IRON BEAR RESOURCES LTD — Director's Dealing 2023

Dec 4, 2023

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 become ASX’s property and may be made public.

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

Name of entity CYCLONE METALS LIMITED ABN 71 095 047 920

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	Timothy Turner
Date of last notice	17 April 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	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	(1) Halle Woody Pty Ltd < The Woody S/F A/C>, a company and fund controlled by Mr Turner. (2) Marnichar Nominees Pty Ltd ATF the Hallemar Trust
Date of change	5 December 2023
No. of securities held prior to change	Indirect: (1) 3,723,000 Fully Paid Ordinary Shares Indirect: (2) 38,666,667 Fully Paid Ordinary Shares
Class	Unlisted Class A Incentive Options ($0.003 expiring 5 December 2024) Unlisted Class B Incentive Options ($0.005 expiring 5 December 2025) Unlisted Class C Incentive Options ($0.01 expiring 5 December 2026)

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number acquired	20,000,000 Unlisted Class A Incentive Options ($0.003 expiring 5 December 2024) 20,000,000 Unlisted Class B Incentive Options ($0.005 expiring 5 December 2025) 10,000,000 Unlisted Class C Incentive Options ($0.01 expiring 5 December 2026)
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Unlisted Class A Incentive Options ($0.003 expiring 5 December 2024) - $0.00012 per option Unlisted Class B Incentive Options ($0.005 expiring 5 December 2025) - $0.00018 per option Unlisted Class C Incentive Options ($0.01 expiring 5 December 2026) - $0.00020 per option
No. of securities held after change	Indirect: (1) 3,723,000 Fully Paid Ordinary Shares Indirect: (2) 38,666,667 Fully Paid Ordinary Shares 20,000,000 Unlisted Class A Incentive Options ($0.003 expiring 5 December 2024) 20,000,000 Unlisted Class B Incentive Options ($0.005 expiring 5 December 2025) 10,000,000 Unlisted Class C Incentive Options ($0.01 expiring 5 December 2026)
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Issue of incentive options following receipt of shareholder approval at the Annual General Meeting held on 29 November 2023 (Resolution 12)

Part 2 – Change of director’s 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

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

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

5 December 2023

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3