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International Ferro Metals Limited (“IFL” or the Company), has signed an agreement with Chrometco Limited (“Chrometco”), a Johannesburg listed mining company (JSE code “CMO”), to conduct exploratory drilling of LG6 chrome ore at Chrometco’s Rooderand Mine. Upon the successful completion of the drilling, IFL will be entitled to mine up to 200,000 tonnes of chrome ore over a 12 month period for a fee per tonne payable to Chrometco. Beneficiation will occur at IFL’s smelters.

This agreement is in line with IFL’s stated strategy to obtain higher-grade feed stock for our furnaces and allow for more flexibility and cost effectiveness in our operations.

• [Editor:Phillip.Feng]