HAMMER METALS LIMITED — Capital/Financing Update 2021

Dec 22, 2021

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YANDAL EXPLORATION UPDATE

ASX RELEASE 23 December 2021

DIRECTORS / MANAGEMENT

Russell Davis Chairman

Daniel Thomas Managing Director

Ziggy Lubieniecki Non-Executive Director

David Church Non–Executive Director

Mark Pitts Company Secretary

Mark Whittle Chief Operating Officer

• Assays from Hammer’s Bronzewing South project have now been received . 13 holes for 3,554m of reverse circulation drilling were completed

• The drilling intercepted the targeted geological horizon including several zones of intense shearing and quartz- carbonate veining. Limited low grade gold intercepts (<0.1g/t) were recorded at this target

• Multi-element analyses will be completed to confirm zones of alteration and potential vectors towards gold mineralisation

• The completed holes provide a platform for testing deeper targets with diamond tail extensions

• Targets to be pursued in 2022 include a drill out of potential shallow oxide gold resources at Target 1, North Orelia

• Target 1 drilling to include a follow up on the primary bedrock intercept in hole BWSRC028 of 4m at 6.3g/t Au from 77m (see ASX Announcement 9 November 2020). This mineralised zone remains open at depth and along strike to the north

• Historical data compilation of Harrier and Bower prospects has identified high priority soil anomalies which remain untested

• Former Bronzewing mine operators, View Resources and Navigator Resources recorded multiple gold soil anomalies with highs of 205ppb and 99ppb[1]

• These anomalies were planned to be tested with a 9km AC drilling program in 2012. Records indicate that Navigator drilled 21 holes of a 150-hole program before being placed in administration. Results from the initiation of this program (if assayed), were unable to be located

CAPITAL STRUCTURE

ASX Code: HMX

Hammer’s Managing Director, Daniel Thomas said:

Share Price (22/12/2021) $0.048 Shares on Issue 815m Market Cap $39.1m Options Unlisted 27m Performance Rights 8m

“Whilst no significant gold results were returned from our Bronzewing South program the drilling identified several alteration and shear zones indicating proximity to gold mineralisation. The limited dispersion of gold mineralisation is evident from the original discovery of the Bronzewing mine, with the discovery hole being a relatively low-grade intercept in air core drilling. With this evidence in mind, we are committed to pursuing the remaining targets within this corridor which could include the extension of the recently completed drill holes.

A number of other targets in our Yandal tenure continue to evolve. I look forward to the potential definition of a shallow oxide JORC resource at the Target 1 prospect at North Orelia in the new year along with other programs planned in our northern tenure and at Harrier and Bower to the east of Bronzewing mine.”

• 1 See ASX Release: NAV: 21 April 2012 -- Navigator Resources Qtly Activities report March 2012

T (08) 6369 1195 E info@hammermetals.com.au

ASX:HMX

ABN 87 095 092 158 P Unit 1, 28-30 Mayfair Street, West Perth, WA 6005

hammermetals.com.au

Hammer Metals Ltd ( ASX:HMX ) (“ Hammer ” or the “ Company ”) is pleased to provide an update on its Yandal exploration activities. The recently completed Reverse Circulation (“RC”) drilling program completed 13 holes for 3,554m of reverse circulation drilling. This program focussed on the third of five modelled targets testing prospective positions south of the Bronzewing Gold Deposit (Figures 1 and 2).

Bronzewing South Target Zone

The drilling program focussed on the northernmost target position within the geological/structural corridor trending south of the Bronzewing Gold mine. Drilling confirmed the prospective rock units of the corridor between the Bapinmarra dolerite unit to the west and the eastern shear zone. Drilling intercepted the targeted units including several shear zones and zones of quartz/carbonate veining however no significant mineralisation was intercepted by the holes. 11 holes for 3,240m were completed.

To date only the gold analyses have been completed for this drilling. Multi-element analyses are awaited and will be used to better define the zones of alteration noted in the drilling and potentially act as vectors towards gold mineralisation. The completed RC holes will also provide excellent platforms for future diamond drilling tails should the targeted horizon be pursued at depth. Remaining targets (two of five) within this southern corridor remain valid and will be considered as part of future drilling programs within this target area.

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Figure 1. Long section looking west through the Bronzewing South area showing the five targets identified in the detailed gravity survey (See ASX Announcement 9 November 2020)

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Figure 2. Bronzewing South plan showing Hammer targets (See ASX Announcement 9 November 2020)

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Gummow Prospect

The Gummow Prospect is located approximately 4.9km to the south of the Bronzewing Deposit. The prospect is located within a northwest trending shear zone traversing a tholeiitic basalt (similar to Bronzewing Basalt) between a felsic intrusive (interpreted to be a Discovery Granodiorite equivalent) and a coarse grained mafic (interpreted as the Madfish Basalt). Historic Aircore drilling, at 600m line spacing did not test the target and historic soil sampling indicates Au responses of up to 26ppb (Refer to ASX announcement dated 14 March 2019). Check soil sampling conducted by Hammer confirmed the anomalous soil response.

Drilling of this anomaly was limited to two holes(314m) with an initial intercept of:

o 4m @ 0.18g/t Au from 40m in BWSRC048

The drilling in both holes intercepted a mafic sequence on the northern side of an interpreted felsic intrusive. Minor sulphidic veining was intersected which is associated with anomalous gold values.

Further investigation of this anomaly to be considered in a future air core program which is likely to include a program at the Harrier and Bower prospects.

North Orelia Target 1

Following a review of Hammer’s 2020 Reverse Circulation program at North Orelia several opportunities for both exploration and resource definition remain outstanding.

The gold intercept in hole BWSRC028 of 4m at 6.3g/t Au from 77m (see ASX Announcement 9 November 2020 remains open at depth and along strike to the north (Figure 3). Whilst a number of other intercepts were recorded in air core and drilling within the weathered regolith, this intercept represents the most significant result in fresh rock. This intercept has not been tested to the north and remains open at depth.

Intercepts in the central zone at Target 1 and in the weathered regolith provide an opportunity for the definition of a shallow oxide gold resource (Figure 4). Historical intercepts in this zone include:

• 8m at 4.2g/t Au from 20m in BWSRC0025 including 1m at 27.1g/t from 26m;

• 5m at 3.5g/t Au from 25m in BWSRC0026 including: 1m at 16.6g/t from 25m;

• 4m at 5.8g/t from 40m in BWSAC0434; and

• 10m at 1.82g/at from 9m in BWSAC0121 including 3m at 5.8g/t from 12m

(See ASX announcement 9 November 2020)

A drilling program is currently being designed with a view to being commenced in the second quarter of 2022.

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Figure 3. Orelia Target 1 South – Primary Bedrock target

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Figure 4. Orelia Target 1 South – Resource Study Targets (refer also ASX announcement 9 November 2020)

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Harrier and Bower

Hammer acquired the Harrier and Bower project area in March 2021 (see ASX announcement 1 March 2021). The Harrier tenements are located 1km to the east of Hammer’s Bronzewing South tenement. The tenement is located on the eastern limb of the Bronzewing anticline and is within 3km of the former Bronzewing Gold mine. Given the tenements proximity to the former mine, it remains lightly explored.

A recent review of the historical exploration activities on this project have highlighted multiple significant soil anomalies over an area with historical nugget discoveries. This anomaly was due to be drill tested by Navigator in 2013 with a 150-hole, 9000m air core program. This program was not completed with Navigator Resources being placed into administration before the program could be completed. Records suggest that 21 of the holes were drilled however assays for these holes were either incomplete or not submitted to Western Australian Department of Minerals.

In 2011, Navigator Resources completed a soil sampling program that consisted of 1,056 BLEG samples on a 200m by 50m grid pattern. A number of anomalies including the Bower and Harrier prospects were highlighted. At Bower in the north, a program high soil anomaly of 225ppb is present coincident with a reported eastern nugget patch over a 600m strike length. An anomalous zone with value up to 80ppm is present at the southern end of a western nugget patch.(see Figure 5)

At Harrier to the south of the tenement, a coherent anomaly with a strike length of 1.3km and a width of 250m is evident with a maximum soil result of 41ppb Au. The anomaly correlates well with a reported gold nugget trend on the tenure and the anomaly remains open to the north and the south of the area.[2]

Hammer will look to test these anomalies with a detailed air core program in 2022.

North Yandal

Planning is complete for a large soil geochemical program on Hammer tenements in the Bronzewing North Project region. This sampling will be conducted in the vicinity of Northern Star’s Ramone, Gourdis and Julius Deposits in addition to testing prospective stratigraphy along strike from the Strickland Metals’ Millrose deposit.

This work will be initiated in early 2022. (see Figures 6 and 7)

2 Navigator (Bronzewing) Pty Ltd – C41/2010 Annual Technical report_2011_2012 (A94100). The exploration data from Harrier and Bower has been compiled and validated. It is the opinion of Hammer Metals that the exploration data are reliable.

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Figure 5. Harrier and Bower soil survey results

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Figure 6. Hammer Metals Bronzewing South Project Area

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Figure 7. Hammer Metals Bronzewing South Project Area

This announcement has been authorised for issue by the Board of Hammer Metals Limited in accordance with ASX Listing Rule 15.5.

For further information please contact:

Daniel Thomas Managing Director T +61 8 6369 1195 E info@hammermetals.com.au

- END -

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About Hammer Metals

Hammer Metals Limited (ASX: HMX) holds a 100% interest in the Bronzewing South Gold Project located adjacent to the 2.3 million-ounce Bronzewing gold deposit in the highly endowed Yandal Belt of Western Australia. Hammer holds a strategic tenement position covering approximately 2,200km[2] within the Mount Isa mining district, with 100% interests in the Kalman (Cu-Au-Mo-Re) deposit, the Overlander North and Overlander South (Cu-Co) deposits and the Elaine (Cu-Au) deposit. Hammer also has a 51% interest in the emerging Jubilee (Cu-Au) deposit. Hammer is an active mineral explorer, focused on discovering large copper-gold deposits of Ernest Henry style and has a range of prospective targets at various stages of testing.

Competent Person Statements

The information in this report as it relates to exploration results and geology was compiled by Mr. Mark Whittle, who is a Fellow of the AusIMM and an employee of the Company. Mr. Whittle, who is a shareholder and optionholder, has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activities which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Whittle consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

The information in this report that relates to previous exploration results was prepared and first disclosed under a pre-2012 edition of the JORC code.

The data has been compiled and validated. It is the opinion of Hammer Metals that the exploration data is reliable. Nothing has come to the attention of Hammer Metals that causes it to question the accuracy or reliability of the historic exploration results.

Where the Company references Mineral Resource Estimates previously announced, it confirms that it is not aware of any new information or data that materially affects the information included in those announcements and all material assumptions and technical parameters underpinning the resource estimates with those announcements continue to apply and have not materially changed.

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JORC Table 1 report – Bronzewing South Project Exploration Update

• This table is to accompany an ASX release notifying the market in relation to completion of a 13 hole, 3554m reverse circulation drilling program at the Bronzewing South and Gummow Prospects within the Bronzewing South Project.

• This release also discusses historic exploration data in the Bower and Harrier areas. This data has been compiled and reviewed. It is the opinion of Hammer Metals that the data are reliable.

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections in this information release.)

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	Reverse Circulation Drilling 13 Reverse Circulation holes were drilled at the Bronzewing South and Gummow Prospects. Hole details are tabulated in Table 1 and Appendix 1. Drill chip samples were taken at dominantly four metre intervals, with samples being combined from single metre intervals. Where mineralisation was anticipated or encountered, the sample length was reduced to 1m with lab submission of the 1m samples. For samples reported herein the average sample weight is 2.36kg and the average sample width was 3.19m. Samples were submitted to ALS in Kalgoorlie for Fire Assay with AAS finish for gold. All samples were analysed via portable XRF on site to enable lithochemical characterisation. Select multielement analyses will be conducted by four acid ICP-MS in order to determine detailed alteration vectors. Gold reanalyses are in progress to investigate repeatability. Historic Soil Sampling Samples were taken in March 2011 by Navigator Resources. Sampling was conducted on 200m spaced east-west oriented lines on a sample spacing of 50m. Samples consisted of 0.5kg of -2mm fraction and were submitted for analysis by cyanide leach method (CN500/MS) by Genalysis.

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Criteria	JORC Code explanation	Commentary
		Historic Drilling The reader is referred to HMX ASX releases dated 14 March 2019, 18 November 2019, 23 December 2019 22 April 2020, 15 July 2020 and 4 August 2020 for details on both HMX and historic drilling.
Drilling techniques	Drill type (eg core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	Reverse Circulation Drilling Drilling was conducted by Strike Drilling using a Schramm 685. The hole diameter was approximately 5.75” and the reverse circulation method utilises a face sampling bit. Historic Drilling The reader is referred to HMX ASX releases dated 14 March 2019, 18 November 2019, 23 December 2019 22 April 2020, 15 July 2020 and 4 August 2020 for details on both HMX andhistoric drilling.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	Reverse Circulation Drilling Sample recoveries were generally in excess of 80%. Recovery dropped in the shallow portion of holes and in zones of strong water inflow. In zones where recovery was compromised holes were terminated. No sample recovery bias has been noted. Historic Drilling The reader is referred to HMX ASX releases dated 14 March 2019, 18 November 2019, 23 December 2019 22 April 2020, 15 July 2020 and 4 August 2020 for details on both HMX andhistoric drilling.
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged.	Reverse Circulation Drilling All drilling was geologically logged by Hammer Metals Limited Geologists. Drill chip trays were photographed for each hole. All intervals were quantitatively logged using a portable XRF for lithochemical characterisation. Historic Drilling The reader is referred to HMX ASX releases dated 14 March 2019, 18 November 2019, 23 December 2019 22 April 2020, 15 July 2020 and 4 August 2020 for details on both HMX and historic drilling.
Sub- sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	Reverse Circulation Drilling Samples consist of RC drill chips. Each metre consisted of a A and B sample splits in addition to a larger bulk sample. Drill chip samples were taken at dominantly four metre intervals with samples being

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Criteria	JORC Code explanation	Commentary
	For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the insitu material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled.	composited via splitter where appropriate. Where evidence of mineralisation was encountered or anticipated, the sample length was reduced to 1m. Standard reference samples and blanks were inserted into the laboratory submissions at a rate of 1 per 20 samples. The average sample weight submitted for analysis was 2.36kg. Sample collection methodology and sample size is considered appropriate to the target- style and drill method, and appropriate laboratory analytical methods were employed. Historic Soil Sampling Navigator conducted soil sampling on 200m spaced lines with 50m sample spacing. Samples consisted of 0.5kg of -2mm fraction and were submitted for analysis by cyanide leach method (CN500/MS) by Genalysis. Historic Drilling The reader is referred to HMX ASX releases dated 14 March 2019, 18 November 2019, 23 December 2019 22 April 2020, 15 July 2020 and 4 August 2020 for details on both HMX andhistoric drilling.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and _precision have been established. _	Reverse Circulation Drilling All samples were analysed for gold by flame AAS using a 50gm charge. Historic Soil Sampling Samples consisted of 0.5kg of -2mm fraction and were submitted for analysis by cyanide leach method (CN500/MS) by Genalysis. Historic Drilling The reader is referred to HMX ASX releases dated 14 March 2019, 18 November 2019, 23 December 2019 22 April 2020, 15 July 2020 and 4 August 2020 for details on both HMX and historic drilling.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data.	Reverse Circulation Drilling All assays have been verified by alternate company personnel. Assay files were received electronically from the laboratory. Historic Soil Sampling Locations have been derived directly from data submitted to the Western Australia Mines department by Navigator Resources in 2012. Historic Drilling The reader is referred to HMX ASX releases dated 14 March 2019, 18 November 2019, 23 December 201922 April 2020,15 July2020

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Criteria	JORC Code explanation	Commentary
		and 4 August 2020 for details on both HMX and historic drilling.
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control.	Reverse Circulation Drilling Datum used is UTM GDA 94 Zone 51. Collar locations have been initially fixed via GPS. Collar elevations were assigned to drillholes based on nearby Gravity Station locations (which have accurate RL control). Collar locations will be more accurately located by DGPS at a later date. Historic Soil Sampling Locations areinGDA94 Zone51coordinates
Data spacing and distribution	Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been _applied. _	Reverse Circulation Drilling The drill density is not sufficient to establish grade continuity. Historic Soil Sampling BLEG sampling was conducted on 200m spaced lines with a 50m sample spacing. This spacing is sufficient to target anomalous trends with air core drilling.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	Reverse Circulation Drilling Drill holes were oriented as close to perpendicular as possible to the orientation of currently known mineralisation controls. Historic Soil Sampling Soil lines were oriented at right angles to the prevailing regional structural directions.
Sample security	The measures taken to ensure sample security.	Reverse Circulation Drilling Pre-numbered bags were used, and samples were transported to SGS in Kalgoorlie by both company personnel and a commercial carrier. Samples were packed within sealed bulka bags. Historic Soil Sampling The sample security details of Navigator soil samples arenotknown.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	Reverse Circulation Drilling The drilling dataset has been subject to data import validation. All assay data has been reviewed by two company personnel. No external audits have been conducted Historic Soil Sampling Data was sourced from Open File reports maintained by the Western Australia Mines Department. It is not known whether Navigator Resources undertookany data audits.

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Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	**JORC Code explanation **	Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	The Bronzewing South Project comprises multiple granted tenements which are illustrated on figures in the release. All tenements are 100% held by Hammer Metals subsidiary, Carnegie Exploration Pty Ltd. Reverse Circulation Drilling Drilling reported herein is located on E36/854. Historic Soil Sampling The historic soil sampling reported herein is located on E36/882. Target 1 Further Studies Target 1 drilling is located on E38/869
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Previous holders held title either covering the tenement in part or entirely and previous results are contained in Mines Department records. Historic Drilling The reader is referred to HMX ASX releases dated 14 March 2019, 18 November 2019, 23 December 2019 22 April 2020, 15 July 2020 and 4 August 2020 for details on both HMX and historic drilling. In excess of 2200 holes and 99km of drilling has been conducted by Newmont Exploration Pty Ltd, Audax Resources NL and Australian Resources Ltd over the entire project area. This data has been compiled by Carnegie Exploration Pty Ltd
Geology	Deposit type, geological setting and style of mineralisation.	The Bronzewing South project is exploring for Bronzewing and/or Mt McClure analogues along strike from each mine. The project is located within the Yandal Greenstone Belt approximately 65km northeast of Leinster. The Yandal Belt is approximately 250km long by 50km wide andhosts the Jundee,Darlot,Thunderbox,

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Criteria	**JORC Code explanation **	Commentary
		Bronzewing and Mt McClure Group of gold deposits. In the Bronzewing area the greenstone succession is dominated by tholeiitic basalts and dolerite units with lesser ultramafic, felsic and sediment sequences. Gold mineralisation at theBronzewing mine occurs in quartz veins (sub-parallel vein arrays) in complex pipe-like lodes that plunge steeply to the south within a 400m wide structural corridor. The north-south corridor is roughly coincident with an antiformal structure and extends to the south through E36/854. Bedrock outcrops rarely within E36/854 and drilling indicates that surficial cover ranges between 2m and 40m in thickness.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: easting and northing of the drill hole collar elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar dip and azimuth of the hole down hole length and interception depth hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	Reverse Circulation Drilling See the attached tables. Significant intercepts from these holes are noted in the text. An intercept cut-off of 0.1g/t has been utilised. A full collar listing is tabulated in Appendix 1. All information pertaining to drilling and historic soil surveys has been reported previously to the ASX. Historic Drilling The reader is referred to HMX ASX releases dated 14 March 2019, 18 November 2019, 23 December 2019 22 April 2020, 15 July 2020 and 4 August 2020 for details on both HMX and historic drilling.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly _stated. _	Historic Soil Sampling In relation to the historic soil sampling reported herein at Harrier, contours are shown which were constructed form the primary data. Historic Drilling The reader is referred to HMX ASX releases dated 14 March 2019, 18 November 2019, 23 December 2019 22 April 2020, 15 July 2020 and 4 August 2020 for details on both HMX and historic drilling.
Relationship between mineralisation	These relationships are particularly important in the reporting of Exploration _Results. _	Reverse Circulation Drilling No extrapolations can be made between drillingresponses and possible angles,

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Criteria	**JORC Code explanation **	Commentary
widths and intercept lengths	If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	grades and widths of any possible underlying mineralisation. Historic Drilling The reader is referred to HMX ASX releases dated 14 March 2019, 18 November 2019, 23 December 2019 22 April 2020, 15 July 2020 and 4 August 2020 for details on both HMX and historic drilling. Historic Soil Sampling No extrapolations can be made between soil sampling responses and possible angles, grades and widths of any possible underlying mineralisation.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional _views. _	See attached figures
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced avoiding misleading reporting of Exploration Results.	Reverse Circulation Drilling Intersections derived from laboratory analysis are reported at cut-off grades of 0.1g/t Au. The reader can therefore assume that any portions of a drillhole that are not quoted in the intercept tables contain grades less that the quoted cut-off. Significant intercepts from these holes are noted in the text in Table 1. A full collar listing is tabulated in Appendix 1. Historic Drilling The reader is referred to HMX ASX releases dated 14 March 2019, 18 November 2019, 23 December 2019 22 April 2020 and 15 July 2020 for details on historic drilling. Historic Soil Sampling Historic soil response at Harrier is shown on select figures as contours with sample locations as a point.
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	Historic Drilling The reader is referred to HMX ASX releases dated 14 March 2019, 18 November 2019, 23 December 2019 22 April 2020 and 15 July 2020 for details on historic drilling.

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Criteria	**JORC Code explanation **	Commentary
Further work	The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Bronzewing South An evaluation of the previous drilling will be conducted to utilise the current holes as pre-collars for deeper drilling in 2022. Harrier Planning is underway for an Air Core drilling program in 2022. Orelia North Target 1 A review of Target 1 drilling has identified a number of areas which will be evaluated by drilling in 2022. Bronzewing North Soil sampling is planned for the first quarter of 2022

Appendix 1. Bronzewing South Drillhole Locations

	Bronzewing South Project - Hole Locations	Bronzewing South Project - Hole Locations	Bronzewing South Project - Hole Locations	Bronzewing South Project - Hole Locations	Bronzewing South Project - Hole Locations	Bronzewing South Project - Hole Locations	Bronzewing South Project - Hole Locations
Target	Hole	E_GDA94	N_GDA94	RL	TD	Dip	Az_GDA
Bronzewing South	BWSRC042	302347	6968553	488.3	232	-60	315
	BWSRC043	302444	6968558	488.6	268	-65	315
	BWSRC044	302548	6968546	488.8	334	-67	313
	BWSRC045	302447	6968457	488.8	304	-60	310
	BWSRC046	302648	6968551	489.1	328	-65	315
Gummow	BWSRC047	301358	6964402	523.0	160	-60	245
	BWSRC048	301400	6964320	522.0	154	-60	245
Bronzewing South	BWSRC049	302454	6968349	489.0	328	-70	316
	BWSRC050	302548	6968250	489.0	302	-65	312
	BWSRC051	302345	6968255	489.0	298	-65	311
	BWSRC052	302449	6968257	489.0	298	-65	313
	BWSRC053	302712	6968317	489.0	250	-65	316
	BWSRC054	302534	6968153	489.0	298	-65	270
Note
Coordinates and azimuth relative to GDA 94 Zone 51. RL Derived from a Gravity stations. Both coordinates and RL to be resurveyed usingDGPS at the conclusion of theprogram

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