Decklar Resources Inc. (TSX-V: DKL) (OTCQX: DKLRF) (FSE: A1U1) (the “Company” or “Decklar”) is pleased to announce the appointment of Mr. Oluwasanmi Famuyide to the role of Chief Executive Officer (“CEO”) of the Company. Mr. Duncan Blount has stepped down as CEO but will remain on Decklar’s Board of Directors as an independent non-executive director.

Appointment of New Chief Executive Officer

Decklar is pleased to announce the appointment of Mr. Oluwasanmi “Sanmi” Famuyide as CEO of the Company.

Mr. Famuyide has over 20 years of experience structuring and executing on oil, gas and infrastructure transactions across Africa. He has worked as Managing Director of Decklar Petroleum (Nigeria) Limited since its founding, where he led the asset acquisition transactions resulting in the Company’s current portfolio of three risk service assets in Nigeria. Sanmi has performed the role of asset manager and has been directly involved in and responsible for key stakeholder engagements. His previous roles include Head of Business Development at Lekoil Limited, Head of Investment Banking Coverage at FBN Capital and Head of Oil & Gas – Marginal Fields and Independents at Guaranty Trust Bank.

Mr. Famuyide has an MSc in Applied Environmental Economics from the Imperial College London, and a BSc in Chemical Engineering from the University of Lagos. Confirmation of Mr. Famuyide’s appointment is subject to TSX-V approval.

Duncan Blount to Continue as Director

Mr. Duncan Blount has stepped down as CEO of Decklar effective immediately and will continue to serve on Decklar’s board of directors as a non-executive director. The Company sincerely thanks Mr. Blount for his important contributions as CEO throughout the early development of the Company, the acquisition of the Company’s risk service assets, and inception of the Company’s operations in Nigeria. Decklar is pleased to retain Duncan as a director. His knowledge and experience with Decklar’s operations and global oil & gas markets will continue to be valuable to the Company.

For further information:

Oluwasanmi FamuyideChief Executive Officer Telephone: +234 703 332 2265Email: sanmi@decklarresources.com

David HalpinChief Financial Officer Telephone: +1 403 816 3029Email: david.halpin@decklarresources.com

Investor Relations: info@decklarresources.com

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

Cautionary Language

Certain statements made and information contained herein constitute "forward-looking information" (within the meaning of applicable Canadian securities legislation. All statements in this news release, other than statements of historical facts, are forward-looking statements. Such statements and information (together, "forward looking statements") relate to future events or the Company's future performance, business prospects or opportunities.

All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect, "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. These forward-looking statements involve risks and uncertainties relating to, among other things, counterparty risk, changes in oil prices, results of exploration and development activities, competition in the oil and gas industry, uninsured risks, energy transition risks, regulatory changes, defects in title, availability of materials and equipment, timeliness of government or other regulatory approvals, actual performance of facilities, availability of financing on reasonable terms, availability of third party service providers, equipment and processes relative to specifications and expectations and unanticipated environmental impacts on operations. Actual results may differ materially from those expressed or implied by such forward-looking statements.

The Company provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not assume the obligation to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

 

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