HAWK RESOURCES LIMITED. — Capital/Financing Update 2017

Jun 8, 2017

Alderan lists on ASX following a heavily oversubscribed IPO

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Highlights

• Successful ASX listing following Alderan’s $8.5m Initial Public Offer (“IPO”)

• IPO heavily oversubscribed with strong institutional backing

• • Geophysical exploration and drilling set to commence to establish resources and unlock the world class potential of the Frisco Project

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The Board of Alderan Resources Limited (“Alderan”) is pleased to announce the listing of the Company on the ASX following a successful IPO that raised $8.5m before costs. The IPO was led by BW Equities and received strong support from existing and new investors including several institutional investors resulting in the offer being heavily oversubscribed.

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Funds raised in the IPO will be used to commence an aggressive exploration program at the Frisco Project, located in Utah, United States of America. The Frisco project is considered by the Company to be a single, connected and preserved porphyry mineral system with large associated copper-gold-silver breccia pipes and copper-zinc/lead-silverzinc skarns.

Despite a long history of mining at Frisco with widespread mining activity and mineralisation outcropping on surface, fragmented ownership of mining claims inhibited project wide exploration in the past. The exploration program started by Alderan in 2016 and set to accelerate post listing, represents the first time that any entity has commenced a project scale exploration program utilising modern exploration methods and knowledge of porphyry systems over the entire Frisco project.

Similar to other large porphyry systems such as Bingham Canyon (Utah, USA) and Cananea (Mexico), the Frisco system is believed to have strong potential for multiple economic deposits in the adjoining skarns, breccia pipes and the underlying porphyry.

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www.alderanresources.com.au

info@alderanresources.com.au

The Company is expecting shortly to commence an aggressive exploration program aimed at establishing initial JORC-compliant resources at the Cactus Breccia Pipes prospect and to test the significant potential of the Frisco project.

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Figure 1 Frisco Project location map

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Figure 2 Frisco Project - prospect and deposit location map ([1] ASVI Section 4262600N)

About the Frisco Project

Porphyry copper deposits account for the majority of the world’s copper production and are often large, world class, long life mines. These intrusive systems often result in the emplacement of several associated deposit types including skarns, breccia pipes, mantos and epithermal gold deposits.

Work undertaken by Alderan has confirmed the presence of a large porphyry system at the heart of the Frisco Project which has been named the Cactus Canyon prospect. This is supported by extensive porphyry style alteration, outcropping copper bearing porphyry intrusions with at least 5 individual intrusive phases mapped to date, which over lay a large, up to 2km diameter, distinct magnetic anomaly. The presence of regional scale geochemical zonation across at least 6km by 4km, typical of large porphyry systems, and large porphyry related copper-gold-silver bearing breccia pipes and mineralised skarns adjacent to the Cactus Canyon project, lend further weight to the prospectivity and potential mineral endowment of the system.

The project is host to three existing deposits/prospects which have had significant historical mining activity. These are:

• the Cactus copper-gold-silver mine and breccia pipe deposit, one of several mineralised breccia pipes over an area of approximately 1000 metres by up to 400 metres wide adjoining and adjacent to the Cactus Canyon porphyry prospect. Historical drilling has confirmed that extensive unmined mineralisation remains within the pipe. Modelling of magnetic survey data also demonstrates that these pipes are likely connected at depth;

• the large Accrington copper-zinc-silver-gold skarn, which hosts extensive mineralised outcrop and historical mining activity across a central area of 1.8 kilometres by 1.2 kilometres; and

• the Horn zinc deposit, a historic lead-silver mine, which contains significant amounts of unmined high-grade zinc, confirmed through historical drilling and channel sampling.

The Company is planning to commence a project scale induced polarisation survey and electromagnetic survey over the Accrington skarn commencing in mid-June. A 10,000 metre drilling program with a particular focus on the Cactus and Accrington prospects is anticipated to start in late July.

The Frisco project covers 231 patented claims and 178 unpatented claims over which Alderan holds 100% of the mineral rights governed through lease agreements with the private (patented claim) landowner, Horn Silver Mines Inc. Alderan is required to pay increasing annual lease payments to the landowner. Horn Silver Mines Inc retains a net smelter royalty on production. Alderan holds options to reduce the 3% royalty to 1% and to purchase the land.

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Figure 3 Target Summary Map. Upper image: Cross section along N300100 showing results of magnetic inversion (red colors: high magnetic response. Green and yellow colors: low magnetic response). Lower image: geologic interpretation.

About Utah

Utah is considered one of the best jurisdictions for mining and exploration in the United States and the World, being regularly ranked in the top 10-15 countries in the annual survey of mining companies by the Fraser Institute. The State has a long and continuing history of mining highlighted by the world class Bingham Mine (porphyry coppermolybdenum-gold), owned by Rio Tinto.

The Frisco Project is located in Beaver County and lies adjacent to sealed roads and within 20-30 km of rail, solar and geothermal power plants and existing mining facilities.

---ENDS---

Please direct enquiries to:

Christopher Wanless Chief Executive Officer

chris@alderanresources.com.au

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Stay Connected

Interested investors and shareholders are encouraged to subscribe to the Company’s social media channels using the links below:

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Competent Persons Statement

The information in this presentation that relates to exploration targets, exploration results, mineral resources or ore reserves is based on information compiled by Peter Geerdts, a competent person who is a member of the Australian Institute of Geoscientists (AIG). Peter Geerdts is the Chief Geologist of Alderan Resources Limited. Peter 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). Peter Geerdts consents to the inclusion of this information in the form and context in which it appears.

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