Be aware that you have an unlisted appliance that is not going to be "legally installed" in most any jurisdiction. Adding a shield that is not tested does not make it legal or approved for safe installation when required for local codes or insurance. A listed appliance installed as per listing (testing) or using approved materials is required. A heat shield as shown in NFPA 211 for unlisted stoves does reduce clearance by 66% for unlisted stoves.
The concern is not surface temperature igniting combustible material right away. It is due to moisture content of building materials having a lower ignition temperature as they are dried out over a period of time. 1/8 inch of air space is almost equal to 1 inch air space. Proof is keeping your finger away from a hot surface that would burn you. 1/8" of air space prevents a burn, but a quick touch is an instant burn. Air is the best insulator.
You need to raise the bottom to 6 inches either extending legs or on bricks or solid blocks. This minimum is found in NFPA 211 under floor protection as well. It gives minimum requirement of stoves with 6 inch height and stoves over 6. Yours was probably made for use on a non combustible hearth. You could also use a UL listed stove board for added floor protection. Then you have an approved installation.
Making your own shield is much cheaper with minimum 24 ga. sheet metal like a shelf under the bottom with at least 1 inch air space between stove and shield. It is the silver looking metal under the stove above.
You could set a metal shield on top of 4 inch blocks to gain height and set stove on it. This gives you a shield the 2 or 3 inches from stove bottom and 4 inches off floor. You won't feel much heat on the floor under that. Here is the shield I added on my Kitchen Queen on the same tile floor in the middle of the same kitchen. It is a UL Listed stove with floor protection given. Cook stoves generally require more floor protection than freestanding stoves require. One sheet of cement board and tile with the UL Listed stove board on top was just under the required minimum protection, so I added this shield. It is a product made for garage floor protection under vehicles and fit perfectly under the stove. The UL stove board stays cool under firebox compared to being uncomfortably warm.
View attachment 168375 Shield under ash pan on bricks that radiated heat downward. Since the appliance was not tested with shield installed on it, this would not be UL approved as installed. I added a thermostat to the stove and am not concerned about UL approval.