HASTINGS TECHNOLOGY METALS LTD — Capital/Financing Update 2021

May 26, 2021

==> picture [484 x 103] intentionally omitted <==

ASX Announcement

27 May 2021

Grade control results confirm Bald Hill Mineral Resource

Highlights

• Grade-control drilling comprising 257 holes for 5,002m has been completed at Bald Hill, the largest deposit at the Yangibana Rare Earths Project and containing approximately 39% of the Yangibana Project’s total Mineral Resources.

• Correlation of tonnes, grades and total rare earth oxides (TREO) between the Yangibana Project Mineral Resource Upgrade (announced 5 May 2021) and the trial grade control model has been completed.

• The strong reconciliation confirms and exceeds the results for the same area from the Bald Hill Mineral Resource estimate by delivering:

o 6% more TREO; and

o 9% more resource tonnes

• Drilling results provide Hastings with significantly increased confidence in the target area earmarked for first Yangibana Project mine production and allow for more accurate delineation of ore and waste boundaries, with Bald Hill drill intercepts including;

• 7m @ 2.73% TREO from 5m, GC0434

• 4m @ 3.15% TREO from 10m, GC0291

• 5m @ 2.65% TREO from 12m, GC0268

• 5m @ 2.39% TREO from 8m, GC0312.

• The Yangibana Project’s Mineral Resource estimate stands at 27.42Mt @ 0.97% TREO for 266kt of rare earth oxides (ASX Announcement 5 May 2021)¹.

Australia’s next rare earths producer, Hastings Technology Metals Ltd ( ASX: HAS ) ( Hastings or the Company ), is pleased to announce results from the Bald Hill grade-control drilling campaign, completed as part of the 2020 Drilling Program at its Yangibana Rare Earths Project ( Yangibana ) in Western Australia’s Gascoyne region.

The grade control drilling campaign (Figure 2) was designed to test-drill a shallow area of mineralisation at the Bald Hill deposit, with all holes drilled to a targeted level below the natural surface. A close-spaced reverse circulation (RC) drill pattern of 5mE x 7mN was completed, with 257 holes for 5,002m being drilled.

¹Hastings is not aware of any new information or data that materially affects the information in this market announcement. In the case of estimates of ‘mineral resources’ or ‘ore reserves’, all material assumptions and technical parameters underpinning the estimates in this market announcement continue to apply and have not materially changed.

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 1 of 23

==> picture [99 x 31] intentionally omitted <==

This campaign targeted a zone within the first 20m (eight mining benches) from surface, containing enough material to define short-term mine planning at the start of production for a two-month period.

Table 1 shows the comparison between the Bald Hill Mineral Resource estimate and the grade-control model within the area of the grade-control drilling. The comparison suggests a slight increase in both tonnes and contained metal with only a minor loss of grade for both TREO and Nd2O3 + Pr6O11. The Mineral Resource estimate for Bald Hill used for this comparison was previously announced to the ASX by the Company on 5 May 2021 (see ASX announcement Yangibana Project updated Measured and Indicated Mineral Resources tonnes up by 54%, TREO oxides up 32% ).

Table 1. Reconciliation of grade control estimation vs Mineral Resource estimation at Bald Hill.

Category	Tonnes	%TREO	%Nd2O3+Pr6O11	TREO t
Grade Control	140,688	1.04	0.43	1,457
Mineral Resource	129,505	1.06	0.44	1,377
Difference	8.6%	-2.6%	-2.4%	5.8%

• Reporting of Bald Hill Mineral Resource and Grade control drilling is at a cut-off grade of 0.24% total rare earth oxides (TREO) similar to that used to report the Mineral Resource estimate.

A grade tonnage comparison between the grade-control model and the Mineral Resource estimate is shown in Figure 1 and indicates a strong correlation between both estimates. It should be noted that because the gradecontrol drilling was sampled in its entirety, there is more definition in the low-grade tail than what appeared in the Mineral Resource estimate due to the selective nature of the exploration sampling.

==> picture [484 x 306] intentionally omitted <==

Figure 1. Grade tonnage comparison, grade-control model and Mineral Resource estimate.

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 2 of 23

==> picture [99 x 31] intentionally omitted <==

==> picture [481 x 331] intentionally omitted <==

Figure 2. Location of the grade-control drilling area within the Bald Hill open pit.

Commenting on the results of the grade-control drilling at Bald Hill, Hastings Technology Metals’ Chief Operating Officer Andrew Reid said:

"The reconciliation provides confidence that close-spaced, grade-control drilling reflects our Mineral Resource estimates, which further mitigates the start-up risk for our Yangibana Rare Earths Project.

“These initial results indicate the potential for more tonnage and more contained rare earth oxides within the Bald Hill starter pit, which potentially reduces the strip ratio at the beginning of the mine life, as well as providing substantially more data to optimise mine planning.

“The strong continuity of mineralisation defined by the grade-control drilling at the start of the mine life provides a high level of confidence during mine start-up.”

==> picture [449 x 110] intentionally omitted <==

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 3 of 23

==> picture [99 x 31] intentionally omitted <==

Table 2 details the significant intercepts from the grade-control drilling. Two drill holes contained single metre intercepts – GC0428: 1m @ 0.28% TREO; GC0462: 1m @ 2.22% TREO – while the other drill holes returned values of at least 2m in length at greater than 0.34% TREO.

Table 2. Significant Intersections: results from grade control drilling.

Hole-ID	Depth From (m)	Depth To (m)	Intercept (m)	TREO %	Nd2O3 + Pr6O11 %	(Nd2O3 + Pr6O11) % of TREO	(Nd2O3 + Pr6O11) % of TREO
GC0291	10	14	4	3.15	1.19		41
GC0434	5	12	7	2.73	1.06		41
GC0252	13	17	4	2.69	1.03		39
GC0311	8	12	4	2.68	1.09		44
GC0268	12	17	5	2.65	1.10		42
GC0269	12	17	5	2.40	1.03		44
GC0312	8	13	5	2.39	0.85		41
GC0267	12	16	4	2.29	0.97		42
GC0317	15	18	3	2.26	0.93		41
GC0246	12	16	4	2.25	1.02		47
GC0245	12	16	4	2.22	1.04		50
GC0331	8	13	5	2.07	0.80		38
GC0318	13	19	6	2.01	0.80		41
GC0225	10	16	6	2.00	0.78		42
GC0309	9	12	3	1.96	0.82		39
GC0249	13	18	5	1.88	0.78		41
GC0456	9	12	3	1.80	0.71		40
GC0424	18	24	6	1.78	0.73		41
GC0319	10	20	10	1.77	0.74		44
GC0247	12	18	6	1.73	0.77		40
GC0292	9	14	5	1.72	0.75		46
GC0190	1	9	8	1.72	0.70		40
GC0270	12	17	5	1.71	0.73		42
GC0310	9	13	4	1.67	0.67		40
GC0243	8	17	9	1.66	0.71		42
GC0332	7	13	6	1.66	0.68		41
GC0212	0	10	10	1.60	0.62		38
GC0313	8	15	7	1.59	0.70		43
GC0290	9	14	5	1.59	0.71		46
GC0251	6	7	1	1.58	0.41		26
GC0262	6	16	10	1.57	0.65		42
GC0316	14	19	5	1.56	0.68		44
GC0314	9	14	5	1.56	0.66		42
GC0213	3	12	9	1.55	0.61		40
GC0250	13	18	5	1.54	0.66		42
GC0226	11	17	6	1.53	0.66		45
GC0289	10	13	3	1.52	0.67		44
GC0220	7	14	7	1.51	0.60		40

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 4 of 23

==> picture [99 x 31] intentionally omitted <==

GC0263	9	17	8	1.50	0.61	43
GC0288	10	12	2	1.50	0.64	46
GC0445	15	21	6	1.48	0.63	45
GC0248	13	18	5	1.47	0.66	45
GC0229	14	17	3	1.47	0.59	40
GC0277	7	14	7	1.45	0.58	40
GC0251	13	18	5	1.45	0.61	42
GC0324	13	17	4	1.40	0.57	42
GC0224	12	17	5	1.39	0.61	44
GC0345	12	17	5	1.36	0.53	39
GC0271	11	17	6	1.34	0.54	40
GC0244	11	18	7	1.34	0.60	43
GC0296	11	19	8	1.33	0.56	45
GC0381	20	23	3	1.31	0.58	43
GC0227	12	17	5	1.30	0.57	43
GC0221	5	12	7	1.29	0.52	41
GC0435	9	12	3	1.29	0.50	38
GC0272	11	17	6	1.28	0.52	42
GC0373	5	15	10	1.28	0.50	37
GC0286	11	14	3	1.28	0.63	49
GC0384	16	20	4	1.28	0.35	36
GC0421	20	24	4	1.27	0.53	44
GC0238	8	15	7	1.25	0.50	42
GC0388	10	15	5	1.25	0.49	39
GC0462	12	14	2	1.23	0.49	39
GC0241	6	13	7	1.22	0.51	42
GC0275	7	14	7	1.22	0.47	39
GC0443	18	24	6	1.22	0.49	41
GC0385	15	19	4	1.21	0.48	41
GC0232	6	10	4	1.21	0.51	43
GC0459	9	12	3	1.20	0.49	40

Table 3. Grade control drill hole location and status.

Hole ID	Drill **Type **	Depth (m)	Easting (m)	Northing (m)	RL (m)	Survey **Type **	Dip	Assay Status
GC0190	RC	11	428248	7356360	354	GPS	-90	reported
GC0191	RC	12	428253	7356360	354	GPS	-90	reported
GC0192	RC	14	428258	7356360	354	GPS	-90	reported
GC0193	RC	15	428263	7356360	354	GPS	-90	reported
GC0194	RC	15	428268	7356359	354	GPS	-90	reported
GC0211	RC	15	428248	7356367	354	GPS	-90	reported
GC0212	RC	15	428253	7356367	354	GPS	-90	reported
GC0213	RC	15	428258	7356367	354	GPS	-90	reported

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 5 of 23

==> picture [99 x 31] intentionally omitted <==

GC0214	RC	15	428262	7356367	354	GPS	-90	reported
GC0215	RC	15	428268	7356368	355	GPS	-90	reported
GC0216	RC	15	428272	7356368	354	GPS	-90	reported
GC0217	RC	15	428277	7356368	354	GPS	-90	reported
GC0218	RC	15	428283	7356368	354	GPS	-90	reported
GC0219	RC	15	428288	7356368	354	GPS	-90	reported
GC0220	RC	17	428293	7356368	354	GPS	-90	reported
GC0221	RC	20	428298	7356368	354	GPS	-90	reported
GC0222	RC	20	428303	7356368	354	GPS	-90	reported
GC0223	RC	20	428308	7356368	354	GPS	-90	reported
GC0224	RC	20	428313	7356368	354	GPS	-90	reported
GC0225	RC	19	428319	7356369	354	GPS	-90	reported
GC0226	RC	20	428324	7356369	354	GPS	-90	reported
GC0227	RC	20	428329	7356369	354	GPS	-90	reported
GC0228	RC	20	428333	7356369	354	GPS	-90	reported
GC0229	RC	20	428338	7356369	354	GPS	-90	reported
GC0230	RC	19	428343	7356369	354	GPS	-90	reported
GC0231	RC	19	428348	7356370	354	GPS	-90	reported
GC0232	RC	19	428248	7356374	355	GPS	-90	reported
GC0233	RC	17	428253	7356374	355	GPS	-90	reported
GC0234	RC	16	428258	7356375	355	GPS	-90	reported
GC0235	RC	16	428262	7356375	355	GPS	-90	reported
GC0236	RC	15	428269	7356375	355	GPS	-90	reported
GC0237	RC	15	428273	7356375	355	GPS	-90	reported
GC0238	RC	15	428278	7356375	355	GPS	-90	reported
GC0239	RC	15	428283	7356375	355	GPS	-90	reported
GC0240	RC	15	428288	7356376	355	GPS	-90	reported
GC0241	RC	17	428292	7356376	355	GPS	-90	reported
GC0242	RC	20	428298	7356376	354	GPS	-90	reported
GC0243	RC	20	428303	7356376	354	GPS	-90	reported
GC0244	RC	20	428308	7356376	354	GPS	-90	reported
GC0245	RC	20	428313	7356376	354	GPS	-90	reported
GC0246	RC	20	428318	7356376	354	GPS	-90	reported
GC0247	RC	20	428323	7356376	354	GPS	-90	reported
GC0248	RC	20	428327	7356376	354	GPS	-90	reported
GC0249	RC	20	428333	7356376	354	GPS	-90	reported
GC0250	RC	20	428338	7356376	354	GPS	-90	reported
GC0251	RC	20	428343	7356376	354	GPS	-90	reported
GC0252	RC	20	428348	7356376	354	GPS	-90	reported
GC0253	RC	24	428249	7356381	355	GPS	-90	reported
GC0254	RC	24	428253	7356382	355	GPS	-90	reported
GC0255	RC	23	428258	7356382	355	GPS	-90	reported
GC0256	RC	23	428263	7356382	355	GPS	-90	reported
GC0257	RC	22	428269	7356382	355	GPS	-90	reported

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 6 of 23

==> picture [99 x 31] intentionally omitted <==

GC0258	RC	20	428273	7356382	355	GPS	-90	reported
GC0259	RC	18	428278	7356382	355	GPS	-90	reported
GC0260	RC	16	428283	7356382	355	GPS	-90	reported
GC0261	RC	16	428288	7356382	355	GPS	-90	reported
GC0262	RC	18	428293	7356382	355	GPS	-90	reported
GC0263	RC	20	428298	7356382	355	GPS	-90	reported
GC0264	RC	20	428304	7356383	355	GPS	-90	reported
GC0265	RC	20	428309	7356383	355	GPS	-90	reported
GC0266	RC	20	428313	7356383	355	GPS	-90	reported
GC0267	RC	20	428319	7356383	355	GPS	-90	reported
GC0268	RC	20	428324	7356383	355	GPS	-90	reported
GC0269	RC	20	428328	7356383	355	GPS	-90	reported
GC0270	RC	20	428333	7356383	355	GPS	-90	reported
GC0271	RC	20	428338	7356383	354	GPS	-90	reported
GC0272	RC	20	428343	7356383	355	GPS	-90	reported
GC0273	RC	20	428347	7356383	355	GPS	-90	reported
GC0274	RC	24	428249	7356388	356	GPS	-90	reported
GC0275	RC	24	428253	7356388	355	GPS	-90	reported
GC0276	RC	24	428258	7356389	356	GPS	-90	reported
GC0277	RC	23	428263	7356389	356	GPS	-90	reported
GC0278	RC	22	428269	7356389	356	GPS	-90	reported
GC0279	RC	22	428274	7356389	356	GPS	-90	reported
GC0280	RC	21	428278	7356389	356	GPS	-90	reported
GC0281	RC	21	428283	7356389	356	GPS	-90	reported
GC0282	RC	21	428288	7356389	356	GPS	-90	reported
GC0283	RC	21	428294	7356389	355	GPS	-90	reported
GC0284	RC	21	428298	7356389	355	GPS	-90	reported
GC0285	RC	20	428304	7356389	355	GPS	-90	reported
GC0286	RC	20	428309	7356390	355	GPS	-90	reported
GC0287	RC	20	428313	7356390	355	GPS	-90	reported
GC0288	RC	19	428318	7356390	355	GPS	-90	reported
GC0289	RC	18	428324	7356390	355	GPS	-90	reported
GC0290	RC	17	428328	7356390	355	GPS	-90	reported
GC0291	RC	17	428334	7356390	355	GPS	-90	reported
GC0292	RC	16	428338	7356390	355	GPS	-90	reported
GC0293	RC	16	428343	7356390	355	GPS	-90	reported
GC0294	RC	15	428348	7356391	355	GPS	-90	Reported
GC0295	RC	25	428248	7356397	356	GPS	-90	reported
GC0296	RC	24	428253	7356397	356	GPS	-90	reported
GC0297	RC	24	428258	7356397	356	GPS	-90	reported
GC0298	RC	23	428264	7356397	356	GPS	-90	reported
GC0299	RC	23	428269	7356397	356	GPS	-90	reported
GC0300	RC	22	428274	7356396	356	GPS	-90	reported
GC0301	RC	22	428279	7356397	356	GPS	-90	reported

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 7 of 23

==> picture [99 x 31] intentionally omitted <==

GC0302	RC	21	428284	7356397	356	GPS	-90	reported
GC0303	RC	21	428289	7356397	356	GPS	-90	reported
GC0304	RC	21	428294	7356397	356	GPS	-90	reported
GC0305	RC	21	428299	7356397	356	GPS	-90	reported
GC0306	RC	20	428303	7356397	356	GPS	-90	reported
GC0307	RC	20	428309	7356397	356	GPS	-90	reported
GC0308	RC	19	428313	7356397	356	GPS	-90	reported
GC0309	RC	19	428319	7356397	355	GPS	-90	reported
GC0310	RC	18	428324	7356397	355	GPS	-90	reported
GC0311	RC	18	428328	7356397	355	GPS	-90	reported
GC0312	RC	17	428333	7356397	355	GPS	-90	reported
GC0313	RC	17	428339	7356397	355	GPS	-90	reported
GC0314	RC	16	428343	7356397	355	GPS	-90	reported
GC0315	RC	16	428349	7356397	355	GPS	-90	reported
GC0316	RC	22	428248	7356403	356	GPS	-90	reported
GC0317	RC	22	428254	7356404	356	GPS	-90	reported
GC0318	RC	22	428259	7356404	357	GPS	-90	reported
GC0319	RC	22	428264	7356403	357	GPS	-90	reported
GC0320	RC	23	428269	7356404	357	GPS	-90	reported
GC0321	RC	22	428274	7356404	356	GPS	-90	reported
GC0322	RC	22	428279	7356404	356	GPS	-90	reported
GC0323	RC	23	428284	7356404	356	GPS	-90	reported
GC0324	RC	22	428289	7356404	356	GPS	-90	reported
GC0325	RC	22	428294	7356404	356	GPS	-90	reported
GC0326	RC	21	428299	7356404	356	GPS	-90	reported
GC0327	RC	21	428303	7356404	356	GPS	-90	reported
GC0328	RC	20	428309	7356404	356	GPS	-90	reported
GC0329	RC	20	428314	7356404	356	GPS	-90	reported
GC0330	RC	19	428318	7356404	356	GPS	-90	reported
GC0331	RC	18	428323	7356404	356	GPS	-90	reported
GC0332	RC	18	428329	7356404	356	GPS	-90	reported
GC0333	RC	17	428334	7356404	355	GPS	-90	reported
GC0334	RC	17	428338	7356404	355	GPS	-90	reported
GC0335	RC	16	428343	7356404	355	GPS	-90	reported
GC0336	RC	16	428348	7356405	355	GPS	-90	reported
GC0337	RC	22	428249	7356411	357	GPS	-90	reported
GC0338	RC	22	428254	7356411	357	GPS	-90	Reported
GC0339	RC	22	428259	7356411	357	GPS	-90	reported
GC0340	RC	22	428264	7356411	357	GPS	-90	reported
GC0341	RC	22	428269	7356411	357	GPS	-90	reported
GC0342	RC	22	428274	7356411	357	GPS	-90	reported
GC0343	RC	22	428279	7356411	357	GPS	-90	reported
GC0344	RC	22	428284	7356411	357	GPS	-90	reported
GC0345	RC	22	428289	7356411	356	GPS	-90	reported

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 8 of 23

==> picture [99 x 31] intentionally omitted <==

GC0346	RC	22	428294	7356411	356	GPS	-90	reported
GC0347	RC	17	428299	7356411	356	GPS	-90	reported
GC0348	RC	17	428304	7356411	356	GPS	-90	reported
GC0349	RC	17	428309	7356411	356	GPS	-90	reported
GC0350	RC	17	428314	7356411	356	GPS	-90	reported
GC0351	RC	17	428319	7356411	356	GPS	-90	reported
GC0352	RC	17	428324	7356411	356	GPS	-90	reported
GC0353	RC	17	428329	7356411	356	GPS	-90	reported
GC0354	RC	17	428333	7356411	356	GPS	-90	reported
GC0355	RC	17	428338	7356411	356	GPS	-90	reported
GC0356	RC	17	428343	7356412	356	GPS	-90	reported
GC0357	RC	16	428348	7356411	356	GPS	-90	reported
GC0358	RC	23	428249	7356418	357	GPS	-90	reported
GC0359	RC	23	428254	7356418	357	GPS	-90	reported
GC0360	RC	23	428259	7356418	357	GPS	-90	reported
GC0361	RC	23	428264	7356418	357	GPS	-90	reported
GC0362	RC	23	428269	7356418	357	GPS	-90	reported
GC0363	RC	23	428274	7356418	357	GPS	-90	reported
GC0364	RC	23	428279	7356418	357	GPS	-90	reported
GC0365	RC	22	428284	7356418	357	GPS	-90	reported
GC0366	RC	22	428289	7356418	357	GPS	-90	reported
GC0367	RC	19	428294	7356418	357	GPS	-90	reported
GC0368	RC	17	428298	7356418	357	GPS	-90	reported
GC0369	RC	17	428304	7356418	357	GPS	-90	reported
GC0370	RC	17	428309	7356418	357	GPS	-90	reported
GC0371	RC	17	428314	7356418	357	GPS	-90	reported
GC0372	RC	17	428319	7356418	356	GPS	-90	reported
GC0373	RC	17	428324	7356418	356	GPS	-90	reported
GC0374	RC	17	428329	7356418	356	GPS	-90	reported
GC0375	RC	17	428333	7356418	356	GPS	-90	reported
GC0376	RC	17	428338	7356418	356	GPS	-90	Reported
GC0377	RC	16	428344	7356418	356	GPS	-90	reported
GC0378	RC	16	428349	7356418	356	GPS	-90	reported
GC0379	RC	23	428249	7356426	358	GPS	-90	reported
GC0380	RC	23	428254	7356425	358	GPS	-90	reported
GC0381	RC	23	428259	7356425	358	GPS	-90	reported
GC0382	RC	23	428264	7356425	358	GPS	-90	reported
GC0383	RC	23	428269	7356425	358	GPS	-90	reported
GC0384	RC	23	428273	7356425	358	GPS	-90	reported
GC0385	RC	23	428279	7356425	358	GPS	-90	reported
GC0386	RC	23	428284	7356425	357	GPS	-90	reported
GC0387	RC	23	428289	7356425	357	GPS	-90	reported
GC0388	RC	18	428294	7356426	357	GPS	-90	reported
GC0389	RC	18	428299	7356425	357	GPS	-90	reported

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 9 of 23

==> picture [99 x 31] intentionally omitted <==

GC0390	RC	17	428304	7356425	357	GPS	-90	reported
GC0391	RC	17	428309	7356425	357	GPS	-90	reported
GC0392	RC	17	428314	7356425	357	GPS	-90	reported
GC0393	RC	17	428319	7356425	357	GPS	-90	reported
GC0394	RC	17	428324	7356425	357	GPS	-90	reported
GC0395	RC	17	428329	7356425	357	GPS	-90	reported
GC0396	RC	17	428334	7356425	356	GPS	-90	reported
GC0397	RC	17	428339	7356425	356	GPS	-90	reported
GC0398	RC	17	428344	7356425	356	GPS	-90	reported
GC0399	RC	17	428348	7356425	356	GPS	-90	reported
GC0400	RC	24	428249	7356433	358	GPS	-90	reported
GC0401	RC	24	428255	7356432	358	GPS	-90	reported
GC0402	RC	24	428259	7356432	358	GPS	-90	reported
GC0403	RC	24	428264	7356432	358	GPS	-90	reported
GC0404	RC	24	428269	7356432	358	GPS	-90	reported
GC0405	RC	24	428274	7356432	358	GPS	-90	reported
GC0406	RC	24	428280	7356432	358	GPS	-90	reported
GC0407	RC	24	428284	7356432	358	GPS	-90	reported
GC0408	RC	18	428289	7356432	358	GPS	-90	reported
GC0409	RC	18	428294	7356432	357	GPS	-90	reported
GC0410	RC	18	428299	7356432	357	GPS	-90	reported
GC0411	RC	18	428304	7356432	357	GPS	-90	reported
GC0412	RC	18	428309	7356432	357	GPS	-90	reported
GC0413	RC	18	428314	7356432	357	GPS	-90	reported
GC0414	RC	18	428319	7356432	357	GPS	-90	reported
GC0415	RC	18	428324	7356432	357	GPS	-90	reported
GC0416	RC	18	428329	7356432	357	GPS	-90	reported
GC0417	RC	18	428334	7356432	357	GPS	-90	reported
GC0418	RC	18	428339	7356432	357	GPS	-90	reported
GC0419	RC	18	428344	7356432	357	GPS	-90	reported
GC0420	RC	18	428349	7356433	357	GPS	-90	reported
GC0421	RC	24	428249	7356439	359	GPS	-90	reported
GC0422	RC	24	428254	7356439	359	GPS	-90	reported
GC0423	RC	24	428259	7356439	358	GPS	-90	reported
GC0424	RC	24	428264	7356439	358	GPS	-90	reported
GC0425	RC	24	428269	7356439	358	GPS	-90	Reported
GC0426	RC	24	428274	7356439	358	GPS	-90	reported
GC0427	RC	24	428279	7356439	358	GPS	-90	reported
GC0428	RC	18	428283	7356439	358	GPS	-90	reported
GC0429	RC	18	428289	7356439	358	GPS	-90	reported
GC0430	RC	18	428294	7356439	358	GPS	-90	reported
GC0431	RC	18	428298	7356439	358	GPS	-90	reported
GC0432	RC	18	428304	7356439	357	GPS	-90	reported
GC0433	RC	18	428308	7356439	357	GPS	-90	reported

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 10 of 23

==> picture [99 x 31] intentionally omitted <==

GC0434	RC	18	428314	7356439	357	GPS	-90	reported
GC0435	RC	18	428318	7356439	357	GPS	-90	reported
GC0436	RC	18	428324	7356439	357	GPS	-90	reported
GC0437	RC	18	428329	7356439	357	GPS	-90	reported
GC0438	RC	18	428334	7356438	357	GPS	-90	reported
GC0439	RC	18	428339	7356438	357	GPS	-90	reported
GC0440	RC	18	428344	7356438	357	GPS	-90	reported
GC0441	RC	18	428348	7356439	357	GPS	-90	reported
GC0442	RC	24	428249	7356446	359	GPS	-90	reported
GC0443	RC	24	428254	7356446	359	GPS	-90	reported
GC0444	RC	24	428258	7356446	359	GPS	-90	reported
GC0445	RC	24	428263	7356446	359	GPS	-90	reported
GC0446	RC	24	428268	7356446	359	GPS	-90	reported
GC0447	RC	24	428273	7356446	359	GPS	-90	reported
GC0448	RC	18	428278	7356446	358	GPS	-90	reported
GC0449	RC	18	428283	7356446	358	GPS	-90	reported
GC0450	RC	18	428289	7356446	358	GPS	-90	reported
GC0451	RC	18	428293	7356446	358	GPS	-90	reported
GC0452	RC	18	428299	7356446	358	GPS	-90	reported
GC0453	RC	18	428304	7356446	358	GPS	-90	reported
GC0454	RC	18	428309	7356446	358	GPS	-90	reported
GC0455	RC	18	428313	7356446	358	GPS	-90	reported
GC0456	RC	18	428319	7356445	358	GPS	-90	reported
GC0457	RC	18	428324	7356445	358	GPS	-90	reported
GC0458	RC	18	428328	7356445	357	GPS	-90	reported
GC0459	RC	18	428334	7356445	357	GPS	-90	reported
GC0460	RC	18	428338	7356445	357	GPS	-90	reported
GC0461	RC	18	428343	7356445	357	GPS	-90	reported
GC0462	RC	18	428349	7356445	357	GPS	-90	reported
GC0426	RC	24	428274	7356439	358	GPS	-90	reported
GC0427	RC	24	428279	7356439	358	GPS	-90	reported
GC0428	RC	18	428283	7356439	358	GPS	-90	reported
GC0429	RC	18	428289	7356439	358	GPS	-90	reported
GC0430	RC	18	428294	7356439	358	GPS	-90	reported
GC0431	RC	18	428298	7356439	358	GPS	-90	reported
GC0432	RC	18	428304	7356439	357	GPS	-90	Reported
GC0433	RC	18	428308	7356439	357	GPS	-90	reported
GC0434	RC	18	428314	7356439	357	GPS	-90	reported
GC0435	RC	18	428318	7356439	357	GPS	-90	reported
GC0436	RC	18	428324	7356439	357	GPS	-90	reported
GC0437	RC	18	428329	7356439	357	GPS	-90	reported
GC0438	RC	18	428334	7356438	357	GPS	-90	reported
GC0439	RC	18	428339	7356438	357	GPS	-90	reported
GC0440	RC	18	428344	7356438	357	GPS	-90	reported

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 11 of 23

==> picture [99 x 31] intentionally omitted <==

GC0441 RC 18 428348 7356439 357 GPS -90 reported GC0442 RC 24 428249 7356446 359 GPS -90 reported GC0443 RC 24 428254 7356446 359 GPS -90 reported GC0444 RC 24 428258 7356446 359 GPS -90 reported GC0445 RC 24 428263 7356446 359 GPS -90 reported GC0446 RC 24 428268 7356446 359 GPS -90 reported GC0447 RC 24 428273 7356446 359 GPS -90 reported GC0448 RC 18 428278 7356446 358 GPS -90 reported GC0449 RC 18 428283 7356446 358 GPS -90 reported GC0450 RC 18 428289 7356446 358 GPS -90 reported GC0451 RC 18 428293 7356446 358 GPS -90 reported GC0452 RC 18 428299 7356446 358 GPS -90 reported GC0453 RC 18 428304 7356446 358 GPS -90 reported GC0454 RC 18 428309 7356446 358 GPS -90 reported GC0455 RC 18 428313 7356446 358 GPS -90 reported GC0456 RC 18 428319 7356445 358 GPS -90 reported GC0457 RC 18 428324 7356445 358 GPS -90 reported GC0458 RC 18 428328 7356445 357 GPS -90 reported GC0459 RC 18 428334 7356445 357 GPS -90 reported GC0460 RC 18 428338 7356445 357 GPS -90 reported GC0461 RC 18 428343 7356445 357 GPS -90 reported GC0462 RC 18 428349 7356445 357 GPS -90 reported

Drilling

Hastings completed an extensive drill campaign at Bald Hill during 2020 that comprised 257 holes for 5,002m of reverse circulation (RC).

Holes were drilled on a 5m x 7m grid pattern, with all holes drilled vertically with a maximum hole depth of 25m and an average depth of 20m.

Collar surveys were carried out and collected by RM Surveyors using DGPS utilising a locally established control point. Accuracies of the drillhole collar locations collected by RM Surveyors is better than 0.1m.

RC holes were drilled using a nominal 5¼ inch diameter face-sampling bit. Samples were collected through a builtin cyclone with a triple-tier riffle-splitting system providing a large sample of approximately 25kg and a sub-sample of 2-4kg from each metre drilled, of which selected samples were sent for analysis. Field duplicates, blanks and Reference Standards were inserted at a rate of approximately 1 in 20.

Sampling

Samples were routinely sent to Genalysis in Perth for analysis using techniques considered appropriate for the style of mineralisation. Samples were analysed for the range of rare earths, rare metals (Nb, Ta, Zr), thorium and uranium and a range of common rock-forming elements (Al, Ca, Fe, Mg, Mn, P, S, Si, Sr). Duplicate samples were sent to SGS Laboratories for cross-checking.

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 12 of 23

==> picture [99 x 31] intentionally omitted <==

Once assay data were returned, the elemental values were converted to oxides using standard factors.

Quality Control

In total, the quality control regime executed has provided reasonable support for the accuracy and precision of the assay results underpinning the Mineral Resource estimate. The vast majority of results for standards remain within the normal control limits of 2 standard deviations.

Bulk density values used for the grade control estimate were derived from those used during the recently announced Mineral Resource estimate.

Interpretation of Geology

The mineralisation at Yangibana comprises a series of narrow-vein, high-grade deposits with strike extents up to several kilometres. Individual mineralised zones are 1m to 15m wide and extend down-dip for at least 125m, with dips varying from sub-horizontal to sub-vertical.

Confidence in the geological interpretation is considered to be good. The interpretation is based on a drilling density of 5mE x 7mN. The interpretation also incorporates data gathered from surface mapping of exposures. The mapping has assisted in understanding the controls on mineralisation to improve the confidence in the geological interpretation. All available data from drilling and mapping is used in the geological interpretation. An iterative process has been adopted with respect to the geological interpretation to ensure that it reflects and captures the mineralisation.

The drilling data was sampled at 1m with all intervals sent for assay. As a consequence, the grade-control dataset represents a more continuous and less selectively sampled dataset relative to the underlying Mineral Resource dataset.

In a limited number of cases where the assay values did not meet the TREO cut-off grade criteria for wireframing, an assessment of the mineralisation was undertaken using elevated Fe values. This was done to enable a consistent mineralised envelope with the low TREO (and other element) values incorporated. In general, these areas are of limited extent. A minimum thickness value of 2m was applied to the mineralisation wireframe in order to more reasonably assess the mining potential of the drill pattern.

Cut-Off Grades

Wireframing of the grade control pattern was conducted using a TREO cut-off grade in order to improve the geological and grade consistency of the modelled wireframe. In this instance, a TREO grade of approximately 0.20% was chosen for the wireframing value as this was considered to represent the transition between consistently mineralised and non-mineralised material.

This process created a level of conservatism whereby lower grades of Nd2O3+Pr6O11 were incorporated into the wireframe. Additional conservatism was added by only allowing the wireframes to be extrapolated down dip below the last drill hole, using the geological convention of 50% of the local drill hole spacing.

Block Modelling Parameters for Grade Control Estimate

Due to the complexity and generally narrow nature of the mineralisation, the Mineral Resource estimates were undertaken on ‘flattened’ block models following the allocation of block proportions from the updated mineralisation wireframes. This flattening process allowed for the use of Ordinary Kriging estimation techniques.

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 13 of 23

==> picture [99 x 31] intentionally omitted <==

One-metre down-hole compositing based on the assay data and wireframes was used to regularise the assayed intervals. Summary statistics for each deposit were used to identify the presence of outliers. Due to the distribution of grades within the mineralisation and the relatively un-skewed data population no top cuts were deemed necessary.

For the grade-control estimate, variograms of TREO were used from the previous Mineral Resource estimate in order to more reasonably compare the two estimates. In all instances the directional trends evident in the variogram maps are evident to some extent in plan views of the sample data and they normally conform to the orientation of the mineralisation within the wireframes. As expected, variogram model ranges in the vertical direction are relatively short due to the predominantly thin nature of the mineralisation. The majority of variograms display reasonable structure, with anisotropies reflecting those observed in the variogram maps.

The grade-control model was created with the same block size of 2m x 2m x 1m as the underlying Mineral Resource estimate in order to validate the parameters of the Mineral Resource estimate. This size was chosen as a compromise between the average drill spacing, size of the mineralisation wireframes (in order to limit resulting low mineralised proportions), orientation of the mineralisation, grade distribution within the mineralisation and the models’ ultimate use for grade-control assessment.

==> picture [480 x 234] intentionally omitted <==

Figure 3. Grade control drilling section 7,356,368mN.

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 14 of 23

==> picture [99 x 31] intentionally omitted <==

==> picture [480 x 237] intentionally omitted <==

Figure 4. Grade control drilling section 7,356,382mN.

Figures 3 and 4 show the orientation of the mineralisation and grade distribution through the grade-control drilling area and indicate the consistency of the mineralisation.

This announcement has been approved by the Board for release to the ASX.

For further information, please contact:

Charles Lew Matthew Allen Andrew Reid Executive Chairman Chief Financial Officer Chief Operating Officer +65 6220 9220 +61 8 6117 8634 +61 8 6117 8621

For media and investor queries, please contact:

Peter Klinger Peter Kermode Cannings Purple Cannings Purple +61 411 251 540 +61 411 209 459 pklinger@canningspurple.com.au pkermode@canningspurple.com.au

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 15 of 23

==> picture [99 x 31] intentionally omitted <==

About Hastings Technology Metals Limited

Hastings Technology Metals Limited (ASX: HAS) is a well-led Perth rare earths company primed to become the world’s next producer of neodymium and praseodymium concentrate (NdPr).

NdPr are vital components in the permanent magnets used every day in high-tech products ranging from electric vehicles to wind turbines, robotics and medical applications.

Hastings’ flagship Yangibana project, in the Gascoyne region of Western Australia, contains one of the most highly valued NdPr deposits in the world. Fully permitted to long-life production and with project finance and offtake talks well advanced, Yangibana’s construction is due to start in 2021 ahead of first output in 2023.

Hastings also owns and operates the Brockman project, Australia’s largest heavy rare earths deposit, near Halls Creek in the Kimberley. Brockman hosts a JORC complaint minerals resource containing Total Rare Earths Oxides (TREO).

For further information on the Company and its projects visit www.hastingstechmetals.com

Competent Person Statements

The information in this announcement that relates to Exploration Results in relation to the Yangibana Project is based on information compiled by Mr. Andrew Reid BSc (Hons) MSc FAUSIMM, a Competent Person, who is a Fellow of the Australian Institute of Mining and Metallurgy. Mr. Reid is a full-time employee of the company and has sufficient experience that is relevant to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves. The Qualified Person has verified the data disclosed in this release, including sampling, analytical and test data underlying the information contained in this release. Mr. Reid consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

The information in this announcement that relates to Mineral Resources is based on information compiled by David Princep. Mr Princep is an independent consultant to the Company and members of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Princep has sufficient experience relevant to the styles of mineralisation and types of deposits which are covered in this announcement 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”).

TERMINOLOGY USED IN THIS REPORT

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

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 16 of 23

==> picture [99 x 31] intentionally omitted <==

JORC Code, 2012 Edition – Bald Hill Grade Control 2021

Section 1 Sampling Techniques and Data

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

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.	• All drilling for the grade control programme at Bald Hill was Reverse Circulation (RC) using the same drill rig as the recently completed Mineral Resource update drilling. • Samples from each metre were collected in a cyclone and split using a 3-level riffle splitter. Field duplicates, blanks and Reference Standards were inserted at a rate of approximately 1 in 20.
Drilling techniques	Drill type (eg core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, 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).	• Reverse Circulation drilling utilised a nominal 5 1/4 inch diameter 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.	• Recoveries are recorded by the geologist in the field at the time of drilling/logging. During the 2020 programme all bags were weighed in the field. • If poor sample recovery is encountered during drilling, the geologist and driller have endeavoured to rectify the problem to ensure maximum sample recovery. Visual assessment is made for moisture and contamination. A cyclone and splitter were used to ensure representative samples and were routinely cleaned. • Sample recoveries to date have generally been reasonable,and moisture in samples minimal. Data
HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.comT+61 8 6117 6118 Page17of23

==> picture [99 x 31] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
		from 2020 is available at present to determine if a relationship exists between recovery and grade exist, however this work has not been completed as yet.
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 drill chip samples are geologically logged at 1m intervals from surface to the bottom of each individual hole to a level that supports grade control studies. • Logging is considered to be semi-quantitative given the nature of reverse circulation drill chips.
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. 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 in situ 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.	• The RC drilling rig is equipped with an in-built cyclone and triple tier riffle splitting system, which provided one bulk sample of approximately 25kg, and a sub-sample of 2-4kg per metre drilled. • All samples were split using the system described above to maximise and maintain consistent representivity. Most samples were dry. For wet samples the cleanliness of the cyclone and splitter was constantly monitored by the geologist and maintained to avoid contamination. • Bulk samples were placed in green plastic bags, with the sub-samples collected placed in calico sample bags. • Field duplicates were collected directly from the splitter as drilling proceeded through a secondary sample chute. These duplicates were designed for lab checks as well as lab umpire analysis if required. • A sample size of 2-4kg was collected and considered appropriate and representative for the grain size and style of mineralisation.
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.	• Genalysis (Perth) was used for all analysis work carried out on the 1m drill chip samples. The laboratory techniques below are for all samples submitted to Genalysis and are considered appropriate for the style of mineralisation defined at the Yangibana REE Project: FP6/MS • Blind field duplicates were collected at a rate of approximately 1 duplicate for every 20 samples that are to be submitted to Genalysis for laboratory analysis. Field duplicates were split directly from the splitter as drilling proceeded at the request of the supervising geologist.

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 18 of 23

==> picture [99 x 31] intentionally omitted <==

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.	• At least two company personnel verify all significant intersections as well as the independent geological database provider. • All geological logging and sampling information is completed firstly on to paper logs before being transferred to Microsoft Excel spreadsheets and subsequently a Microsoft Access database. Physical logs and sampling data are returned to the Hastings head office for scanning and storage. Electronic copies of all information are backed up daily. • All 2020 field geological data capture was completed directly into excel or Ocris. • No adjustments of assay data are considered necessary.
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.	• Final drillhole collars completed the 2020 grade control drill campaign was collected by MHR Surveyors using DGPS utilising a locally established control point. Accuracies of the drillhole collar locations collected by MHR Surveyors is better than 0.1m. • Elevation data was recorded by MHR Surveyors. • Due to the short nature of the drill holes, averaging 20m, and the relatively flat nature of the mineralisation no down hole surveys were conducted during the grade control drilling programme. • Grid system used is MGA 94 (Zone 50)
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.	• Substantial areas of the main Bald Hill deposit have been infill drilled at a staggered 50m x 50m pattern, giving an effective 35m x 35 spacing, with some areas infilled to 20m x 20m and 20m x 10m in the 2018 drilling programme. • The Bald Hill grade control program covered an area of Measured category Mineral Resource with nominal 5mE x 7mN spacing drill programme. This area was chosen as it is likely to be the first area excavated at the expected start of mining. • No sample compositing is used in this report, all results detailed are the product of 1m downhole sample intervals.
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.	• Most drill holes in the 2020 grade control programme were drilled vertically as the mineralisation in the grade control pattern area is predominantly horizontal.

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 19 of 23

==> picture [99 x 31] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
Sample security	The measures taken to ensure sample security.	• The chain of custody is managed by the project 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 Technology Metals Ltd • Address of laboratory • Sample range • Samples were delivered by Hastings personnel to the Nexus Logistics base 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.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	• An audit of sampling for the Mineral Resource estimate has been completed. Additional umpire sampling was completed. A new source of standards is being used to cross-check data from existing standards and assayed samples that were acquired in the drilling programs comprising the underlying Mineral Resource.

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 20 of 23

==> picture [99 x 31] intentionally omitted <==

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.	• Drilling has been undertaken on numerous tenements within the Yangibana Project. • All Yangibana tenements are in good standing and no known impediments exist.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	• Ten of the Yangibana prospects were previously drilled to a limited extent by Hurlston Pty Limited in joint venture with Challenger Pty Limited in the late 1980s. Auer and Auer North were first drilled by Hastings in 2016.
Geology	Deposit type, geological setting and style of mineralisation.	• The Yangibana ironstones 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 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 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.	• Presented in Table 3

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 21 of 23

==> picture [99 x 31] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
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. 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.	• For significant intervals samples were composited at a cut-off grade of 0.24% TREO and incorporated up to 2 metres of internal waste.
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’).	• In the area of the grade control drilling the mineralisation is essential flat lying so mineralised intercepts represent the true thickness of the mineralisation.
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.	• Maps and sections are shown in the body of this announcement .
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 to avoid misleading reporting of Exploration Results.	• As the drilling is considered grade control for mining purposes only the highest/thickest intervals are reported as significant intervals however all drill holes intersected mineralisation and all are considered consistent with the mineralisation defined in the underlying Mineral Resource estimate.
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 results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	• Geological mapping has continued in the vicinity of the drilling as the programme proceeds.

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 22 of 23

==> picture [99 x 31] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
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.	• Numerous targets exist for expansion of the current JORC Mineral Resources within the Yangibana Project, as extensions to defined deposits, new targets identified from the Company’s various remote sensing surveys, and conceptual as yet untested targets at depth. • Additional grade control drilling is expected to be undertaken prior to mining in the normal course of events.

HASTINGS TECHNOLOGY METALS LIMITED Level 8 Westralia Plaza, 167 St Georges Terrace, Perth WA 6000 www.hastingstechmetals.com T +61 8 6117 6118 Page 23 of 23