IRON BEAR RESOURCES LTD — Capital/Financing Update 2023

Jan 16, 2023

Market Announcement

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17 January 2023

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Cyclone Metals Limited (ASX: CLE) – Trading Halt

Description

The securities of Cyclone Metals Limited (‘CLE’) will be placed in trading halt at the request of CLE, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Thursday, 19 January 2023 or when the announcement is released to the market.

Issued by

Ben Dawson

Adviser, Listings Compliance

Market Announcement 1/1 ASX Customer Service Centre 131 279 | asx.com.au

17 January 2023 ASX Limited

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17 January 2023

ASX Compliance Pty Ltd Level 40 Central Park 152-158 St Georges Terrace Perth WA 6000

Via email (tradinghaltsperth@asx.com.au)

Request for Trading Halt,

Pursuant to Listing Rule 17.1 Cyclone Metals Limited ( ASX: CLE ) ( Cyclone or the Company ) hereby requests an immediate trading halt be granted by the Australian Securities Exchange ( ASX ) in respect of its securities.

The trading halt is requested pending an announcement regarding a proposed capital raising by the Company.

Cyclone requests that the trading halt remain in place until the earlier of the commencement of normal trading on Thursday 19 January 2023 or until the release of an announcement in respect of the above matter.

The Company is not aware of any reason why the trading halt should not be granted.

Should you have any queries regarding the above request please do not hesitate to contact the undersigned.

Thank you for your assistance.

Yours faithfully Cyclone Metals Limited