DRILLING COMMENCED AT BELARA BASE METAL RESOURCE

Ironbark reports that drilling has commenced at the wholly owned Belara base metal project in New South Wales. Belara is located approximately 100km north of Orange in New South Wales, Australia and currently hosts an inferred resource of 1.0 million tonnes at 5.0% zinc, 0.4% copper, 1.5% lead, 0.3 g/t gold and 50 g/t silver at a 4% zinc cutoff within a larger inferred resource of 3.8 million tonnes at 3.1% zinc, 0.4% copper, 1.0% lead, 0.2 g/t gold and 34 g/t silver at a 1% zinc cutoff.

Previous drilling by Ironbark returned excellent drill results at the current base of drilling and the current programme is designed to test for depth extensions of this mineralisation. Ironbark is seeking to expand the resource by conducting further drilling targeting extensions to mineralisation (Figure 1). Approximately 2,000 metres will drilled to depths of up to 400 metres using a combination of reverse circulation and diamond drilling techniques and will include extensional drilling on B30 which returned 8m @ 4.2%zinc, 1.8% lead, 0.5% copper, 62 g/t silver and 0.5 g/t gold from 299 metres downhole.