TORONTO, ON / ACCESSWIRE / July 9, 2024 / NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") announces the appointment of Jaco Crouse as Chief Financial Officer (CFO) of the Company as part of its global growth strategy.

Mr. Crouse today replaces Marc Johnson who has served as CFO since October 2015. Mr. Johnson will continue to provide consulting services to the Company to assist with the smooth transition of this role. The Board of Directors of the Company would like to thank Mr. Johnson for his service to the Company over the years and wishes him well in his future endeavours.

Mr. Crouse joins NextSource from the position of CFO and Executive Director of Amaroq Minerals (a TSX and LSE listed company) and brings a wealth of experience in mergers and acquisitions, capital and debt markets, financial reporting and the development and execution of business strategies.

Mr. Crouse has over 20 years' experience in publicly listed natural resource companies. Mr. Crouse previously served as CFO at Metals Acquisition Corp, where he completed the purchase of the CSA copper mine in Australia from Glencore, and as CFO at Detour Gold Corporation. Mr .Crouse was the former Chief Financial Officer at Triple Flag Precious Metals (a royalty and streaming company) and worked at Barrick Gold Corporation in Toronto and in the Nickel Trading division at Glencore in Baar Switzerland. Mr. Crouse also held various positions within Xstrata plc between December 2002 to November 2013, including as General Manager of Business Optimisation in the Nickel Division.

Mr. Crouse studied Accounting Sciences at the University of South Africa and is a qualified Chartered Accountant in Ontario (CPA) and South Africa (CA(SA)). He is also a registered Financial Risk Manager (FRM).

About NextSource Materials Inc.

NextSource Materials Inc. is a battery materials development company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.

The Company's Molo Graphite Mine in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake? graphite. The Molo Graphite Mine has begun production, with Phase 1 mine operations currently undergoing ramp-up to reach its nameplate production capacity of 17,000 tpa of graphite concentrate.

The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, outside of existing Asian supply chains, in a fully transparent and traceable manner.