HASTINGS TECHNOLOGY METALS LTD — Management Reports 2016

Nov 20, 2016

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21 November 2016

HIGH Nd‐Pr MINERALISATION AT AUER NORTH

Hastings Technology Metals Limited ABN 43 122 911 399

HIGHLIGHTS

ASX Code: Shares ‐ HAS

• Drill assay results from the Fraser’s Southwest area confirm Auer North as a 1.6km‐long extension to the recently reported discovery of Auer deposit.

• Auer North prospect currently comprises three mineralised zones, each of 250m length.

Level 25, 31 Market Street

Sydney NSW 2000

PO Box Q128 Queen Victoria Building NSW 1220 Australia

Telephone: +61 2 8268 8689 Facsimile: +61 2 8268 8699

• Best down hole intersections include:‐

• 10m (98‐108m) at 2.08%TREO including 0.69%Nd2O3+Pr2O3 9m (81‐90m) at 1.56%TREO including 0.62%Nd2O3+Pr2O3 9m (39‐48m) at 1.30%TREO including 0.46%Nd2O3+Pr2O3 9m (23‐32m) at 1.28%TREO including 0.51%Nd2O3+Pr2O3 7m (19‐26m) at 1.42%TREO including 0.51%Nd2O3+Pr2O3 6m (95‐101m) at 1.94%TREO including 0.61%Nd2O3+Pr2O3

• Auer North mineralisation is of the higher value neodymium‐ praseodymium rich style, similar to the Eastern Belt mineralisation that is intended for early development.

info@hastingstechmetals.com

INTRODUCTION

Board

Charles Lew (Executive Chairman) Anthony Ho (Non‐Exec Director) Malcolm Mason (Non‐Exec Director) Jean Claude Steinmetz (Non‐Exec Director)

The Directors of Hastings Technology Metals Limited (ASX:HAS) are pleased to announce that further drilling results from the Fraser’s Southwest area confirm a northern extension of the recently‐ reported discovery of Auer deposit. Both Auer and the newly‐ identified Auer North deposit host potentially mineable resources, adding to the known resources within the Yangibana Project, located in the Gascoyne Province of Western Australia.

.

Results from Auer North indicate three mineralised zones each of approximately 250m strike length within the 1.6 km drill‐tested to date. The mineralisation remains open at depth and to the north, providing opportunities for further extension to this mineralisation.

www.hastingstechmetals.com

_______________ Address Level 25, 31 Market St, Sydney NSW 2000 Postal Address PO Box Q128 Queen Victoria Building NSW 1230

Telephone 02 8268 8689 Fax 02 8268 8699 Email info@hastingstechmetals.com Website www.hastingstechmetals.com ABN 43 122 911 399

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Assays have also been received from an exploration hole drilled 100m to the west of the previous drilling at Bald Hill South, returning 6m at 1.47%TREO.

Three holes drilled at Fraser’s intersected the mineralised, and water‐bearing, zone. The north‐western‐most hole encountered the projected extension of a high‐grade mineralised shoot intersected in recent drilling further southeast. Assays are awaited.

RESOURCE EXPANSION DRILLING

The majority of the assays from the drilling programme at Fraser’s Southwest have been received and the northern extension of the recently discovered Auer deposit has been confirmed. This extension, Auer North, has been tested over 1.6km with mineralisation of economic interest identified in three 250m long zones. These zones correlate well with higher magnetic areas defined in the recent aeromagnetic/radiometric survey flown over the Project.

Table 1 provides the best intersections from the Auer North prospect. True widths are estimated to be approximately half of the intersected width.

Hole ANRC	From (m)	To (m)	Interval (m)	%TREO	%Nd2O3+Pr2O3	%(Nd2O3+Pr2O3)/TREO
7	19	26	7	1.42	0.51	36
8	39	48	9	1.30	0.46	35
9	23	32	9	1.28	0.51	40
10	23	29	6	1.02	0.39	38
11	50	55	5	1.06	0.37	35
27	95	101	6	1.94	0.61	33
28	98	108	10	2.08	0.69	33
32	81	90	9	1.56	0.62	39
38	51	56	5	1.10	0.36	33
48	75	81	6	1.01	0.36	36
49	71	78	7	1.06	0.33	31
50	55	62	7	1.13	0.53	47

Table 1 – Yangibana Project – Auer North Prospect best drill intersections

Figure 1 shows the locations of the holes drilled at Auer in relation to the magnetic data derived from the recent aerial survey. This figure shows the excellent correlation of drillhole intersections within areas of high magnetic intensity, as identified from the geophysical data.

Drillhole data is provided in Appendix 1 and further details on assays of the relevant intervals are provided in Appendix 2.

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Figure 1 – Yangibana Project – Auer North drillholes on magnetics base

The Auer North mineralisation remains open at depth and to the north. Further drilling is warranted to the north, at depth beneath the three mineralised zones, and in the gaps between the three mineralised zones.

The (Nd2O3+Pr2O3)/TREO ratio of the Auer North intersections averages 35%, similar to Auer (37%) and of significant economic importance. Auer North mineralisation is similar to, though of a slightly lower ratio, to the Eastern Belt deposits (Bald Hill 42% and Fraser’s 44%) and much higher than the Western Belt deposits (22‐29% between Yangibana West to Kane’s Gossan) as shown in Table 3.

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Deposit/Prospect Mean
(Nd2O3+Pr2O3/TREO)
%
Eastern Belt
Fraser’s 44
Bald Hill 42
Auer 37
Auer North 35
Western Belt
Yangibana West/North 27
Gossan 25
Lion’s Ear 26
Hook 22
Kane’s Gossan 29
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Table 3 – Yangibana Project – comparison of (Nd2O3+Pr2O3)/TREO ratios for the various deposits/prospects

At Bald Hill South, an isolated exploration hole drilled 100m to the west of the current JORC Indicated Resources returned a highly encouraging intersection of 6m (82‐88m) at 1.47%TREO including 0.51%Nd2O3+Pr2O3. The Company is currently drilling four hydrology holes in this western extension area and further encouraging intersections of mineralisation will warrant a programme of infill drilling in this area.

CONCLUSIONS

The successful resource expansion drilling programme at Fraser’s Southwest will increase the resource base for the Yangibana Project, specifically adding to the Eastern Belt resource inventory where the mineralisation is enriched in the target elements neodymium and praseodymium. The Company holds a 100% interest in the Eastern Belt resources.

Auer North mineralisation is similar to, and expected to be metallurgically‐compatible with the Eastern Belt mineralisation which is intended to be the first feed material to the proposed processing plant. This will extend the life and economic value of the higher‐value Eastern Belt mineralisation.

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TERMINOLOGY USED IN THIS REPORT

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).

For further information please contact:

Andy Border, General Manager Exploration, +61 2 8268 8689 Charles Tan, Chief Operations Officer, +61 457 853 839

About Hastings Technology Metals

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

• The Yangibana Project hosts JORC Indicated and Inferred Resources totalling 12.36 million tonnes at 1.10% TREO, including 0.35% Nd2O3+Pr2O3, comprising 8.13 million tonnes at 1.11% TREO Indicated Resources and 4.24 million tonnes at 1.09% TREO in Inferred Resources).

• The Brockman deposit contains JORC Indicated and Inferred Resources totalling 41.4 million tonnes (comprising 32.3mt Indicated Resources and 9.1mt Inferred Resources) at 0.21% TREO, including 0.18% HREO, plus 0.36% Nb₂O₅ and 0.90% ZrO₂.

• 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 Company aims to capitalise on the strong demand for critical rare earths created by expanding new technologies.

Competent Persons’ Statement

The information in this announcement 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 announcement 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 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”). Each consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

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Appendix 1 – Collar data

Hole_ID	Easting	Northing	RL	Dip	Azi Mag	EOH(m)
ANRC001	424850	7350459	316	‐60	105	66
ANRC002	424863	7350510	317	‐60	100	90
ANRC003	424885	7350559	318	‐60	100	90
ANRC004	424904	7350604	318	‐60	100	81
ANRC005	424922	7350658	319	‐60	100	78
ANRC006	424893	7350663	319	‐60	100	54
ANRC007	424948	7350710	319	‐60	100	84
ANRC008	424924	7350714	319	‐60	100	72
ANRC009	424974	7350757	319	‐60	100	78
ANRC010	424994	7350799	319	‐60	100	72
ANRC011	425009	7350841	319	‐60	100	66
ANRC012	424993	7350913	319	‐60	90	54
ANRC013	425038	7350947	320	‐60	90	54
ANRC014	425050	7350979	320	‐60	110	54
ANRC015	425072	7351022	320	‐60	110	54
ANRC016	425100	7351068	320	‐60	110	60
ANRC017	425121	7351115	320	‐60	110	60
ANRC018	425120	7351171	320	‐60	90	65
ANRC019	425127	7351210	320	‐60	80	60
ANRC020	425124	7351255	319	‐60	80	60
ANRC021	425107	7351255	319	‐60	80	78
ANRC022	425118	7351299	319	‐60	80	66
ANRC023	425097	7351298	319	‐60	80	90
ANRC024	425109	7351353	318	‐60	80	54
ANRC025	425093	7351350	319	‐60	80	102
ANRC026	425005	7350968	320	‐60	115	96
ANRC027	424957	7350813	319	‐60	100	108
ANRC028	424940	7350782	319	‐60	100	114
ANRC029	424976	7350862	319	‐60	100	114
ANRC030	425005	7350968	320	‐60	90	108
ANRC031	424986	7350916	319	‐60	90	139
ANRC032	424913	7350732	319	‐60	100	96
ANRC033	424889	7350666	319	‐60	90	84
ANRC034	425152	7351391	318	‐60	90	30
ANRC035	425129	7351394	318	‐60	90	66
ANRC036	425171	7351438	318	‐60	90	54
ANRC037	425183	7351488	319	‐60	90	48
ANRC038	425158	7351489	319	‐60	90	60
ANRC039	425239	7351674	320	‐60	90	18
ANRC040	425227	7351674	320	‐75	90	48
ANRC041	425250	7351725	320	‐75	90	60
ANRC042	425238	7351725	320	‐75	90	78
ANRC043	425262	7351767	320	‐60	90	54
ANRC044	425280	7351825	319	‐60	90	60
ANRC045	425288	7351873	319	‐60	90	54
ANRC046	425277	7351874	320	‐75	90	80
ANRC047	425220	7351618	319	‐60	90	72
ANRC048	424988	7350828	319	‐60	90	90
ANRC049	424971	7350794	319	‐60	90	84
ANRC050	424938	7350736	319	‐60	90	84

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Appendix 2 – Significant Assay results Auer North

	From
Hole_ID	(m)	To(m)	%TREO	%Nd2O3+Pr2O3
ANRC005	14	15	0.38	0.12
ANRC005	15	16	1.15	0.37
ANRC005	16	17	0.60	0.19
ANRC007	15	16	0.05	0.01
ANRC007	19	20	0.57	0.27
ANRC007	20	21	0.68	0.33
ANRC007	21	22	1.04	0.39
ANRC007	22	23	1.12	0.43
ANRC007	23	24	1.70	0.60
ANRC007	24	25	1.75	0.60
ANRC007	25	26	3.09	0.95
ANRC007	26	27	0.19	0.06
ANRC008	49	50	1.61	0.61
ANRC008	50	51	0.41	0.16
ANRC008	51	52	0.47	0.19
ANRC008	52	53	0.87	0.38
ANRC008	53	54	1.33	0.52
ANRC008	54	55	1.05	0.41
ANRC008	55	56	2.54	0.85
ANRC008	56	57	2.22	0.66
ANRC008	57	58	1.22	0.37
ANRC008	58	59	0.07	0.02
ANRC009	22	23	0.05	0.01
ANRC009	23	24	1.85	0.64
ANRC009	24	25	2.84	1.26
ANRC009	25	26	2.24	1.08
ANRC009	26	27	1.37	0.56
ANRC009	27	28	0.67	0.24
ANRC009	28	29	0.34	0.11
ANRC009	29	30	0.15	0.05
ANRC009	30	31	0.65	0.19
ANRC009	31	32	1.45	0.43
ANRC009	32	33	0.15	0.05
ANRC010	22	23	0.11	0.04
ANRC010	23	24	0.58	0.21
ANRC010	24	25	1.16	0.44
ANRC010	25	26	2.08	0.89
ANRC010	26	27	0.96	0.40
ANRC010	27	28	0.32	0.11
ANRC010	28	29	1.00	0.30

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	From
Hole_ID	(m)	To(m)	%TREO	%Nd2O3+Pr2O3
ANRC010	29	30	0.25	0.08
ANRC011	49	50	0.07	0.02
ANRC011	50	51	0.64	0.21
ANRC011	51	52	1.58	0.52
ANRC011	52	53	0.79	0.29
ANRC011	53	54	1.29	0.49
ANRC011	54	55	0.99	0.32
ANRC012	28	29	0.22	0.08
ANRC012	29	30	2.42	0.80
ANRC012	30	31	1.06	0.37
ANRC012	31	32	0.37	0.13
ANRC012	34	35	0.04	0.01
ANRC012	35	36	0.85	0.29
ANRC012	36	37	0.79	0.25
ANRC012	37	38	0.85	0.27
ANRC012	38	39	0.40	0.13
ANRC015	28	29	0.13	0.03
ANRC015	29	30	0.65	0.30
ANRC015	30	31	0.60	0.30
ANRC015	31	32	0.23	0.11
ANRC021	58	59	0.41	0.18
ANRC021	59	60	0.58	0.26
ANRC021	60	61	0.27	0.11
ANRC022	44	45	0.10	0.03
ANRC022	45	46	1.52	0.51
ANRC022	46	47	0.09	0.02
ANRC022	47	48	0.90	0.29
ANRC022	48	49	0.29	0.09
ANRC023	79	80	0.56	0.16
ANRC023	80	81	0.98	0.27
ANRC023	81	82	0.93	0.25
ANRC023	82	83	0.89	0.24
ANRC023	83	84	0.48	0.13
ANRC027	94	95	0.20	0.07
ANRC027	95	96	2.19	0.57
ANRC027	96	97	1.35	0.38
ANRC027	97	98	1.74	0.75
ANRC027	98	99	0.67	0.24
ANRC027	99	100	2.30	0.81
ANRC027	100	101	3.40	1.05
ANRC027	101	102	0.53	0.16
ANRC028	97	98	0.31	0.09

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	From
Hole_ID	(m)	To(m)	%TREO	%Nd2O3+Pr2O3
ANRC028	98	99	1.32	0.39
ANRC028	99	100	5.36	1.92
ANRC028	100	101	2.30	0.94
ANRC028	101	102	1.37	0.49
ANRC028	102	103	3.61	1.08
ANRC028	103	104	1.93	0.56
ANRC028	104	105	2.04	0.61
ANRC028	105	106	1.29	0.42
ANRC028	106	107	0.89	0.28
ANRC028	107	108	0.71	0.24
ANRC028	108	109	0.34	0.12
ANRC029	103	104	0.08	0.03
ANRC029	104	105	1.67	0.47
ANRC029	105	106	0.73	0.22
ANRC029	106	107	0.41	0.17
ANRC029	107	108	0.81	0.36
ANRC029	108	109	0.21	0.08
ANRC032	80	81	0.37	0.12
ANRC032	81	82	0.89	0.37
ANRC032	82	83	1.62	0.79
ANRC032	83	84	2.04	0.95
ANRC032	84	85	1.70	0.75
ANRC032	85	86	1.68	0.61
ANRC032	86	87	3.27	1.07
ANRC032	87	88	1.11	0.35
ANRC032	88	89	1.15	0.44
ANRC032	89	90	0.61	0.22
ANRC032	90	91	0.49	0.18
ANRC033	72	73	0.52	0.17
ANRC033	73	74	1.06	0.32
ANRC033	74	75	1.29	0.38
ANRC033	75	76	0.57	0.17
ANRC034	17	18	0.10	0.01
ANRC034	18	19	0.99	0.21
ANRC034	19	20	0.98	0.25
ANRC034	20	21	0.72	0.19
ANRC034	21	22	0.52	0.12
ANRC035	53	54	0.29	0.08
ANRC035	54	55	0.82	0.24
ANRC035	55	56	0.60	0.18
ANRC038	50	51	0.04	0.01
ANRC038	51	52	0.71	0.22

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	From
Hole_ID	(m)	To(m)	%TREO	%Nd2O3+Pr2O3
ANRC038	52	53	1.27	0.40
ANRC038	53	54	1.51	0.49
ANRC038	54	55	1.29	0.43
ANRC038	55	56	0.73	0.25
ANRC038	56	57	0.31	0.11
ANRC039	9	10	0.47	0.14
ANRC039	10	11	0.99	0.29
ANRC039	11	12	0.30	0.09
ANRC040	32	33	0.04	0.01
ANRC040	33	34	0.51	0.19
ANRC040	34	35	0.17	0.06
ANRC040	35	36	0.36	0.11
ANRC040	36	37	1.03	0.32
ANRC040	37	38	0.61	0.19
ANRC041	41	42	0.04	0.01
ANRC041	42	43	1.08	0.32
ANRC041	43	44	2.58	0.75
ANRC041	44	45	0.63	0.18
ANRC041	49	50	0.62	0.18
ANRC041	50	51	0.76	0.23
ANRC041	51	52	0.32	0.10
ANRC042	62	63	0.05	0.01
ANRC042	63	64	1.17	0.32
ANRC042	64	65	0.99	0.28
ANRC042	65	66	0.48	0.13
ANRC042	66	67	1.80	0.44
ANRC042	67	68	0.31	0.09
ANRC042	70	71	0.21	0.06
ANRC042	71	72	2.00	0.58
ANRC042	72	73	0.45	0.14
ANRC043	39	40	0.04	0.01
ANRC043	40	41	1.24	0.37
ANRC043	41	42	1.05	0.32
ANRC043	42	43	0.13	0.04
ANRC043	46	47	0.07	0.03
ANRC043	47	48	0.95	0.30
ANRC043	48	49	0.13	0.04
ANRC045	40	41	0.39	0.11
ANRC045	41	42	0.76	0.23
ANRC045	42	43	0.16	0.06
ANRC045	43	44	2.56	0.85

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	From
Hole_ID	(m)	To(m)	%TREO	%Nd2O3+Pr2O3
ANRC045	44	45	3.00	0.98
ANRC045	45	46	0.52	0.16
ANRC048	74	75	0.10	0.04
ANRC048	75	76	0.80	0.24
ANRC048	76	77	0.74	0.24
ANRC048	77	78	0.99	0.38
ANRC048	78	79	0.56	0.25
ANRC048	79	80	1.93	0.72
ANRC048	80	81	1.01	0.33
ANRC048	81	82	0.26	0.09
ANRC049	70	71	0.04	0.01
ANRC049	71	72	0.73	0.24
ANRC049	72	73	0.82	0.25
ANRC049	73	74	1.08	0.37
ANRC049	74	75	1.34	0.43
ANRC049	75	76	0.59	0.19
ANRC049	76	77	1.09	0.34
ANRC049	77	78	1.76	0.50
ANRC049	78	79	0.27	0.08
ANRC050	55	56	1.91	0.93
ANRC050	56	57	1.66	0.80
ANRC050	57	58	1.27	0.62
ANRC050	58	59	0.80	0.38
ANRC050	59	60	0.99	0.44
ANRC050	60	61	0.50	0.19
ANRC050	61	62	0.81	0.33
ANRC050	62	63	0.41	0.17

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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 to test
techniques		random chips, or specific specialised industry		a number of targets to the south-west of Fraser’s
		standard measurement tools appropriate to the		prospect that had been identified during earlier
		minerals under investigation, such as down hole		rock chip sampling work and then in the recently
		gamma sondes, or handheld XRF instruments,		interpreted aeromagnetic and radiometric data.
		etc). These examples should not be taken as		Drill chip samples are collected from one-metre
		limiting the broad meaning of sampling.		intervals from which a 2-4kg sample was collected
		Include reference to measures taken to ensure		for submission to the laboratory for analysis for
		sample representivity and the appropriate		rare earths, rare metals, U, Th and a range of
		calibration of any measurement tools or systems		rock-forming elements. The main aim of this
		used.		programme is to provide material for a bulk
		Aspects of the determination of mineralisation		composite for pilot plant test work. Mineralised
		that are Material to the Public Report.		zones were identified visually during geological
		In cases where ‘industry standard’ work has		logging in the field.
		been done this would be relatively simple (eg		Samples from each metre were collected in a
		‘reverse circulation drilling was used to obtain 1		cyclone and split using a 3 level riffle splitter.
		m samples from which 3 kg was pulverised to		Field duplicates, blanks and Reference Standards
		produce a 30 g charge for fire assay’). In other		were inserted at a rate of approximately 1 in 20.
		cases more explanation may be required, such		No previous drilling has been carried out in this
		as where there is coarse gold that has inherent		area.
		sampling problems. Unusual commodities or
		mineralisation types (eg submarine nodules)
		may warrant disclosure of detailed information.
Drilling		Drill type (eg core, reverse circulation, open-hole		Reverse Circulation drilling at the various targets
techniques		hammer, rotary air blast, auger, Bangka, sonic,		utilised 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-
		sampling bit or other type, whether core is
		_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 data is available at present to
				determine if a relationship exists between
				recovery and grade.
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 isqualitative orquantitative in		given the nature of reverse circulation drill chips.

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
		nature. Core (or costean, channel, etc)		All RC drill holes in the current programme are
		photography.		logged in full.
		The total length and percentage of the relevant
		intersections logged.
Sub-		If core, whether cut or sawn and whether		The RC drilling rig is equipped with an in-built
sampling		quarter, half or all core taken.		cyclone and triple tier riffle splitting system, which
techniques and sample preparation	 	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and		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
		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 samples the cleanliness 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 from 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.
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: FP6/MS
		make and model, reading times, calibrations		Blind field duplicates were collected at a rate of
		factors applied and their derivation, etc.		approximately 1 duplicate for every 20 samples
		Nature of quality control procedures adopted (eg		that are to be submitted to Genalysis for
		standards, blanks, duplicates, external		laboratory analysis. Field duplicates were split
		laboratory checks) and whether acceptable		directly from the splitter as drilling proceeded at
		levels of accuracy (ie lack of bias) and precision		the request of the supervising geologist.
		have been established.
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.
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

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Criteria JORC Code explanation	Commentary
used in Mineral Resource estimation.  Specification of the grid system used.  Quality and adequacy of topographic control.	site of the collar for a period of 5 minutes to obtain a steady reading. Collar locations are considered 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 based on the detailed 1m topographic survey undertaken by Hyvista Corporation in 2016.
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.	 Hole collars were initially laid out at 50m along the strike of the outcropping mineralisation and the trace of the aeromagnetic/radiometric anomaly. Collar locations were varied slightly dependent on access at a given site and some holes were not drilled based on geological considerations.  Further details are provided 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 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 current programme are at - 60o(subject to access to the preferred collar position) and as such intersected widths do not represent true thickness.
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.	 No audit of sampling data has been completed to date but a review will be conducted once all data

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Criteria JORC Code explanation	Commentary
	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.

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 the targets to the south-west of
tenement and		ownership including agreements or material		Fraser’s that are reported in this document was
land tenure		issues with third parties such as joint ventures,		carried out within E09/1989 and E09/1700.
status		partnerships, overriding royalties, native title		All Yangibana tenements are in good standing
		interests, historical sites, wilderness or national		and no known impediments exist.
		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.
Exploration		Acknowledgment and appraisal of exploration		No previous exploration has been carried in this
done by other		by other parties.		portion of the project area.
parties
Geology		Deposit type, geological setting and style of		The Yangibana ironstones within the Yangibana
		mineralisation.		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		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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	Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
	Data		In reporting Exploration Results, weighting		All intervals reported are composed of 1m
	aggregation		averaging techniques, maximum and/or		downhole intervals and as such are length
	methods		minimum grade truncations (eg cutting of high		weighted. A lower cut-off grade of
			grades) and cut-off grades are usually Material		0.20%Nd2O3+Pr2O3has been used for assessing
			and should be stated.		significant intercepts, and no upper cut-off grade
			Where aggregate intercepts incorporate short		was applied.
			lengths of high grade results and longer lengths		Maximum internal dilution of 1m was incorporated
			of low grade results, the procedure used for		in reported significant intercepts.
			such aggregation should be stated and some		The basis for the metal equivalents used for
			typical examples of such aggregations should		reporting are provided in the body of the ASX
			be shown in detail.		announcement.
			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 downhole lengths
	mineralisation widths and intercept lengths	 	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		have been reported. It is expected that true widths will be less than downhole widths, due to the apparent dip of the mineralisation.
			lengths are reported, there should be a clear
			statement to this effect (eg ‘down hole length,
			_true width not known’). _
	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		Geological mapping has continued in the vicinity
	substantive		material, should be reported including (but not		of the drilling as the programme proceeds.
	exploration		limited to): geological observations; geophysical
	data		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.
	Further work		The nature and scale of planned further work		The current drilling programme is primarily
			(eg tests for lateral extensions, depth		designed to test for new resources within short
			extensions or large-scale step-out drilling).		trucking distances from the proposed plant site.
			Diagrams clearly highlighting the areas of
			possible extensions, including the main
			geological interpretations and future drilling
			areas, provided this information is not
			commercially sensitive.

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