IRIS METALS LIMITED — Share Issue/Capital Change 2023

May 11, 2023

Application for quotation of +securities

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Announcement Summary

Entity name

IRIS METALS LIMITED

Announcement Type

New announcement

Date of this announcement

Friday May 12, 2023

The +securities to be quoted are:

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+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
IR1	ORDINARY FULLY PAID	500,000	12/05/2023

Refer to next page for full details of the announcement

Application for quotation of +securities

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Application for quotation of +securities

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Part 1 - Entity and announcement details

1.1 Name of entity

IRIS METALS LIMITED

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type

ABN

Registration number 61646787135

1.3 ASX issuer code

IR1

1.4 The announcement is

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New announcement

1.5 Date of this announcement

12/5/2023

Application for quotation of +securities

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Application for quotation of +securities

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Part 2 - Type of Issue

2.1 The +securities to be quoted are:

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+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B

Previous Appendix 3B details:

Announcement Date and	Announcement Title	Selected Appendix 3B to submit quotation
Time		request
23-May-2022 10:16	New - Proposed issue of securities - IR1	A placement or other type of issue

2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B?

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Yes

2.3a.3 Please provide details of the further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B

1,500,000 shares: consulting agreement, vesting in equal tranches at the 24,36 & 48 month anniversary from the commencement date of the consulting agreement.

Application for quotation of +securities

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Application for quotation of +securities

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Part 3A - number and type of +securities to be quoted where issue has previously been notified to ASX in an Appendix 3B

Placement Details

ASX +security code and description IR1 : ORDINARY FULLY PAID Issue date 12/5/2023

Distribution Schedule

Provide a distribution schedule for the new +securities according to the categories set out in the left hand column - including the number of recipients and the total percentage of the new +securities held by the recipients in each category.

		Total percentage of +securities held
Number of +securities held	Number of holders	For example, to enter a value of 50%
		please input as 50.00
1 - 1,000		%
1,001 - 5,000		%
5,001 - 10,000		%
10,001 - 100,000		%
100,001 and over		%

Application for quotation of +securities

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Application for quotation of +securities

Issue details

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Number of +securities to be quoted

500,000

Are the +securities being issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Consulting agreement, as IRIS South Dakota in country manager, to assist IRIS in a Business Development capacity and progress its South Dakota Project. Refer to ASX Release dated 23 May 2022.

Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted

500,000.000000

Any other information the entity wishes to provide about the +securities to be quoted

Valuation above is based on a price of $1.00 per share.

Application for quotation of +securities

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Application for quotation of +securities

Part 4 - Issued capital following quotation

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Following the quotation of the +securities the subject of this application, the issued capital of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +securities (total number of each +class of +securities quoted on ASX following the +quotation of the +securities subject of this application)

		RDINARY FULLY PAI	D
	2 Un	oted +securities (t	tal number of each +cl	ss of +securities issue	d but not uot	d on ASX)
	. q qASX +security code and descriptionTotal number+securities on issIR1AC : ORDINARY FULLY PAID RESTRICTED36,350,0IR1AD : OPTION EXPIRING 15-SEP-2024 RESTRICTED3,750,0IR1AE : OPTION EXPIRING 15-OCT-2024 EX $0.30500,0IR1AH : OPTION EXPIRING 31-JUL-2025 RESTRICTED18,500,0IR1AI : OPTION EXPIRING 31-JUL-2025 EX NIL8,000,0IR1AG : OPTION EXPIRING 15-SEP-2024 RESTRICTED2,000,0				q
						Tota

4.2 Unquoted +securities (total number of each +class of +securities issued but not quoted on ASX)

Application for quotation of +securities

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