CYCLONE METALS LIMITED (CLE)

The suspension of trading in the securities of Cyclone Metals Limited will be lifted immediately following the release by CLE of an announcement regarding regarding pilot pellet production results.

Iron Bear Direct Reduction (DR) pellets have achieved world-class specifications, with excellent physical properties and reduced and metallised properties. The company is now starting small-scale industrial production, processing 18 tons of run of mine sediment at its pilot plant in Quebec City. They plan to ship bulk samples to potential offtake clients in the Middle East and Europe by Q3 2025.

The securities of Cyclone Metals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of CLE, pending the release of an announcement regarding pilot pellet production results.

The suspension of trading in the securities of Cyclone Metals Limited will be lifted immediately, following the release by CLE of an announcement in relation to results of the pilot plant test work.

500 kg of source sediment grading 29.1% total Fe processed in a small-scale pilot plant. Production of a Direct Reduction concentrate grading 71.3% Fe (from 70.6% Fe1) and 1.1% SiO2 (from 1.2% SiO2) with a total magnetic Fe yield of 85.1%2 (from 80%1). Direct Reduction concentrate is critical to enable large scale green steel production based on Direction Reduction technologies. Production of a Blast Furnace concentrate grading 69.8% Fe (from 68.7%3) and 3.4% SiO2 with a total magnetic Fe yield of 97.6% (from 97.0%3). Production of an additional recovery RF concentrate grading 68.3% Fe and 4% SiO2 to increase overall recovery. Extremely low deleterious elements in all concentrate products, including Al2O3, MnO, P2O5, CaO, etc. 68 kg of Direct Reduction concentrate ready to be provided to potential clients for tests work and potential off take agreements. Phase 2 pilot test work started with 7,000 kg of source sediment to produce larger samples for pelletising test work and further metallurgical test work.

The securities of Cyclone Metals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of CLE, pending the release of an announcement in relation to results of the pilot plant test work.

The suspension of trading in the securities of Cyclone Metals Limited will be lifted immediately following the release by CLE of an announcement regarding an updated mineral resource statement.

Indicated and Inferred Mineral Resource of 16.6 billion tonnes containing 29.3% total Fe and 18.2% magnetic Fe, cut-off grade 12.5% magnetic Fe. Indicated Mineral Resource of 2.15 billion tonnes containing 28.68% total Fe and 19% magnetic Fe. Upgraded mineral resource statement supported by geophysical analysis (including the development of an inversion model), geophysical statistical analysis and pilot plant metallurgical test work. Ore body characteristics suggests that reasonable prospects exist for eventual economic extraction. Pilot plant metallurgical test work confirms that reasonable prospects exist for eventual economic extraction.

The securities of Cyclone Metals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of CLE, pending the release of an announcement regarding an updated mineral resource statement.

The suspension of trading in the securities of Cyclone Metals Limited will be lifted from the commencement of trading on Tuesday, 3 August 2021.

The company lodges its Quarterly Activities Report and Appendix 5B.

The company releases an update in relation to its projects and investments.

The securities of Cyclone Metals Limited are expected to be reinstated to Official Quotation at the commencement of trading at 10:02:15 am AEST on Tuesday, 3 August 2021.

The company releases a Pre-reinstatement disclosure.

The company releases a notice of proposed issue of securities - CLE.

The company releases a prospectus for an offer of 10,000 Shares at an issue price of $0.009 per Share to raise $90.

The company releases a notification of cessation of securities - CLE.

15,000,000 unlisted options exercisable at $0.03 each in the Company expired on 30 June 2021.

CLE pave way to reinstatement to trading on ASX with the release of a prospectus in coming weeks. ASX agree to CLE's reinstatement subject to certain conditions; and CLE to provide updates on projects and investments.

Cyclone has been granted two tenements covering 297 graticules in the Carnarvon Basin 33km from the North West Highway east of Shark Bay, Western Australia.

The company lodges its Quarterly Activities Report and Appendix 5B.

The company announces results from samples collected for use in the Metallurgical testwork program on mineralisation from its Lady Ethleen project in north western Queensland. A total of eleven holes were planned to intersect the Lady Ethleen mineralisation in all three oxidation states to enable collection of sufficient sample for the proposed Glyleach test work program. The samples have now arrived in the lab facility in Perth and the metallurgical testing program has begun. The program is anticipated to take between two and three months and will test the leaching efficiency that could be expected from the Lady Ethleen material in several different leaching environments.

Drilling at the Lady Ethleen Project is now complete and sufficient samples have been obtained to conduct all of the planned Glyleach testwork at the MPS facility in Perth, Western Australia. Approximately 330kg of material was collected from each of the three test zones to facilitate testing of oxide, transitional and sulphide material across the three leaching environments of static (heap leach simulation), semi static and active (continuous leach simulation) leaching.

Cohiba Minerals has provided notice to Mining International, a wholly owned subsidiary of Cyclone Metals in relation to the earn-in of 80% interest in the Wee MacGregor group of tenements in Queensland.

The company lodges its Half Year Accounts.

Since October, the Company has been developing a drilling / trial processing plan to utilise its Lady Ethleen project as a trial / demonstration deposit for development of an environmentally friendly alkaline leach processing solution. Cyclone commenced drilling at its Lady Ethleen project. The purpose of the drilling is to obtain samples for trial leaching and is planned to commence the week commencing 14 March 2021.

The company lodges its Quarterly Activities Report and Appendix 5B.

The company releases an Appendix 3G.

The company releases an Appendix 2A.

The company releases a notice of Proposed issue of Securities - CLE.

Approximately AUD$1m to be raised through placement at $0.005 per share. Funds raised will be used to repay ATO debt. Value of listed investments currently $9.2m. Debt reduced by $4.7m since June 2020.

5,000,000 unlisted options exercisable at $0.05 each in the Company expired on 13 December 2020.

Cyclone to undertake trial leach program on ML2771. If positive, Cyclone will undertake to expand its mineral project base in the district.

The company releases an Appendix 2A.

The company releases its Amended Constitution.

The company releases the results of its AGM.

The company lodges its Quarterly Activities Report and Appendix 5B.

The Annual General Meeting of Cyclone Metals Limited will be held at: 32 Harrogate Street, West Leederville, Western Australia 6007; and 11:00am (WST) on 30 November 2020.

The company releases an Appendix 2A.

The company releases an Appendix 2A.

CLE progress compliance with tenure applications for two tenements covering 297 graticules in the Carnarvon Basin 33km from the North West Highway east of Shark Bay, Western Australia.

On 16 October 2020, a total of 771,278,047 fully paid ordinary shares have been issued.

The company releases an Appendix 2A.

The securities of Cyclone Metals Limited will be suspended from quotation immediately in accordance with Listing Rule 17.3, as ASX has determined that CLE's operations are not adequate to warrant the continued quotation of its securities and therefore it is in breach of Listing Rule 12.1. The suspension will continue until CLE is able to demonstrate compliance with Listing Rule 12.1 of the Listing Rules.

name changed from Cape Lambert Resources Limited