HAMMER METALS LIMITED — Director's Dealing 2021

Dec 28, 2021

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CHANGE OF DIRECTORS’ INTERESTS

ASX RELEASE 28 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

CAPITAL STRUCTURE

ASX Code: HMX

Share Price (24/12/2021) $0.046 Shares on Issue 815m Market Cap $37.5m Options Unlisted 27m Performance Rights 8m

Hammer Metals Ltd (ASX: HMX ) (“Hammer” or the “Company”) advises changes to Director’s Interests as disclosed in the attached Appendix 3Y for Mr Thomas.

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

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 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 coppergold deposits of Ernest Henry style and has a range of prospective targets at various stages of testing.

Hammer also has 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.

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

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	9 November 2021

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 **	21 December 2021

• 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 1,000,000 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 Meetingdated 8 October 2019.

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Class	a) Ordinary Shares b) Performance rights vesting on 21 October 2021 c) Performance rights vesting on 21 October 2021, subject to a share price hurdle of $0.036 for a minimum of 30 days d) Performance rights, expiring 21 December 2025, vesting upon the Company announcing a new JORC 2012 compliant mineral resource estimate of 50,000 tonnes Cu or equivalent KPI at the sole discretion of the Board e) Performance rights, expiring 21 December 2025, vesting upon the Company announcing a new JORC 2012 compliant mineral resource estimate of 100,000 tonnes Cu or equivalent KPI at the sole discretion of the Board f) Performance rights, expiring 21 December 2025, vesting upon the Company announcing a new JORC 2012 compliant mineral resource estimate of 200,000 tonnes Cu or equivalent KPI at the sole discretion of the Board
Number acquired	a) 1,500,000 d) 1,000,000 e) 1,000,000 f)1,000,000
Number disposed	b) 750,000 c) 750,000
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	a) Nil – received upon the exercise of performance rights b & c) Nil – performance rights exercised into ordinary d, e & f) Nil – Long term incentive to Managing Director

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change		Direct Ordinary Shares 1,000,000 Ordinary Shares Indirect – Laura Thomas Ordinary Shares 3,000,000 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 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. 1,000,000 Performance rights, expiring 21 December 2025, vesting upon the Company announcing a new JORC 2012 compliant mineral resource estimate of 50,000 tonnes Cu or equivalent KPI at the sole discretion of the Board 1,000,000 Performance rights, expiring 21 December 2025, vesting upon the Company announcing a new JORC 2012 compliant mineral resource estimate of 100,000 tonnes Cu or equivalent KPI at the sole discretion of the Board 1,000,000 Performance rights, expiring 21 December 2025, vesting upon the Company announcing a new JORC 2012 compliant mineral resource estimate of 200,000 tonnes Cu or equivalent KPI at the sole discretion of the Board
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) Received upon the exercise of performance rights b & c) Performance rights exercised d, e & f) Long term incentive to Managing Director as approved by shareholders at the Company’s 2021 Annual General Meeting

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.

• See chapter 19 for defined terms.

Appendix 3Y Page 4

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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

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 5