• FIRB approval remains outstanding for sale to Miracle Iron Resources
• Statutory deadline extended to 28 February 2025
• Exclusivity obligations ended, CZR continues discussions with Miracle Iron and other parties

CZR Resources Ltd (CZR) refers to its proposed sale of the Robe Mesa Iron Ore Project to Miracle Iron Resources Pty Ltd (Miracle Iron). The final material condition precedent outstanding to the transaction is Foreign Investment Review Board (FIRB) approval. FIRB has advised Miracle Iron that it is unable to complete its assessment of the application and has requested a further extension to the statutory deadline to 28 February 2025. Miracle Iron has agreed to extend the statutory deadline to 28 February 2025, and both parties have agreed to extend the sunset date of the transaction to the same date. Given the ongoing delays in satisfying the FIRB approval condition, the parties previously agreed to end the exclusivity obligations under the share sale agreement. CZR remains focused on completing a transaction on Robe Mesa and is continuing discussions with Miracle Iron and third parties regarding funding and transaction structures, should a determination from FIRB on the Miracle Iron transaction not be received in its current form. The share sale agreement with Miracle Iron has been further amended to allow for either party to terminate the transaction at their convenience anytime prior to the amended sunset date.