• Robe River JV submits revised non-binding, indicative and conditional offer to acquire CZR's Robe Mesa Iron Ore project
• Revised offer removes condition to negotiate asset sale agreement with Zanf Pty Ltd
• CZR Board continues to recommend Fenix's offer, in absence of superior proposal

CZR Resources Ltd (ASX: CZR) has received a revised non-binding, indicative and conditional offer from the participants in the Robe River Iron Associates Joint Venture (Robe River JV) to acquire CZR's interest in the tenements comprising its Robe Mesa Iron Ore project for cash consideration of A$75 million. The revised offer removes the previous condition to negotiate and execute an asset sale and purchase agreement with Zanf Pty Ltd for the acquisition of CZR's interest in the Robe Mesa Iron Ore project and associated transaction documents. All other terms and conditions of the original Robe River JV proposal remain unchanged. CZR will continue to keep the market informed of any further material developments in relation to the revised Robe River JV proposal. Despite the revised offer, the CZR Board continues to unanimously recommend that all CZR shareholders accept Fenix's offer, in the absence of a superior proposal. CZR directors holding CZR shares have already accepted Fenix's offer.