IRR.L Regulatory News (IRR)

29 September 2017

2017 FINANCIAL RESULTS

Transformational Period of Strategic Transactions

IronRidge Resources Limited (AIM: IRR, ''IronRidge'' or the ''Company''), an AIM listed minerals exploration company with a diversified portfolio of gold, lithium, bauxite, titanium and iron ore in frontier regions of Africa and Australia, is pleased to announce its audited results for the year ended 30 June 2017.

To view the Annual Report please visit the Company website: https://www.ironridgeresources.com.au/annual-reports/

Financial Highlights:

· Investment of A$2.9 million into Tekton Pte Ltd providing the Company with access to promising underlying gold projects in Chad. 

· Exploration and evaluation expenditure for the year ended 30 June 2017 was A$6.8 million representing an increase of A$1.7 million over the prior year with initial field programs conducted across the Company's projects in Ghana, Ivory Coast and Australia.

· Grant of 19 million share options as incentives to Directors and management.

· Cash position (as at 31 August 2017) of US$12.3 million.

Operational Highlights:

· A series of strategic acquisitions and joint venture agreements were announced over the course of the year, all focused on expanding the Company's African portfolio including:

o In June 2017, the Joint Venture agreement with Enchi Proci SARL was made unconditional, giving the Company exclusive rights to a prospective lithium application in Ivory Coast, West Africa.

o In March 2017, the Company signed a Joint Venture agreement with Major Star SARL (''Major Star''), providing it with exclusive rights to a portfolio of gold exploration targets in Ivory Coast, West Africa.

o In November 2016, the Company submitted three highly prospective lithium applications within the Ivory Coast, West Africa.

o In May 2016, the Company signed Joint Venture agreements with three local exploration companies to acquire access rights to an historic high-grade lithium resource and associated prospective tenure, collectively termed the 'Cape Coast Project' in Ghana, West Africa.

· In November 2016, significant gold and copper grades were intersected in drilling at the Company's 100% owned May Queen high-grade gold prospect in Queensland, Australia.

· In July 2016, the Company announced a maiden 54.9 MT inferred bauxite mineral resource estimate at 37.5% total alumina and 8.5% total silica for its Queensland Bauxite Project;

Post Period-End Operational Highlights:

· In July 2017 the Company successfully raised £8.25 million at a price of 35 pence per share. New funds will be used as working capital and for the on-going development of the Company's pipeline of projects.

· In September 2017, the Company acquired 100% of of Tekton Minerals Ltd ("Tekton"), giving the Company ownership of Tekton and its promising underlying gold exploration projects in Chad, West Africa  and strengthens IronRidge's management team.

· Senior appointment of Joe Clarry in the role of Exploration Manager, further strengthening IronRidge's management team.

· Infill soil sampling results received and significant gold in soil anomalies confirmed at the Bodite Project in Ivory Coast, West Africa, further enhancing its prospectivity post period end.

· Multiple high-grade gold intersections* returned in 'fresh rock' trenches in Chad, including 8m @ 4.73g/t gold, 12m @ 2.87g/t gold, 10m @ 2.98g/t gold, 4m @ 4.67g/t gold, 4m @ 4.61g/t gold and 2m @ 8.9g/t gold.

*0.2 g/t gold cut-off with maximum 2m of internal waste)

Vincent Mascolo, Chief Executive Officer of IronRidge Resources, said:

"The year in review has been transformational for the Company, a period in which we worked hard to deliver on our stated strategy of securing large scale and highly prospective sites within underexplored terrains.

The Company has acquired significant and exciting lithium and gold prospects across Africa. In Ghana, we are focused on exploring and developing the 'Cape Coast Lithium Project' which includes access rights to an historic high-grade, hard rock lithium bearing spodumene pegmatite resource and multiple additional high-grade spodumene pegmatites. The Company also completed the acquisition of Tekton Minerals, giving us access rights to a highly prospective and high-grade gold exploration suite of assets in Chad, Central Africa.

I am delighted with the progress we have made to date and we will continue to focus on advancing our project pipeline and unlocking shareholder value."

Chairman's Statement from Nicholas Mather:

"I am pleased to report that IronRidge has continued to build on the significant progress made in 2016 with further developments in 2017. In 2016, we were focused on a comprehensive top-down global search for province-scale grass roots and/or advanced projects that offered the potential for the discovery of world class deposits, as we could not rely upon our principal iron ore assets in Gabon at the time, given the unprecedented volatility and the lowest prices in the global iron ore market seen in a decade. Consequently, the Company secured several potential world-class project opportunities in Africa, including gold projects in Chad and lithium projects in Ghana and Cote d'Ivoire, as well as augmenting its Australian asset base.

During the period, the team focused on expanding its footprint in highly prospective sites within underexplored jurisdictions and has delivered on its strategy to build a diversified portfolio whilst delivering value to shareholders.

We have made significant progress with our lithium project in Ghana. The recent ban on new petrol and diesel cars by 2040, coupled with the need for renewable and stored energy, means that demand for lithium is growing at an unprecedented rate. We are ready to take advantage of this market with our Cape Coast Lithium Project in Ghana, a project that has added significant value to our portfolio. Positive drill results and a recent helicopter geophysical survey all indicate that our Ghana lithium project is a rich lithium resource. I look forward to reviewing the results of the maiden drill programme, which will commence later on in 2017.

Earlier this year, we announced that we acquired 100% of Tekton Minerals Pte Ltd, a Company that we have been partnered with for 12 months. The acquisition provides us with access rights to a highly prospective ground holding with high-grade gold targets in Chad, West Africa. We believe that Tekton, its gold portfolio and its highly professional and experienced team, fit perfectly within our strategy, and it was an opportune partnership for both parties.

In the Ivory Coast, we continued to make encouraging progress with our work programmes in the gold-rich terrain within the prolific West African Birimian Greenstone sequence. During the period, we entered into strategic joint venture partnerships with Major Star, Kestral Mining, and Eburnea Gold Resources in order to expand our footprint in jurisdictions with proven gold potential. Additionally, we entered into a joint venture agreement with Enchi Proci SARL, which along with our applications, provides us with exclusive rights to prospective lithium applications covering 1,177km2. This project is a good addition to our portfolio and complements our existing Cape Coast Lithium Project in Ghana.

Closer to home, we have developed a maiden inferred bauxite resources of 54.9Mt at Monogorilby and identified high grade gold and copper intersections at the May Queen Gold Prospect.

We are pleased with the expansion of the portfolio of gold exploration licences and the discovery of exceptionally high-grade and broad lithium pegmatite at the Cape Coast Project in Ghana.

Project Review

Chad

During the year, the Company entered into a conditional share subscription agreement with Tekton Minerals, which was subsequently ratified. The Company then entered into a conditional agreement with Tekton's main shareholders to acquire their interests. The agreement was conditional on IronRidge securing agreements from the remaining shareholders of Tekton, representing 10% of Tekton's issued share capital, which was completed in September 2017 giving the Company 100% ownership of Tekton and its promising underlying gold exploration projects in Chad.

Tekton has secured exclusive rights over five exploration permits covering a total of approximately 1,000km2 within the Ouaddaï Province and the Saharan Metacraton of Central Africa. The Saharan Metacraton represents an underexplored yet highly prospective gold and multi-commodity-bearing metallogenic terrain that has potential to host significant new discoveries.

Three highly prospective gold mineralised exploration targets have been defined over the Dorothe, Echbara and Am Ouchar licences. Additionally, two further highly prospective reconnaissance licences have been awarded within the same province over the Adé and Nabagay targets. As part of the Company's consolidation within the Ouaddaï Province, the Waya Waya permits have been relinquished in favour of the Nabagay and Adé reconnaissance permits.

Ongoing field mapping, detailed trench mapping and assay results have provided valuable insights into the style of mineralisation being explored. The strong spatial association of known gold occurrences with late granitic intrusive bodies and through-going fault structures along structurally and/or lithological corridors, Au+/-Bi-As-Cu-Pb-W metal signatures associated with known gold prospects, the occurrence of sheeted vein systems and the presence of skarns and hornfels suggests potential for an Intrusion Related Gold System ("IRGS") type exploration model.

This is potentially significant as stepping back regionally; the Ouaddaï Province potentially represents a metallogenic belt with possible analogies to the world class Tintina Gold Belt and associated IRGS deposits of Alaska and the Yukon Territory (e.g. Pogo 5.5Moz @ 12.6g/t Au, Donlin Creek 12.3Moz @ 2g/t Au and Fort Knox 8Moz @ 0.9g/t Au).

Regional geological interpretation of high-resolution Sentinel satellite imagery was completed over the Ouaddai South area by SRK Consultants (UK) defining potential structural and lithological controls on known mineralisation and defining additional target areas.

Ghana

During the period, the Company acquired a highly prospective 'hard-rock' pegmatite tenement package with associated lithium potential, through earn-in agreements and direct application over 314km2, and associated access rights to a historical (non-JORC compliant) 1.48Mt at 1.66% Li2O lithium resource. The project area is located on the southern margin of the Cape Coast Batholith, a major 100km x 200km granitic intrusive complex occurring along the southern-central coastline of Ghana and part of the West African shield. A window of older Birimian metasediments is surrounded by the batholith and occurs along the intrusive contact; possibly representing a roof pendent of older metasediments underlain by granitic intrusives.

Smaller kilometre scale, more fractionated granitic intrusive bosses occur within the metasediments and are spatially associated with pegmatitic vein swarms. These intrusive bodies are believed to be the more fractionated end-members, and accordingly more prospective zones for lithium-rich pegmatites. An ultra-high resolution helicopter borne magnetics and radiometrics survey for 3,804 line kilometres was flown over the Barari and Apam licence areas and preliminary data from the survey indicates a strong correlation between mapped lithium pegmatites to date and radiometrics response.

Ivory Coast

The Company made good progress with its gold and lithium prospects in Ivory Coast during the year. The Company acquired a highly prospective 'hard rock' lithium pegmatite tenement package with associated lithium potential, through direct application and earn-in agreement over 1,177km2 in Ivory Coast, West Africa during the reporting period. Through its wholly owned local subsidiary, Khaleesi Resources SARL, IronRidge has secured access rights to two applications covering a total of 777km2 for lithium and associated minerals. The tenement portfolio, in addition to the Ench Proci JV area (400km2) covers prospective fractionated granitic intrusive stocks and pegmatites with historical lithium and columbite-tantalum occurrences.

With regard to its gold projects in the country, the Company has secured via Earn-In Agreements, access rights to eight (8) licences and applications covering a total of 3,110km2 within the Ivory Coast, West Africa. The tenement portfolio covers major shear zones and associated second and third order structures along proven, gold bearing structures.

During the period, the Company completed successful due diligence on all eight of the licence and application areas (two granted licences and six applications), entering into unconditional, definitive and binding earn-in agreements.

Australia

IronRidge Resources has an extensive ground holding in central-southern Queensland prospective for bauxite, titanium, gold and iron ore. The Company initially targeted the area for titanium and subsequently through auger drilling defined bauxite mineralization.

A maiden bauxite resource estimate and preliminary metallurgical test-work was completed at Monogorilby. Careful review of bauxite tenure allowed for reductions in surface area, yet retention of the most prospective targets. Additionally, review of historic data and reports highlighted gold prospectivity within the project portfolio, with high-grade gold intersections up to 145g/t Au over 1m in historic drilling at the May Queen prospect. Subsequent drilling during the reporting period confirmed gold mineralization and identified further targets.

Gabon

The Company submitted licence renewal reports for the Tchibanga Nord concession during the reporting period. The Company is awaiting licence renewals with the pre-requisite 50% licence area reductions over the Tchibanga, Tchibanga Nord and Belinga Sud licences.

Tchibanga is located in south-western Gabon, in the Nyanga Province, within 10-60km of the Atlantic coastline. This project comprises two exploration licences, Tchibanga and Tchibanga Nord, which cover a combined area of 3,396km2 and include over 90km of prospective lithologies and the historic Mont Pele iron occurrence.

Belinga Sud is located in the north east of Gabon in the Ogooue-Ivindo Province, approximately 400km east of the capital city of Libreville. IRR's licence lies between the main Belinga Iron Ore Deposit, believed to be one of the world's largest untapped reserves of iron ore with an estimated 1Bt of iron ore at a grade >60% Fe, and the route of the Trans Gabonese railway, which currently carries manganese ore and timber from Franceville to the Port of Owendo in Libreville.

Financing

During the period, the Company successfully raised £8.25 million of new equity by issuing 23,553,767 new ordinary shares at a price of 35 pence per share. The funds will be used to grow the business rapidly across Africa and Australia and for general working capital. I would like to thank both new and existing shareholders for their support through this process.

Management

Post-period end, we strengthened our management team through the appointment of Joe Clarry to the role of Exploration Manger. Joe Clarry has over 20 years' experience in managing greenfields, brownfields and near mine exploration in gold, lithium, iron ore and base metals. Joe brings with him a wealth of expertise across multiple commodities and deposit settings within both the major and the junior sectors.

Post-period end, the Company acquired Tekton Minerals and its operations team, further strengthening IronRidge's management team.

Conclusion

I would like to thank the efforts of the Company's CEO, Vincent Mascolo, and Chief Geologist, Len Kolff, our fellow members of the Board of Directors, the executive management team and the partners on our licences for their continued hard work and support during 2017, which has greatly contributed to the success of the Company during this financial year.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

For any further information, please contact:

Katie Bairsto

Notes to Editors:

IronRidge Resources is an AIM listed mineral exploration company with frontier assets in both Australia and West Africa, with two province scale projects in Gabon, and promising and advanced titanium and bauxite projects in Queensland Australia. IronRidge's corporate strategy is to create and sustain shareholder value through the discovery of world-class and globally demanded commodities.

Australia

Monogorilby is prospective for province scale titanium and bauxite with an initial maiden resource of 54.9MT of premium DSO bauxite. Monogorilby is located in central Queensland, within a short trucking distance of the rail system, leading north to the Port of Bundaberg. It is also located within close proximity of the active Queensland Rail network heading south towards the Port of Brisbane.

May Queen is located in Central Queensland within IRRs wholly owned Monogorilby license package and is highly prospective for gold. Historic drilling completed during the 1980s intersected multiple high-grade gold intervals including 2m @ 73.4 g/t Au (including 1m at 145g/t), 4m @ 38.8g/t Au (at end of hole) and 3m @ 18.9g/t Au, over an approximate 100m strike hosting numerous parallel vein systems, open to the north-west and south-east.

Wholly owned Quaggy contains highly anomalous platinum, palladium, nickel, cobalt and copper exploration targets and is located in Central Queensland within a short trucking distance of the dormant rail system to the Port of Bundaberg. It is also located within close proximity of the active Queensland Rail network heading south towards the Port of Brisbane.

Gabon

Tchibanga is located in south-western Gabon, in the Nyanga Province, within 10-60km of the Atlantic coastline. This project comprises of two exploration licenses, Tchibanga and Tchibanga Nord, which cover a combined area of 3,396km2 and include over 90km of prospective lithologies and the historic Mont Pele iron occurrence.

Belinga Sud is located in the north-east of Gabon in the Ogooue-Ivindo Province, approximately 400km east of the capital city of Libreville. IRR's licence lies between the main Belinga Iron Ore Deposit, believed to be one of the world's largest untapped reserves of iron ore with an estimated 1bt of iron ore at a grade >60% Fe, and the route of the Trans Gabonese railway, which currently carries manganese ore and timber from Franceville to the Port of Owendo in Libreville.

Chad

In 2016, the Company entered into an agreement with Tekton Minerals Pte Ltd of Singapore concerning its portfolio covering 1,000km2 of highly prospective gold and other mineral projects in Chad, Central Africa. In September 2017, IronRidge acquired 100% of Tekton including its projects and team to advance the Dorothe, Echbara, Am Ouchar, Nabagay and Ade licenses, which host multiple, large scale gold projects. Initial trenching results at Dorothe, including 14.12g/t Au over 4m, 34.1g/t over 2m and 63.2g/t over 1m, have defined significant gold mineralised quartz veining over a confirmed 1km strike at an average of 2m and up to 5m true width across multiple stacked vein zones over a 250m wide zone with new hard-rock artisanal workings, potentially extending strike to >3km.

Ghana

The Company entered into conditional joint venture arrangements with Obotan Minerals Limited, Merlink Resources Limited and Barari Developments Limited of Ghana, West Africa, securing the first access rights to acquire the historical Egyasimanku Hill spodumene rich lithium resource, estimated to be in the order of 1.48Mt at 1.67% Li2O and surrounding tenements. The portfolio covers some 314km2 with a further identified 20km strike of pegmatite vein swarms, tenure package is also highly prospective for tin, tantalum, niobium and gold which occur as accessory minerals within the pegmatites and host formations.

Ivory Coast

The Company entered into conditional joint venture arrangements in Ivory Coast, West Africa; securing access rights to highly prospective gold mineralised structures and pegmatite occurrences covering a combined 3,110km2 and 400km2 area respectively. The projects are well-located within access of an extensive bitumen road network and along strike from multi-million ounce gold projects and mines.

Corporate

IronRidge made its AIM debut in February 2015, successfully securing strategic alliances with three international companies; Assore Limited of South Africa, Sumitomo Corporation of Japan and DGR Global Limited of Australia. Assore is a high-grade iron, chrome and manganese mining specialist. Sumitomo Corporation is a global resources, mining marketing and trading conglomerate. DGR Global is a project generation and exploration specialist.