Cassius Announces Management and Director Change and Stock Option Grant

Cassius Ventures Ltd. (NEX: CZ.H) (the “Company”) announces the retirement of Chairman, CEO and President, Mr. John Thomas, and the concurrent appointment of Mr. Gerrie van der Westhuizen as Chairman, CEO and President of the Company.  Mr. Van der Westhuizen is a seasoned mining executive.

Mr. Thomas remains a significant supporter and shareholder of the Company and the Board and management wishes him all the best on his retirement.  

In connection with Mr. Van der Westhuizen’s appointment, the board of directors of the Company approved the granting of 250,000 incentive stock options pursuant to the Company’s Stock Option Plan. The options will be exercisable at a price of $0.03 per share (based on the closing price on October 19, 2023), vesting over four quarters and with an expiry date of October 19, 2028.

About Gerrie van der Westhuizen

Gerrie van der Westhuizen has more than 20 years' experience in the mining and natural resources industry. During this time, Mr. Van der Westhuizen held progressively senior positions in dual-listed resource companies operating in Africa and North America. He has played a leading role in those organizations' debt and equity financings, M&A activities, tax planning, treasury management, corporate governance and strategic risk management. Mr. Van der Westhuizen currently serves as Chief Financial Officer and Corporate Secretary of Artemis Gold Inc. (“Artemis”) and of Oceanic Iron Ore Corp. He also currently serves as Artemis' representative on the Board of Directors of Velocity Minerals Ltd. Mr. Van der Westhuizen is a Chartered Accountant and holds an Honours Bachelor of Accountancy degree. 

CASSIUS VENTURES LTD. On behalf of the Board of Directors

Gerrie van der Westhuizen, CPA, CA Chairman, CEO and President [phone]

Neither the NEX nor its Regulation Services Provider (as that term is defined in the policies of the NEX) accepts responsibility for the adequacy or accuracy of this release.