IRR / ALL / A11 have been earning in per the 20/10/16...

IRR / ALL / A11 have been earning in per the 20/10/16 announcement:

Key Financial Terms

The Company has entered into an Agreement with Barari Developments Limited ("BDL") of Ghana, West Africa, under which IronRidge can acquire up to 100% of the project through staged earn-in arrangements and expenditure to Feasibility Study within a 4-year period. Barari Developments Limited will retain a Net Smelter Return Royalty ("NSR") of 2% of which 50% may be acquired for US$2m at any stage. Funding will be used to undertake further exploration work and, pending results, define a maiden resource and complete project studies.

Completion of the Investment is subject to certain conditions being met by the Company and Barari Developments Limited, principally in relation to completion of satisfactory Due Diligence by IronRidge over the next three months.

IronRidge shall be responsible for maintaining the Properties during this agreement and up to the completion of the Feasibility Study.

Summary of Key Earn-in and Joint Venture Terms

· IronRidge to establish a Special Purpose Vehicle (SPV), IronRidge (100%).

· Satisfied completion of Due Diligence - US$50,000 to BDL by IronRidge.

· Asset Transfer Fee - US$50,000, BDL earn 20% of the SPV by IronRidge.

· Commencement of a Scoping Study Fee - US$50,000, IronRidge earn to 85% total of the SPV.

· Commencement of Pre-Feasibility Study - US$150,000, IronRidge earn to 90% total of the SPV.

· Commencement of Feasibility Study - US$200,000 IronRidge earn to 95% total of the SPV at this point BDL can either co-contribute or dilute down to a NSR of 2% at which time IronRidge will have earned 100% of the SPV.