• Indicated and Inferred Mineral Resource of 13.6 billion tonnes containing 30% total Fe and 20.7% magnetic Fe
• Indicated Mineral Resource increased by 114% to 4.5 billion tonnes containing 29.5% total Fe and 20.6% magnetic Fe
• Metallurgical test work confirms high-grade concentrate suitable for direct reduction and blast furnace

Iron Bear Resources Limited (ASX:IBR) has announced an updated Mineral Resource Estimate for its Iron Bear Iron Ore Project in the Labrador Trough region of Canada. The updated Mineral Resource now stands at 13.6 billion tonnes containing 30% total Fe and 20.7% magnetic Fe, with an Indicated Mineral Resource of 4.5 billion tonnes at 29.5% total Fe and 20.6% magnetic Fe. This represents a 114% increase in the Indicated Mineral Resource from the previous estimate. The total Mineral Resource has decreased by 18% from the previous estimate, primarily due to revised geological interpretation, updated pit optimisation parameters and application of updated modifying factors. The Mineral Resource is supported by updated geological interpretation, metallurgical test work and mining studies. Metallurgical test work has confirmed the project can produce high-grade direct reduction and blast furnace concentrates. Key project attributes supporting the Reasonable Prospects for Eventual Economic Extraction (RPEEE) include low stripping ratio, proximity to existing infrastructure, and access to low-cost renewable hydropower.

The updated Mineral Resource Estimate provides a stronger foundation for ongoing technical studies at the Iron Bear Iron Ore Project.