IRIS METALS LIMITED — Capital/Financing Update 2024

Dec 5, 2024

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ASX:IR1 - ASX RELEASE I 6 December 2024

Extension of Voluntary Suspension

IRIS Metals Limited (ASX: IR1) ("IRIS" or "the Company") today announced that it is extending the voluntary suspension of its securities until the commencement of trade on Tuesday, 10 December 2024 or such earlier time as IRIS makes an announcement to update the market.

IRIS originally made a request, which was granted, for a voluntary suspension of its securities in accordance with Listing Rule 17.2 on Thursday, 5 December 2024.

The reason for the voluntary suspension is that IRIS requires additional time to finalise its capital raising program, being confirmation of receipt of funds from Stardust Power Inc. (NASDAQ: SDST).

ENDS

This announcement was approved for release by the Board of IRIS Metals Ltd.

For further information, please contact:

COMPANY

INVESTORS & MEDIA

Peter Marks

Melissa Tempra

E. admin@irismetals.com E. melissa@nwrcommunications.com.au

IRISMETALS.COM

ASX:IR1

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About IRIS Metals (ASX: IR1)

IRIS Metals Ltd (ASX: IR1) is an exploration company with an extensive suite of assets considered to be highly prospective for hard rock lithium located in South Dakota, United States (US). The company’s large and expanding South Dakota Project is in a mining friendly jurisdiction and provides the company with strong exposure to the battery metals space, and the incentives offered by the US government for locally sourced critical minerals.

The Black Hills have a long and proud history of mining dating back to the late 1800s. The Black Hills pegmatites are famous for having the largest recorded lithium spodumene crystals ever mined. Extensive fields of fertile LCT-pegmatites outcrop throughout the Black Hills with significant volumes of lithium spodumene mined in numerous locations.

To learn more, please visit: www.irismetals.com

Forward looking Statements:

This announcement may contain certain forward-looking statements that have been based on current expectations about future acts, events and circumstances. These forward-looking statements are, however, subject to risks, uncertainties and assumptions that could cause those acts, events and circumstances to differ materially from the expectations described in such forward-looking statements. These factors include, among other things, commercial and other risks associated with exploration, estimation of resources, the meeting of objectives and other investment considerations, as well as other matters not yet known to IRIS or not currently considered material by the company. IRIS accepts no responsibility to update any person regarding any error or omission or change in the information in this presentation or any other information made available to a person or any obligation to furnish the person with further information.

Not an offer in the United States:

This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.

IRISMETALS.COM

ASX:IR1