Ann: Citronen Shipping Milestone Achieved, page-3

MILESTONE ACHIEVEMENT – SHIP ROUTE PROVEN

So it was a dummy run! -

"Ironbark Zinc Limited (“Ironbark, the Company” (ASX: IBG) is pleased to announce the significant achievement of proving the viability of shipping from the Citronen base metal project in Greenland.

Summary

Ironbark is delighted to report that the “Nunavik”, a 189m long Polar Class Cargo ship has proved shipping access to the Citronen site (Figure 1) marking the first time a large commercial ship has travelled so far north on the eastern coast of Greenland. The vessel took advantage of late summer ice conditions and open water leads whenever possible to prove viable access to the project site (Figures 2 and 3). Ironbark chartered the icebreaking Nunavik to transit the area as part of the overall proof of logistical plan. The Citronen Project represents one of the World’s largest zinc deposits and will be a largely conventional mine with the exception of its location.

Jonathan Downes stated “The relative ease with which the vessel was able to negotiate the ice conditions, even this late in the season, has given a huge boost to our level of confidence in the practicality of operating this world class base metal project in a safe and environmentally responsible manner. The proposed mine would be a significant global producer of zinc metal and, while the mine would be conventional in almost every way, its location has previously been perceived to be a point of difference and as a challenge. We are delighted to achieve this significant milestone.”

The Citronen project has some unique characteristics that are likely to make this one of the most environmentally friendly and sustainable global operations. Ironbark plans to draw on these advantages to deliver the cleanest zinc mine in the world. In conjunction with Fednav’s impeccable environmental track record and reputation, Ironbark ensured that the Nunavik made this journey consuming low sulphur marine diesel oil instead of conventional heavy fuel oil (HFO) while in Greenland waters."