Sun Silver Appoints Andrew Dornan MD, Targets 423Moz Silver Resource Expansion

Leadership Reshuffle to Drive Growth

Sun Silver Limited (ASX: SS1) has announced a significant leadership restructuring aimed at propelling the company through its next growth phase. Co-founder and major shareholder Andrew Dornan has been appointed Managing Director, bringing over two decades of mining and exploration experience to the helm. Complementing this, seasoned corporate lawyer Shaun Hardcastle joins as Non-Executive Chairman, enhancing the board’s governance and strategic oversight capabilities.

The leadership changes come as Sun Silver intensifies its focus on the Maverick Springs Silver-Gold Project in Nevada, a high-potential asset located near world-class mining operations such as Barrick’s Carlin Mine. The project boasts a substantial JORC Inferred Mineral Resource of 253.3 million ounces of silver and 2 million ounces of gold, with the deposit remaining open for expansion.

Andrew Dornan: A Proven Growth Architect

Dornan’s appointment is a strategic move to leverage his extensive background in advancing mining projects from exploration to production. His previous leadership roles at James Bay Minerals, Newmont, Rio Tinto, and Fortescue underscore a track record of delivering shareholder value and managing complex project lifecycles. At James Bay Minerals, he notably led the company from inception to the acquisition of an advanced gold project in Nevada, experience directly relevant to Sun Silver’s ambitions.

In his new role, Dornan has outlined a clear priority: upgrading the resource classification at Maverick Springs and systematically advancing the project’s development. His leadership is expected to catalyse exploration activities and unlock value, positioning Sun Silver as a formidable player in the silver sector amid growing industrial demand driven by applications like photovoltaic cells.

Governance Strengthened with Shaun Hardcastle

Hardcastle’s appointment as Non-Executive Chairman brings deep expertise in corporate governance and legal frameworks, critical as Sun Silver navigates growth and capital markets. As a partner and head of corporate at Hamilton Locke, and with prior ASX board experience, Hardcastle is well-equipped to guide the company through complex corporate structures and shareholder engagement.

His role will be pivotal in overseeing the company’s strategic direction and ensuring robust governance standards as Sun Silver seeks to expand its resource base and enhance shareholder returns.

Board Transition and Incentives

The board also sees Dean Ercegovic transition to a Non-Executive Director role, maintaining continuity in strategic oversight. Meanwhile, former Executive Director Gerard O’Donovan has stepped down, marking a reshuffle that aligns leadership with the company’s evolving priorities.

To incentivize performance aligned with growth objectives, the company proposes issuing 8 million performance rights to Dornan and Hardcastle, contingent on shareholder approval at the upcoming AGM. These rights are tied to milestones including resource upgrades and share price targets, underscoring a commitment to value creation.

Maverick Springs: A Tier-1 Silver-Gold Asset

Located in Nevada, the world’s top-ranked mining jurisdiction per the Fraser Institute, Maverick Springs offers a compelling resource base with significant upside potential. The project’s proximity to established mines and its substantial silver equivalent ounces position Sun Silver to capitalize on a structural market deficit in silver driven by industrial demand.

With the deposit still open along strike and at depth, the company’s exploration strategy under Dornan’s leadership aims to convert inferred resources into higher confidence categories, a critical step toward development and eventual production.