IRON BEAR RESOURCES LTD — Director's Dealing 2023

Apr 16, 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	19 October 2020

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 tothe relevant interest.	(1) Halle Woody Pty Ltd < The Woody S/FA/C>, a company and fund controlled byMr Turner.(2) Marnichar Nominees Pty Ltd ATF theHallemar Trust
Date of change	17 April 2023
No. of securities held prior to change	Indirect: (1)3,723,000 Fully Paid Ordinary SharesIndirect: (2)22,000,000 Fully Paid Ordinary Shares
Class	Fully paid ordinary shares
Number acquired	16,666,667
Number disposed	Nil

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Value/ConsiderationNote: If consideration is non-cash, provide details andestimated valuation	$0.0015 per share
No. of securities held after change	Indirect: (1)3,723,000 Fully Paid Ordinary SharesIndirect: (2)38,666,667 Fully Paid Ordinary Shares
Nature of changeExample: on-market trade, off-market trade, exercise ofoptions, issue of securities under dividend reinvestmentplan, participation in buy-back	Conversionofdebtfollowingreceiptofshareholder approval at the General Meetingheld on 6 April 2023 (Resolution 6).

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

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed No above traded during a[+] closed period where prior written clearance was required?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

If so, was prior written clearance provided to allow the tradeto proceed during this period?	N/A
If prior written clearance was provided, on what date was thisprovided?	N/A

17 April 2023

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3