Locksley Resources Announces Immediate Resignation of MD Kerrie Matthews Amid Mutual Separation Agreement

Details of Kerrie Matthews’ Resignation and Mutual Separation Agreement

Locksley Resources confirmed that Kerrie Matthews has resigned from her positions as Managing Director, CEO, and director effective immediately. The departure was the result of a mutual separation agreement between Ms Matthews and the company, indicating a jointly agreed exit. The announcement did not provide further specifics on the terms or conditions of the separation.

The Board formally recognized Ms Matthews’ dedication to advancing Locksley’s strategic goals, strengthening stakeholder relationships, and progressing its critical minerals strategy. Well-wishes were extended for her future endeavors. The duration of her tenure as Managing Director and CEO was not disclosed.

Locksley Resources’ Strategic Focus on Critical Minerals in California

Based in Perth, Locksley Resources Limited is focused on critical minerals development within the United States. Its flagship project, the Mojave Project in southeastern California, targets rare earth elements (REEs) and antimony. This aligns with broader U.S. policy efforts to establish domestic supply chains for essential critical materials.

The company pursues a mine-to-market strategy for antimony, aiming to rebuild domestic supply chains by integrating resource development with advanced processing and separation technologies. Locksley has formed strategic downstream technology partnerships with leading U.S. research institutions and industry collaborators to support this approach. By operating across the value chain from extraction to processing, the company is positioning itself to contribute to U.S. critical minerals independence. The Mojave Project’s location is depicted in the company’s project location map.

Leadership and Governance Update Post-Resignation

Following Ms Matthews’ immediate departure from executive and directorial roles, Locksley Resources has not disclosed interim leadership arrangements or whether an acting Managing Director or CEO has been appointed. The Board’s approach to managing executive responsibilities during this transition remains undisclosed. Investors are likely awaiting further updates on leadership continuity.

Bevan Tarratt, Chairman of Locksley Resources, authorized the announcement. The Board did not provide details on its composition, independent directors, or governance structure in this release. Stakeholders may look for future communications clarifying succession planning and governance arrangements.

Potential Effects on Mojave Project Development Timeline

The Mojave Project is Locksley Resources’ main development initiative targeting rare earth elements and antimony. The sudden resignation of the Managing Director and CEO raises questions about the project’s momentum and whether upcoming milestones or development activities could be affected. The company has not disclosed current exploration status, development studies, or next steps.

Locksley’s integrated mine-to-market strategy involves partnerships with U.S. research institutions and industry players, indicating active technology development. The leadership change occurs amid this strategic execution, prompting investor attention on possible impacts to project progress, partnerships, or capital market activities. No guidance has been provided on effects to timelines or strategic direction.

Multi-Exchange Listings and Investor Reach

Locksley Resources is publicly traded on multiple exchanges: Australian Securities Exchange (ASX:LKY), OTCQX (LKYRF), Frankfurt Stock Exchange (FSE: X5L), and holds an American Depositary Receipt (ADR) listing under LKYLY. This diversified listing strategy expands investor access across Australia, the U.S., and Europe. The company’s head office is located at Level 7, 84 Fitzgerald Street, Northbridge, Perth, Western Australia 6000.

The multi-market presence reflects an active investor relations program and a geographically diverse shareholder base. The announcement was simultaneously released across these markets. Bevan Tarratt (Chairman) and Melissa Tempra (Investor & Media Relations) serve as points of contact for further inquiries.

Critical Minerals Strategy Emphasizing Antimony Supply Chain

Locksley Resources prioritizes critical minerals with a focus on antimony within its mine-to-market strategy. Antimony is a critical material for various industrial uses and supply chain security discussions. The company aims to help re-establish domestic U.S. supply chains for critical materials, aligning with national priorities on resource security and domestic processing capabilities.

The integrated strategy combines upstream resource development at the Mojave Project with downstream technology partnerships involving U.S. research institutions and industry collaborators. These partnerships support processing, separation, and potential end-use applications for antimony and rare earth elements. Locksley’s vertically integrated model positions it competitively within critical minerals development. Specific technology partners, timelines, or milestones were not disclosed.

Rare Earth Elements as a Secondary Commodity Focus

Alongside antimony, the Mojave Project targets rare earth elements (REEs), essential for high-tech applications such as renewable energy, defense, electronics, and advanced manufacturing. The U.S. government identifies REEs as critical materials requiring domestic supply development to reduce foreign dependency. Locksley’s dual focus on REEs and antimony reflects the strategic importance of both commodities.

The Mojave Project is positioned as a multi-commodity development site supporting extraction and processing of both material types. The company has not disclosed resource estimates, economic weighting, or processing methods in this announcement. Interested investors are encouraged to consult prior disclosures or contact the company directly.

Sector Context and U.S. Domestic Supply Chain Policies

Operating within the critical minerals sector, Locksley Resources aligns with increasing policy emphasis on resource security in developed economies, especially the U.S. Its goal to advance U.S. critical minerals independence supports national objectives to reduce reliance on international supply for materials vital to security, clean energy, and manufacturing. Government support and regulatory facilitation have prioritized domestic critical minerals development.

Locksley’s U.S.-focused development strategy and technology partnerships integrate it within the domestic innovation ecosystem. The Mojave Project’s California location aligns with policy preferences for continental U.S. mineral development. Investors in the critical minerals space may monitor Locksley’s strategic positioning amid evolving policy and market dynamics.

Investor Relations and Future Communications

For further information, Locksley Resources provides contact details: Chairman Bevan Tarratt (+61 8 6285 7855) and Investor & Media Relations Melissa Tempra (+61 (0) 417 094 855). Additional updates may be available via these contacts, the company’s registered office, or its website at locksleyresources.com.au. Investors should watch for forthcoming announcements on leadership succession, project progress, or strategic changes.

The immediate resignation of the Managing Director and CEO constitutes a significant governance event warranting investor and analyst attention. The company has not announced plans or timing for appointing a successor. Market participants will likely seek updates on interim management, leadership continuity, and confirmation that the Mojave Project’s development remains on track. The announcement includes contact information for inquiries related to the leadership change.