Iron Bear Resources Limited (CMULF) Quarterly Activities Report

Iron Bear Resources Limited (ASX:IBR) (FRA:HM50) (OTCMKTS:CMULF) provided operational and financial updates for the quarter ending 31 December 2025. The Company is focused on developing its flagship Iron Bear Project, a world-class large-scale iron ore project located in the Labrador Trough, Canada.

The Company also holds ownership of several exploration assets in New Zealand and Western Australia, that include the gold, copper, nickel and platinum group of elements' assets.

HIGHLIGHTS FOR THE PERIOD

- The Company received an additional US$3.4 million ($5.19 million) of project funding from Vale pursuant to the Development Agreement dated 17th of February 2025. Furthermore, the Company received $14.3 million in cash from the sale of its holdings in European Lithium Ltd. The total cash balance of the Company as of end of December 2025 was $15.2 million (excluding funds held pursuant to the Vale Development Agreement, which amounted to an additional USD 5.7 million).

- In December 2025, the Managing Director of Cyclone completed an extensive government roadshow in Canada to promote the Iron Bear project which included face to face meetings with ministers and senior federal and provincial officials.

- The Iron Bear Pre-Feasibility Study (PFS) is progressing as planned and is scheduled for completion end of April 2026. The PFS is led by global engineering firm Hatch, leveraging its extensive experience in large scale iron ore projects.

- Two extensive field surveys and geological mapping programs were completed on the Iron Bear claims.

This work improved the understanding of areas which had not previously been drilled and refined the constraints of the geological model. Several substantial iron rich outcrops were identified, and significant iron ore potential was identified north of Nash Lake.

Paul Berend, the Company's Managing Director commented: "The Company is well funded and the Iron Bear project is progressing as planned. We are benefiting from a much improved political and social situation for natural resource projects in Canada, both at the federal and provincial levels, due to the Trump tariffs and a renewed focus on Canadian strategic natural resource developments."

*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/CXQ732JQ

E: ir@ironbear.org

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