HAWK RESOURCES LIMITED. — AGM Information 2017

Nov 27, 2017

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Presentation November 28 2017 Annual General Meeting

AGM PRESENTATION NOVEMBER 2017

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Disclaimer and Important Notice

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Disclaimer

The information in this presentation is published to inform you about Alderan Resources Limited and its activities. Some statements in this presentation regarding estimates or future events are forward looking statements. They involve risk and uncertainties that could cause actual results to differ from estimated results. All reasonable effort has been made to provide accurate information, but we do not warrant or represent its accuracy and we reserve the right to make changes to it at any time without notice. To the extent permitted by law, Alderan Resources Limited accepts no responsibility or liability for any losses or damages of any kind arising out of the use of any information contained in this presentation. Recipients should make their own enquiries in relation to any investment decisions.

Summary of information: This presentation contains general and background information about Alderan Resources’ activities current as at the date of the presentation and should not be considered to be comprehensive or to comprise all the information that an investor should consider when making an investment decision. The information is provided in summary form, has not been independently verified, and should not be considered to be comprehensive or complete. Alderan Resources is not responsible for providing updated information and assumes no responsibility to do so.

Competent Persons Statement

The information in this presentation that relates to exploration targets or exploration results is based on information compiled by Peter Geerdts, a competent person who is a member of the Australian Institute of Geoscientists (AIG). Mr Geerdts is the Chief Geologist of Alderan Resources Limited. Mr Geerdts has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the JORC Code (JORC Code). Mr Geerdts consents to the inclusion of this information in the form and context in which it appears.

The information in this presentation that relates to exploration results and historical exploration results is extracted from the Company’s Prospectus dated 5 April 2017 and the ASX announcements titled “Extensive copper in historical sampling at Cactus” dated 21 August 2017; “High Impact exploration program commences at Frisco”, dated 28 June 2017; “Alderan expands Frisoo Project” dated 19 July 2017 and “Drilling confirms wide intervals of copper at Cactus”, dated 10 October 2017. JORC disclosures including JORC Table 1 relating to geophysical exploration results detailed in this presentation are provided in previously released ASX announcement on 12 September 2017 titled “IP survey significantly upgrades porphyry copper potential”

These announcements are available to view on the Company website

http://alderanresources.com.au/index.php/category/asx-annoucements/.

The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

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Corporate Structure

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1.2 $2.50
1
$2.00
0.8
$1.50
0.6
$1.00
0.4
$0.50
0.2
0 $0.00
Millions
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Summary	Summary
IPO price (June 9, 2017)	$0.20
Share price (Nov 27, 2017)	$1.915
Shares on issue	107,963,908
Options	18,057,454
Shares held by Directors & Management	~50%
Top 20 shareholders	~80%

Board & Management	Board & Management
Nicolaus Heinen	Chairman
Christopher Wanless	Executive Director & CEO
Bruno Hegner	Executive Director & Vice President (U.S.)
Tom Eadie	Non-Executive Director
Brian Kay	Exploration Manager
Peter Geerdts	Chief Geologist
Brett Tucker	Company Secretary

AGM PRESENTATION NOVEMBER 2017

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Board of Directors & Senior Management

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NICOLAUS CHRISTOPHER BRETT TUCKER TOM EADIE BRUNO PETER BRIAN HEINEN WANLESS COMPANY NONHEGNER GEERDTS KAY CHAIRMAN MANAGING SECRETARY EXECUTIVE VP OF CHIEF EXPLORATION DIRECTOR DIRECTOR OPERATIONS GEOLOGIST MANAGER & CEO (US) Founder of Founder of Brett is a Geologist, 25 years Founder of 17 years Alderan Alderan chartered geophysicist and experience as a Alderan experience in Resources, Resources Ltd accountant and founding corporate Resources. grassroots Belgrave Capital and General has acted as chairman of manager. Geologist with exploration, Limited and Mining Company Syrah Managing global project Universal Copper Corporation. Secretary to a Resources, Director of experience development LLC. number of ASX Copper Strike, Major Copper across green and mining Over 10 years Investor and experience in the Listed and Discovery Nickel Projects, Rio and operations in entrepreneur resources sector private and founding Tinto. Vicebrownfields North America, companies. Director of President of projects South American with 25 years as a Manager, Royalco Resolution including and Australia. experience in Investor and Resources. Copper porphyry Superintendent corporate Director. finance and Degrees in Law Previously EGM Company copper-gold. of Exploration at Manager of North Parkes. capital markets and Economics. Exploration & with Oppenheim Technology, jr. & CIE Pasminco Limited.

AGM PRESENTATION NOVEMBER 2017

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Cactus Mine & Cactus Corridor

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Cactus Mine – Glory hole (pit)
Cactus Copper-Gold-Silver Breccia Pipe
Deposit(s)
Cactus Canyon
Copper-Molybdenum -
Gold
Accrington Copper-
Zinc-Silver-Gold Skarn
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Cactus – Drilling Objectives

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Colburn
New Year Mine
Belmont Mine
Comet Mine
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▪ Confirm the extent of mineralisation remaining within the mine ▪ Test the continuity of mineralisation from Comet to New Years mines ▪ Establish the grade and precious metal content of mineralisation ▪ Establish an initial resource within the Cactus Corridor ▪ Obtain further information on the style(s) of mineralisation present

▪ Identify vectors to underlying/proximal porphyry copper target

Location map showing permitted drill pad locations with respect to historical workings and mines. Historical mining at Cactus was restricted to within the Cactus Claim due to third parties owning adjacent claims. Alderan holds the mineral rights over all adjacent claims.

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Historical mining and drilling at Cactus

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Colburn
New Year Mine
Belmont Mine
ALCA003
ALCA001
ALCA002
ALCA005
Comet Mine
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• Historical drilling predominantly shallow vertical holes

• Mining restricted to within the Cactus Claim boundary

• Mining intruded into neighbouring claims leading to legal action and the cessation of major mining activities in 1915

• Extensive digitisation of historical workings and drilling by Alderan

• Substantial mineralisation within mine workings

• Only shallow drilling along strike

Location map showing historical drillholes with respect to historical workings and current drillholes. Channel sampling results for the 500 foot level (shown above), are shown on the next page.

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Cactus Mine: high grade mineralisation up to claim boundary (700 foot level)

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Underground channel
sampling (1968-9)
Claim boundary
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Limited deeper holes indicate substantial thicknesses with the orebody dipping to the east

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Pit
Pit
Pit
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Cactus Mine plan view at surface with historical drillholes (left) and oblique schematic cross-section (right) with DDH5 (74m @ 0.61%) and DDH6 (130.45m @ 0.76% Cu)

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Majority of historical drill holes were vertical and less than 100m deep

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Cactus Pit Area

Mine workings continued to over 250m depth

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ALCA001 to ALCA003 – testing mineralisation adjacent to and below historical workings

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• ALCA001 targeted mineralisation around upper levels of historical workings between stopes, however, the hole intersected stopes. Highgrade copper mineralisation was intersected between stopes (5-10% chalcopyrite)

• ALCA002 intersected thick intervals of visible copper mineralisation (1-3% chalcopyrite) from 148m to 236 with drilling continuing in mineralisation as of 30 October (final results yet to be announced)

• ALCA003 drilled beneath and adjacent to deepest workings (results yet to be announced)

• First assays are expected in early December

Right: Cross section showing the location of ALCA001 and ALCA002 with respect to historical workings

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ALCA001 to ALCA003 – testing mineralisation around and below historical workings

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Hole ALCA001 (99.8m) showing quartz-tourmaline-pyrite chalcopyrite breccia with estimated chalcopyrite abundance of 5-10% and pyrite abundance of 5-10%).

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Drillcore intercept from ALCA002 (227.69m to 228.19m) showing chalcopyrite/pyrite mineralisation within a chlorite altered quartz-tourmaline breccia zone in a wider zone of weakly potassic altered monzonite.

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ALCA004 – first step out hole beyond historical workings

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ALCA003
ALCA001
ALCA002
ALCA004
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Drill testing towards depth and along strike

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• Drilling to date has shown a porphyry related early potassic alteration event overprinted by breccia-type mineralisation

• Weak but consistent copper veining (C-type veins) within sericite-chlorite overprinted alteration was noted at depth within the recent drilling, consistent with an outer copper shell around a mineralised porphyry intrusive

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Top of mineralised
intercept
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Historical underground
drilling
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Accrington – extensive, thick, outcropping Cu-Zn skarn

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Cactus Copper-Gold-
Silver Breccia Pipe
Deposit
Cactus Canyon Copper-
Molybdenum-Gold
Porphyry Prospect
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Cactus Mine – Glory hole (pit)
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Outcropping copper-zinc bearing garnet skarn at Accrington EastKing David Shaft – Horn Silver Mine
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Accrington Copper-Zinc-Silver-Gold Skarn

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Accrington: 2018 drilling

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• Planned for drill testing in CY2018 at Imperial-Accrington East claims

• Targeting the “Upper-” and “Lower Garnet” mineralised Cu-Zn skarns which have a combined stratigraphic thickness of approximately 150m

• Historical drilling within the Imperial claims targeted the Upper Garnet Skarn and show results including 36.58m @ 1.23% Cu (from start to end of hole), 26.82m @ 1.40% (from start to end of hole)[!]

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Conceptual drillholes
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Porphyry Cu-Mo-Au
targeting
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An emerging porphyry center – shallow IP

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Near surface high
Cactus Cu-Au-Ag Mine
chargeability target
Cactus Canyon
•
extensive phylic alteration
•
large circular magnetic
anomaly
• Chargeability anomaly Perseverance Prospect
• 1.5-2km diameter circular
over resistive intrusive?
IP anomaly
Accrington skarn
• thick outcropping Cu-Zn Horn Mine
skarns • historic high grade lead-
• extensive mineralisation silver mine
•
and historical workings Est. 900kt @ 600 g/t Ag,
across 1.8km by 1.2km 30% Pb mined
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Perseverance Porphyry Target

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Perseverance
Prospect
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• Large 1.5km to 2km diameter chargeability anomaly with increasing chargeability towards the centre (up to 120 mv/v)

• Coincident with a central resistivity anomaly

• Located 200-300m north of the Imperial claims (Accrington skarn prospect)

• Potential causative intrusion for Accrington and Cactus

• Awaiting further processing and interpretation of 3D IP data

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A B C
Imperial
Cactus Structural Accrington E
Corridor
Cactus
mine
20 mV 30 mV 40 mV 60 mV 80 mV100 mV 120 mV
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Preliminary results of LPL2 inversion showing modelled chargeability shells within the Frisco Project.

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Porphyry Cu systems: current Frisco model

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• Up to 8 individual porphyry intrusions mapped (right image) at Cactus of which at least 2-3 are mineralised

• Frisco is a large multi-phase intrusion comprising of multiple porphyry intrusions over time

• Large fertile mineral porphyry systems are often complex (Bingham Canyon – 3 intrusive phases)

Conceptual geological model for the Frisco Project (T. Brehm, 2017)

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Work Program: balancing risk and reward

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• Exploring for a possible world class orebody whilst drilling out significant resources at Cactus and Accrington

• Mineralisation at Cactus and Accrington is related to an underlying porphyry intrusion with drilling set to provide important vectors to the porphyry target

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Risk Reward/Value Reward/Value
Low risk path
Cactus Mine & Concept Exploration Discovery Drillout & Resource Definition Economics to value
Corridor
creation
Low risk path
Accrington Concept Exploration Discovery Drillout & Resource Definition Economics to value
creation
Greatest NPV
Porphyry Concept Exploration Discovery Drillout & Resource Definition Economics
potential
De-risking porphyry
exploration/providing vectors
to discovery?
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Location, Location, Location

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• Located within the heart of the US mining industry in close vicinity to underutilised smelters

• Exceptional infrastructure with roads, railway, power plants within 5-25 km of the Frisco Project

• Deposit parameters are important but so is location which impacts capital costs (infrastructure, Government incentives), fiscal regime (taxes, deductions), marketing, availability of finance and the timeliness and probability of permitting and building a mine

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Garfield copper smelter
(63% utilisation)
Bingham Canyon
Frisco Project
Copper Mine
Miami and Hayden
copper smelters
(75% and 58%
utilisation)
Union Pacific
railroad
Ray, Morenci copper
mines
Baghdad copper
mine
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AGM PRESENTATION NOVEMBER 2017

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A low cost environment in one of the best places to permit and build a mine

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Acquisition costs Taxes Power & Fuel State support Mining services 100% ownership of Stable regime 350 MW power 50% infrastructure Advanced, Utah, mineral rights Alternative stations 25km, tax rebate Nevada, Arizona min. tax (20%) cheap fuel common in mining industry Royalties Private Land Rail/road Smelters Low sovereign risk Skilled 3% NSR to No competing Sealed roads Copper One of the best workforce landholder with land use within 1-4km. smelters mining jurisdictions Advanced, options to Easier permitting Railways within within 3-10 (Utah) and the largest developed reduce to 1% 20km hours by rail economy in the world world economy c or road

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Deficits emerging, supply challenges remain

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• Copper market back into deficit which is expected to widen in coming years[1]

• Electric vehicle (“EV”) market offers potential for significant increased copper demand (1.8mt to 2mt by 2027[1,2] )

• Bullish estimate by BHP of increased demand due to EV market of up to 8.5mt by 2035[3]

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• Copper price up 50% in the last 12 months

• To meet potential future demand of 1.8mt by 2027 copper miners and explorers need to find/develop 20 deposits the size of Prominent Hill (100ktpa Cu)

• New discoveries and future copper expansion to occur in higher risk jurisdictions or at depth

Sources:

1. Deutsche Bank, Copper Market Outlook, Oct 2017.

2. International Copper Association, http://copperalliance.org/wordpress/wpcontent/uploads/2017/06/2017.06-E-Mobility-Factsheet-1.pdf

3. The Bullish Thesis for Copper, http://www.bhp.com/media-andinsights/prospects/2016/10/the-bullish-thesis-for-copper

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High impact activities in a rising market

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• High impact program in 2018 with regular flow of drilling results at Cactus and Accrington

• Full 3D IP results to be received soon

• Demonstrating the scale of orebodies at Cactus and Accrington with significant potential for drilling to lead to additional discoveries

• A rising tide for copper as deficits continue to feed into increasing prices and market interest

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Dec Jan Feb Mar Apr May
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Final IP results

Cactus Drilling (6000m+)

Assay results

Accrington Drilling (4000m)

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Exploration Drilling

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THANKYOU

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WWW.ALDERANRESOURCES.COM.AU

Christopher Wanless – CEO +61 (8) 9482 0560 info@alderanresources.com.au

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