HAWK RESOURCES LIMITED. — Investor Presentation 2018

May 2, 2018

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Sydney Mining Club Presentation 3 May 2018

PRESENTATION MAY 2018

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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 announcement titled “Alderan expands Frisco Project” dated 19 July 2017. JORC disclosures including JORC Table 1 relating to geophysical exploration results detailed in this presentation are provided in previously released ASX announcements on 21 December 2017 titled “Alderan identifies a large porphyry copper prospect at Frisco” and “Alderan identifies significant new copper targets along Cactus Corridor” dated 19 January 2018.

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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Summary	Summary
IPO price (June 9, 2017)	$0.20
Share price (May 3, 2018)	$0.67
Shares on issue	112,963,908
Options	19,257,454
Shares held by Directors & Management	~50%
Top 20 shareholders	~80%

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PRESENTATION MAY 2018

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Board of Directors & Senior Management

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NICOLAUS CHRISTOPHER TOM EADIE BRUNO PETER HEINEN WANLESS NON- HEGNER GEERDTS CHAIRMAN MANAGING EXECUTIVE VP OF CHIEF DIRECTOR DIRECTOR OPERATIONS GEOLOGIST & CEO (US)

Founder of Founder of Geologist, 25 years Founder of Alderan, Belgrave Alderan and geophysicist and experience as a Alderan. Capital Limited General Mining founding corporate Geologist with and Universal Corporation. chairman of manager. global Copper LLC. Syrah Resources, Managing experience Over 10 years Copper Strike, Director of across green Investor and experience in the entrepreneur with resources sector Discovery Nickel Major Copper and brownfields and founding Projects, Rio projects 25 years as a Manager, Director of Tinto. Viceincluding experience in Investor and Royalco President of porphyry corporate finance Director. Degrees Resources. Resolution copper-gold. and capital in Law and markets with Economics. Previously EGM Copper Manager of Company. Oppenheim JR & Exploration & CIE. Technology, Pasminco Limited.

BRETT JOHN TUCKER SCHLODERER COMPANY EXPLORATION SECRETARY MANAGER Brett is a 30 years’ chartered experience with accountant and BHP Billiton, has acted as Goldfields and Company junior companies Secretary to a managing number of ASX exploration Listed and programs and private advanced companies. resource drillouts with a focus on large porphyry copper systems.

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Copper – deficits emerging, supply challenges remain, EV boost

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• Impending copper deficit with tightening supply due to declining grades, resource depletion, lack of exploration success

• The current copper project pipeline has the fewest projects than at any time this century[1]

• Electric vehicle (“EV”) market offers potential for significant increased copper demand over and above normal demand growth (1.8mt to 2mt by 2027[2] )

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Source: Wood Mackenzie/BMO Capital Markets

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Source: Wood Mackenzie/BMO Capital Markets

1. Bank of Montreal, http://www.mining.com/copper-pipeline-the-lowest-in-century-despite-growing-appetite-for-assets/

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

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Location, Location, Location

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

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

• Predominantly on private land in a region earmarked for priority assistance by the mining-friendly Utah Government.

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Garfield copper
smelter
(63% utilisation)
Frisco Copper
Bingham Canyon
Project
Copper Mine
Miami and Hayden
copper smelters
(75% and 58%
utilisation)
Union Pacific railroad
Ray, Morenci copper
mines
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An underexplored igneous belt

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• Three igneous belts known to host porphyry copper systems in Utah, largest is the Pioche-Marysvale Belt

• Exceptionally underexplored

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Frisco – A unique opportunity to uncover a giant

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• A historical mining district with no modern exploration

• Prior exploration restricted by fragmented ownership and lack of available data

• Alderan is the first Company to consolidate mineral rights over the Frisco System

• Final consolidation of rights over Accrington in July 2017

• Renewed interest by Kennecott (Rio Tinto)

• First ever use of modern geophysics led to shift in focus from Cactus Canyon to Accrington and Perseverance

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Project map showing the outline of Alderan’s mineral rights (over 600 individual claims) held directly or through mineral lease agreements, and claims staked by Kennecott (Rio Tinto) – yellow.

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Perseverance – potential for a world-class deposit

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• 2.5km-diameter chargeability anomaly outlining a large sulphide system

• A fertile system - over 8 individual porphyry intrusions, extensive mineralised skarns and breccia’s

• Perseverance is untested with over 250 historical drill holes focused on Cactus and Horn

Cactus Corridor (Cu-Au-Ag breccia)

• 27m @ 1% Cu, 1.2g/t Au from 74m ▪ 130m @ 0.76% Cu from 27m

• 43.6m @ 1.7% Cu from 207m

• 21.5m @ 6% Cu (channel sample)

Perseverance Cu-Mo-Au porphyry prospect

• 2.5km diameter strong chargeability anomaly

• Comparable size to Bingham Canyon (porphyry deposit + pyrite shell)

  • Untested

Horn Mine (Zn-Pb-Ag)

• Historical production of 934,000t

  • @ 30% Pb, 600 g/t Ag (oxides)

  • 16.97m @ 14% Zn (SF-2)

  • 15m @ 16.9% Zn (SF-3)

• 32.5m @ 3.8% Cu (channel sample)

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Wasp (Projected)
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N
Perseverance
Cactus
1 billion
tonnes
(SG = 2.7)
1000m Horn Mine
370m
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• Scale comparison only

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S
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Porphyry mineral systems and carbonate hosted mineralisation

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• Where porphyry mineral systems have intruded into large carbonate sequences large orebodies can be deposited into the carbonates in the form of skarns and replacement deposits (e.g. Las Bambas, Tintaya, Ertsberg, Antamina)

• Thick carbonate sequence at Accrington (1000-2000m) may host substantial base and precious metal orebodies

• Skarns often occur proximal to or within porphyry copper deposits

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Carr Fork/North Rim
Skarns
> 7mt of Cu and 9m
oz of Au produced [1,2]
Bingham porphyry
Historical production
of over 3Bt ore
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Lark etc
> 33Mt ore at 7% Pb,
3% Zn, 115 g/t Ag, 1.2
g/t Au [2]
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Map of Bingham Canyon showing the location of the main orebodies and mines (Source: Tooker, 1990 )

References:

1. Copper-gold skarn deposits of the Bingham Mining District, Utah; Harrison; 1998

2. History and Production of the West Mountain (Bingham) Mining District, Utah; Krahulec; 1997

Important Note:

References to mineral resources and historical production do not in any way guarantee that Alderan will have any success or similar successes in delineating a JORC compliant mineral resource on the Frisco Project, if at all

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Accrington – a large, heavily-mineralised skarn

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• A large, heavily-mineralised skarn with historical small scale mining across 4km by 2km

• Multiple mineralisation styles including copper-garnet-magnetite skarns, zinc-lead-silver mantos, carbonate replacement, epithermal-style polymetallic veins and copper-bearing porphyry dykes.

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Perseverance Porphyry Imperial/Accrington
Prospect copper skarns
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Horn Mine & Reciprocity
Zone
(Zn-Pb-Ag)
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Accrington – extensive outcropping copper

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• Copper mineralisation best developed within the Upper and Lower Garnet skarns within several hundred meters of the Monzodiorite contact

• Sampling along confirmed widespread copper including higher grades associated with a copper magnetite skarn

• Total strike length of mineralised Initial upper and lower garnet skarns is in excess of 1000m

• Combined thickness of mineralised upper and lower garnet zones is approximately 150m

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Accrington – thick copper bearing skarns

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• Historical drilling by Bear Creek (Kennecott) in the 1960’s within the Imperial claims targeted the Upper Garnet skarn by Bear Creek with no drill testing since

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Accrington - potential extensions at depth

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• Known mineralisation coincides with a 10 and 15mV/V chargeability anomaly

• Geophysics suggest a continuation of skarns to depth

• Chargeability anomalies coincide with a magnetic anomaly possibly representing copper-magnetite skarns.

• Carbonate sequence may be 1000-2000m thick

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Magnetic body
Chargeability – 10 mV/v
Cactus Stock
Intrusive
Cactus Stock
Intrusive
Perseverance
Carbonate/ Skarn
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Accrington – precious metals endowment

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• Grid sampling across Accrington identified large areas of gold (>0.1 g/t) and silver (>5 g/t) mineralisation

• Selective rock chip sampling returned high grade mineralisation with significant precious metal credits (see table on right)

• Limited assays for gold in historical drilling or assays at Imperial

SAMPLE	Au(g/t)	Ag (g/t)	Cu(%)	Zn(%)
HSPG009	0.3	322	1.05	>30.0
HSCR006	0.3	19.35	1.49	0.4
HSCR007	0.7	1200	5.36	3.11
HSPG001	0.5	36.1	1.505	3.97
HSPG004	0.7	117	1.265	>30.0
HSPG005	1.3	1310	4.67	3.68
HSPG006	0.8	53.6	2.39	0.4
HSPG007	1	157	4.22	2.76
HSPG011	0.7	89	4.45	0.18
HSPG012	<0.2	11.05	1.92	0.55
HSPG015	<0.2	51.2	2.72	0.5

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Imperial Mine
Washington
Accrington East
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Accrington – Washington Mine

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• Abundant historical workings focused on high grade structurally controlled and replacement style mineralisation at Washington

• Zinc rich mineralisation at surface with mine dumps showing copper rich material at depth

• Widespread Zn (>0.25%), Pb (>0.25%), Cu (>0.1%), Au (>0.1 g/t), Ag (>5 g/t) in grid sampling

• Targeting Imperial-Accrington East style copper-garnet skarns at shallow depths

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Washington Mine
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Accrington: High grade zinc-lead-silver

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• Production of 934,000t @ approximately 30% Pb, 600 g/t Ag with significant unmined zinc

• Deposit is predominantly oxide transitioning to mixed oxide-sulphide at depth

• Large chargeability anomaly beneath workings may represent a Zn-Pb-Ag sulphide orebody

• Potential for further high grade Zn-Pb-Ag orebodies within Accrington

High grade Zn-Pb-Ag sulphides? Perseverance Horn Mine		Hole_ID	From (m)	To (m)	Interval	Zn %
		SF-2	282.8	286.5	3.6	5.86
			356.6	373.6	16.97	14
		SF-3	358.93	362.41	3.48	18.01
			374.45	389.53	15.1	16.93
		Table of significant historical drilling results at the Horn Mine (above)
		Horn Mine

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Drill Program: Accrington & Perseverance

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• Initial 5000m+ drill program

• Commencing at the start of June

• At least 10 holes testing the copper bearing upper-lower garnet skarn across over 800m strike (300-400m each)

• 2 deeper drill holes testing Perseverance and deeper copper bearing skarns (up to 1000m each)

• Work commencing on permitting for Stage 2 drilling (Accrington)

• Demonstrate resource potential and scale

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Drill Program: Perseverance

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• First drill hole (ALIM001) to commence in June at Imperial Mine testing (a) copper bearing upper/lower skarn, (b) depth extent and possible repetitions of copper skarns; and (c) Perseverance porphyry prospect

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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 Taxes Power & Fuel State support Mining services costs Stable 350 MW power 50% infrastructure Large, developed 100% ownership regime generation tax rebate mining sector of mineral rights Corporate within 25km, with tax of 21% cheap fuel underground experience

• Lower risks

• • Lower cut-off grade

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• Lower economic thresholds

• • Low cost of capital • Higher NPV

Royalties Private Land Rail/road Smelters 3% NSR to No Sealed roads Copper landholder competing within 1- smelters with options land use. 4km. within 3-10 to reduce to Easier Railways hours by 1% permitting. within 20km rail or road c State land swaps

Low sovereign Skilled risk workforce One of the best Advanced, mining developed jurisdictions world (Utah) and the economy largest economy in the world

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THANK YOU

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WWW.ALDERANRESOURCES.COM.AU

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

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