IRON BEAR RESOURCES LTD — Share Issue/Capital Change 2023

Feb 21, 2023

ASX

Announcement

22 February 2023

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ISSUE OF SECURITIES

Cyclone Metals Limited (ASX: CLE ) ( Cyclone or the Company ), advises that it has issued 412,800,000 fully paid ordinary shares ( Shares ) pursuant to a placement (refer ASX announcement 19 January 2023). In addition, the Company has issued 60,000,000 fully paid ordinary shares ( Shares ) and 30,000,000 unlisted options (exercise price $0.003 each expiring 22 February 2024) in respect to the acquisition of tenement P47/1812 (refer ASX announcement 28 December 2022).

A completed Appendix 2A and Appendix 3G has been lodged together with this announcement.

Notice Under Section 708A(5)(e) of the Corporations Act 2001

In respect of the Shares, Cyclone gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Act ) of the following:

1. The Shares were issued without disclosure under Part 6D.2 of the Act;

2. As at the date of this notice, the Company has complied with: (a) the provisions of Chapter 2M of the Act as they apply to the Company; and

   • (b) section 674 and 674(A) of the Act; and

3. As at the date of this notice, there is no information to be disclosed which is excluded information (as defined in section 708A(7) of the Act) that is reasonable for investors and their professional advisers to expect to find in a disclosure document.

Announcement authorised for release by the board of Cyclone.

ENDS

For further information please contact:

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