IRON BEAR RESOURCES LTD — Regulatory Filings 2021

Aug 30, 2021

31 August 2021

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– Success with Lady Ethleen Metallurgical test work Program Clarification Announcement

Cyclone Metals Limited ( ASX: CLE ) ( Cyclone Metals or the Company ) wishes to provide a clarification in respect to its announcement released on 24 August 2021 titled “Success with Lady Ethleen Metallurgical Test Work Program)”.

The announcement omitted to make reference to the announcements released by the Company on 22 April 2021 (Update on Lady Ethleen Metallurgical Testwork Program) and 30 July 2021 (Market Update) which contains all information pertaining to the drilling and sampling used in the metallurgical testwork detailed in the announcement dated 24 August 2021.

The announcement also omitted to include a competent person statement as outlined below:

The information in this report is compiled and collected by Mr Olaf Frederickson, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Frederickson has sufficient experience that is relevant to the style of mineralization, and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration, Results, Mineral Resource and Ore Reserves (JORC Code 2012). Mr Frederickson consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

This announcement has been approved by the Company’s board of directors.

Yours faithfully Cyclone Metals Limited

Terry Donnelly Non-Executive Chairman

For further information please contact:

Investor Relations Follow us +61 (0) 8 9380 9555 @cyclonemetals ir@cyclonemetals.com cyclone-metals