HAWTHORN RESOURCES LIMITED — AGM Information 2011

Nov 29, 2011

ABN 44 009 157 439

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Level 2, 90 William St Melbourne Victoria 3000 Australia Telephone: +61 3 9605 5950 Facsimile: +61 3 9605 5999 Email: info@hawthornresources.com

COMPANY ANNOUNCEMENT

30 November 2011

Hawthorn Resources Limited

ANNUAL GENERAL MEETING

Chairman’s Presentation

Attached for release to the market is a copy of the Chairman’s Address to be given at the Annual General Meeting of the shareholders of Hawthorn Resources Limited in Melbourne today by the Chairman, Mr Mark Kerr.

ENDS

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Chairman’s Address

GOOD AFTERNOON SHAREHOLDERS,

I WANT TO GIVE A WELCOME TO ALL STAKEHOLDERS PRESENT HERE TODAY.

AS YOU ALL KNOW THE GFC HAS SIGNIFICANTLY IMPACTED THE CURRENT BUSINESS CLIMATE, AND HAWTHORN RESOURCES HAS BEEN NO EXCEPTION TO THIS. HOWEVER, GIVEN THE HARD WORK OF YOUR BOARD AND THE EXCELLENT PROGRESS MADE ON OUR VARIOUS EXCITING PROJECTS, WE HAVE SEEN A SUBSTANTIAL APPRECIATION IN THE SHARE PRICE OVER THE LAST YEAR.

THIS SHARE PRICE OVER THE LAST FINANCIAL YEAR:

• JUNE 30, 2010 = 0.4 CENTS

• • JUNE 30, 2011 = 1.4 CENTS

THE PAST YEAR SINCE LAST AGM:

• NOVEMBER 2010 = 0.5 CENTS • NOVEMBER 2011 = 1.2 CENTS

I AM TAKING THIS OPPORTUNITY TO UPDATE OUR SHAREHOLDERS ON THE EXCITING OPPORTUNITIES AHEAD FOR HAWTHORN RESOURCES LIMITED

AS YOU ARE AWARE HAWTHORN RESOURCES IS MATURING INTO A GOLD EXPLORATION COMPANY, WHILST PROGRESSING WITH THE SUBSTANTIAL MT BEVAN IRON ORE PROJECT.

HAWTHORN CURRENTLY HAS 5 ADVANCED GOLD PROJECTS, AND I WOULD LIKE TO BRIEFLY OUTLINE THE PROGRESS OF EACH.

1 ANGLO SAXON/TROUSER LEGS

• ON THE 10[TH] NOVEMBER 2011, WE WERE PLEASED TO ANNOUNCE A JORC COMPLIANT INDICATED GOLD RESOURCE AT ANGLO SAXON WITHIN THE TROUSER LEGS JOINT VENTURE PROJECT (HAW 70%) TO BE 304,316 TONNES @ 2.57 G/T AU FOR 25,121 OUNCES OF GOLD.

• MINING ACTIVITIES ARE EXPECTED TO COMMENCE LATE IN 2012.

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2 DEEP SOUTH

• WE HAVE ACHIEVED ENCOURAGING DRILLING RESULTS AT THIS PROJECT WITH HIGH GRADE GOLD MINERALISATION IDENTIFIED OPEN AT DEPTH AND ALONG STRIKE.

• BEST RESULT TO DATE – 5 METRES @ 7.05 G/T AU (UNDERGROUND MINEABLE)

• SARACEN MINERAL HOLDINGS (WHO OPERATE A PROJECT ADJOINING OUR TENEMENT) HAVE INDICATED PLANS TO COMMENCE MINING EARLY IN 2013 – SUBJECT TO A FEASIBILITY STUDY THAT IS CURRENTLY UNDERWAY.

3 WHITEHEADS

• THIS TENEMENT IS YET TO BE DRILLED BY HAWTHORN, BUT EXISTING HAW GEOCHEMISTRY AND RAB DRILLING RESULTS ARE VERY ENCOURAGING.

• THE TENEMENT IS WELL SERVICED BY INFRASTRUCTURE, LOCATED 50KM FROM KALGOORLIE.

4 YUNDAMINDERA/COFFEY BORE

• THE PROJECT IS LOCATED WITHIN A HIGHLY PROSPECTIVE REGION THAT HOSTS THE SUNRISE DAM, WALLABY, GRANNY SMITH, MT MORGANS, RED OCTOBER & BUTCHER WELL MINES. THESE MINES CONTAIN A COMBINED 20.0 M OZ OF GOLD RESOURCES.

5 EDJUDINA/TRIUMPH

• RECENT DRILLING AT THE HISTORIC EDJUDINA-TRIUMPH GOLD MINE HAS INTERSECTED THE HIGH GRADE PRIMARY GOLD LODE, WHERE A PREVIOUS RESOURCE OF 75,000 OZ OF GOLD WAS ESTIMATED.

THROUGH THESE PROJECTS, HAWTHORN INTENDS TO GRADUATE FROM AN EXPLORER TO A GOLD PRODUCER IN THE NEAR FUTURE.

THE MT BEVAN IRON ORE PROJECT CONTINUES TO DELIVER SHAREHOLDER VALUE WITH OUR JOINT VENTURE PARTNER LEGACY IRON ORE LIMITED.

AN INDEPENDENT REPORT COMMISSIONED BY LEGACY AND RELEASED TO THE ASX, VALUED THE TOTAL PROJECT AT $174.2M.

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THE SECOND STAGE OF DRILLING IS NOW COMPLETE AND IS EXPECTED TO INCREASE THE RESOURCE SUBSTANTIALLY. A RECALCULATED RESOURCE IS EXPECTED IN JANUARY 2012.

UNDER THE TERMS OF THE OCTOBER 2010 FARM-IN AND JOINT VENTURE AGREEMENT, WE EXPECT LEGACY WILL EARN A 60% INTEREST IN THE PROJECT BY MID-2012, HOWEVER

• HAWTHORN RETAINS THE IMPORTANT AND VALUABLE RIGHTS TO MARKET OR ENTER INTO OFFTAKE AGREEMENTS FOR 40% OF ALL PRODUCTION FROM MT BEVAN, AND

• THROUGH THE FORMATION OF THE JOINT VENTURE TECHNICAL STEERING COMMITTEE, WITH 2 MEMBERS NOMINATED BY EACH COMPANY, HAWTHORN HAS AN EQUAL VOTE IN EXPLORATION AND DEVELOPMENT PROPOSED FOR THE PROJECT AREA.

CORPORATE OVERVIEW

OVER THE PAST 12 MONTHS HAWTHORN HAS BEEN APPROACHED BY SEVERAL EQUITY AND CAPITAL MARKETS PARTIES WITH A VIEW TO A DIRECT INVESTMENT IN HAWTHORN.

HAWTHORN IS EVALUATING THE POTENTIAL OF SPINNING OFF VARIOUS PROJECTS TO REALISE SHAREHOLDER VALUE.

DISCUSSIONS HAVE TAKEN PLACE WITH A PARTY ON PRODUCTION OF DSO HAEMATITE. THE DEPOSIT IS LOCATED ON THE SOUTHERN BOUNDARY WITH JUPITER’S AT OUR MT. BEVAN PROJECT. WE EAGERLY AWAIT THE RESULT OF THE JUPITER’S FEASIBILITY STUDY.

HAWTHORN IS EVALUATING THE OPTIMUM WAY TO FUND THESE VERY EXCITING PROJECTS. AT THIS STAGE WE ARE UNABLE TO DEFINITIVELY ADVISE SHAREHOLDERS WHAT COMBINATION OF DEBT AND OR EQUITY WILL BE USED.

IN SUMMARY THE BOARD HAS NOTED SEVERAL SHORT TERM IMPORTANT MILESTONES RECENTLY:

• (1) RESOURCE UPDATE FOR THE ANGLO-SAXON GOLD PROJECT (NOVEMBER 2011) – COMPLETED

• (2) JUPITER $44M FEASIBILITY STUDY TO BE COMPLETED FOR ITS ADJOINING IRON PROJECTS TO MT. BEVAN (HAEMATITE MARCH 2012, MAGNETITE DECEMBER 2012)

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• (3) NMDC OF INDIA, SUBJECT TO THE APPROVAL OF THE LCY SHAREHOLDERS, WILL BECOME 50% SHAREHOLDER IN LEGACY (DECEMBER 16 2012)

• (4) RESOURCE UPGRADE FOR MT. BEVAN IRON ORE PROJECT (JANUARY 2012)

• (5) DRILLING TO TAKE PLACE AT HAWTHORN KEY GOLD PROJECTS (Q1 2012)

• (6) INITIAL GOLD RESOURCES DEFINED AT YUNDAMINDERA-COFFEY BORE AND DEEP SOUTH (Q2/Q3 2012)

• (7) COMMENCEMENT OF MINING AT ANGLO-SAXON (Q3/Q4 2012)

I WOULD LIKE TO THANK MY FELLOW DIRECTORS AND STAFF FOR THEIR EFFORTS THROUGHOUT THE YEAR.

THANK YOU FOR YOUR TIME, IF YOU HAVE ANY QUESTIONS PLEASE FEEL FREE TO ASK

Mark Kerr Chairman Melbourne. 30 November 2011