Details of Shareholders' Approval for Disposal of Paulsens East Iron Ore Project

Strike Resources Limited (ASX: $SRK) has announced that shareholders have approved the disposal of the Company's Paulsens East Iron Ore Project. The disposal is part of a Share and Asset Purchase Agreement with Miracle Iron Holdings Pty Ltd for the sale of 100% of the shares in Strike Iron Ore Holding Pty Ltd in exchange for a cash purchase price of A$20.5 million. The completion of the Agreement is scheduled to occur on Friday, 8 March 2024.

Executive Commentary on Shareholders' Approval and Disposal

The Company is pleased to have received approval from the shareholders for the disposal of the Paulsens East Iron Ore Project. This decision aligns with our strategic objectives and allows us to focus on other key projects. We are committed to ensuring a smooth transition and will provide further updates after the completion of the Agreement on Friday, 8 March 2024.

Summary of Shareholders' Approval and Disposal of Paulsens East Iron Ore Project

Strike Resources Limited (ASX: $SRK) has successfully obtained shareholders' approval for the disposal of its Paulsens East Iron Ore Project. The sale of 100% of the shares in Strike Iron Ore Holding Pty Ltd to Miracle Iron Holdings Pty Ltd for A$20.5 million marks a significant step for the Company. The completion of the Agreement is set to occur on Friday, 8 March 2024. The Company will utilize part of the sale proceeds to fully discharge the US$7.2 million loan owed to Good Importing International Pty Ltd at completion. Strike Resources remains committed to providing updates and ensuring a seamless transition following the disposal.