• CZR received unsolicited, non-binding offer from Robe River JV to acquire its Robe Mesa Iron Ore project for A$75 million
• Offer subject to conditions including due diligence, asset sale agreement, and shareholder approval
• CZR continues to recommend Fenix's offer, but will engage with Robe River JV on their proposal

CZR Resources Ltd (ASX: CZR) has received an unsolicited, confidential, non-binding and conditional proposal from the participants in the Robe River Iron Associates Joint Venture (Robe River JV) to acquire CZR's interest in the Robe Mesa Iron Ore project for cash consideration of A$75 million. The Robe River JV Proposal is subject to several conditions, including due diligence access, satisfactory due diligence, negotiation and execution of an asset sale agreement, receipt of required third-party and regulatory approvals, and CZR shareholder approval. The Robe River JV has stated that it wishes to obtain the support of significant CZR shareholders and is willing to consider providing additional debt funding. CZR has determined that the Robe River JV Proposal is a Potential Competing Proposal that could reasonably be expected to lead to a Superior Proposal, and as such, CZR intends to engage with Robe River JV. However, CZR's Board continues to unanimously recommend that CZR shareholders accept Fenix's offer, in the absence of a Superior Proposal.