HAMMER METALS LIMITED — Capital/Financing Update 2021

Dec 20, 2021

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ISSUE OF SECURITIES

ASX RELEASE 21 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

Hammer Metals Ltd (ASX:HMX) (“ Hammer ” or the “ Company ”) advises that it today issued 3,000,000 performance rights to the Company’s Managing Director as approved by shareholders at the Company’s recent Annual General Meeting.

An Appendix 3G follows this announcement with respect to the issue of these performance rights.

The Company is also advises that the Managing Director has elected to exercise 1,500,000 performance rights previously issued which have vested. Accordingly, 1,500,000 fully paid ordinary shares have been issued.

An Appendix 2A also follow this release with respect to the exercise of performance rights.

This announcement has been authorised for issue by Mr Mark Pitts, Company Secretary, Hammer Metals Limited in accordance with ASX Listing Rule 15.5.

For further information please contact:

Daniel Thomas

Mark Whittle Chief Operating Officer

Managing Director

T +61 8 6369 1195 E info@hammermetals.com.au

CAPITAL STRUCTURE

ASX Code: HMX

Share Price (20/12/2021) $0.048 Shares on Issue 815m Market Cap $39m Options Unlisted 27m Performance Rights 8m

About Hammer Metals

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Hammer Metals Limited (ASX: HMX) holds a strategic tenement position covering approximately 2,200km2 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. Hammer has recently acquired 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.

ASX:HMX hammermetals.com.au

T (08) 6369 1195 E info@hammermetals.com.au ABN 87 095 092 158 P Unit 1, 28-30 Mayfair Street, West Perth, WA 6005