HAWK RESOURCES LIMITED. — Capital/Financing Update 2021

Aug 1, 2021

ASX ANNOUNCEMENT 2 August 2021

Alderan to raise $5 million in a strongly supported Placement to drill copper-gold targets at Detroit Project

HIGHLIGHTS

• Alderan receives firm commitments for a two-tranche Placement to raise a total of $5 million at $0.04 per share, with strong demand from existing and new investors.

• Alderan Directors subscribe for an additional $105,000 worth of shares, subject to shareholder approval.

• Alderan will use funds towards a diamond drilling program at the Company’s Detroit Project in Utah, USA, expected to commence in September 2021.

• Recent exploration at Detroit has highlighted high priority copper-molybdenum and gold prospects.

• Shareholder meeting to approve the second tranche of the Placement and Director participation expected to be held in September 2021.

• Canaccord Genuity (Australia) Limited acted as Sole Lead Manager to the Placement.

Alderan Resources Limited (ASX: AL8) ( Alderan or the Company ) is pleased to announce it has received firm commitments to raise $5 million (before costs) through the issue of approximately 125 million new shares ( Shares ) to institutional, sophisticated and professional investors at a price of $0.04 per Share ( Placement ). The Placement will settle in two tranches, with Tranche 1 to be issued under the Company’s existing placement capacity under ASX Listing Rule 7.1. Tranche 2 will be subject to shareholder approval, expected to be sought in September 2021.

In addition, Alderan Directors will participate in the Placement for an additional $105,000 (approximately 2.63 million Shares). Director participation will be subject to shareholder approval.

Alderan will use funds from the Placement towards exploration at the Company’s copper-gold projects in Utah, USA, specifically a diamond drilling program at the Detroit project, and for working capital purposes.

Alderan Managing Director Scott Caithness said , “Our recent activities at Detroit including induced polarisation geophysical surveying and petrography continues to highlight the prospectivity of the project and we are looking forward to commencing a diamond drilling program there next month with the support of new and existing shareholders who participated in this Placement.”

Placement Details

The Placement price of $0.04 represents a 14.9% discount to the $0.047 closing price of the Company’s shares prior to entering into a trading halt on 29 July 2021. Tranche 1 will raise approximately $1.76 million pursuant to the Company’s existing placement capacity under ASX Listing Rule 7.1 (44,116,163 Shares) and Tranche 2 will raise approximately $3.24 million, subject to shareholder approval (80,883,825 Shares). All Shares, once issued, will rank equally with existing shares on issue.

The Company’s existing shares are expected to resume trading on the ASX from market open today, 2 August 2021. The Tranche 1 Shares are expected to settle on Thursday, 5 August 2021 and will be issued and commence trading on the ASX on a normal basis on Friday, 6 August 2021.

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ASX ANNOUNCEMENT 2 August 2021

Canaccord Genuity (Australia) Limited acted as Sole Lead Manager to the Placement and will be issued a total of 20 million unquoted options, 10 million exercisable at $0.11 and 10 million exercisable at $0.15, expiring 3 years from date of issue. The issue of these unquoted options will be subject to shareholder approval.

The Company is in the process of preparing a Notice of Meeting to seek the necessary shareholder approvals, with a meeting expected to be convened in September 2021. Appendix 3B’s for the proposed issues of the Placement securities will follow this announcement.

ENDS

This announcement was authorised for release by the Board of Alderan Resources Limited.

ALDERAN RESOURCES LIMITED ABN: 55 165 079 201 Suite 23, 513 Hay Street, Subiaco, 6008, WA www.alderanresources.com.au

For further information: e: info@alderanresources.com.au

p: +61 8 6143 6711 Scott Caithness Managing Director scott@alderanresources.com.au

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