HAWK RESOURCES LIMITED. — Investor Presentation 2020

May 7, 2020

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ALDERAN BUILDS - COPPER GOLD PORTFOLIO of ADVANCED PROJECTS UTAH, USA

DISCLAIMER

The information contained in this presentation or subsequently provided to any recipient of this presentation whether orally or in writing by or on behalf of Alderan Resources Limited (Alderan) or its respective employees, agents or consultants (Information) is provided to the recipients on the terms and conditions set out in this notice. The purpose of this presentation is to provide recipients with information relating to Alderan projects, including the binding Option Agreements signed with Tamra Mining Company LLC (Tamra Mining) as announced to the ASX on 25 March 2020 and 16 April 2020.

This presentation does not constitute investment advice and has been prepared by Alderan without taking into account the recipient’s investment objectives, financial circumstances or particular needs. Each recipient must make his/her own independent assessment and investigation of Alderan and its business and assets when deciding if an investment is appropriate and should not rely on any statement or the adequacy and accuracy of any information. This presentation is in summary form and does not purpose to be exhaustive. This presentation should be read in conjunction with Alderan’s periodic and continuous disclosure announcements lodged with the ASX, which are available to download at www.asx.com.au.

Alderan makes no representation or warranty (either expressed or implied) as to the accuracy, reliability or completeness of the Information. Alderan and its directors, employees, agents and consultants shall have no liability (including liability to any person by reason of negligence or negligent misstatement) for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived from, or for any omissions from the presentation, except liability under statute that can not be excluded.

This presentation may contain forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Alderan. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements.

This presentation does not constitute in any way an offer or invitation to subscribe for securities in Alderan pursuant to the Corporations Act 2001 (Cth) and has not been lodged with the Australian Securities and Investment Commission.

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COMPANY OVERVIEW

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Portfolio of Earning up to 70% Kennecott/Rio advanced gold- interest in Tinto funding up copper projects in Valley/Crossroads to US$30 million highly prospective (copper-gold) and exploration at mining districts in Drum (gold) Alderan’s adjacent Utah, USA projects Frisco Project

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Projects located in mining friendly jurisdiction; close to infrastructure

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Exploration program ready to execute on Valley/Crossroads and Drum in 2020

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Highly

experienced Board & Management driven to create shareholder value through exploration success

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CORPORATE STRUCTURE
SUMMARY
Share price $0.015
Shares on issue 207,247,132
Options
Market Cap $3.11m
Top 20 shareholders ~80%
$400k 30 [th] April with $50k cash to be
settled as second tranche of fund
Cash balance
raising on 30/03/2020
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DIRECTORS & SENIOR MANAGEMENT

TOM EADIE

NON-EXECUTIVE CHAIRMAN

Geologist, geophysicist and founding chairman of Syrah Resources, Copper Strike, Discovery Nickel. Previously Executive General Manager of Exploration & Technology, Pasminco Limited.

NICOLAUS HEINEN

NON-EXECUTIVE DIRECTOR

Founder of Alderan, Belgrave Capital Limited and Universal Copper LLC. Investor and entrepreneur with 25 years' experience in corporate finance and capital markets including with Sal. Oppenheim jr & Cie.

PETER WILLIAMS

DIRECTOR OF EXPLORATION

Former Chief Geophysicist and Manager of Geoscience Technology for WMC Resources. Founding member of Independence Group and founding director of Ampella Mining.

MARAT ABZALOV

NON-EXECUTIVE DIRECTOR

A geologist with 35 years’ experience. Has held roles in research, exploration and mining geology, including senior management positions at WMC Resources and Rio Tinto.

BRUNO HEGNER

VP OF OPERATIONS (US)

25 years' experience as a corporate manager. Managing Director of Major Copper Projects, Rio Tinto. Vice-President of Resolution Copper Company.

BRETT TUCKER

COMPANY SECRETARY

A chartered accountant who has acted as Company Secretary to a number of ASX-listed and private companies.

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TECHNICAL ENGAGEMENT TEAM

JEFF NICHOLES

EXPLORATIONIST (US), GEOLOGIST

Consultant Geologist, ex Newmont and Kennecott, 30+ years experience in the Great Basin in Nevada and Utah, extensive experience in Carlin Gold style exploration including generative, as well as skarn and porphyry style exploration and discovery. Has worked in the Bingham Mine and exploration programs.

PETER WILLIAMS

DIRECTOR OF EXPLORATION

Explorationist with 35 years’ experience, former Chief Geophysicist and Manager of Geoscience Technology for WMC Resources. Founding member of Independence Group, Intierra, HiSeis, Elemental Royalties and founding director of Ampella Mining. Directly involved in greenfield, brownfields and in-mine discoveries in multiple commodities.

SIMON BOLSTER

EXPLORATIONIST, GEOCHEMIST

Consultant Geochemist, over 30 years’ experience in the gold exploration industry, specializing in regolith geochemistry and remote sensing. Worked in 30 countries – 5 continents. Former Consulting Geochemist – Newmont (global role), regolith specialist – Normandy Exploration and Anglo American (Africa).

MARAT ABZALOV

EXPLORATIONIST/RESOURCE MODELLING

A geologist with 35 years’ international multi-commodity experience. Has held roles in research, exploration (greenfields, brownfields, inmine) and mining geology, including senior management positions at WMC Resources and Rio Tinto.

DAVE JOHNSON

BRUNO HEGNER

VP OF OPERATIONS (US)/ LAND MANAGEMENT

25 years' experience as a corporate manager. Managing Director of Major Copper Projects, Rio Tinto. Vice-President of Resolution Copper Company. Extensive experience in land management in Utah, administration and legal.

EXPLORATIONIST (US)/GEOPHYSICIST

Consulting geophysicist with 30+ years’ experience. Has held roles in research, exploration and mining geophysics, including senior management positions at WMC Resources, Independence Group and Lionore. Experienced in integrated exploration, and 3D modelling.

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PROJECTS LOCATED IN HEART OF USA

Long Canyon Gold Mine Carlin trend Battle Mtn trend Long Canyon gold discovery in 1999 by Fronteer lead to re-appraisal of eastern Great Basin Bingham Canyon copper mine has gold endowment of 1.8m ozs in Sediment hosted deposits , 9.5 m ozs in skarns and 44.45m ozs of gold in porphyry (Source:www.researchgate.net/publication/ 328676854_Production_history_of_the_Bingham_mining_district_ Salt_Lake_County_Utah_-_an_update EASTERN GREAT BASIN IS UNDEREXPLORED FOR GOLD

Miami and Holden Copper Smelters

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USA’S GREAT BASIN

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Superb endowment of gold including world-leading Carlin style mineralisation

• Bingham Canyon, one of many giant porphyry copper deposits, annually produces[1] :

• 400,000oz Au ,

• 275,000 tons of refined Cu ,

• 4 million oz Ag , and

• 25 million pounds of Mo

• Historical production of +18 million tons Cu and 26 million oz Au

• Exploration thinking constricted by 2 trends

• Utah modern day exploration inhibited by land access

• 1 Source:

[https://www.researchgate.net/publication/328676854_Production_history_of_the_Bingham_mini ng_district_Salt_Lake_County_Utah_-_an_update]

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UTAH’S TWO UNDEREXPLORED IGNEOUS BELTS

• Eocene igneous magmatic systems have been linked to significant gold mineralisation n Nevada

• Three igneous belts host porphyry copper+/-gold systems in Utah:

• Pioche-Marysvale Belt

o Tintic Belt

• Bingham Belt

• Pioche-Marysvale and Tintic belts are larger than Bingham Belt

• Pioche-Marysvale Belt hosts Frisco and Valley/Crossroads

• Tintic Belt hosts Detroit Gold Project

• Pioche-Marysvale and Tintic are exceptionally underexplored

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Source: https://www.nevadaexploration.com/_resources/Muntean_et_al_Carlin_Genetic_Model-2011.pdf

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OPTION AGREEMENT
WITH TAMRA MINING LLC
• Alderan has option to earn up to 70% of two projects in Utah, USA [2] :
o Valley/Crossroads – High-grade skarn and porphyry copper-gold-molybdenum –
underexplored gold potential
o Detroit – Gold (Carlin style) and gold-copper-molybdenum project in tightly held
area
•
US$46m infrastructure [3] on site including:
o Copper flotation circuit
o SX/EW circuit
o Laboratories and other infrastructure
•
Mining Permits – Full mining permissions, water licenses at Valley/Crossroads
• 260km [2] of ground, exploration upside, potential for mining scale
• Drill program expected to commence within 6 months
2 For further information refer ASX releases dated 25 March 2020 and 16 April 2020
3As per 2017 independent valuation 1100
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POTENTIAL OF VALLEY/CROSSROADS PROJECT AREA

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• Historically a copper mining district – but gold is present

But less than 5% of drill metres assayed for gold

• WMC, Noranda, Anaconda, BHP have explored region - inhibited by land access

• No systematic integrated exploration of the mining camp

• 180km2 ready for modern exploration

Black claims outline are those claimed by Tamra. Red and blue claims outline on left are

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Alderan's adjacent Frisco Project.

VALLEY/CROSSROADS COPPER-GOLD COMPLEX

• Earning up to 70% of highly prospective project in Utah, USA

• Hosts porphyry copper and skarn-hosted copper-gold; structurally emplaced sediment hosted gold mineralisation

• No modern-day systematic exploration, especially for gold

• Synergies with Alderan’s adjacent Frisco Project: similar deposit style, controls

• Huge exploration potential: Valley/Crossroads is advanced; exploration upside – potential to establish mining scale

• Potential to fast track mining : Mining Licences in place

• Excellent infrastructure: Sealed highway, railway, water/licences

• Project is environmentally compliant and permitted

• Social Licence: Community and government relationships established

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VALLEY/CROSSROADS COPPER-GOLD PROSPECTS

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HI GH-GRADE L arge L o w Grad e COPPER/GOL D Potential PROSPEC TS

VALLEY SKARN

OK 11 (No gold assays)

• 10m @ 1.1% Cu, 0.29 gpt Au

• 18.6m @ 1.1% Cu, 1.54 gpt Au

• OK11 hole, 110m @ 0.16% Cu, ending in mineralisation, within 1200m diameter IP anomaly

• <4% of samples assayed for gold

OK BRECCIA PIPE

• Seven holes over an area of 1000 x 750m, at depths ranging from 200-800m, open in all directions

• 1902 production of upper ore averaging 40% Copper, 7.5 ozs per ton Ag, 18 ozs per tonne gold.

GOLD PEAK

• Historical surface rock chip 14%Cu, 10 gpt Au (black hematite)

• 1974 production 650,000 tons of ore for 7,000 tons of copper

• Historical surface rock chip 2.5%Cu, 7 gpt Au (mt-cpy skarn)

The drill results are historical, refer ASX announcements dated 25 March 2020 and 16 April 2020 for further information. Alderan has employed a local consultant to validate the results by:

1. Finding all existing data

CANDY B (no gold assays)

2. Field and laboratory checking

3. Repeating key data results

• 10-30m historical intercepts of

1.2-17% copper, 10-25 gpt

silver

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AL8 ASX Announcement 25 March 2020.

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DETROIT GOLD PROJECT
▪ Earning up to 70% of highly prospective gold project
▪ Highly sought-after ground: Major US gold producers have previously attempted
to secure key blocks in this area. Discovery of Long Canyon Gold Mine (2.2 m Oz
gold) in NE Nevada in 2012 has caused a re-appraisal of the gold potential of the
eastern Great Basin [5]
▪
Geological similarities to Cove Gold Mine, Nevada (3+ m oz) [6]
▪ First ground consolidation in 20+ years – first modern exploration
▪ Potential to host core of gold mineralisation and porphyry copper system
▪ Historic mining in Detroit Mining district dates back to 1870s – reportedly
produced 120,000oz Au [7]
▪ District hosted several other copper-gold-silver-manganese mines
5 http://www.financialpost.com/Newmont+buys+Fronteer/4220237/story.html
6 https://miningdataonline.com/property/1884/McCoy-Cove-Project.aspx
7 Ken Krahulec, 2011, Sedimentary rock-hosted gold and silver deposits of the Northeastern Basin and Range, Utah; Utah Geological Survey
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DETROIT GOLD PROJECT

Advanced argillic alteration at the Drum Mine

• Widespread gold mineralised jasperoids for more than 100 years - 120,000 oz gold production (Western States Minerals, 1974 – 1986) in the Detroit Mining district, Drum Mountains[8 ]

• USGS Jasperoid sampling program of Detroit Mining District in 1969 reported maximum values of 100 ppm Au, 1000 ppm silver, 1.5% bismuth, 10% Cu, >100 ppm Mercury 9

• Large exploration program by Freeport; efforts to consolidate ground were rejected

• Newmont explored Wildcat prospect (2012-14)

• Three gold mineralization styles at Drum Gold Mine West Extension Project: gold-bearing jasperoid, sulfide replacement and quartz vein

• Similarities to Cove Gold Mine, Nevada; Melco & Barney Canyon gold deposits, Utah - part of Bingham Mineral System

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Drum Mine Open Pit
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8 https://minelistings.com/mines-for-sale/utah-gold-heaps-for-sale/

• 9 https://pubs.usgs.gov/circ/1969/0623/report.pdf

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DETROIT GOLD DEPOSIT – LOCATION OF PROSPECTS

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Mines, prospects and shafts in the Detroit Project, superimposed on ASTER satellite data, enhanced for clay alteration

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10 Source: Taken from the Western States Minerals Corp database, 1988.

DETROIT GOLD PROJECT

Carlin Gold like model – style of mineralisation (section)

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Targeting mineralised structures in the Silty Limestone and Limey Siltstone In the approximately 300+ m thick carbonate section in the Detroit Project area

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DETROIT GOLD PROJECT – LOCATION OF PROSPECTS - MIZPA H SEDIMENT HOSTED GOLD TARGET BASIN PORPHYRY SYSTEM

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• Sediment hosted gold (Carlin-Cove gold mine), follow-up in previous exploration at upper part of Mizpah Prospect[11] . Open at depth

• Tamra claims cover 80% of the Basin Copper Porphyry system (Freeport holds remaining 20%)

• Historical drilling in the 1970’s identified porphyry system with drilling limited to 600-700 foot thick Chalcocite blanket in central/western portions

• Strong evidence for a deeper more productive system with BHP etc interpreting drilled areas to be the upper pyrite halo . Freeport – recently completed drilling

• Multiple companies have tried to consolidate this ground for exploration

11 Source: Taken from the Western States Minerals Corp database, 1988.

*Above map provided by Tamra Mining

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FRISCO PROJECT

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• Earn-in and JV agreement with Kennecott Exploration (part of Rio Tinto)[12]

• Kennecott has can spend up to US$30M to earn 70% interest in Frisco over 3 stages

• Earn-in may lead to JV with Kennecott

• Kennecott plans drilling approximately 1,000m at Cactus, Bandit, Accrington and Reciprocity Zone prospects in May, 2020

• Kennecott’s commitment validates Frisco’s prospectivity – provides funding and exploration expertise to uncover project’s potential

• 12 Refer ASX announcement dated 18 November 2019

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ALDERAN’S PLANS FOR 2020

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Gold
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• High resolution aeromagnetic survey over entire camp VC (for the first time)

• Induced Polarisation Survey, Geology mapping, geochemistry screen, Rapid move to drill definition

• Focus at Valley/Crossroads (VC): Gold Peak (follow-up 14% Cu, 10 gpt Au rock chips)

• Focus at Detroit: Mizpah (follow-up historic), structure

• Base Metals

• • High resolution aeromagnetic survey over entire camp VC (for the first time)

• Relogging of selected holes

• Compilation and ground truthing of previous work

• High powered geophysics (IP/TEM), review use of gravity

• Early focus: copper – gold value

AIMING TO DEFINE AND EXECUTE DRILL PROGRAM WITHIN SIX MONTHS

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SUMMARY

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Portfolio of Earning up to highly prospective 70% in Valley copper-gold /Crossroads (copperprojects in gold) and Drum Utah, USA (gold) projects

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Kennecott/Rio Tinto funding up to US$30 million exploration of Frisco Project

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Projects located in mining friendly jurisdiction and close to infrastructure

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Exploration program ready to execute on Valley/Crossroads and Drum in 2020

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www.alderanresources.com.au info@alderanresources.com.au

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