and operator of the Kasiya Critical Minerals Project in Malawi, positioned to supply natural rutile, natural graphite, and a monazite Rare Earth Concentrate (REC) by-product into the United States (US) and allied supply chains. Kasiya provides exposure to 3 minerals designated as critical by the US: titanium (via natural rutile), graphite, and rare earths (via the REC by-product).

Board Change

Stephens resigned as a Non-Executive Director (NED) of Sovereign, effective immediately, on October 2, 2026. Following his resignation, he will continue to provide consulting services to the company.

Role in the Kasiya Discovery

Stephens was Managing Director from June 2016 until October 2023, a period in which Sovereign describes him as instrumental in the company's growth and development. He first identified rutile mineralization in Malawi, subsequently led the team that discovered the Kasiya deposit, and progressed the project through its scoping and pre-feasibility study stages.

He moved to the NED role in October 2023 and continued to support Sovereign's technical and management teams. Sovereign's Board thanked Stephens for his long-standing and significant contribution over more than a decade.

Next Steps

Stephens will continue to provide consulting services to Sovereign following his resignation from the board. The Board said it looks forward to his continued involvement with the company in that consulting capacity