IRIS METALS LIMITED — Capital/Financing Update 2025

Dec 8, 2025

ASX:IR1 - ASX RELEASE 9 December 2025

UPCOMING OPTION EXPIRY

HIGHLIGHTS

• Upcoming expiry of 500,000 options, exercisable at $1.20, expiring 31 January 2026

IRIS Metals Limited ( ASX : IR1, “IRIS” or “the Company”) advises that the following unlisted options are due to expire as noted below:

ASX UnquotedSecurities	Number of Options	Exercise Price	Expiry Date
IR1AK	500,000	$1.20	31 January2026

Any participant wishing to exercise their options must forward a completed option exercise form and payment prior to 5.00pm (AEDT) on the expiry date. The Company will despatch an option exercise form to each holder of these options, as requested, should they wish to exercise their options.

ENDS

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

For further information, please contact:

IRIS METALS

INVESTORS & MEDIA

Peter Marks Melissa Tempra E. admin@irismetals.com E. melissa@nwrcommunications.com.au

About IRIS Metals (ASX:IR1)

IRIS Metals (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 located 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

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