IRON BEAR RESOURCES LTD — Director's Dealing 2024

Dec 8, 2024

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 DirectorDate of last notice	Paul Berend6 December 2024

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	Direct and Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest.	(a) Mrs Anna Sloboda <RCB A/c> (an entity inwhich Paul Berend has a relevant interest)(b) Mr Paul Henry Berend & Mrs Anna Slobada<Corona Australis S/F A/C> (an entity in whichPaul Berend has a relevant interest)(c) Paul Henry Victor Berend as a Trustee forTangaroa Trust (an entity in which Paul Berendhas a relevant interest)
Date of change	6 December 2024
No. of securities held prior to change	Direct1,875,000 fully paid ordinary shares937,500 unlisted options ($0.032 each expiring30 November 2028)Indirect(a) 2,320,000 fully paid ordinary shares(b) 925,834 fully paid ordinary shares(c) 5,000,000 Unlisted Class B IncentiveOptions ($0.10 expiring 5 December 2025)5,000,000 Unlisted Class C Incentive Options($0.20 expiring 5 December 2026)

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Class	Fully paid ordinary shares
Number acquired	2,560,417
Number disposed	Nil
Value/Consideration	$0.016 per share
Note: If consideration is non-cash, provide details and
estimated valuation
No. of securities held after change	Direct
	2,812,500 fully paid ordinary shares
	937,500 unlisted options ($0.032 each expiring
	30 November 2028)
	Indirect
	(a) 3,480,000 fully paid ordinary shares
	(b) 1,388,751 fully paid ordinary shares
	(c) 5,000,000 Unlisted Class B Incentive
	Options ($0.10 expiring 5 December 2025)
	5,000,000 Unlisted Class C Incentive Options
	($0.20 expiring 5 December 2026)
Nature of change	Participation in rights issue
Example: on-market trade, off-market trade, exercise of
options, issue of securities under dividend reinvestment
plan, participation in buy-back

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	N/A
(if issued securities)
Date of change	N/A
No. and class of securities to which	N/A
interest related prior to change
Note: Details are only required for a contract in
relation to which the interest has changed
Interest acquired	N/A
Interest disposed	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Value/Consideration	N/A
Note: If consideration is non-cash, provide details
and an estimated valuation
Interest after change	N/A

Part 3 –[+] Closed period

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

Date: 9 December 2024

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3