IRON BEAR RESOURCES LTD — Capital/Financing Update 2024

Jan 18, 2024

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

CYCLONE METALS LIMITED

Date of this announcement

Friday January 19, 2024

The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
CLEAP	OPTION EXPIRING 05-DEC-2025 EX $0.005	20,000,000	19/01/2024
CLEAQ	OPTION EXPIRING 05-DEC-2024 EX $0.003	20,000,000	19/01/2024

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

CYCLONE METALS LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

71095047920

1.3 ASX issuer code

CLE

1.4 The announcement is

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New announcement

1.5 Date of this announcement

19/1/2024

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B that are not quoted, and are not intended to be quoted, on ASX

Previous Appendix 3B details:

Announcement Date and	Announcement Title	Selected Appendix 3B to submit quotation
Time		request
09-Jan-2024 12:29	New - Proposed issue of securities -	A placement or other type of issue
	CLE

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? No

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 3A - number and type of +securities the subject of this notification (existing class or new class) where issue has previously been notified to ASX in an Appendix 3B

Placement Details

ASX +security code and description CLEAQ : OPTION EXPIRING 05-DEC-2024 EX $0.003 Date the +securities the subject of this notification were issued 19/1/2024 Any other information the entity wishes to provide about the +securities the subject of this notification Issue details

Number of +securities 20,000,000 Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities Issue of options to a consultant of the Company for services provided

ASX +security code and description CLEAP : OPTION EXPIRING 05-DEC-2025 EX $0.005

Date the +securities the subject of this notification were issued 19/1/2024

Any other information the entity wishes to provide about the +securities the subject of this notification

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Issue details

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Number of +securities

20,000,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Issue of options to a consultant of the Company for services provided

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities 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)

	Total number of
ASX +security code and description	+securities on issue
CLE : ORDINARY FULLY PAID	10,471,171,567
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
CLEAM : OPTION EXPIRING 22-FEB-2025 EX $0.003	30,000,000
CLEAK : OPTION EXPIRING 31-MAR-2024 EX $0.006	25,000,000
CLEAN : OPTION EXPIRING 18-OCT-2024 EX $0.002	100,000,000
CLEAO : OPTION EXPIRING 05-DEC-2026 EX $0.01	210,000,000
CLEAP : OPTION EXPIRING 05-DEC-2025 EX $0.005	260,000,000
CLEAQ : OPTION EXPIRING 05-DEC-2024 EX $0.003	520,000,000
CLEAL : OPTION EXPIRING 30-JUN-2024 EX $0.005	6,250,000

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

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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