Ironbark Zinc Limited ('Ironbark', 'the Company' or 'IBG') is pleased to update its shareholders with respect to recent shipping conditions at its 100% owned Citronen Zinc-Lead Project in Greenland ('Citronen' or 'the Project'), following the commissioning of a report by Canadian ice shipping specialist Fednav Ice Services.

Highlights

Trend towards significantly improved shipping conditions seen across Arctic region mirrored at Citronen

Multiple options exist to manage shipping to and from the Project, from ice breaking bulk carriers to close coupled towing regimes

Ironbark is likely to focus on the chartered fleet for its shipping solution, Given the relative surplus of polar class vessels that could be available for charter during the shipping window at Citronen Fjord, when ice conditions are more favorable

IBG Managing Director Michael Jardine commented: 'As is well known, Citronen's high Arctic location will necessitate a bespoke shipping solution and Ironbark is pleased to again be working with ice shipping specialists Fednav in updating its shipping plan.

The trend towards more open waters during the Arctic summer is now widely cited and its impact on de-risking the shipping operation at Citronen is potentially significant. Whether it's a potentially longer shipping season, younger ice on the shipping route, a larger charter fleet to choose from or the associated capex and opex savings, Ironbark is focused on maximising the benefits presented by this long term opportunity.'

Contact:

Tel: +61 8 6146 5325

Email: admin@ironbark.gl

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