Article

IRIS Metals Limited has signed a binding Heads of Agreement with Finley Mining Inc to farm-in to the Finley Basin Tungsten Project in Granite County, Montana. This agreement enhances IRIS' portfolio in critical minerals, particularly tungsten, which is significant for defense and technology sectors.

The project is located in a mining-friendly area with historical production potential. IRIS aims to capitalize on the increasing U.S. demand for critical minerals, particularly amid defense initiatives and clean energy goals.

The selection of the Finley Basin Project was based on its high-grade characteristics and favorable exploration history compared to other U.S. tungsten sites. IRIS continues to focus on its South Dakota lithium and rubidium projects, with economic assessments planned for 2026. This diversification aligns with U.S. policies promoting domestic sourcing of critical minerals.