• Results from Phase I drilling confirm high-grade lithium intersections at Edison Project
• New key intersections include 6.65m @ 3.30% Li2O and 2.95m @ 2.76% Li2O
• Drilling revealed multiple pegmatite dikes hosting high-grade lithium mineralization

IRIS Metals Ltd (ASX:IR1) is pleased to announce the successful completion and results of its Phase I diamond drilling program at the Edison Project in South Dakota, USA. The program targeted multiple spodumene-bearing pegmatites, revealing exceptional high-grade lithium mineralization. The 15 drill holes totaling 2,278m at the Edison Project completed and new key intersections include 6.65m @ 3.30% Li2O from 54.6m and 2.95m @ 2.76% Li2O from 95.3m. The 2025 drilling provided critical insights into the project's complex geology, with the Phase I drilling revealing multiple pegmatite dikes hosting high-grade lithium mineralization and enhancing the project's resource potential. The drilling program also confirmed pegmatite continuity across offsetting fault structures, with all pegmatites remaining open at depth, indicating significant opportunities for deeper mineralization to expand future resource estimates. IRIS is now developing a Phase II drilling program to further delineate the high potential lithium mineral system supporting its 'hub and spoke' development strategy for its South Dakota portfolio.

IRIS is actively planning a Phase II drilling program at the Edison Project to further delineate a mineral resource, leveraging a deeper understanding of the project's subsurface geology. The company is also conducting due diligence on potential acquisitions in South Dakota to expand and strengthen its regional portfolio, with all activities focused on advancing the Company's South Dakota assets toward near-term development, supporting IRIS' 'hub & spoke' strategy for centralised processing across its portfolio.