IRIS Metals Limited announced it has executed two agreements covering the acquisition of the historically significant Beecher, Longview and Edison patented mining claims, and 313 Bureau of Land Management claims located in Keystone and Tinton districts, South Dakota. The magnitude of the Transactions provides IRIS with patented mineral rights to the entire Beecher Lithium Trend free of federal BLM obligations. It should be noted that the recently granted mining permit also covers the Beecher and Longview properties, in addition to the previously reported Beecher Extended and Black Diamond claims. These Transactions will enable IRIS to fast track its exploration goals and its objective of becoming a leading supplier of lithium to the North American battery metals industry.

Theoretically the Company could be mining and shipping DSO spodumene very quickly though strategically they wish to better define the potential with drilling in the first instance. The opportunities within the United States for critical minerals suppliers are numerous and also look forward to better exploring those once are reinstated to trading. The Company will shortly be issuing a Notice of Meeting to shareholders for approval for the transaction to proceed, and anticipates shortly lodging a prospectus to raise the required capital to rapidly progress the Project.

Shareholders will have a priority allocation within that prospectus. The Projects. The Black Hills of South Dakota are famous for historic lithium mining dating back to 1898 when lithium-bearing spodumene (contains up to 8 % Li2O), and amblygonite (contains up to 10% Li2O) were first mined near the township of Custer.

These projects are district scale and host lithium-cesium-tantalum ("LCT") pegmatites covering several historic lithium mines and many historical industrial mineral pegmatite mines. Existing project areas include: Dewy Project. Custer Project.

Ruby Project. Helen Beryl Project. New project areas include: Keystone claims.