• Twenty-seven air-core drill holes for a total 690.5m drilled, with hole depths varying from 9m to 36m
• Heavy Mineral Sands (HMS) defined on three sections, with Section 1 hosting significant Heavy Minerals (HM) from 16.5m to 21.0m thick and >2.4km wide
• Composite drill hole intercepts assayed 1.2% to 4.4% HM over widths ranging from 3m to 21m, with Valuable Heavy Minerals (VHM) composition ranging from 40% to 91%

Iron Road Ltd is pleased to provide an update on activities relating to the Irria Prospect in South Australia. The Company is exploring EL6580 under a farm-in and JV agreement with Red Tiger Resources Ltd. The maiden drilling program has defined heavy mineral sands (HMS) on three sections, with Section 1 hosting significant heavy minerals (HM) from 16.5m to 21m thick and over 2.4km wide. The HMS narrows to the west, with Section 2 located 1.6km to the west hosting HM from 4.5m to 9m thick and 1km wide. Composite drill hole intercepts assayed 1.2% to 4.4% HM over widths ranging from 3m to 21m, with valuable heavy minerals (VHM) composition ranging from 40% to 91%. The VHM component is dominated by ilmenite and leucoxene, with lesser amounts of rutile and zircon. Modal analysis indicates significant pseudo-rutile in some samples, which has higher TiO2 content than ilmenite. The drilling program has confirmed the presence of a highly prospective VHM-bearing geological sequence confined within an interpreted paleochannel, with a possible ~4km by 1km extension to the northeast on EL6580. The ilmenite and leucoxene dominated assemblage is similar to that reported by PTR Minerals at their Rosewood HM Prospect located to the east, further demonstrating this area's potential for a significant HM deposit.

The Stage 1 drilling program has successfully discovered and delineated a significant VHM accumulation within a well-defined paleochannel. The area northeast of the current HM drilling presents a compelling target to potentially extend the HM footprint at the Irria Prospect. The Company is currently assessing its options to best unlock this new found HM potential, while on ground exploration will in the interim shift focus to testing the nickel-copper-gold TAU-A target.