HAWK RESOURCES LIMITED. — Investor Presentation 2021

Aug 2, 2021

Drilling for USA’s Next Major Copper & Gold Discoveries

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Shareholder Presentation August 2021

1

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.

In relation to previous announcements containing exploration results in this presentation which were reported by the Company in accordance with listing rule 5.7 on 11 June 2021, 9 June 2021, 11 May 2021, 11 March 2021, 8 March 2021, 22 February 2021 and 22 September 2020, the Company confirms that it is not aware of any new information or data that materially affects the information included in those announcements. The Company confirms the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcements.

This presentation has been approved for release by the Board of Alderan Resources Limited.

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Highlights

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Projects located in Utah, USA – a tier 1 mining jurisdiction Flagship Detroit copper-gold project in historical mining district Detroit exploration results highlight outstanding copper & gold potential Detroit drilling to commence in September CY21 Prospect pipeline developed - Valley Crossroads, Frisco & White Mountain Highly experienced Board & executive team

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Historical Copperhead Mine at Detroit

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Board & Executive Team

Non-Executive Chairman Managing Director Non-Executive Director VP Operations (US) Company Secretary Tom Eadie Scott Caithness Peter Williams Bruno Hegner Mathew O’Hara Geologist & geophysicist Geologist with 35 yrs Former Managing Director Corporate manager with 25 Has been employed by and with 40 yrs experience. experience in mineral of Alderan Resources and years experience. Former acted as an independent Founding chair of Syrah exploration in Australia, Chief Geophysicist & Managing Director of RT director, company Resources, Copper Strike & Asia, Africa and the Pacific. Manager of Geoscience Copper Projects Group, Rio secretary and CFO for Discovery Nickel. Former Former roles include Technology at WMC Tinto. Vice President of numerous resource Executive GM Exploration Director Exploration for the Resources. Founding Resolution Copper companies in Australia, & Technology, Pasminco Vedanta group, co-founder member of Independence Company. Africa, Canada and the Limited. and MD of Indian Pacific Group & founding Director USA. BA – Fort Lewis College; JD, Resources (now Akora of Ampella Mining. BSc (Hons) Geology/ Law – Sturm College of Law B.Com. – University of Resources (ASX: AKO)), Geophysics - University of MSc Geophysics – University of Denver Western Australia; Austrade Senior Trade British Columbia; MSC Engineering – Colorado Chartered Accountant (CA Commissioner to Malaysia Geophysics – University of School of Mines; Adjunct ANZ)

Geologist & geophysicist with 40 yrs experience. Founding chair of Syrah Resources, Copper Strike & Discovery Nickel. Former Executive GM Exploration & Technology, Pasminco Limited.

Geologist with 35 yrs Former Managing Director experience in mineral of Alderan Resources and exploration in Australia, Chief Geophysicist & Asia, Africa and the Pacific. Manager of Geoscience Former roles include Technology at WMC Director Exploration for the Resources. Founding Vedanta group, co-founder member of Independence and MD of Indian Pacific Group & founding Director Resources (now Akora of Ampella Mining. Resources (ASX: AKO)), MSc Geophysics Austrade Senior Trade Engineering – Colorado Commissioner to Malaysia School of Mines; Adjunct & Brunei and GM Professor, Centre for Exploration, Rio Tinto Exploration Targeting – Exploration. University of Western BSc (Applied Geology) – Australia RMIT University; GAICD

BSc (Hons) Geology/ Geophysics - University of British Columbia; MSC Geophysics – University of Toronto; Grad Diploma in Applied Finance & Investment

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Project Locations

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Modified from: Johnson, C.L et al; Toward a Global Carlin-Type Exploration Model: The Relationship between Eocence Magmatism and Diverse Gold Rich deposits in the Great Basin, USA; Nov 2020

▪ Utah - a Tier 1 mining jurisdiction

• 4[th] on Fraser Institute 2020 ranking of policy perception*

▪ Excellent access to infrastructure

• Major copper and gold mining districts in Utah and neighbouring Nevada

• Bingham - copper & gold

• Carlin - gold

• Battle Mountain – gold & copper

• Detroit has potential for Bingham, Carlin & Battle Mountain deposit styles

• Porphyry copper-molybdenum-gold

• Distal disseminated gold

• Skarn copper-gold

• Carbonate replacement

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* Fraser Institute Annual Survey of Mining Companies 2020; www.fraserinstitute.org

Detroit Project

Potential for porphyry, distal disseminated, skarn and structure related copper and gold deposits in an historical copper, gold and manganese mining district

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Detroit: Overview

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• Gold, copper & manganese mining dating from 1890’s

• Alderan has consolidated district tenement - first time in +100 years

• Potential to host gold and porphyry copper-gold deposits

• Mizpah - a distal disseminated gold deposit

• 40 of 200 historic drill holes (1980s) ended in significant gold

• Alderan hole DDM20-006: 83m @ 0.41g/t Au incl 6.9m @1.98 g/t Au[1]

• Post consolidation exploration includes data compilation, rock, stream & soil sampling, ground magnetics & induced polarisation (IP) geophysics

  • Soil analysis in progress

• Next step: drilling

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1 Refer ASX announcement released 22 February 2021

Detroit: Alderan is District ‘First Mover’

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• Alderan has consolidated tenement at Detroit - now controls 24.7km[2] through options

• First consolidation in +100 years

• One year process of negotiating with multiple tenement owners • Freeport, Tamra and 3 local claim/tenement owners

• Enables first modern exploration to be carried out over entire District by one company

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Refer ASX announcement released 11 February 2021

Detroit: Copper & Gold in Streams & Rocks

Highly anomalous copper and gold in catchments and rocks

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Copper in stream catchments and rock sampling highlighting +1% copper

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Gold in stream catchments and rock sampling highlighting +2g/t gold

• Bulk leach extraction gold (BLEG) stream sediment sampling completed

• Highly anomalous copper and gold in streams

• 197 rock samples collected

• 17 samples grade >0.5% copper with max. 3.2% copper

• 28 samples grade >1g/t gold with maximum 9.0g/t gold

~~Refer ASX announcement released 11 May 2021~~

Detroit: A ‘Classic’ Porphyry Magnetic Signature

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Basin Main
anomaly
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Reduced to Pole Magnetic image

Magnetics inversion model isosurface at >0.03 SI units; view looking northwest

▪ Basin Complex is ~1.6km diameter

• Basin Main – potential copper mineralised potassic altered core of porphyry

• Dimensions 500m E-W x 300m N-S x 500m (D)

• Magnetic & weakly magnetic (altered?) intrusives in outer rim

• Potential for intrusive & skarn gold and base metals

▪ Copperhead magnetic anomaly

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• Potential for distal disseminated gold

Refer ASX announcement released 11 May 2021

Detroit vs Alumbrera Magnetic Signatures

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Interpreted potassic (biotite-
magnetite) core
Interpreted magnetic low
phyllic zone
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Detroit Basin Complex prospect reduced to pole magnetics

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Potassic (biotite-magnetite) core
Magnetic low phyllic zone
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Bajo de la Alumbrera porphyry Cu-Au deposit reduced to pole magnetics*

• Mining at Bajo de la Alumbrera in Argentina operated between 1998 and 2019

• Detroit has similar magnetic signature in size and amplitude

• From: Clark, D.A.: Magnetic effects of alteration in mineral systems; CSIRO; 2017

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Detroit: Strong Chargeability Supports Magnetics

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Copperhead
Northern Extension
Basin Complex
Southern
chargeability anomaly
Anomaly
Basin Main
magnetic anomaly
Low resistivity
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• Strong IP chargeability coincident with Basin Complex

• Indicates presence of sulphides

• High chargeability wraps around Basin Main magnetic anomaly

• Resistivity low surrounds chargeability high

• 3 new chargeability targets - Copperhead, Northern Extension & Southern Anomaly

• Distal disseminated gold potential

Magnetic isosurface cutoff >0.03 SI units; Chargeability isosurface cutoff >40 msec; view looking northwest

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Refer ASX announcement released 9 June 2021

Detroit: Basin Main Potentially Due To Copper Sulphides

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Northern
Extension
Copperhead Basin Main less chargeable
Basin Main magnetic at higher cutoff
anomaly
Basin Complex chargeability
anomaly
Southern Anomaly
Chargeability anomaly at >40 millisecond cutoff Chargeability anomaly at >60 millisecond cutoff
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• Basin Main less chargeable at higher cutoff - likely due to copper rich sulphides vs iron sulphides (pyrite)

• Magnetic low arc surrounding Basin Main has highest chargeability – pyrite rich phyllic alteration

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Refer ASX announcement released 9 June 2021

Detroit: An Altered Mineralised Porphyry

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Basin Main magnetics inversion model isosurface at >0.03 SI units; view looking east
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• Petrography confirms copper and molybdenum mineralised potassic altered porphyry in core from hole DD20M-003

• 11 samples examined from 42m to 209m down hole

• Copper +/- molybdenum mineralisation identified in all samples

• The intensity of alteration and mineralisation increases with depth

• DD20M-003 drilled towards the Basin Main magnetic anomaly which was defined after drilling

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Refer ASX announcement released 21 July 2021

Detroit: Next Steps

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Refer ASX announcement released 9 June 2021

• Soil sampling completed - assaying underway

• 2,200 samples collected on 200m x 40m grid

• Trialling DetectORE technology for sample analysis

▪ IP survey extended by 3 lines

• 2 lines to south and 1 line to north to close off responses on last lines

▪ Permitting for ~25 drill holes underway

• Drill targets and prioritisation being finalised

• Drilling to commence in September

• First phase of drilling ~2,500m in 10 holes

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Detroit: In Summary

• Alderan carrying out first districtwide modern exploration

• Completed stream, rock & soil sampling, magnetics and IP geophysics

• All work indicates strong potential for a copper-goldmolybdenum porphyry

plus

distal disseminated, skarn, intrusive and structure related copper and gold deposits

• 5 copper and gold drill targets identified

• Drill hole permitting underway for commencement in Sept CY21

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Detroit Basin Complex looking to south

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Frisco: Porphyry, Skarn & Breccia Copper Deposit Potential

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• Potential for porphyry, skarn and breccia pipe copper-gold deposits

• Kennecott Exploration (KEX) earning 70% interest through expenditure of US$30 million over 10 yrs

• Past exploration focus on breccia pipe copper deposits at Cactus & skarns at Accrington

• Hole SAWM0001 intersected 41m @ 1.9% Cu, 0.62g/t Au, 7.1g/t Ag & 62.8ppm Mo

• Hole SAWM0004 intersected 34m @ 0.99% Cu, 0.14g/t Au & 13.3g/t Ag

Next Steps

• KEX drone aeromagnetic survey

• Data integration and target identification ahead of decision on drilling

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Refer ASX announcements released 22 September 2020 and 11 March 2021

Valley Crossroads & White Mountain

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Valley Crossroads
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White Mountain

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▪ Strong potential for copper-gold skarn deposits

• Down dip extensions of deposits on neighbouring Tamra tenement

• Alderan completed aeromagnetics, rock sampling & drilling at Black Rock prospect

Next Steps

Re-processing & integrating all exploration data to identify targets for drill testing

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▪ Preserved epithermal system with 5km zone of argillic, phyllic and silica alteration

• Sinter terraces, alunite cap, chalcedony blanket & historical sulphur mining

• Ground magnetics and reconnaissance rock sampling completed

Target

High grade epithermal gold-silver deposit associated with Brimstone Fault

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Conclusion: Drilling for a Major Copper-Gold Discovery

• Alderan’s flagship Detroit Project has potential for a porphyry copper-gold deposit plus peripheral distal disseminated, skarn, intrusive and structure related copper and gold deposits

• Next steps: soil analyses, permitting and drilling

• Initial drilling programme of 2,500m in ~10 holes to commence in Q3 CY21

• Alderan has built a portfolio of high quality copper and gold projects

• Copper-gold intercepts in drillholes at Frisco

• Utah is globally ranked Tier 1 mining jurisdiction

• Excellent mining infrastructure

▪ Highly experienced Board and executive team

• +100 years of exploration and corporate experience in resources sector

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Detroit Project: East Copperhead historical mine looking to west

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Corporate Structure

SUMMARY – Following completion of Placement

Share price (closing price prior to trading halt)	$0.047
Shares on issue (post Placement)	425,566,080
Market capitalisation (post Placement)	A$20 million
Options (post Placement)	96,732,292
Performance rights	400,000
Shares held by Directors & Management	~3.7%
Top 20 shareholders	~67%
Cash balance (post Placement)	A$5.47 million

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Directors &
Management
4%
Other
Shareholders
29%
Top 20
Shareholders
67%
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• *The above table incorporates the proposed changes to the capital structure and cash balance as a result of the Placement announced on 2 August

2021. Refer ASX announcement dated 2 August 2021 for further details regarding the Placement.

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Thankyou

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