METAL HAWK LIMITED. — Capital/Financing Update 2021

Oct 17, 2021

Metal Hawk Limited Level 2, 18 Kings Park Road West Perth WA 6005_________________________________________________________________

18 October 2021

ASX Announcement

CLEANSING NOTICE – Placement Shares and Converted Options

Placement Shares:

Further to its ASX announcement dated 8 October 2021 “ Capital Raising to Accelerate Drilling at Berehaven ” and associated Appendix 3B of the same date, Metal Hawk Limited (ASX: MHK) ( Metal Hawk ) has issued 5,387,125 fully paid ordinary shares ( Placement Shares ) at an issue price of $0.45 per Placement Share raising $2,424,206.25 (before costs). The issue of Placement Shares was undertaken pursuant to the Company’s placement capacity under ASX Listing Rule 7.1.

Converted Options:

Further, Metal Hawk hereby notifies ASX under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Act ) in relation to the issue of 330,769 fully paid ordinary shares ( Shares ) issued on the exercise of options at $0.25 per share, without disclosure, under Part 6D.2 of the Act.

Metal Hawk issued the Placement Shares and the Shares without disclosure to investors under section 708A(5) of the Corporations Act 2001 (Cth) ( Act ) and, in accordance with section 708A(6) of the Act, gives notice under section 708A(5)(e) that:

1. the Placement Shares and the Shares were issued without disclosure to investors under Part 6D.2 of the Act;

2. as at the date of this notice:

   • a) the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company;

   • b) the Company has complied with section 674 of the Act; and

   • c) there is no excluded information within the meaning of sections 708A(7) and 708A(8) of the Act which is required to be disclosed under section 708A(6)(e) of the Act.

For and on behalf of the Board

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Chris Marshall Company Secretary

MHK Cleansing Notice 18 October 2021