HAMMER METALS LIMITED — Director's Dealing 2020

Oct 21, 2020

CHANGE IN DIRECTOR INTEREST

ASX RELEASE 22 October 2020

Hammer Metals Ltd (ASX: HMX ) (“Hammer” or the “Company”) confirms the following change to Directors Interest.

The attached Appendix 3Y relates to the exercise of HMXOD quoted options by Mr Russell Davis which occurred on 16 July 2020.

DIRECTORS / MANAGEMENT

Russell Davis Chairman

Daniel Thomas Managing Director

Ziggy Lubieniecki Non-Executive Director

David Church Non–Executive Director

Mark Pitts Company Secretary

The Company advises that it is aware of its listing rule obligations in relation to these disclosures and specifically listing rules 3.19A and 3.19B. In this respect the Company makes the following statements about the attached Appendix 3Y.

1. The Appendix 3Y is being filed to correct an administrative oversight;

2. The Company has informed all Directors of the disclosure requirements set out in listing rules 3.19A, 3.19B and s205G of the Corporations Act. In addition, the Company has adopted a Securities Trading Policy which has been disclosed to the market and outlines the requirements for disclosure and approval of all securities trading; and

3. The Company is confident that the arrangements it currently has in place are adequate and doesn’t believe that any additional steps are required to ensure ongoing compliance with listing rule 3.19B.

Yours sincerely,

Mark Whittle Chief Operating Officer

CAPITAL STRUCTURE

Mark Pitts Company Secretary

ASX Code: HMX

Share Price (22/10/2020) $0.049 Shares on Issue 747m Market Cap $36.6m Options Unlisted 24m Performance Rights 8m

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.

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	Russell Davis
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		Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.		Mr Davis is a trustee and beneficiary of the Davis Superfund. Davis Family Capital Pty Ltd ATF the Davis Superfund
Date of change		16 July 2020
No. of securities held prior to change		Indirect - Davis Family Capital Pty ltd ATF the Davis Superfund: Ordinary shares: 33,600,000 Listed options (HMXOD): 5,000,000 listed options exercisable at $0.03 on or before 30 September 2020 Unlisted options: 1,500,000 unlisted options exercisable at $0.032 on or before 30 November 2022
Class		Ordinary shares HMXOD Listed Options

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Number acquired		5,000,000 Ordinary Shares
Number disposed		5,000,000 HMXOD Listed Options
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation		$150,000
No. of securities held after change		Indirect - Davis Family Capital Pty ltd ATF the Davis Superfund: Ordinary shares: 38,600,000 Listed options (HMXOD): Nil Unlisted options: 1,500,000 unlisted options exercisable at $0.032 on or before 30 November 2022
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back		Exercise of HMXOD options

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.

Appendix 3Y Page 2

01/01/2011

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.

01/01/2011 Appendix 3Y Page 3