IRIS METALS LIMITED — Director's Dealing 2024

Aug 27, 2024

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ASX:IR1 - ASX RELEASE I 28 August 2024

Appendix 3Y -Change of Director’s Interest Notice

IRIS Metals Limited (ASX: IR1) (“IRIS” or “the Company”) attaches an Appendix 3Y ‘Change of Director Interest Notice for Mr Peter Marks ( Appendix 3Y ).

Acquisition of Shares by Mr Marks

Mr Marks, through an associated superannuation fund, has acquired 105,000 shares in the Company between 23-27 August 2024 (“Share Acquisition”) as outlined in the attached Appendix 3Y.

These shares were acquired at a price range between $0.19 and $0.20, for a total consideration of $20,650.00.

The Share Acquisition is disclosed within the required timeframe under the Listing Rules in the attached Appendix 3Y.

Performance Rights

In preparing the Appendix 3Y, it has come to the attention of the Company that the lapsing of 700,000 Performance Rights on 30 June 2024 (“Performance Rights”) had not been updated at the time through the lodgement of an Appendix 3Y ‘Change of Director Interest Notice.

All required disclosures relating to the change in securities were made in other required ASX disclosures such as an Appendix 3H released on 4 July 2024.

The Company advises:

1. The noted lapsing of the Performance Rights has been included in the attached Appendix 3Y, and therefore lodged late due to the Administrative Oversight by the Company;

2. The Company advises that it is aware of its Listing Rules obligations in relation to these disclosures and specifically Listing Rules 3.19A and 3.19B;

3. The Company has in place a set procedure to ensure that the Company and its Directors are able to meet their disclosure obligations under Listing Rules 3.19A and 3.19B. These procedures have been reinforced to ensure future compliance and reporting as required under the Listing Rules; and

IRISMETALS.COM

ASX:IR1

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1. The Company has reviewed its procedures and considers they are adequate for ensuring timely notification.

The Company advises that the Appendix 3Y that follows reflects Mr Marks’ current holding in the Company, including the recent Share Acquisition.

ENDS

This announcement was approved for release by the Company Secretary of Iris Metals.

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 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

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.

Competent Persons Statement:

The information in this announcement that relates to exploration results is based on information reviewed by Matt Hartmann, IRIS’ President of U.S. Operations, and a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) (318271), a Registered Member of the Society for Mining, Metallurgy and Exploration (RM-SME) (4170350RM). Matt Hartmann is an exploration geologist with over 20 years’ experience in mineral exploration, including lithium exploration and resource definition in the western United States, and has sufficient experience in the styles of mineralisation and type of deposit under consideration and to the activity undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Matt Hartmann has consented to the inclusion in this Public Report of the matters based on his information in the form and context in which it appears.

IRISMETALS.COM

ASX:IR1

Appendix 3Y Change of Director's Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX becomes ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	IRIS Metals Limited
ABN	61 646 787 135

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of director	Peter Marks
Date of last notice	26 September 2023

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	(1) Indirect (2) Direct
Nature of indirect interest (including registered holder)	(1) SHANTI CAPITAL PTY LTD SUPERFUND A/C> (Super fund beneficiary) (2) N/A
Date of change	(1) 23 - 27 August 2024 (2.1) N/A (2.2) N/A (2.3) N/A (2.4) 30 June 2024 (2.5) N/A (2.6) N/A (2.7) N/A (2.8) N/A

• See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director's Interest Notice

	Appendix 3Y Change of Director's Interest Notice
No. of securities held prior to change	(1) 300,000 - ORDINARY FULLY PAID SHARES (2.1) 2,200,000 - ORDINARY FULLY PAID SHARES (2.2) 1,000,000 - UNLISTED OPTIONS @$0.40 EXP 31/07/25 VESTED (2.3) 1,000,000 - UNLISTED OPTIONS @$0.40 EXP 31/07/25 VEST 27/09/2023 (2.4) 700,000 - PERFORMANCE RIGHTS - CLASS A - VESTING 30/06/2024 - ESC 24M (2.5) 700,000 - PERFORMANCE RIGHTS - CLASS B - VESTING 14/06/2025 - ESC 24M (2.6) 700,000 - PERFORMANCE RIGHTS - CLASS C - VESTING 31/12/2024 - ESC 24M (2.7) 700,000 - PERFORMANCE RIGHTS - CLASS D - VESTING 30/06/2025 - ESC 24M (2.8) 700,000 - PERFORMANCE RIGHTS - CLASS E - VESTING 30/06/2026 - ESC 24M
Class	(1) ORDINARY FULLY PAID SHARES (2.1) ORDINARY FULLY PAID SHARES (2.2) UNLISTED OPTIONS @$0.40 EXP 31/07/25 VESTED (2.3) UNLISTED OPTIONS @$0.40 EXP 31/07/25 VEST 27/09/2023 (2.4) PERFORMANCE RIGHTS - CLASS A - VESTING 30/06/2024 - ESC 24M (2.5) PERFORMANCE RIGHTS - CLASS B - VESTING 14/06/2025 - ESC 24M (2.6) PERFORMANCE RIGHTS - CLASS C - VESTING 31/12/2024 - ESC 24M (2.7) PERFORMANCE RIGHTS - CLASS D - VESTING 30/06/2025 - ESC 24M (2.8) PERFORMANCE RIGHTS - CLASS E - VESTING 30/06/2026 - ESC 24M
Number acquired	(1) 105,000 ORDINARY FULLY PAID SHARES (2.1) NIL (2.2) NIL (2.3) NIL (2.4) NIL (2.5) NIL (2.6) NIL (2.7) NIL (2.8) NIL

• See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 2

Appendix 3Y Change of Director's Interest Notice

	Appendix 3Y Change of Director's Interest Notice
Number disposed	(1) NIL (2.1) NIL (2.2) NIL (2.3) NIL (2.4) (700,000) PERFORMANCE RIGHTS - CLASS A - VESTING 30/06/2024 - ESC 24M (2.5) NIL (2.6) NIL (2.7) NIL (2.8) NIL
Value/Consideration	(1) FROM $0.19 - $0.20 PER ORDINARY FULLY PAID SHARES (OR AVERAGE OF $0.1967 PER ORDINARY FULLY PAID SHARES OR TOTAL CONSIDERATION OF $20,650.00) (2.1) N/A (2.2) N/A (2.3) N/A (2.4) $NIL - LAPSING PERFORMANCE RIGHTS - CLASS A - VESTING 30/06/2024 - ESC 24M (2.5) N/A (2.6) N/A (2.7) N/A (2.8) N/A
No. of securities held after change	(1) 405,000 - ORDINARY FULLY PAID SHARES (2.1) 2,200,000 - ORDINARY FULLY PAID SHARES (2.2) 1,000,000 - UNLISTED OPTIONS @$0.40 EXP 31/07/25 VESTED (2.3) 1,000,000 - UNLISTED OPTIONS @$0.40 EXP 31/07/25 VEST 27/09/2023 (2.4) NIL - PERFORMANCE RIGHTS - CLASS A - VESTING 30/06/2024 - ESC 24M (2.5) 700,000 - PERFORMANCE RIGHTS - CLASS B - VESTING 14/06/2025 - ESC 24M (2.6) 700,000 - PERFORMANCE RIGHTS - CLASS C - VESTING 31/12/2024 - ESC 24M (2.7) 700,000 - PERFORMANCE RIGHTS - CLASS D - VESTING 30/06/2025 - ESC 24M (2.8) 700,000 - PERFORMANCE RIGHTS - CLASS E - VESTING 30/06/2026 - ESC 24M

• See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 3

Appendix 3Y Change of Director's Interest Notice

Nature of change	(1) ON MARKET ACQUISITIONS (2.1) N/A (2.2) N/A (2.3) N/A (2.4) OPTIONS LAPSED (2.5) N/A (2.6) N/A (2.7) N/A (2.8) N/A

Part 2 - Change of director's relevant interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration	N/A
Interest after change	N/A

Part 3 -[+] Closed period

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required?	NO
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 4