HASTINGS TECHNOLOGY METALS LTD — Capital/Financing Update 2014

Aug 24, 2014

ASX Announcement 25 August 2014

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Hastings Rare Metals Limited ABN 43 122 911 399

ASX Code: HAS

Level 25, 31 Market Street Sydney NSW 2000 PO Box Q128 Queen Victoria Building NSW 1225 Australia

Telephone: +61 2 8268 8689 Facsimile: +61 2 82688699 admin@hastingsraremetals.com

Board and Management

Charles Lew (Chairman) Anthony Ho (Non Exec Director) Malcolm Mason (Non Exec Director) Simon Wallace (Non Exec Director)

HASTINGS COMMENCES 6,500m DRILLING PROGRAMME AT YANGIBANA

HIGHLIGHTS

• Stage 2 drilling of 6,500m commences at Yangibana

• Yangibana North JORC resource to be further tested along strike and at depth

• Seven additional prospective targets to be drilled

• Programme of Work approved for proposed drilling

• Heritage Site Clearance completed

• Reverse circulation and diamond drilling to be undertaken in Q3/Q4 2014

www.hastingsraremetals.com

Media & Investor Relations Fortbridge +612 9003 0477

Bill Kemmery +61 400 122 449 Marina Trusa +61 404 330 634

INTRODUCTION

Following the success of the Stage 1 drilling programme, Hastings Rare Metals Limited (ASX:HAS) is pleased to announce that it has commenced its Stage 2 drilling programme at the Yangibana Project in the Gascoyne region of Western Australia. Reverse circulation (RC) drilling is under way and diamond drilling is planned to start towards the end of September. A total of 6,500m of drilling is planned.

The target within the Yangibana Project is for rare earths mineralisation associated with ironstone lenses that occur within a large intrusive unit of carbonatite affinity, now termed the Gifford Creek Carbonatite Complex. Eleven such ironstone targets were previously drilled by Hurlston Pty Limited in the 1980s and non-JORC resources were estimated for each. These targets are numbered 1-11 on Figure 1 which shows the outline of the area in which Hastings has interests.

Hastings completed the first JORC resource estimate for the Yangibana Project, based on its Stage 1 drilling programme at the Yangibana North deposit (Prospect 1 in Figure 1,) in July 2014. This resource estimation was undertaken by

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ASX Announcement 25 August 2014

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independent consultants CoxRocks Pty Limited with results at a 5000ppm (0.5%) TREO cut-off shown in Table 1.

shown in Table 1.
Yangibana North	Tonnes (m)	ppm (%) TREO	ppm (%) CREO
Indicated	1.86	13800 (1.38)	3000 (0.30)
Inferred	1.50	12900 (1.29)	2800 (0.28)
TOTAL	3.36	13400 (1.34)	2900 (0.29)

Table 1 – Yangibana North JORC Resources (CoxRocks Pty Limited 7/14)

Stage 2 drilling aims to define initial resources at each of Bald Hill, Frasers, Lion’s Ear, Hook, Gossan, Kane’s Gossan, and Yangibana South. Further drilling will be undertaken at Yangibana North to expand on the initial resource estimation. Figure 2 shows the locations of these prospects within the Yangibana tenements.

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Figure 1 – Yangibana Project. Hastings tenements outlined in red. Drilled rare earths targets (1-11)

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ASX Announcement 25 August 2014

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Figure 2 – Base map showing proposed drill targets

Individual Prospect Reviews

Bald Hill Prospect

Eleven RC holes were drilled at Bald Hill in the 1980s. Results from Bald Hill South included some very high neodymium results. Recent rock chip sampling at Bald Hill (ASX release 17/6/14) provided further encouragement with 19 of 28 samples exceeding 5,000ppm TREO to a maximum of 60,550ppm TREO including 27,120ppm Nd2O3. Of additional interest, six samples returned greater than 5,000ppm Nb2O5 (niobium oxide) to a maximum of 66,010ppm.

Frasers

Seven RC holes were drilled at Frasers prospect in the 1980s returning consistently high neodymium grades including the highest neodymium intersection returned during that programme of 2m at 2.9% Nd2O3.

Lion’s Ear

Ten RC holes were drilled into the Lion’s Ear prospect in the 1980s returning moderate to high TREO grades. Rock chip sampling by Hastings has returned values ranging from 7,700ppm to 128,000ppm TREO from five samples, with the latter sample including 21,900ppm Nd2O3.

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Hook

Seventeen RC holes were drilled into the Hook prospect in the 1980s returning variable results with some very high grade zones indicated. Rock chip sampling by Hastings has returned values ranging from 3,400ppm TREO to 35,038ppm TREO from four samples.

Gossan

Three RC holes on one section were drilled in the 1980s at Gossan indicating modest grades and widths. Rock chip samples collected by Hastings averaged 16,728ppm TREO with a highest grade of 36,400ppm TREO including 7,100ppm Nd2O3.

Kane’s Gossan

Kane’s Gossan was tested by six RC holes in the 1980s indicating modest grades over widths to 4m over a long strike length. Five rock chip samples collected by Hastings peaked at 19,166ppm TREO including 3,758ppm Nd2O3.

Yangibana South

Five RC holes were drilled into the Yangibana South target in the 1980s indicating narrow, low grade mineralisation. Rock chip samples collected by Hastings, however, have averaged 14,025ppm TREO with a maximum of 29,200ppm TREO including 14,100ppm Nd2O3.

Yangibana North

Hastings will undertake additional drilling at Yangibana North to extend the current JORC resource to the west and at depth where it appears to be strengthening. This deeper drilling could intersect less oxidised material and provide the first intersections of fresh carbonatite-style mineralisation. An understanding of unaltered deeper mineralisation would provide important insights into the potential of deeper mineralisation at the Yangibana Project as a whole.

Diamond Drilling

Diamond drilling will be carried out within the current resource area at Yangibana North and those prospects that provide positive results during the RC drilling phase. The diamond drilling will provide samples for accurate measurement of specific gravity that directly affects the estimation of resources. The JORC resource estimation for Yangibana North is based on a specific gravity (SG) of 2.8.

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Summary

The targets to be tested during Q3/Q4 2014 are all within 100m of surface and most are much shallower.

On completion of the planned drilling programme of around 6,500m, it is expected that an Inferred Resource estimate will be feasible at each prospect. The Inferred Resources are also expected to remain open in all directions.

*** TREO** is the sum of the oxides of the heavy rare earth elements (HREO) and the light rare earth elements (LREO).

HREO is the sum of the oxides of the heavy rare earth elements europium (Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium (Tm), ytterbium (Yb), lutetium (Lu), and yttrium (Y).

CREO is the sum of the oxides of neodymium (Nd), europium (Eu), terbium (Tb), dysprosium (Dy), and yttrium (Y) that were classified by the US Department of Energy in 2011 to be in critical short supply in the foreseeable future.

LREO is the sum of the oxides of the light rare earth elements lanthanum (La), cerium (Ce), praseodymium (Pr), neodymium (Nd), and samarium (Sm).

For further information please contact:

Andy Border, General Manager Exploration +61 2 9078 7674 Guy Robertson, Company Secretary +61 2 9078 7674

Media & Investor relations: Fortbridge +612 9003 0477

Bill Kemmery +61 400 122 449 or Marina Trusa +61 404 330 634

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ASX Announcement 25 August 2014

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About Hastings Rare Metals

• Hastings Rare Metals is a leading Australian rare earths company, with two JORC compliant rare earths projects in Western Australia.

• The Hastings deposit contains JORC Indicated and Inferred Resources totalling 36.2 million tonnes (comprising 27.1mt Indicated Resources and 9.1mt Inferred Resources) at 0.21% TREO, including 0.18% HREO, plus 0.89% Z r O₂ and 0.35% Nd₂O₅.

• The Yangibana deposit contains JORC Indicated and Inferred Resources totalling 3.36 million tonnes at 1.34% TREO, including 0.29% of CREO (that includes 0.27% Nd2O3) (comprising 1.86 million tonnes at 1.38% TREO Indicated Resources and 1.50 million tonnes at 1.29% TREO in Inferred Resources).

• Rare earths are critical to a wide variety of current and new technologies,

• including smart phones, hybrid cars, wind turbines and energy efficient light bulbs.

• The Hastings deposit contains predominantly heavy rare earths (85%), such as dysprosium and yttrium, which are substantially more valuable than the more common light rare earths.

• The Company aims to capitalise on the strong demand for heavy rare earths created by expanding new technologies. It has recently validated the extensive historical work and completed a Scoping Study to confirm the economics of the Project.

Competent Person’s Statement

The information in this report that relates to Resources is based on information compiled by Simon Coxhell. Simon Coxhell is a consultant to the Company and a member of the Australasian Institute of Mining and Metallurgy. The information in this report that relates to Exploration Results is based on information compiled by Andy Border, an employee of the Company and a member of the Australasian Institute of Mining and Metallurgy.

Each has sufficient experience relevant to the styles of mineralisation and types of deposits which are covered in this report and to the activity which they are 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’ (“JORC Code”). Each consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears.

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JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

	Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
	Sampling	•	Nature and quality of sampling (eg cut channels,	•	Reverse circulation drilling was carried out at the
	techniques		random chips, or specific specialised industry		Yangibana North prospect to obtain drill chip
			standard measurement tools appropriate to the		samples from one-metre intervals from which a 2-
			minerals under investigation, such as down hole		4kg sample was collected for submission to the
			gamma sondes, or handheld XRF instruments,		laboratory for analysis for rare earths, rare metals,
			etc). These examples should not be taken as		U and Th. Mineralised zones were identified
			limiting the broad meaning of sampling.		visually during geological logging in the field.
		•	Include reference to measures taken to ensure	•	Samples from each metre were collected in a
			sample representivity and the appropriate		cyclone and split using a 3 level riffle splitter. Field
			calibration of any measurement tools or systems		duplicates and Reference Standards were
			used.		inserted at a rate of approximately 1 in 40.
		•	Aspects of the determination of mineralisation	•	Hurlston Pty Limited drilled RC holes at eleven
			that are Material to the Public Report.		ironstone targets within tenements in which
		•	In cases where ‘industry standard’ work has		Hastings has an interest, in the 1980s. The
			been done this would be relatively simple (eg		prospects on which the Exploration Targets are
			‘reverse circulation drilling was used to obtain 1		based were all drilled to some extent during that
			m samples from which 3 kg was pulverised to		phase of exploration. Hurlston reported the
			produce a 30 g charge for fire assay’). In other		results of most drill holes and a non-JORC
			cases more explanation may be required, such		resource estimation in its Annual Report for the
			as where there is coarse gold that has inherent		period 1/1/87 to 31/12/88 (A25937). This report
			sampling problems. Unusual commodities or		provides little data regarding processes used
			mineralisation types (eg submarine nodules)		during the exploration, but Hastings has
			may warrant disclosure of detailed information.		undertaken sufficient work on the project to
					indicate that Hurlston’s work was carried out
					professionally and that certain assumptions can
					reasonably be based on the results reported in
					that report.
	Drilling	•	Drill type (eg core, reverse circulation, open-hole	•	Reverse Circulation drilling at Yangibana North
	techniques		hammer, rotary air blast, auger, Bangka, sonic,		utilising a nominal 5 1/4 inch diameter face-
			etc) and details (eg core diameter, triple or		sampling hammer.
			standard tube, depth of diamond tails, face-	•	No details are known regarding the RC drilling
			sampling bit or other type, whether core is		carried out by Hurlston.
			_oriented and if so, by what method, etc). _
	Drill sample	•	Method of recording and assessing core and	•	Recoveries are recorded by the geologist in the
	recovery		chip sample recoveries and results assessed.		field at the time of drilling/logging.
		•	Measures taken to maximise sample recovery	•	If poor sample recovery is encountered during
			and ensure representative nature of the		drilling, the geologist and driller have endeavoured
			samples.		to rectify the problem to ensure maximum sample
		•	Whether a relationship exists between sample		recovery. Visual assessment is made for moisture
			recovery and grade and whether sample bias		and contamination. A cyclone and splitter were
			may have occurred due to preferential loss/gain		used to ensure representative samples and were
			of fine/coarse material.		routinely cleaned.
				•	Sample recoveries to date have generally been
					high, and moisture in samples minimal. Insufficient
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ASX Announcement 25 August 2014

	Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
					data is available at present to determine if a
					relationship exists between recovery and grade.
					This will be assessed once a statistically valid
					amount of data is available to make a
					determination.
				•	No details are known regarding the RC drilling
					carried out byHurlston.
	Logging	•	Whether core and chip samples have been	•	All drill chip samples are geologically logged at 1m
			geologically and geotechnically logged to a level		intervals from surface to the bottom of each
			of detail to support appropriate Mineral		individual hole to a level that will support
			Resource estimation, mining studies and		appropriate future Mineral Resource studies.
			metallurgical studies.	•	Logging is considered to be semi-quantitative
		•	Whether logging is qualitative or quantitative in		given the nature of reverse circulation drill chips
			nature. Core (or costean, channel, etc)		and the inability to obtain detailed geological
			photography.		information.
		•	The total length and percentage of the relevant	•	All RC drill holes in the current programme are
			intersections logged.		logged in full.
				•	No details are known regarding the RC drilling
					carried out byHurlston.
	Sub-	•	If core, whether cut or sawn and whether	•	The RC drilling rig was equipped with an in-built
	sampling		quarter, half or all core taken.		cyclone and triple tier riffle splitting system, which
	techniques	•	If non-core, whether riffled, tube sampled, rotary		provided one bulk sample of approximately 20kg,
	and sample		split, etc and whether sampled wet or dry.		and a sub-sample of 2-4kg per metre drilled.
	preparation	•	For all sample types, the nature, quality and	•	All samples were split using the system described
			appropriateness of the sample preparation		above to maximise and maintain consistent
			technique.		representivity. The majority of samples were dry.
		•	Quality control procedures adopted for all sub-		For wet samplesthecleanliness of the cyclone
			sampling stages to maximise representivity of		and splitter was constantly monitored by the
			samples.		geologist and maintained to avoid contamination.
		•	Measures taken to ensure that the sampling is	•	Bulk samples were placed in green plastic bags,
			representative of the in situ material collected,		with the sub-samples collected placed in calico
			including for instance results for field		sample bags.
			duplicate/second-half sampling.	•	Field duplicates were collected directly off the
		•	Whether sample sizes are appropriate to the		splitter as drilling proceeded through a secondary
			grain size of the material being sampled.		sample chute. These duplicates were designed for
					lab checks as well as lab umpire analysis.
				•	A sample size of 2-4kg was collected and
					considered appropriate and representative for the
					grain size and style of mineralisation.
				•	No details are known regarding the RC drilling
					carried out byHurlston.
	Quality of	•	The nature, quality and appropriateness of the	•	Genalysis (Perth) was used for all analysis work
	assay data		assaying and laboratory procedures used and		carried out on the 1m drill chip samples and the
	and		whether the technique is considered partial or		rock chip samples. The laboratory techniques
	laboratory		total.		below are for all samples submitted to Genalysis
	tests	•	For geophysical tools, spectrometers, handheld		and are considered appropriate for the style of
			XRF instruments, etc, the parameters used in		mineralisation defined at the Yangibana REE
			determining the analysis including instrument		Project:
			make and model, reading times, calibrations		FP6/MS
			factors applied and their derivation, etc.	•	Blind field duplicates were collected at a rate of 1
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	Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
		•	Nature of quality control procedures adopted (eg		duplicate for every 40 samples that are to be
			standards, blanks, duplicates, external		submitted to Genalysis for laboratory analysis.
			laboratory checks) and whether acceptable		Field duplicates were split directly off the splitter
			levels of accuracy (ie lack of bias) and precision		as drilling proceeded at the request of the
			have been established.		supervising geologist.
				•	No details are known regarding the RC drilling
					carried out byHurlston.
	Verification	•	The verification of significant intersections by	•	At least two company personnel verify all
	of sampling		either independent or alternative company		significant intersections.
	and assaying		personnel.	•	All geological logging and sampling information is
		•	The use of twinned holes.		completed firstly on to paper logs before being
		•	Documentation of primary data, data entry		transferred to Microsoft Excel spreadsheets.
			procedures, data verification, data storage		Physical logs and sampling data are returned to
			(physical and electronic) protocols.		the Hastings head office for scanning and storage.
		•	Discuss any adjustment to assay data.		Electronic copies of all information are backed up
					daily.
				•	No adjustments of assay data are considered
					necessary.
				•	No details are known regarding the RC drilling
					carried out byHurlston.
	Location of	•	Accuracy and quality of surveys used to locate	•	A Garmin GPSMap62 hand-held GPS is used to
	data points		drill holes (collar and down-hole surveys),		define the location of the drill hole collars.
			trenches, mine workings and other locations		Standard practice is for the GPS to be left at the
			used in Mineral Resource estimation.		site of the collar for a period of 5 minutes to obtain
		•	Specification of the grid system used.		a steady reading. Collar locations are considered
		•	Quality and adequacy of topographic control.		to be accurate to within 5m. Collars will be picked
					up by DGPS in the future. Down hole surveys are
					conducted by the drill contractors using a Reflex
					electronic single-shot camera with readings for dip
					and magnetic azimuth nominally taken every 30m
					down hole, except in holes of less than 30m. The
					instrument is positioned within a stainless steel
					drill rod so as not to affect the magnetic azimuth.
				•	Grid system used is MGA 94 (Zone 50)
				•	Topographic control is obtained from surface
					profiles created by drillhole collar data. It will be
					necessary to undertake more detailed topographic
					controls later in the programme.
				•	Most of Hurlston’s RC hole collars are preserved
					in the field. Many have been surveyed using a
					Garmin GPSMap62 hand-held GPS and results
					indicate that the Hurlston data can be regarded as
					professional and certainly indicative of the
					potential of the mineralisation.
	Data spacing	•	Data spacing for reporting of Exploration	•	Drill hole spacing is nominally 50m along drill-
	and		Results.		lines, with a line spacing of 50m. Collar locations
	distribution	•	Whether the data spacing and distribution is		were varied slightly dependent on access at a
			sufficient to establish the degree of geological		given site. Regional rock chip samples were
			and grade continuity appropriate for the Mineral		collected at sites of interest.
			Resource and Ore Reserve estimation	•	A drill hole section spacingof 50m is used with
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ASX Announcement 25 August 2014

	Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
			procedure(s) and classifications applied.		hole spacings at 50m. Further details are provided
		•	Whether sample compositing has been applied.		in the collar co-ordinate table contained elsewhere
					in this report.
				•	No sample compositing is used in this report, all
					results detailed are the product of 1m down hole
					sample intervals.
				•	Hurlston’s RC drilling was not systematic other
					than holes were drilled to test obvious outcropping
					mineralised zones at each of the eleven targets
					tested bythem.
	Orientation	•	Whether the orientation of sampling achieves	•	Most drill holes are planned to intersect the
	of data in		unbiased sampling of possible structures and		interpreted mineralised structures/lodes as near to
	relation to		the extent to which this is known, considering		a perpendicular angle as possible (subject to
	geological		the deposit type.		access to the preferred collar position).
	structure	•	If the relationship between the drilling orientation	•	Hurlston’s drilling was generally planned to
			and the orientation of key mineralised structures		intersect mineralisation as near to perpendicular
			is considered to have introduced a sampling		as possible. A few holes tested specific
			bias, this should be assessed and reported if		conceptual targets away from the obvious lenses.
			material.
	Sample	•	The measures taken to ensure sample security.	•	The chain of custody is managed by the project
	security				geologist who places calico sample bags in
					polyweave sacks. Up to 10 calico sample bags are
					placed in each sack. Each sack is clearly labelled
					with:
					• Hastings Rare Metals Ltd
					• Address of laboratory
					• Sample range
				•	Samples were delivered by Hastings personnel to
					the Nexus Logistics in order to be loaded on the
					next available truck for delivery to Genalysis. The
					freight provider delivers the samples directly to the
					laboratory. Detailed records are kept of all
					samples that are dispatched, including details of
					chain of custody.
				•	No details are known regarding the RC drilling
					carried out byHurlston
	Audits or	•	The results of any audits or reviews of sampling	•	No audit of sampling data has been completed to
	reviews		techniques and data.		date but a review will be conducted once all data
					from Genalysis (Perth) has been received. Data is
					validated when loading into the database and will
					be validated again prior to any Resource
					estimation studies.
				•	No details are known regarding the RC drilling
					carried out byHurlston

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ASX Announcement 25 August 2014

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

	Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
	Mineral	•	Type, reference name/number, location and	•	The RC drilling at Yangibana North was all
	tenement and		ownership including agreements or material		within E09/1043 – 70% held by Gascoyne
	land tenure		issues with third parties such as joint ventures,		Minerals Pty Ltd, 30% GTI Resources Ltd.
	status		partnerships, overriding royalties, native title	•	RC holes drilled by Hurlston occur within
			interests, historical sites, wilderness or national		tenements in which Hastings now has an
			park and environmental settings.		interest, being:-
		•	The security of the tenure held at the time of		Es09/1043, 1049, 1705 and 1706 – 70%;
			reporting along with any known impediments to		Es09/2007 and 2018, and P09/467 – 95%
			obtaining a licence to operate in the area.	•	P09/481 – 100%. The tenements are in good standing and no
					known impediments exist.
	Exploration	•	Acknowledgment and appraisal of exploration	•	RC drilling was completed at eleven ironstone
	done by other		by other parties.		targets in the 1980s by Hurlston Pty Limited.
	parties				Rock chip sampling programmes have been
					carried out more recently but adds little to the
					project.
	Geology	•	Deposit type, geological setting and style of	•	The Yangibana North and other ironstones
			mineralisation.		within the Yangibana Project are part of an
					extensive REE-mineralised system associated
					with the Gifford Creek Carbonatite Complex.
					The lenses have a total strike length of at least
					12km.
				•	These ironstone lenses have been explored
					previously to limited degree for base metals,
					manganese, uranium, diamonds and rare
					earths.
				•	The ironstones are considered by GSWA to be
					coeval with the numerous carbonatite sills that
					occur within Hastings tenements, or at least part
					of the same magmatic/hydrothermal system.
	Drill hole	•	A summary of all information material to the	•	Refer to details of drilling in table in the body of
	Information		understanding of the exploration results		this report and the appendices.
			including a tabulation of the following
			information for all Material drill holes:
			o easting and northing of the drill hole collar
			o elevation or RL (Reduced Level – elevation
			above sea level in metres) of the drill hole
			collar
			o dip and azimuth of the hole
			o down hole length and interception depth
			o 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.

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ASX Announcement 25 August 2014

	Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
	Data	•	In reporting Exploration Results, weighting	•	All intervals reported are composed of 1m down
	aggregation		averaging techniques, maximum and/or		hole intervals and as such are length weighted.
	methods		minimum grade truncations (eg cutting of high		A lower cut-off grade of 5000ppm TREO has
			grades) and cut-off grades are usually Material		been used for assessing significant intercepts,
			and should be stated.		and no upper cut-off grade was applied.
		•	Where aggregate intercepts incorporate short	•	Maximum internal dilution of 1m was
			lengths of high grade results and longer lengths		incorporated in reported significant intercepts.
			of low grade results, the procedure used for	•	No metal equivalents are used for reporting.
			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.
	Relationship	•	These relationships are particularly important in	•	True widths for mineralisation have not been
	between		the reporting of Exploration Results.		calculated and as such only down hole lengths
	mineralisation	•	If the geometry of the mineralisation with		have been reported.
	widths and		respect to the drill hole angle is known, its	•	While interpretation of the results is still in the
	intercept lengths		nature should be reported.		early stages, a better understanding of the
		•	If it is not known and only the down hole lengths		geometry of the deposit will be achieved, and
			are reported, there should be a clear statement		true widths reported, later in the programme. It
			to this effect (eg ‘down hole length, true width		is expected that true widths will be less than
			not known’).		down hole widths, due to the apparent steep
					nature of the mineralisation.
	Diagrams	•	Appropriate maps and sections (with scales)	•	Appropriate maps and sections are available in
			and tabulations of intercepts should be included		the body of this ASX announcement.
			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.
	Balanced	•	Where comprehensive reporting of all	•	Reporting of results in this report is considered
	reporting		Exploration Results is not practicable,		balanced.
			representative reporting of both low and high
			grades and/or widths should be practiced to
			avoid misleading reporting of Exploration
			Results.
	Other	•	Other exploration data, if meaningful and	•	No other significant exploration work has been
	substantive		material, should be reported including (but not		done by Hastings.
	exploration data		limited to): geological observations; geophysical
			survey results; geochemical survey results; bulk
			samples – size and method of treatment;
			metallurgical test results; bulk density,
			groundwater, geotechnical and rock
			characteristics; potential deleterious or
			contaminating substances.

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ASX Announcement 25 August 2014

• Further work • The nature and scale of planned further work • Based on the success of the May 2014 RC (eg tests for lateral extensions, depth drilling programme at Yangibana North the extensions or large-scale step-out drilling). Company is planning to drill-test another seven

• • Diagrams clearly highlighting the areas of targets. possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

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