Resignation of Chief Executive Officer

25 November 2020

Highland Gold Mining Limited ("Highland Gold" or the "Company") today reports with regret that Chief Executive Officer Denis Alexandrov has tendered his resignation from the Company, effective 01 December 2020.

During his tenure, Mr Alexandrov has overseen a period of sustained success at Highland Gold, including a 14% increase in annual production, record revenues, and substantial progress on expansion projects at both our existing mines and at new development projects like Kekura. The Directors would like to put on record their thanks to Denis for his service to the Company and wish him well in his future endeavours.

Commenting on his departure, Denis Alexandrov said: “I would like to thank everyone at Highland Gold, as well as our investors and stakeholders, for their support and cooperation over the past five years. It has been my pleasure to work with such a dedicated team and to contribute to the progress at the Company.”

Highland Gold Chairman Vladislav Sviblov will serve as acting Chief Executive Officer.

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