• IRIS Metals receives final assays from Phase I drilling program at Beecher Project
• Maiden mineral resource estimate for Beecher Project on schedule for Q1 2025
• IRIS planning demonstration mining program at Beecher in early 2025 to collect 10-ton bulk sample

IRIS Metals has received the final batch of assay results from the Phase I drilling program at its Beecher Project in South Dakota, USA. The results continue to demonstrate the project's high-grade lithium potential, with significant wide intercepts reported. The maiden mineral resource estimate for the Beecher Project remains on schedule for completion in Q1 2025, as the company advances its mining and processing studies in the region. IRIS is planning a demonstration mining program at Beecher in early 2025 to collect a minimum 10-ton bulk sample. The company currently holds a mining license over the entire Beecher Project, enabling mining activities to commence. The project's location provides excellent infrastructure and is situated in a mining-friendly jurisdiction within one of the largest lithium markets in the world. Alongside the Beecher Project, IRIS is also progressing exploration activities at its Tin Mountain and Edison projects in South Dakota, with drilling programs planned for 2025.

IRIS Metals is advancing its transformation from explorer to producer, with plans to finalise multiple mineral resource estimates and further progress its mining and processing studies in 2025. The company sees potential to start mining operations at the Beecher Project in late 2025.