Sierra Nevada Gold (ASX:SNX) has appointed its Chief Executive Officer Adam Oehlman to the Board as Managing Director, effective immediately, the company disclosed on 11 November 2026.

Key Points

  • Adam Oehlman appointed Managing Director effective immediately, having served as CEO of SNX since 11 June 2026
  • Remuneration set at $370,000 per annum, excluding mandatory superannuation contributions
  • Long-term incentive package comprises 15,000,000 shares across four performance tranches, unchanged from arrangements disclosed on 11 June 2026
  • Phase 2 drilling at As Safra Copper-Gold Project in Saudi Arabia comprises more than 25,000m of RC and diamond drilling plus approximately 13.5km of trenching, with five rigs now on site
  • Initial assay results from Phase 2 expected to be reported later in November 2026

Board Appointment of Adam Oehlman as Managing Director

Adam Oehlman has been appointed to the Board of Sierra Nevada Gold as Managing Director, in addition to his existing role as Chief Executive Officer. Mr Oehlman was first appointed CEO on 11 June 2026. His remuneration is set at $370,000 per annum, excluding mandatory superannuation contributions, with a three-month notice period. His short-term incentive remains unchanged, subject to achievement of Board-approved KPIs and Board approval. His long-term incentive package, also unchanged, comprises 15,000,000 shares across four performance tranches, as previously disclosed. Mr Oehlman invested $250,000 in the company's recent placement, according to the filing.

As Safra Copper-Gold Project Phase 2 Drilling Program

Sierra Nevada Gold commenced Phase 2 drilling at its As Safra Copper-Gold Project in Saudi Arabia in September, initially with two diamond rigs and one RC rig. Two additional diamond rigs have since been mobilised, bringing the total fleet to five rigs operating on site. The Phase 2 program comprises more than 25,000m of RC and diamond drilling combined with approximately 13.5km of trenching and sampling. Drilling is expanding into district-scale discovery targets, including untested magnetic, gravity and IP anomalies, concealed mineralised systems and priority gold targets. Bulldozer trenching is also underway across a prospective corridor extending over 12km.

Phase 1 Results and Project Funding

Mr Oehlman oversaw the completion of the Phase 1 drill program at As Safra, which the company said confirmed a coherent copper mineralised system across the more than 800m Central Copper Zone. A second copper system was identified at As Safra Southeast, with the broader 5.5km mineralised corridor described as still largely untested. Sierra Nevada Gold completed a $12.3 million Share Placement in August 2026 to fund exploration at As Safra, with a separate $0.55 million placement to directors and current and former management approved by shareholders in October. Mr Oehlman has experience having led African Gold Limited through a corporate transaction valued at more than A$550 million.