HAMMER METALS LIMITED — Director's Dealing 2020

Dec 14, 2020

ASX RELEASE 15 December 2020

DIRECTORS / MANAGEMENT

CORRECTION TO CHANGE OF DIRECTORS’ INTERESTS

Hammer Metals Ltd (ASX: HMX ) (“Hammer” or the “Company”) advises that three of the Appendix 3Ys announced on 14 December 2020 contained the incorrect date for the change of Director’s Interest. The Directors’ Interests changes were effective 8 December 2020. Copies of the corrected Appendix 3Ys are attached.

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

CAPITAL STRUCTURE

ASX Code: HMX

This announcement has been authorised for issue by Mr Mark Pitts, Company Secretary, Hammer Metals Limited.

- END -

About Hammer Metals

Hammer Metals Limited (ASX: HMX) 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. 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.

Share Price (15/12/2020) $0.033 Shares on Issue 749m Market Cap $24.7m Options Unlisted 28m Performance Rights 6.5m

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	HAMMER METALS LTD
ABN	87 095 092 158

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Daniel Thomas
Date of last notice	17 June 2020

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct and Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Mr Thomas is the spouse of the registered holder, Laura Thomas
Date of change	8 December 2020

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change		Direct Ordinary Shares 282,711 Ordinary Shares Indirect – Laura Thomas Unlisted options: 3,000,000 Unlisted options over ordinary shares exercisable at $0.05 on or before 21 October 2023, vesting on 21 October 2020. 4,000,000 Unlisted options over ordinary shares exercisable at $0.06 on or before 21 October 2023, vesting on 21 October 2021. Performance Rights 750,000 Performance rights vesting on 21 October 2020 750,000 Performance rights vesting on 21 October 2020, subject to a share price hurdle of $0.031 for a minimum of 30 days 750,000 Performance rights vesting on 21 October 2021 750,000 Performance rights vesting on 21 October 2021, subject to a share price hurdle of $0.036 for a minimum of 30 days 5,000,000 Performance rights vesting on the satisfactory completion of a transaction in accordance with terms outlined in the Company’s Notice of Annual General Meetingdated 8 October 2019.
Class		a) Ordinary shares b) 750,000 Performance rights vesting on 21 October 2020 c) 750,000 Performance rights vesting on 21 October 2020, subject to a share price hurdle of $0.031 for a minimum of 30 days d) Ordinary shares
Number acquired		a) 374,486 Ordinary Shares d) 1,500,000 Ordinary Shares
Number disposed		b) 750,000 Performance rights vesting on 21 October 2020 c) 750,000 Performance rights vesting on 21 October 2020, subject to a share price hurdle of $0.031 for a minimum of 30 days
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation		a) $11,000 b - d) Nil – converted into ordinary shares

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change		Direct Ordinary Shares 657,197 Ordinary Shares Indirect – Laura Thomas Ordinary Shares 1,500,000 Ordinary Shares Unlisted options: 3,000,000 Unlisted options over ordinary shares exercisable at $0.05 on or before 21 October 2023, vesting on 21 October 2020. 4,000,000 Unlisted options over ordinary shares exercisable at $0.06 on or before 21 October 2023, vesting on 21 October 2021. Performance Rights 750,000 Performance rights vesting on 21 October 2021 750,000 Performance rights vesting on 21 October 2021, subject to a share price hurdle of $0.036 for a minimum of 30 days 5,000,000 Performance rights vesting on the satisfactory completion of a transaction in accordance with terms outlined in the Company’s Notice of Annual General Meeting dated 8 October 2019.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back		a) Shares issued to Director in lieu of fees b – d) Conversion of performance rights into ordinary shares

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

e disclosed in thispart.
Detail of contract	-
Nature of interest	-
Name of registered holder (if issued securities)	-
Date of change	-

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3

Appendix 3Y Change of Director’s Interest Notice

No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	-
Interest acquired	-
Interest disposed	-
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	-
Interest after change	-

Part 3 –[+] Closed period

art 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	n/a
If prior written clearance was provided, on what date was this provided?	n/a

• See chapter 19 for defined terms.

Appendix 3Y Page 4

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	HAMMER METALS LTD
ABN	87 095 092 158

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Ziggy Lubieniecki
Date of last notice	30 June 2020

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest		Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.		-
Date of change		8 December 2020
No. of securities held prior to change		Ordinary shares: 57,200,837 Unlisted options: 3,000,000 unlisted options exercisable at $0.032 on or before30June 2022
Class		a) Ordinary shares b) Unlisted options exercisable at $0.05 each on or before 30 November 2024
Number acquired		a) 200,288 Ordinary Shares b) 1,500,000 unlisted options
Number disposed		Nil

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation		a) $5,000 b) Black-Scholes estimated value of $0.022 per option
No. of securities held after change		Ordinary shares: 57,401,125 Unlisted options: 3,000,000 unlisted options exercisable at $0.032 on or before 30 June 2022 1,500,000 unlisted options exercisable at $0.05 each on or before 30 November 2024
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back		a) Shares issued to Director in lieu of fees b) Incentive options issued to Director approved by shareholders

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	-
Nature of interest	-
Name of registered holder (if issued securities)	-
Date of change	-
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	-
Interest acquired	-
Interest disposed	-
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	-
Interest after change	-

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Part 3 –[+] Closed period

art 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	n/a
If prior written clearance was provided, on what date was this provided?	n/a

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	HAMMER METALS LTD
ABN	87 095 092 158

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	David Church
Date of last notice	1 July 2020

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Highland Company Pty Ltd – Mr Church holds a material interest in Highland Company Pty Ltd.
Date of change	8 December 2020
No. of securities held prior to change	Nil
Class	Unlisted options exercisable at $0.05 each on or before 30 November 2024
Number acquired	1,000,000 unlisted options
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Black-Scholes estimated value of $0.022 per option

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change		Indirect – Highland Company Pty Ltd Unlisted options: 1,000,000 unlisted options exercisable at $0.05 each on or before 30 November 2024
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back		Incentive options issued to Director approved by shareholders

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	-
Nature of interest	-
Name of registered holder (if issued securities)	-
Date of change	-
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	-
Interest acquired	-
Interest disposed	-
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	-
Interest after change	-

Part 3 –[+] Closed period

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	n/a
If prior written clearance was provided, on what date was this provided?	n/a

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3