CZR RESOURCES LTD (CZR)

The suspension of trading in the securities of CZR Resources Ltd will be lifted immediately following the release by CZR of an announcement regarding a corporate transaction in relation to the Company's Robe Mesa Iron Ore Project.

CZR to receive $102m cash consideration (Purchase Price) for its 85% interest in Robe Mesa, equal to approximately 43c per CZR share (undiluted shares on issue, excluding costs and taxes) and a significant premium to CZR's current market capitalisation: 120% premium to CZR's 10-day VWAP, 93% premium to CZR's 30-day VWAP, 130% premium to CZR's 90-day VWAP, 112% premium to CZR's last capital raising. All cash offer, with 80% of the cash consideration payable on completion of the transaction and the remaining 20% on the earlier of first shipment or 30 June 2025. In addition to the Purchase Price, there is also a $1 million exclusivity fee payable to CZR and Miracle Iron has committed to funding up to $3.9 million in project related expenditure until Transaction completion. CZR retains its world-class exploration portfolio, including the Croydon gold project, along strike from De Grey Mining's multi-million ounce Hemi gold discovery, and the Buddadoo vanadium-titanium project in the emerging mid-west vanadium production hub. The Transaction requires shareholder approval, which will be sought early in 2024, and other conditions, including Australian Foreign Investment Review Board and Chinese Government approvals.

CZR expects the voluntary suspension to last until an announcement is made by the Company which is expected to occur prior to the commencement of normal trading on Tuesday 16th January 2024.

The securities of CZR Resources Ltd will be suspended from quotation immediately under Listing Rule 17.2, at the request of CZR, pending the release of an announcement in relation to a corporate transaction in relation to the Company's Robe Mesa Iron Ore Project.

name changed from Coziron Resources Limited