• CZR received a revised non-binding, indicative and conditional proposal from the Robe River Joint Venture
• The revised proposal removes a previous condition to acquire Zanf Pty Ltd's interest in the Robe Mesa Iron Ore project
• CZR directors continue to unanimously recommend that shareholders accept Fenix's takeover offer in the absence of a superior proposal

CZR Resources Ltd (ASX: CZR) has announced that it has received a revised non-binding, indicative and conditional proposal 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 proposal, received on 21 March 2025, removes the previous condition to negotiate and execute an asset sale and purchase agreement with Zanf Pty Ltd for the acquisition of its 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. While CZR engages with the Robe River JV in relation to the revised proposal, CZR's directors continue to unanimously recommend that all CZR shareholders ACCEPT Fenix's takeover offer, in the absence of a Superior Proposal. CZR directors holding CZR shares have already accepted Fenix's offer. As at the date of the third supplementary target's statement, other than the Gold Valley Proposal, the Robe River JV Proposal and the Revised Robe River JV Proposal, no other bona fide alternative or competing proposal to the Fenix Offer has been made and there is no certainty that any Superior Proposal will emerge.