HAMMER METALS LIMITED — Capital/Financing Update 2021

Aug 24, 2021

==> picture [174 x 48] intentionally omitted <==

YANDAL EXPLORATION UPDATE

ASX RELEASE 25 August 2021

MULTIPLE NEW GOLD ZONES AT NORTH ORELIA & DRILLING TO COMMENCE AT BRONZEWING SOUTH

NORTH ORELIA

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

• Assay results received for a 9,700m, 309-hole aircore drilling program at the 100% owned North Orelia Project

• This program, partly funded by a WA Government EIS grant, tested Targets 2, 3 and 4 in addition to the Eastern Granite Target. Significant results include:

• Target 4 - 16m @ 0.47g/t Au from 52m , including 4m @ 0.84g/t Au from 56m in BWSAC0585 and 8m @ 0.35g/t Au from 72m in BWSAC0828; and

• Target 3 – 4m @ 0.55g/t Au from 24m in BWSAC0653 and 4m @ 0.52g/t Au from 32m in BWSAC0638A

• Multiple holes at separate targets finished in anomalous zones of gold mineralisation – including;

• Target 4 – 0.32g/t Au from 56m in BWSAC0839;

• Eastern Granite - 0.16g/t Au from 47m in BWSAC0674, 0.11g/t Au from 32m BWSAC0621 and 0.1g/t Au from 30m in BWSAC0622; and

• Target 3 – 0.15g/Au from 8m in BWSAC0736, 0.11g/t Au from 14m in BWSA0800, and 0.12g/t Au from 45m BWSAC0640

• A zone of anomalous Zinc mineralisation of up to 70m in width associated with sulphidic shale units was confirmed at Target 4

CAPITAL STRUCTURE

ASX Code: HMX

Share Price (24/08/2021) $0.09 Shares on Issue 813m Market Cap $73m Options Unlisted 27m Performance Rights 6.5m

BRONZEWING SOUTH

• Reverse Circulation drilling program within 300m of the Bronzewing Gold Mine Discovery Pit scheduled to commence in September

• Detailed gravity survey has been completed over the Bronzewing South Project to aid in the targeting of cross cutting structures

• Utilising Hammer’s evolving geological model for the area, three main untested priority targets have been identified

==> picture [219 x 165] intentionally omitted <==

Figure 1. North Orelia Air Core Drilling

==> picture [45 x 7] intentionally omitted <==

----- Start of picture text -----

ASX:HMX
----- End of picture text -----

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

hammermetals.com.au

Hammer’s Managing Director, Daniel Thomas said:

“Our activities in the Yandal continue to focus on high potential gold exploration targets. Our air core program in the Yandal region earlier this year has provided the Company with several new discrete anomalous zones for future exploration.

The further refinement of our exploration model for the Bronzewing South prospect through the completion of high-resolution gravity surveys confirm several target zones directly south of the original Bronzewing gold pits. These targets remain untested at depth yet sit in a favourable structural corridor with several attractive geophysical attributes. There are very few opportunities in modern exploration to explore directly adjacent to a former 3MOz gold mine. The company remains focussed on testing the most prospective copper and gold targets in the portfolio.”

Hammer Metals Ltd ( ASX:HMX ) (“ Hammer ” or the “ Company ”) is pleased to advise that drilling has been completed and results received for a 9768m, 308 hole air core program to test previously undrilled targets on the Orelia trend. (see Figures 1 and 2).

Hammer Metals also completed a 50m spaced detailed gravity survey at the Bronzewing South tenement immediately south of the Bronzewing Deposit. The survey assisted in defining the structural framework and refining our exploration model for this prospective trend. The highest priority target will be tested in an upcoming program of reverse circulation drilling.

North Orelia

Four prospects were tested as part of the recently completed aircore program, highlighting several anomalous zones that warrant follow-up exploration.

Target 2

The northern portion of Target 2 was tested by 47 holes for 745m. This drilling targeted the southern margin of a fractionated granite. The best result from this target was 4m at 0.19g/t Au from 8m in BWSAC0794 which was overlain by a plus 5ppb Au-in-soil anomaly. The target area is significant as granite margins can provide prospective structural positions for gold mineralisation such as Northern Star’s Julius Deposit 60km to the north.

Target 3

Drilling at Target 3 extended the strike length of known mineralisation up to 3.2km. The 76 holes (2418m) targeted a shear zone with significant intercepts of:

• 4m at 0.52g/t Au from 32m in BWSAC0638A;

• 8m at 0.21g/t Au from 40m in BWSAC0641; and

• 4m at 0.55g/t Au from 24m in BWSAC0653.

The zone is located on the eastern margin of the Orelia mineralisation trend and is associated with elevated Arsenic, Antimony and Tellurium. Drilling at three holes at Target 3 finished in anomalous zones of gold mineralisation – including;

• 0.15g/Au from 8m in BWSAC0736, 0.11g/t Au from 14m in BWSA0800, and 0.12g/t Au from 45m BWSAC0640

Target 4

Target 4 is located immediately along strike to the north of Northern Star’s Orelia Deposit. Mineralisation encountered to date within this target is often associated with sulphidic shale units which contain an anomalous Zinc zone of up to 70m in width and up to 1.2km in length (with maximum downhole individual analyses of 6520ppm Zinc, 38.2% Sulphur, elevated Cu and Pb). This zone is located at the boundary between mafic and felsic/intermediate rocks. Significant intercepts include:

• 18m at 0.12g/t Au from 24m in BWSAC0577;

• 16m at 0.47g/t Au from 52m in BWSAC0585;

• 3m at 0.47g/t Au from 52m in BWSAC0818; and

• 8m at 0.35g/t Au from 72mn in BWSAC0828.

Drilling in hole BWSAC0839 finished in an anomalous zone of gold mineralisation - 0.32g/t Au from 56m.

Eastern Granite

This target is located partly within a granite bordering the eastern margin of the Orelia trend where soil geochemical sampling had defined a1.1km by 300m gold anomaly. No previously drilling had been conducted over this target. Hammer Metals tested the area with 126 air core holes (3101m). This work was partly funded by a Western Australia Government Exploration Initiative grant.

Significant geochemical intercepts of 8m at 0.12g/t Au from 20m in BWSAC0621 and 4m at 0.15g/t Au from 12m in BWSAC0622 were associated with a north-northwest trending shear zone on the margin of the granite. Both holes terminated in anomalous mineralisation. Shear zones within granites are attractive targets within the Yandal Belt and, in some cases host economic mineralisation such as Northern Star’s Ramone Deposit.

Bronzewing South

Gravity

A detailed gravity survey conducted at a 50m spacing was undertaken to extend the coverage of a previously completed survey across the immediate southern strike extension of the Bronzewing Deposit. (Refer to ASX announcement dated 13 October 2020). The survey has assisted in refining the structural framework and exploration model for the Bronzewing South prospect, outlining five target zones directly south of the original Bronzewing gold pits. These targets remain untested at depth yet sit in a favourable structural corridor with several attractive geophysical attributes.

Two of the five targets were partially tested by a 2020 diamond drilling program (refer to ASX announcement dated 15 January 2021). This initial testing confirmed the location of prospective stratigraphy within the Hammer Metals project area and the presence of altered and mineralised material co-incident with a gravity low

Hammer intends to target the third of these five targets located only 300m south of the Bronzewing deposit in an upcoming reverse circulation drilling program. Drill planning is complete and program organisation is underway for a mid-September mobilisation.

Page 3 of 27

Yandal Upcoming Work

In conjunction with the upcoming Reverse Circulation program at Bronzewing South several other work programs are under consideration including:

• Reverse Circulation Drilling planned for the third of five Bronzewing-analogue targets;

• Initiation of field work at Bronzewing North and Harrier project areas including soil sampling and geological mapping; and

• Additional in-fill air core drilling at North Orelia investigating anomalies defined in recently completed program; and

• Review of prospects across the tenement at Kens Bore.

Page 4 of 27

==> picture [437 x 627] intentionally omitted <==

Figure 2. North Orelia Drilling Locations

Page 5 of 27

==> picture [495 x 638] intentionally omitted <==

Figure 3. North Orelia Trend Targets three and four showing significant Hammer Drilling Intercepts (Background image Magnetics)

Page 6 of 27

==> picture [419 x 598] intentionally omitted <==

Figure 4. Bronzewing South area showing Hammer targets

Page 7 of 27

==> picture [525 x 372] intentionally omitted <==

Figure 5. Long section looking west through the Bronzewing South area showing the five targets identified in the detailed gravity survey. Hammer Metals plan to drill test the most northern anomaly in the next two months.

Page 8 of 27

==> picture [407 x 600] intentionally omitted <==

Figure 6. Hammer Metals Bronzewing South Project Area

Page 9 of 27

==> picture [449 x 649] intentionally omitted <==

Figure 7. Hammer Metals Bronzewing South Project Area

Page 10 of 27

Table 1. Significant Intercepts utilising a 0.1g/t Au cut-off (A full collar listing is tabulated in Appendix 1)

Hammer Metals Limited - Orelia Project - Significant Results utilising a 0.1g/t Au cut-off	Hammer Metals Limited - Orelia Project - Significant Results utilising a 0.1g/t Au cut-off	Hammer Metals Limited - Orelia Project - Significant Results utilising a 0.1g/t Au cut-off	Hammer Metals Limited - Orelia Project - Significant Results utilising a 0.1g/t Au cut-off	Hammer Metals Limited - Orelia Project - Significant Results utilising a 0.1g/t Au cut-off	Hammer Metals Limited - Orelia Project - Significant Results utilising a 0.1g/t Au cut-off	Hammer Metals Limited - Orelia Project - Significant Results utilising a 0.1g/t Au cut-off	Hammer Metals Limited - Orelia Project - Significant Results utilising a 0.1g/t Au cut-off	Hammer Metals Limited - Orelia Project - Significant Results utilising a 0.1g/t Au cut-off	Hammer Metals Limited - Orelia Project - Significant Results utilising a 0.1g/t Au cut-off	Hammer Metals Limited - Orelia Project - Significant Results utilising a 0.1g/t Au cut-off	Hammer Metals Limited - Orelia Project - Significant Results utilising a 0.1g/t Au cut-off	Hammer Metals Limited - Orelia Project - Significant Results utilising a 0.1g/t Au cut-off
Target	Hole	**E_GDA94 **	N_GDA94	RL	TD	**Dip **	Az_GDA		From	To	Width		Au g/t*
Target 4	BWSAC0577	294691	6968898	522	50	-60	77		24	40	16			0.12
Target 4	BWSAC0585	294528	6968855	522	72	-60	77		52	68	16		0.4			7
								incl.	56	60	4		0.84
Target 4	BWSAC0587	294632	6969505	524	96	-60	77		56	60	4			0.16
Target 4	BWSAC0591	294471	6969446	525	71	-60	77		60	64	4			0.14
Target 4	BWSAC0592	294453	6969436	525	28	-60	77		0	4	4			0.11
Eastern Granite	BWSAC0621	296283	6968800	518	42	-60	90		20	28		8		0.12
									41	42	1			0.11
Eastern Granite	BWSAC0622	296243	6968794	518	30	-60	90		12	16	4			0.15
									29	30	1			0.1
Target 3	BWSAC0632	295841	6968803	520	28	-60	90		24	27	3			0.12
Target 3	BWSAC0637	295641	6968800	521	37	-60	90		12	16	4			0.1
Target 3	BWSAC0638A	295599	6968802	521	43	-60	90		32	36	4		0.52
Target 3	BWSAC0639	295562	6968803	522	42	-60	90		24	28	4			0.1
Target 3	BWSAC0640	295523	6968803	522	46	-60	90		45	46	1			0.12
Target 3	BWSAC0641	295484	6968804	522	51	-60	90		20	24	4			0.16
									40	48		8		0.21
Target 3	BWSAC0642	295441	6968803	522	48	-60	90		24	28	4			0.13
Target 3	BWSAC0643	295401	6968806	522	48	-60	90		4	8	4			0.14
Target 3	BWSAC0644	295366	6968804	522	54	-60	90		44	48	4			0.15
Target 3	BWSAC0650	295362	6969997	519	42	-60	90		16	20	4			0.16
									40	41	1			0.1
Target 3	BWSAC0653	295241	6970003	520	47	-60	90		8	12	4			0.12
									24	28	4		0.55
									44	46	2			0.1
Target 3	BWSAC0655	295159	6970000	522	65	-60	90		48	56		8		0.25
Target 3	BWSAC0656	295121	6969996	520	60	-60	90		24	28	4			0.25
Target 3	BWSAC0657	295079	6969998	521	60	-60	90		48	52	4			0.1
									59	60	1			0.11
Target 3	BWSAC0659	295000	6970000	520	66	-60	90		0	4	4			0.1
									52	56	4			0.1
Eastern Granite	BWSAC0672	296170	6970801	516	18	-60	270		0	4	4			0.11
Eastern Granite	BWSAC0674	296257	6970807	516	48	-60	270		47	48	1			0.16
Eastern Granite	BWSAC0687	296462	6971204	517	33	-60	90		0	4	4			0.1
Eastern Granite	BWSAC0688	296426	6971203	517	38	-60	90		12	16	4			0.13
Target 3	BWSAC0736	294524	6973601	535	12	-60	90		8	12	4			0.15
Target 2	BWSAC0794	292137	6976375	541	32	-60	77		8	12	4			0.19
Target 3	BWSAC0800	294745	6973603	521	15	-60	90		14	15	1			0.11
Target 4	BWSAC0814	294776	6968694	521	57	-60	77		12	16	4			0.1
Target 4	BWSAC0816	294694	6968672	521	37	-60	77		4	8	4			0.1
Target 4	BWSAC0818	294612	6968653	521	56	-60	77		8	12	4			0.2
									52	55	3		0.4			7
Target 4	BWSAC0820	294529	6968631	521	62	-60	77		44	48	4			0.12
Target 4	BWSAC0822	294445	6968619	521	57	-60	77		12	16	4			0.13
Target 4	BWSAC0823	294415	6968606	521	62	-60	77		8	12	4				0.32
Target 4	BWSAC0828	294996	6968329	526	108	-60	77		72	80		8			0.35
Target 4	BWSAC0839	294568	6968229	520	58	-60	77		56	58	2				0.32
Note
^ - Average analysis utilised where more than one reading conducted.
Coordinates and azimuth relative to GDA 94 Zone 51. RL Derived from a DGPS.

Page 11 of 27

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 -

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.

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.

Page 12 of 27

Table 1 report – Bronzewing South Project Exploration Update

• This table is to accompany an ASX release updating the market with drilling from areas within the Hammer Metals Limited Bronzewing South Project. 308 Air Core holes were drilled for a total of 9768m.

• Historic exploration data noted in this, and previous releases has been compiled and validated. It is the opinion of Hammer Metals that the exploration 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.	• 308 Air Core holes were drilled for a total of 9768m. Significant intercepts from these holes are shown in the text in Table 1. A full collar listing is tabulated in Appendix 1. • Drill chip samples were taken at dominantly four metre intervals, with samples being combined from 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 1.58kg and the average sample width was 3.28m. • Samples were submitted to SGS in Kalgoorlie for: • Fire Assay with AAS finish for gold. • All samples are being analysed via portable XRF (conducted under laboratory conditions). • Bottom of hole samples were analysed by 4-acid multielement ICP OES and MS, • Reanalyses will be conducted as required to investigate element repeatability. GRAVITY SURVEYS •A 2892-station ground gravity survey was conducted over four areas within the JOGMEC Joint Venture area. •The ground Gravity Survey was initially conducted on 400m centres and then infilled at 200m and 100m centres depending on the response. The gravity survey was undertaken by Atlas Geophysics utilising a Scintrex CG-5 Autograv Gravity meter which has an accuracy of 0.01 mgal. Locations were captured using a VTK, V100, GNSS RTK system.
Drilling techniques	Drill type (eg core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details(eg core diameter,	• Holes were drilled by Raglan Drilling utilising an in-house designed air core truck-mounted drill rig.

Page 13 of 27

Criteria	JORC Code explanation	Commentary
	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).	• Holes were drilling using air core technique which uses a blade to produce broken core and large chips. Hard rock was drilled by switching to reverse circulation mode using a face sampling hammer.
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.	• 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 and 23 December 2019 for details on historic 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.	• All drilling was geologically logged by Hammer Metals Limited Geologists. • Drill spoil piles were photographed for each hole and a small sample of chips was collected for every metre. • Each drillhole was qualitatively logged in its entirety for geology. • Selected intervals from each drillhole were quantitatively logged on-site using an Olympus Vanta portable XRF instrument. The aim of these limited analysis was to lithochemically characterise rock types. 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.
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. For all sample types, the nature, quality and appropriateness of the sample preparation technique.	• Samples consist of air core and RC drill chips. • Samples from the hole were collected by scooping material from the sample return piles. • Drill chip samples were taken at dominantly four metre intervals with samples beingcomposited combining

Page 14 of 27

Criteria	JORC Code explanation	Commentary
	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.	scooped material from each one metre sample return pile. • Where evidence of mineralisation was encountered or anticipated, the sample length was reduced to 1m. • Sample collection methodology and sample size is considered appropriate to the target-style and drill method, and appropriate laboratory analytical methods were employed. • Standard reference samples and blanks were each inserted into the laboratory submissions at a rate of 1 per 25 samples. • The average sample weight submitted to the lab was 1.58kg. This sample sizes submitted for analysis were appropriate for the style of mineralisation sought. • The method of sample collection, use of compositing where appropriate and lab methods are appropriate for this style of mineralisation. 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.
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.	• All samples were analysed for gold by flame AAS using a 30gm charge. • All samples were subject to either laboratory portable XRF or 4-acid multielement ICP OES and MS. • Standard reference samples and blanks were inserted at 25 sample intervals. SGS also maintained a comprehensive QAQC regime, including check samples, duplicates, standard reference samples, blanks and calibration standards. GRAVITY SURVEYS •The ground Gravity Survey was conducted on 50m centres. •The gravity survey was undertaken by Atlas Geophysics utilising a Scintrex CG-5 Autograv Gravity meter which has an accuracy of 0.01 mgal. Locations were captured using a VTK, V100, GNSS RTK system

Page 15 of 27

Criteria	JORC Code explanation	Commentary
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.	• All assays have been verified by alternate company personnel. • Assay files were received electronically from the laboratory. GRAVITY SURVEYS • After survey company validation, readings were transferred to Southern Geoscience and Hammer Metals personnel daily for review.
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.	• Datum used is UTM GDA 94 Zone 51. • RL information will be merged at a later date utilising the most accurately available elevation data. • Significant intercepts from these holes are shown in the text in Table 1. A full collar listing is tabulated in Appendix 1. GRAVITY SURVEYS •Locations were captured using a VTK, V100, GNSS RTK system. •Datum GDA94 Zone54.
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. _	• The drill density is not sufficient to establish grade continuity. • The average grade has been utilised where multiple repeat analyses have been conducted on a single sample.
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.	• Drill holes were oriented as close to perpendicular as possible to the orientation of the targets based on interpretation of previous exploration. GRAVITY SURVEYS •Gravity station locations are based on an even 50m spaced grid.
Sample security	The measures taken to ensure sample security.	• Pre-numbered bags were used, and samples were transported to SGS in Kalgoorlie by both company personnel and a commercial carrier. Samples were packedwithinsealed bulka bags.

Page 16 of 27

Criteria	JORC Code explanation	Commentary
		GRAVITY SURVEYS •All readings were transferred to Newexco and Hammer Metals personnel daily for review.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	• The dataset associated with this reported exploration has been subject to data import validation. • All assay data has been reviewed by two company personnel. • No external audits have been conducted. GRAVITY SURVEYS •Gravity data was independently reviewed byNewexco.

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 granted tenements: E36/854, E36/868, E36/869, E36/870, E36/916, P36/1857 and P36/1858. • These tenements are 100% held by Carnegie Exploration Pty Ltd. The tenements are in good standing. Carnegie Exploration Pty Ltd is a 100% owned subsidiary of Hammer Metals Limited. • The sampling reported herein was conducted on E36/869, E36/870 and E36/916. • The gravity survey was conducted on E36/854 and P36/1858.
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. • 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

Page 17 of 27

Criteria	**JORC Code explanation **	Commentary
		• Tabulation of this drilling according to trend, exploration licence, drill type and drill type was presented in a HMX release to the ASX dated 14 March 2019.
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 and hosts the Jundee, Darlot, Thunderbox, 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 does not outcrop 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. _	• See the attached tables. • Significant intercepts from these holes are shown 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.
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.	• Intercepts are quoted at a 0.1g/t Gold cut-off with included intercepts highlighting zones of increased Gold grade.

Page 18 of 27

Criteria	**JORC Code explanation **	Commentary
	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 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.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. 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’). _	• The relationship between intersected and true widths for HMX drilling is currently not known with any certainty. 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.
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.	• 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 shown 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.
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	HISTORIC DRILLING • The reader is referred to HMX ASX releases dated 14 March 2019, 18 November 2019, 23 December 2019 22

Page 19 of 27

Criteria	**JORC Code explanation **	Commentary
	results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating _substances. _	April 2020 and 15 July 2020 for details on historic drilling.
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.	• Planning is underway for a reverse circulation program testing the targets defined at Bronzewing South.

Page 20 of 27

Appendix 1 – Full Drill Hole Collar Listing

Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing
Target	Hole	**E_GDA94 **	N_GDA94	RL	TD	**Dip **	Az_GDA
Target 4	BWSAC0573	294768	6968930	522	49	-60	77
Target 4	BWSAC0574	294748	6968925	522	59	-60	77
Target 4	BWSAC0575	294730	6968918	522	56	-60	77
Target 4	BWSAC0576	294711	6968910	522	48	-60	77
Target 4	BWSAC0577	294691	6968898	522	50	-60	77
Target 4	BWSAC0578	294671	6968890	523	47	-60	77
Target 4	BWSAC0579	294648	6968885	522	31	-60	77
Target 4	BWSAC0580	294628	6968882	523	27	-60	77
Target 4	BWSAC0581	294607	6968882	522	28	-60	77
Target 4	BWSAC0582	294592	6968871	523	30	-60	77
Target 4	BWSAC0583	294570	6968866	522	41	-60	77
Target 4	BWSAC0584	294550	6968860	522	56	-60	77
Target 4	BWSAC0585	294528	6968855	522	72	-60	77
Target 4	BWSAC0586	294643	6969509	523	105	-60	77
Target 4	BWSAC0587	294632	6969505	524	96	-60	77
Target 4	BWSAC0588	294592	6969485	524	86	-60	77
Target 4	BWSAC0589	294557	6969472	524	80	-60	77
Target 4	BWSAC0590	294511	6969462	525	85	-60	77
Target 4	BWSAC0591	294471	6969446	525	71	-60	77
Target 4	BWSAC0592	294453	6969436	525	28	-60	77
Target 4	BWSAC0593	294433	6969430	526	20	-60	77
Target 4	BWSAC0594	294411	6969420	525	20	-60	77
Target 4	BWSAC0595	294787	6968924	523	54	-60	77
Eastern Granite	BWSAC0596	297281	6968793	514	39	-60	90
Eastern Granite	BWSAC0597	297239	6968796	515	40	-60	90
Eastern Granite	BWSAC0598	297199	6968793	515	24	-60	90
Eastern Granite	BWSAC0599	297162	6968789	516	27	-60	90
Eastern Granite	BWSAC0600	297122	6968792	515	37	-60	90
Eastern Granite	BWSAC0601	297084	6968794	516	28	-60	90
Eastern Granite	BWSAC0602	297044	6968794	516	40	-60	90
Eastern Granite	BWSAC0603	296999	6968792	515	37	-60	90
Eastern Granite	BWSAC0604	296964	6968790	515	33	-60	90
Eastern Granite	BWSAC0605	296923	6968796	515	35	-60	90
Eastern Granite	BWSAC0606	296883	6968804	515	45	-60	90
Eastern Granite	BWSAC0607	296840	6968792	517	62	-60	90
Eastern Granite	BWSAC0608	296803	6968796	517	39	-60	90
Eastern Granite	BWSAC0609	296756	6968790	518	32	-60	90
Eastern Granite	BWSAC0610	296717	6968792	517	37	-60	90
Eastern Granite	BWSAC0611	296681	6968793	517	45	-60	90
Eastern Granite	BWSAC0612	296641	6968792	517	42	-60	90
Eastern Granite	BWSAC0613	296601	6968792	517	22	-60	90
Eastern Granite	BWSAC0614	296562	6968793	517	45	-60	90
Note
Coordinates and azimuth relative to GDA 94 Zone 51. RL Derived from a DGPS.

Page 21 of 27

Appendix 1 – Continued

Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing
Target	Hole	**E_GDA94 **	N_GDA94	RL	TD	**Dip **	Az_GDA
Eastern Granite	BWSAC0615	296520	6968792	517	45	-60	90
Eastern Granite	BWSAC0616	296480	6968794	517	36	-60	90
Eastern Granite	BWSAC0617	296440	6968793	516	47	-60	90
Eastern Granite	BWSAC0618	296399	6968792	517	48	-60	90
Eastern Granite	BWSAC0619	296359	6968792	517	45	-60	90
Eastern Granite	BWSAC0620	296324	6968800	517	48	-60	90
Eastern Granite	BWSAC0621	296283	6968800	518	42	-60	90
Eastern Granite	BWSAC0622	296243	6968794	518	30	-60	90
Eastern Granite	BWSAC0623	296203	6968803	518	47	-60	90
Eastern Granite	BWSAC0624	296162	6968799	518	41	-60	90
Eastern Granite	BWSAC0625	296118	6968801	518	30	-60	90
Eastern Granite	BWSAC0626	296081	6968800	518	39	-60	90
Eastern Granite	BWSAC0627	296042	6968803	518	36	-60	90
Target 3	BWSAC0628	295999	6968803	518	26	-60	90
Target 3	BWSAC0629	295960	6968802	518	28	-60	90
Target 3	BWSAC0630	295919	6968806	519	24	-60	90
Target 3	BWSAC0631	295881	6968801	519	20	-60	90
Target 3	BWSAC0632	295841	6968803	520	28	-60	90
Target 3	BWSAC0633	295799	6968804	520	32	-60	90
Target 3	BWSAC0634	295762	6968802	520	29	-60	90
Target 3	BWSAC0635	295724	6968802	521	33	-60	90
Target 3	BWSAC0636	295682	6968801	521	24	-60	90
Target 3	BWSAC0637	295641	6968800	521	37	-60	90
Target 3	BWSAC0638	295604	6968804	521	13	-60	90
Target 3	BWSAC0638A	295599	6968802	521	43	-60	90
Target 3	BWSAC0639	295562	6968803	522	42	-60	90
Target 3	BWSAC0640	295523	6968803	522	46	-60	90
Target 3	BWSAC0641	295484	6968804	522	51	-60	90
Target 3	BWSAC0642	295441	6968803	522	48	-60	90
Target 3	BWSAC0643	295401	6968806	522	48	-60	90
Target 3	BWSAC0644	295366	6968804	522	54	-60	90
Target 3	BWSAC0645	295559	6970000	519	43	-60	90
Target 3	BWSAC0646	295517	6970004	519	41	-60	90
Target 3	BWSAC0647	295480	6970006	519	47	-60	90
Target 3	BWSAC0648	295434	6970006	519	25	-60	90
Target 3	BWSAC0649	295401	6969993	519	53	-60	90
Target 3	BWSAC0650	295362	6969997	519	42	-60	90
Target 3	BWSAC0651	295317	6970002	518	52	-60	90
Target 3	BWSAC0652	295278	6970007	519	58	-60	90
Target 3	BWSAC0653	295241	6970003	520	47	-60	90
Target 3	BWSAC0654	295201	6969999	520	53	-60	90
Note
Coordinates and azimuth relative to GDA 94 Zone 51. RL Derived from a DGPS.

Page 22 of 27

Appendix 1 – Continued

Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing
Target	Hole	**E_GDA94 **	N_GDA94	RL	TD	**Dip **	Az_GDA
Target 3	BWSAC0655	295159	6970000	522	65	-60	90
Target 3	BWSAC0656	295121	6969996	520	60	-60	90
Target 3	BWSAC0657	295079	6969998	521	60	-60	90
Target 3	BWSAC0658	295045	6969998	520	57	-60	90
Target 3	BWSAC0659	295000	6970000	520	66	-60	90
Eastern Granite	BWSAC0660	295695	6970799	520	28	-60	270
Eastern Granite	BWSAC0661	295739	6970802	518	43	-60	270
Eastern Granite	BWSAC0662	295780	6970806	517	16	-60	270
Eastern Granite	BWSAC0663	295824	6970804	517	5	-60	270
Eastern Granite	BWSAC0664	295863	6970803	516	7	-60	270
Eastern Granite	BWSAC0665	295894	6970807	516	6	-60	270
Eastern Granite	BWSAC0666	295940	6970803	517	24	-60	270
Eastern Granite	BWSAC0667	295978	6970806	517	27	-60	270
Eastern Granite	BWSAC0668	296017	6970807	517	37	-60	270
Eastern Granite	BWSAC0669	296065	6970796	516	25	-60	270
Eastern Granite	BWSAC0670	296096	6970807	516	35	-60	270
Eastern Granite	BWSAC0671	296135	6970801	516	10	-60	270
Eastern Granite	BWSAC0672	296170	6970801	516	18	-60	270
Eastern Granite	BWSAC0673	296219	6970805	516	20	-60	270
Eastern Granite	BWSAC0674	296257	6970807	516	48	-60	270
Eastern Granite	BWSAC0675	296296	6970805	516	45	-60	270
Eastern Granite	BWSAC0676	296336	6970803	520	53	-60	270
Eastern Granite	BWSAC0677	296376	6970805	507	49	-60	270
Eastern Granite	BWSAC0678	296416	6970806	511	52	-60	270
Eastern Granite	BWSAC0679	296459	6970804	517	46	-60	270
Eastern Granite	BWSAC0680	296499	6970806	514	50	-60	270
Eastern Granite	BWSAC0681	296525	6970810	513	48	-60	270
Eastern Granite	BWSAC0682	296581	6970810	513	44	-60	270
Eastern Granite	BWSAC0683	296622	6970802	512	41	-60	270
Eastern Granite	BWSAC0684	296597	6971199	512	33	-60	90
Eastern Granite	BWSAC0685	296547	6971204	517	34	-60	90
Eastern Granite	BWSAC0686	296503	6971203	517	32	-60	90
Eastern Granite	BWSAC0687	296462	6971204	517	33	-60	90
Eastern Granite	BWSAC0688	296426	6971203	517	38	-60	90
Eastern Granite	BWSAC0689	296384	6971207	517	41	-60	90
Eastern Granite	BWSAC0690	296341	6971205	517	43	-60	90
Eastern Granite	BWSAC0691	296300	6971204	516	36	-60	90
Eastern Granite	BWSAC0692	296260	6971197	516	31	-60	90
Eastern Granite	BWSAC0693	296222	6971203	516	33	-60	90
Eastern Granite	BWSAC0694	296191	6971195	513	27	-60	90
Eastern Granite	BWSAC0695	296143	6971205	513	6	-60	90
Note
Coordinates and azimuth relative to GDA 94 Zone 51. RL Derived from a DGPS.

Page 23 of 27

Appendix 1 – Continued

Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing
Target	Hole	**E_GDA94 **	N_GDA94	RL	TD	**Dip **	Az_GDA
Eastern Granite	BWSAC0696	296100	6971204	513	9	-60	90
Eastern Granite	BWSAC0697	296061	6971204	513	3	-60	90
Eastern Granite	BWSAC0698	296020	6971200	521	3	-60	90
Eastern Granite	BWSAC0699	295984	6971204	519	4	-60	90
Eastern Granite	BWSAC0700	295940	6971206	519	4	-60	90
Eastern Granite	BWSAC0701	295905	6971205	519	4	-60	90
Eastern Granite	BWSAC0702	295862	6971204	520	4	-60	90
Eastern Granite	BWSAC0703	295825	6971206	520	5	-60	90
Eastern Granite	BWSAC0704	295786	6971209	522	8	-60	90
Eastern Granite	BWSAC0705	295739	6971205	522	11	-60	90
Eastern Granite	BWSAC0706	295701	6971202	522	11	-60	90
Eastern Granite	BWSAC0707	295670	6971205	518	3	-60	90
Eastern Granite	BWSAC0708	295619	6971203	518	11	-60	90
Eastern Granite	BWSAC0709	295584	6971205	518	27	-60	90
Eastern Granite	BWSAC0710	295539	6971203	521	27	-60	90
Eastern Granite	BWSAC0711	295500	6971197	522	34	-60	90
Eastern Granite	BWSAC0712	296176	6971602	516	24	-60	90
Eastern Granite	BWSAC0713	296261	6971610	515	21	-60	90
Eastern Granite	BWSAC0714	296100	6971609	518	17	-60	90
Eastern Granite	BWSAC0715	296020	6971606	517	6	-60	90
Eastern Granite	BWSAC0716	295941	6971606	517	3	-60	90
Eastern Granite	BWSAC0717	295899	6971602	517	2	-60	90
Target 3	BWSAC0718	295317	6973599	533	35	-60	90
Target 3	BWSAC0719	295284	6973604	535	27	-60	90
Target 3	BWSAC0720	295246	6973610	537	25	-60	90
Target 3	BWSAC0721	295203	6973607	537	27	-60	90
Target 3	BWSAC0722	295156	6973604	537	43	-60	90
Target 3	BWSAC0723	295127	6973604	537	32	-60	90
Target 3	BWSAC0724	295076	6973593	537	36	-60	90
Target 3	BWSAC0725	295042	6973601	537	32	-60	90
Target 3	BWSAC0726	294997	6973608	530	16	-60	90
Target 3	BWSAC0727	294918	6973615	528	22	-60	90
Target 3	BWSAC0728	294877	6973612	525	21	-60	90
Target 3	BWSAC0729	294841	6973602	523	16	-60	90
Target 3	BWSAC0730	294764	6973604	528	13	-60	90
Target 3	BWSAC0731	294706	6973598	528	20	-60	90
Target 3	BWSAC0732	294684	6973600	531	18	-60	90
Target 3	BWSAC0733	294636	6973608	535	21	-60	90
Target 3	BWSAC0734	294592	6973597	535	18	-60	90
Target 3	BWSAC0735	294560	6973599	535	29	-60	90
Target 3	BWSAC0736	294524	6973601	535	12	-60	90
Target 3	BWSAC0737	294482	6973605	535	14	-60	90
Target 3	BWSAC0738	294443	6973603	535	21	-60	90
Target 3	BWSAC0739	294400	6973610	535	22	-60	90
Target 3	BWSAC0740	294365	6973595	535	20	-60	90
Note
Coordinates and azimuth relative to GDA 94 Zone 51. RL Derived from a DGPS.

Page 24 of 27

Appendix 1 – Continued

Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing
Target	Hole	**E_GDA94 **	N_GDA94	RL	TD	**Dip **	Az_GDA
Target 3	BWSAC0741	294319	6973597	533	17	-60	90
Target 3	BWSAC0742	294278	6973594	533	29	-60	90
Target 3	BWSAC0743	294236	6973598	532	22	-60	90
Target 3	BWSAC0744	294197	6973598	532	18	-60	90
Target 3	BWSAC0745	294162	6973606	532	19	-60	90
Target 3	BWSAC0746	294119	6973587	532	28	-60	90
Target 3	BWSAC0747	294088	6973570	531	37	-60	90
Target 2	BWSAC0748	293315	6976456	531	54	-60	77
Target 2	BWSAC0749	293284	6976444	531	57	-60	77
Target 2	BWSAC0750	293238	6976445	531	63	-60	77
Target 2	BWSAC0751	293203	6976430	533	64	-60	77
Target 2	BWSAC0752	293157	6976421	531	57	-60	77
Target 2	BWSAC0753	293121	6976409	531	40	-60	77
Target 2	BWSAC0754	293081	6976404	531	39	-60	77
Target 2	BWSAC0755	293043	6976398	531	32	-60	77
Target 2	BWSAC0756	293008	6976384	531	16	-60	77
Target 2	BWSAC0757	292958	6976372	532	7	-60	77
Target 2	BWSAC0758	292922	6976362	533	7	-60	77
Target 2	BWSAC0759	292880	6976353	534	6	-60	77
Target 2	BWSAC0760	292841	6976345	535	6	-60	77
Target 2	BWSAC0761	292798	6976334	535	6	-60	77
Target 2	BWSAC0762	292762	6976325	535	4	-60	77
Target 2	BWSAC0763	292718	6976313	537	2	-60	77
Target 2	BWSAC0764	292679	6976308	538	2	-60	77
Target 2	BWSAC0765	292638	6976297	538	2	-60	77
Target 2	BWSAC0766	292611	6976288	537	11	-60	77
Target 2	BWSAC0767	292567	6976477	535	3	-60	77
Target 2	BWSAC0768	292533	6976471	536	4	-60	77
Target 2	BWSAC0769	292489	6976463	535	4	-60	77
Target 2	BWSAC0770	292452	6976450	535	16	-60	77
Target 2	BWSAC0771	292409	6976446	535	8	-60	77
Target 2	BWSAC0772	292369	6976437	535	14	-60	77
Target 2	BWSAC0773	292327	6976423	535	9	-60	77
Target 2	BWSAC0774	292308	6976418	535	20	-60	77
Target 2	BWSAC0775	292591	6976483	535	2	-60	77
Target 2	BWSAC0776	292555	6976476	535	3	-60	77
Target 2	BWSAC0777	292509	6976472	535	6	-60	77
Target 2	BWSAC0778	292473	6976457	533	4	-60	77
Target 2	BWSAC0779	292434	6976449	533	9	-60	77
Target 2	BWSAC0780	292385	6976447	538	7	-60	77
Target 2	BWSAC0781	292355	6976427	538	2	-60	77
Target 2	BWSAC0782	292982	6976376	538	5	-60	77
Target 2	BWSAC0783	292938	6976366	538	5	-60	77
Target 2	BWSAC0784	292899	6976357	538	8	-60	77
Note
Coordinates and azimuth relative to GDA 94 Zone 51. RL Derived from a DGPS.

Page 25 of 27

Appendix 1 – Continued

Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing
Target	Hole	**E_GDA94 **	N_GDA94	RL	TD	**Dip **	Az_GDA
Target 2	BWSAC0785	292863	6976349	538	5	-60	77
Target 2	BWSAC0786	292822	6976340	538	5	-60	77
Target 2	BWSAC0787	292779	6976329	538	12	-60	77
Target 2	BWSAC0788	292739	6976320	538	3	-60	77
Target 2	BWSAC0789	292696	6976308	538	2	-60	77
Target 2	BWSAC0790	292660	6976302	538	2	-60	77
Target 2	BWSAC0791	292237	6976396	540	12	-60	77
Target 2	BWSAC0792	292210	6976399	537	30	-60	77
Target 2	BWSAC0793	292172	6976381	539	38	-60	77
Target 2	BWSAC0794	292137	6976375	541	32	-60	77
Target 3	BWSAC0795	295368	6973593	522	54	-60	90
Target 3	BWSAC0796	295403	6973608	521	41	-60	90
Target 3	BWSAC0797	294978	6973612	521	24	-60	90
Target 3	BWSAC0798	294814	6973605	521	14	-60	90
Target 3	BWSAC0799	294793	6973605	521	15	-60	90
Target 3	BWSAC0800	294745	6973603	521	15	-60	90
Target 3	BWSAC0801	294666	6973607	527	20	-60	90
Target 3	BWSAC0802	294580	6973595	532	19	-60	90
Target 3	BWSAC0803	294503	6973601	533	20	-60	90
Target 3	BWSAC0804	294462	6973600	533	17	-60	90
Target 3	BWSAC0805	294301	6973601	533	29	-60	90
Target 3	BWSAC0806	294178	6973595	533	18	-60	90
Target 3	BWSAC0807	294140	6973597	533	27	-60	90
Target 4	BWSAC0808	295019	6968744	523	38	-60	77
Target 4	BWSAC0809	294962	6968731	523	43	-60	77
Target 4	BWSAC0810	294923	6968727	522	50	-60	77
Target 4	BWSAC0811	294887	6968729	521	50	-60	77
Target 4	BWSAC0812	294844	6968709	522	57	-60	77
Target 4	BWSAC0813	294813	6968705	521	54	-60	77
Target 4	BWSAC0814	294776	6968694	521	57	-60	77
Target 4	BWSAC0815	294737	6968684	521	35	-60	77
Target 4	BWSAC0816	294694	6968672	521	37	-60	77
Target 4	BWSAC0817	294653	6968664	521	36	-60	77
Target 4	BWSAC0818	294612	6968653	521	56	-60	77
Target 4	BWSAC0819	294572	6968643	521	31	-60	77
Target 4	BWSAC0820	294529	6968631	521	62	-60	77
Target 4	BWSAC0821	294488	6968626	521	81	-60	77
Target 4	BWSAC0822	294445	6968619	521	57	-60	77
Target 4	BWSAC0823	294415	6968606	521	62	-60	77
Target 4	BWSAC0824	294377	6968606	521	47	-60	77
Target 4	BWSAC0825	295115	6968356	526	77	-60	77
Target 4	BWSAC0826	295081	6968352	526	87	-60	77
Target 4	BWSAC0827	295028	6968337	526	99	-60	77
Note
Coordinates and azimuth relative to GDA 94 Zone			51. RL Derived from a DGPS.

Page 26 of 27

Appendix 1 – Continued

Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing	Hammer Metals Limited - Orelia Project - Collar Listing
Target	Hole	**E_GDA94 **	N_GDA94	RL	TD	**Dip **	Az_GDA
Target 4	BWSAC0828	294996	6968329	526	108	-60	77
Target 4	BWSAC0829	294964	6968319	526	92	-60	77
Target 4	BWSAC0830	294922	6968308	526	69	-60	77
Target 4	BWSAC0831	294888	6968302	526	92	-60	77
Target 4	BWSAC0832	294843	6968298	526	67	-60	77
Target 4	BWSAC0833	294808	6968286	526	69	-60	77
Target 4	BWSAC0834	294767	6968280	526	61	-60	77
Target 4	BWSAC0835	294728	6968269	524	60	-60	77
Target 4	BWSAC0836	294688	6968261	524	53	-60	77
Target 4	BWSAC0837	294649	6968245	522	60	-60	77
Target 4	BWSAC0838	294610	6968236	522	89	-60	77
Target 4	BWSAC0839	294568	6968229	520	58	-60	77
Target 4	BWSAC0840	294537	6968222	522	79	-60	77
Target 4	BWSAC0841	294453	6968830	528	70	-60	77
Target 4	BWSAC0842	294436	6968830	520	75	-60	77
Target 4	BWSAC0843	294524	6968847	522	47	-60	283
Eastern Granite	BWSAC0844	295756	6970807	474	26	-60	270
Eastern Granite	BWSAC0845	295797	6970808	515	13	-60	270
Eastern Granite	BWSAC0846	295843	6970808	508	7	-60	270
Eastern Granite	BWSAC0847	295878	6970804	509	5	-60	270
Eastern Granite	BWSAC0848	295916	6970812	517	18	-60	270
Eastern Granite	BWSAC0849	296117	6970804	515	32	-60	270
Eastern Granite	BWSAC0850	296146	6970804	488	11	-60	270
Eastern Granite	BWSAC0851	296196	6970796	508	28	-60	270
Eastern Granite	BWSAC0852	296159	6971202	517	16	-60	90
Eastern Granite	BWSAC0853	296123	6971211	514	4	-60	90
Eastern Granite	BWSAC0854	296080	6971198	503	10	-60	90
Eastern Granite	BWSAC0855	296038	6971200	507	3	-60	90
Eastern Granite	BWSAC0856	296004	6971206	520	3	-60	90
Eastern Granite	BWSAC0857	295958	6971214	518	4	-60	90
Eastern Granite	BWSAC0858	295921	6971206	520	5	-60	90
Eastern Granite	BWSAC0859	295885	6971205	517	6	-60	90
Eastern Granite	BWSAC0860	295850	6971203	518	2	-60	90
Eastern Granite	BWSAC0861	295807	6971205	502	4	-60	90
Eastern Granite	BWSAC0862	295763	6971206	516	15	-60	90
Eastern Granite	BWSAC0863	295724	6971203	517	18	-60	90
Eastern Granite	BWSAC0864	295685	6971203	521	6	-60	90
Eastern Granite	BWSAC0865	295655	6971214	521	19	-60	90
Eastern Granite	BWSAC0866	295605	6971204	521	28	-60	90
Eastern Granite	BWSAC0867	296239	6971610	518	21	-60	90
Eastern Granite	BWSAC0868	296222	6971608	520	22	-60	90
Eastern Granite	BWSAC0869	296203	6971604	519	22	-60	90
Eastern Granite	BWSAC0870	296165	6971602	518	26	-60	90
Eastern Granite	BWSAC0871	296142	6971603	513	26	-60	90
Eastern Granite	BWSAC0872	296123	6971608	514	3	-60	90
Eastern Granite	BWSAC0873	296085	6971615	514	13	-60	90
Eastern Granite	BWSAC0874	296066	6971616	514	12	-60	90
Eastern Granite	BWSAC0875	296040	6971613	515	5	-60	90
Eastern Granite	BWSAC0876	296004	6971604	515	6	-60	90
Eastern Granite	BWSAC0877	295985	6971607	515	3	-60	90
Eastern Granite	BWSAC0878	295962	6971607	515	9	-60	90
Eastern Granite	BWSAC0879	295920	6971605	516	2	-60	90
Note
Coordinates and azimuth relative to GDA 94 Zone 51. RL Derived from a DGPS.

Page 27 of 27