IRON BEAR RESOURCES LTD — Director's Dealing 2024

Dec 5, 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 Director	Antony Sage
Date of last notice	7 November 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	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances givingrise to the relevant interest.	Indirect (1):Shares owned by PG Partnership, of which Okewood PtyLtd, a company in which Mr Sage is a director, is amember.Indirect (2):Securities owned by Okewood Pty Ltd, a company inwhich Mr Sage is a director.Indirect (3):Securities owned by Mr Antony William Paul Sage + MrsLucy Fernandes Sage <EGAS Superannuation FundA/C>, of which Mr Sage is a beneficiaryIndirect (4):Jem Holdings Pty Ltd as Trustee for Jem Trust, of whichMr Sage is a beneficiary
Date of change	5 December 2024

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	Indirect (1):12,500 Fully Paid Ordinary SharesIndirect (2):5,000,000 Unlisted Class A Incentive Options ($0.06expiring 5 December 2024)2,500,000 Unlisted Class B Incentive Options ($0.10expiring 5 December 2025)2,500,000 Unlisted Class C Incentive Options ($0.20expiring 5 December 2026)Indirect (3):1,500,000 Fully Paid Ordinary Shares36,502,125 Fully Paid Ordinary SharesIndirect (4):24,635,413 Fully Paid Ordinary Shares
Class	Unlisted Class A Incentive Options ($0.06 expiring 5December 2024)
Number acquired	Nil
Number disposed	5,000,000
Value/ConsiderationNote: If consideration is non-cash, provide detailsand estimated valuation	N/a
No. of securities held after change	Indirect (1):12,500 Fully Paid Ordinary SharesIndirect (2):2,500,000 Unlisted Class B Incentive Options ($0.10expiring 5 December 2025)2,500,000 Unlisted Class C Incentive Options ($0.20expiring 5 December 2026)Indirect (3):1,500,000 Fully Paid Ordinary Shares36,502,125 Fully Paid Ordinary SharesIndirect (4):24,635,413 Fully Paid Ordinary Shares
Nature of changeExample:on-markettrade,off-markettrade,exercise of options, issue of securities underdividend reinvestment plan, participation in buy-back	Expiry of options

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.

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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
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: 6 December 2024

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3