METAL HAWK LIMITED. — Capital/Financing Update 2021

Feb 3, 2021

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4[th] February 2021

MAIDEN DRILLING HITS GOLD AT KANOWNA EAST

Highlights

• Strong gold mineralisation intersected from wide-spaced drilling

• Multiple zones of anomalous gold with new targets identified

• Programme of Work approved to drill broad untested structural target

Metal Hawk Limited ( ASX: MHK , “Metal Hawk” or “The Company”) is pleased to provide an update on exploration drilling activities at the Kanowna East Project, situated 25 kilometres north-east of Kalgoorlie and 8 kilometres from Northern Star’s Kanowna Belle gold mine (+5 Moz Au).

Assay results have been received for approximately half of the recently completed aircore (AC) drilling at Kanowna East. A total of 240 AC holes for 15,520m have been drilled, with results pending for 121 holes.

Best results from composite samples received to date include:

• 4m @ 7.11g/t Au from 55m in KEAC180

• 5m @ 2.24g/t Au from 65m in KEAC006 (to end of hole)

• 6m @ 1.54g/t Au from 54m in KEAC051

• 6m @ 1.19g/t Au from 57m in KEAC053

• 5m @ 0.89g/t Au from 56m in KEAC183

• 5m @ 0.75g/t Au from 65m in KEAC008

• 6m @ 0.70g/t Au from 64m in KEAC005

• 6m @ 0.57g/t Au from 60m in KEAC035

Metal Hawk’s Managing Director Will Belbin commented; “These very encouraging results from our maiden drilling program support our belief that there could be a significant gold system at Kanowna East.” Systematic exploration is set to continue with a track-mounted lake AC rig scheduled to commence this month with approximately 45 holes remaining to complete Stage-1 of the Company’s extensive maiden drilling campaign.

Prior to this program the Kanowna East Project has been poorly explored with only 103 historical RAB and AC drillholes recorded at an average hole depth of 57m. Metal Hawk’s wide-spaced aircore drilling has been designed to test the bedrock geochemistry beneath the extensive cover sequence of clay and sand which overlies much of the project area. This drilling has intersected significant gold mineralisation in numerous drillholes at the Little Lake and Western Tiger prospects. Furthermore, a large proportion of the assays received to date have returned anomalous gold (see Figures 1 to 3 and Table 1).

1

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----- Start of picture text -----

Western Tiger
Little Lake
----- End of picture text -----

Figure 1. Kanowna East Aircore Drilling Highlights

2

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LITTLE LAKE

Aircore drilling has confirmed historical mineralisation at Little Lake, where a single aircore traverse in 2005 intersected 18m @ 1.2 g/t Au (from 60m to end-of-hole). Metal Hawk’s drilling has intersected highly anomalous gold in multiple aircore holes over a broad area up to 400m north of this historical intersection. Results are shown in Figure 2 (and Table 1) and highlights include:

• 4m @ 7.1g/t Au from 55m in KEAC180

• 5m @ 2.24g/t Au from 65m (to end of hole) in KEAC006

• 5m @ 0.89g/t Au from 56m in KEAC183

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Figure 2 . Kanowna East – Little Lake prospect aircore drilling

3

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WESTERN TIGER

Drilling at the Western Tiger prospect has identified a number of gold anomalies situated near the western side of tenement E27/596 and within close proximity to a number of historical gold intersections from RAB drilling (shown in Figure 3). Best results include:

• 6m @ 1.54g/t Au from 54m in KEAC051

• 6m @ 1.19g/t Au from 57m in KEAC053

• 6m @ 0.57g/t Au from 60m in KEAC035

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Figure 3. Kanowna East - Western Tiger prospect aircore drilling

4

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FORWARD PLAN

The Company will design follow-up work as Stage-1 drilling is completed and assay results are received. Stage-2 drilling is expected to commence in Q2-2021 and will include infill and extensional aircore as well as deeper RC drilling in order to further test the bedrock. Multielement analysis will be carried out on end-of-hole samples which The Company will use to help interpret the bedrock geology and mineralisation.

Additionally, PoW (Programme of Work) approval has been granted for further exploration drilling to the north of Little Lake (shown in Figures 1 and 2). A broad zone of structural complexity presents as a priority untested gold target and additional drilling will be conducted as part of Metal Hawk’s Stage-2 exploration program.

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Figure 4. Kanowna East and Emu Lake Project locations

While the Company is focused on exploring for gold at Kanowna East, the project is also highly prospective for nickel sulphides. Metal Hawk has a Farm-in and Joint Venture Agreement with Western Areas Limited (ASX: WSA) which includes the Kanowna East Project. WSA can earn a joint venture interest in all commodities other than gold and are managing nickel exploration on the project.

5

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This announcement has been authorised for release by Mr Will Belbin, Managing Director, on behalf of the Board of Metal Hawk Limited.

For further information regarding Metal Hawk Limited please visit our website at www.metalhawk.com.au or contact:

Will Belbin Managing Director admin@metalhawk.com.au

Table 1. Significant Aircore Results

Hole ID	From	To	interval	Au(ppm)
KEAC001	45	50	5	0.15
KEAC002	60	65	5	0.22
KEAC004	60	63	3	0.16
KEAC005	64	70	6	0.70
KEAC006	65	70	5	2.24
KEAC008	65	75	10	0.44
including	65	70	5	0.75
KEAC009	60	66	6	0.14
KEAC010	65	70	5	0.11
KEAC011	60	66	6	0.17
KEAC012	24	30	6	0.13
KEAC012	60	66	6	0.27
KEAC013	60	66	6	0.10
KEAC018	48	52	4	0.14
KEAC026	0	6	6	0.11
KEAC035	60	72	12	0.35
including	60	65	6	0.57
KEAC043	48	54	6	0.13
KEAC046	6	12	6	0.16
KEAC048	60	67	7	0.32
KEAC049	60	70	10	0.20
KEAC051	54	70	16	0.65
including	54	60	6	1.54
KEAC053	57	65	8	0.92
including	57	60	6	1.19
KEAC055	0	6	6	0.18
and	66	68	2	0.20
KEAC070	26	30	4	0.14
KEAC097	24	28	4	0.14

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KEAC098	76	80	4	0.15
KEAC099	12	20	8	0.17
KEAC127	58	62	4	0.18
KEAC128	28	34	6	0.11
KEAC128	58	64	6	0.21
KEAC128	70	78	8	0.13
KEAC129	22	29	7	0.12
KEAC133	53	56	3	0.10
KEAC180	55	59	4	7.11
KEAC181	30	36	6	0.34
KEAC183	24	30	6	0.17
and	52	61	9	0.58
including	56	61	5	0.89

Notes to Table:

• Grid coordinates GDA94 zone 51.

• Collar positions were determined by handheld GPS, with a nominal RL of 350m

• Aircore drilling was sampled (scooped) using a combination of composite sampling (2m-6m) and 1m samples. Samples were then sent to Intertek Genalysis, crushed and pulverised in LM5 units to produce a sub-sample. The pulps were then sent to Perth for analysis by 50gram fire assay with ICP-OES (Intertek Code FA50/OE04)

• Cut-off for reporting of 0.1 ppm Au.

• Significant results >0.5g/t Au are shown in bold

Table 2. Kanowna East Collar Locations

Hole ID	EAST	NORTH	Depth	Azimuth	Dip	Status
KEAC001	372402	6620973	96	270	-60	complete
KEAC002	372476	6620973	103	270	-60	complete
KEAC003	372564	6620982	83	270	-60	complete
KEAC004	372641	6621000	79	270	-60	complete
KEAC005	372803	6620997	77	270	-60	complete
KEAC006	372880	6620997	70	270	-60	complete
KEAC007	372960	6621003	65	270	-60	Assayspending
KEAC008	373048	6621004	84	270	-60	complete
KEAC009	373118	6621003	80	270	-60	complete
KEAC010	373196	6621002	95	270	-60	complete
KEAC011	372714	6620975	90	270	-90	complete
KEAC012	372728	6620206	74	270	-60	complete
KEAC013	372805	6620204	85	270	-60	complete
KEAC014	372857	6620198	72	270	-60	complete
KEAC015	372963	6620199	70	270	-60	complete

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KEAC016	373044	6620195	70	270	-60	complete
KEAC017	373124	6620199	86	270	-60	complete
KEAC018	373205	6620199	56	270	-60	complete
KEAC019	373285	6620200	25	270	-60	complete
KEAC020	373359	6620195	23	270	-60	complete
KEAC021	373440	6620198	41	270	-60	complete
KEAC022	372668	6620394	70	270	-60	complete
KEAC023	372720	6620399	70	270	-60	complete
KEAC024	372803	6620403	57	270	-60	complete
KEAC025	372883	6620395	69	270	-60	complete
KEAC026	372966	6620392	67	270	-60	complete
KEAC027	373011	6620399	69	270	-60	complete
KEAC028	373122	6620401	84	270	-60	complete
KEAC029	373284	6620401	57	270	-60	complete
KEAC030	373361	6620400	18	270	-60	complete
KEAC031	373443	6620402	31	270	-60	complete
KEAC032	370700	6622400	116	270	-60	complete
KEAC033	370784	6622398	115	270	-60	complete
KEAC034	370859	6622399	111	270	-60	complete
KEAC035	370939	6622398	104	270	-60	complete
KEAC036	371023	6622403	98	270	-60	complete
KEAC037	371105	6622406	81	270	-60	complete
KEAC038	371189	6622396	78	270	-60	complete
KEAC039	371268	6622406	78	270	-60	complete
KEAC040	371353	6622400	85	270	-60	complete
KEAC041	371428	6622398	76	270	-60	complete
KEAC042	371497	6622400	114	270	-60	complete
KEAC043	371579	6622406	86	270	-60	complete
KEAC044	371657	6622404	81	270	-60	complete
KEAC045	370699	6621996	85	270	-60	complete
KEAC046	370782	6622008	53	270	-60	complete
KEAC047	370863	6621996	93	270	-60	complete
KEAC048	370935	6622001	67	270	-60	complete
KEAC049	371092	6622009	81	270	-60	complete
KEAC050	371187	6622008	34	270	-60	complete
KEAC051	371257	6621997	77	270	-60	complete
KEAC052	371009	6621998	82	270	-60	complete
KEAC053	371341	6622002	73	270	-60	complete
KEAC054	371421	6621998	81	270	-60	complete
KEAC055	371504	6622001	88	270	-60	complete
KEAC056	371581	6622002	72	270	-60	complete
KEAC057	371658	6621997	94	270	-60	complete

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KEAC058	370705	6621600	82	270	-60	complete
KEAC059	370783	6621596	109	270	-60	complete
KEAC060	370860	6621594	112	270	-60	complete
KEAC061	370942	6621595	101	270	-60	complete
KEAC062	371027	6621599	32	270	-60	complete
KEAC063	371102	6621602	29	270	-60	complete
KEAC064	371181	6621595	69	270	-60	complete
KEAC065	371250	6621600	72	270	-60	complete
KEAC066	373200	6620400	61	270	-60	complete
KEAC067	373518	6620445	68	270	-60	complete
KEAC068	373599	6620448	57	270	-60	complete
KEAC069	373678	6620449	81	270	-60	complete
KEAC070	373759	6620446	87	270	-60	complete
KEAC071	373838	6620447	37	270	-60	complete
KEAC072	373918	6620448	22	270	-60	complete
KEAC073	373997	6620449	20	270	-60	complete
KEAC074	373520	6620196	35	270	-60	complete
KEAC075	373597	6620199	47	270	-60	complete
KEAC076	373659	6620195	45	270	-60	complete
KEAC077	373757	6620199	81	270	-60	complete
KEAC078	373108	6619603	43	270	-60	complete
KEAC079	373184	6619600	43	270	-60	complete
KEAC080	373263	6619599	38	270	-60	complete
KEAC081	373340	6619597	25	270	-60	complete
KEAC082	373419	6619598	28	270	-60	complete
KEAC083	373502	6619602	60	270	-60	complete
KEAC084	373580	6619599	44	270	-60	complete
KEAC085	373661	6619599	25	270	-60	complete
KEAC086	373750	6619599	37	270	-60	complete
KEAC087	373212	6619202	12	270	-60	complete
KEAC088	373283	6619199	13	270	-60	complete
KEAC089	373361	6619200	14	270	-60	complete
KEAC090	373443	6619199	8	270	-60	complete
KEAC091	373521	6619198	29	270	-60	complete
KEAC092	373602	6619199	16	270	-60	complete
KEAC093	373686	6619197	26	270	-60	complete
KEAC094	373762	6619200	48	270	-60	complete
KEAC095	372882	6618794	76	270	-60	complete
KEAC096	372007	6618805	41	270	-60	complete
KEAC097	372082	6618808	51	270	-60	complete
KEAC098	372160	6618803	88	270	-60	complete
KEAC099	372245	6618800	75	270	-60	complete

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KEAC100	372322	6618800	65	270	-60	complete
KEAC101	372399	6618801	66	270	-60	complete
KEAC102	372483	6618802	71	270	-60	complete
KEAC103	372564	6618801	76	270	-60	Assayspending
KEAC104	372641	6618801	74	270	-60	Assayspending
KEAC105	372718	6618802	69	270	-60	Assayspending
KEAC106	372802	6618804	82	270	-60	complete
KEAC107	372966	6618799	84	270	-60	complete
KEAC108	373040	6618796	88	270	-60	Assayspending
KEAC109	373100	6618801	38	270	-60	Assayspending
KEAC110	373201	6618804	4	270	-60	Assayspending
KEAC111	373278	6618801	36	270	-60	Assayspending
KEAC112	373365	6618801	16	270	-60	Assayspending
KEAC113	373440	6618803	47	270	-60	Assayspending
KEAC114	373518	6618799	81	270	-60	Assayspending
KEAC115	373602	6618801	17			Assayspending
KEAC116	373680	6618798	34	270	-60	Assayspending
KEAC117	373763	6618796	15	270	-60	Assayspending
KEAC118	373277	6621004	77	270	-60	Assayspending
KEAC119	373358	6621001	98	270	-60	Assayspending
KEAC120	373437	6620999	84	270	-60	Assayspending
KEAC121	373517	6621002	79	270	-60	Assayspending
KEAC122	373598	6621006	110	270	-60	Assayspending
KEAC123	373684	6621000	37	270	-60	Assayspending
KEAC124	373760	6621004	75	270	-60	Assayspending
KEAC125	373843	6621004	90	270	-60	Assayspending
KEAC126	373930	6620997	37	270	-60	Assayspending
KEAC127	372921	6620802	63	270	-60	complete
KEAC128	373001	6620801	86	270	-60	complete
KEAC129	373076	6620798	79	270	-60	complete
KEAC130	373158	6620810	33	270	-60	complete
KEAC131	373239	6620805	73	270	-60	complete
KEAC132	373321	6620806	36	270	-60	complete
KEAC133	373401	6620803	57	270	-60	complete
KEAC134	371336	6621599	60	270	-60	complete
KEAC135	371422	6621596	72	270	-60	Assayspending
KEAC136	371508	6621595	81	270	-60	Assayspending
KEAC137	371578	6621590	70	270	-60	Assayspending
KEAC138	371658	6621600	63	270	-60	Assayspending
KEAC139	371740	6621598	63	270	-60	Assayspending
KEAC140	370944	6621195	82	0	-90	Assayspending
KEAC141	371028	6621195	52	0	-90	Assayspending

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KEAC142	371099	6621193	81	0	-90	Assayspending
KEAC143	371179	6621202	81	0	-90	Assayspending
KEAC144	371264	6621196	52	0	-90	Assayspending
KEAC145	371342	6621199	56	0	-90	Assayspending
KEAC146	371427	6621198	31	0	-90	Assayspending
KEAC147	371493	6621200	59	0	-90	Assayspending
KEAC148	371593	6621202	52	0	-90	Assayspending
KEAC149	373117	6619201	24	0	-90	Assayspending
KEAC150	373038	6619204	27	0	-90	Assayspending
KEAC151	372959	6619201	38	0	-90	Assayspending
KEAC152	372878	6619203	61	0	-90	Assayspending
KEAC153	372803	6619210	58	0	-90	Assayspending
KEAC154	372725	6619208	74	0	-90	Assayspending
KEAC155	372637	6619198	67	0	-90	Assayspending
KEAC156	372560	6619206	54	0	-90	Assayspending
KEAC157	372477	6619203	78	0	-90	Assayspending
KEAC158	372397	6619203	84	0	-90	Assayspending
KEAC159	372319	6619201	79	0	-90	Assayspending
KEAC160	372238	6619199	79	0	-90	Assayspending
KEAC161	372120	6618802	45	270	-60	Assayspending
KEAC162	372194	6618798	79	270	-60	Assayspending
KEAC163	373019	6619602	55	0	-90	Assayspending
KEAC164	372941	6619603	65	0	-90	Assayspending
KEAC165	372854	6619605	64	0	-90	Assayspending
KEAC166	372767	6619596	53	0	-90	Assayspending
KEAC167	372701	6619604	65	0	-90	Assayspending
KEAC168	372623	6619595	61	0	-90	Assayspending
KEAC169	372781	6620000	63	0	-90	Assayspending
KEAC170	372856	6620002	54	0	-90	Assayspending
KEAC171	372939	6620003	26	0	-90	Assayspending
KEAC172	373020	6620001	65	0	-90	Assayspending
KEAC173	373098	6620001	67	0	-90	Assayspending
KEAC174	372882	6620201	66	0	-90	Assayspending
KEAC175	372759	6620402	57	0	-90	Assayspending
KEAC176	372826	6620519	70	0	-90	complete
KEAC177	372858	6620521	67	0	-90	complete
KEAC178	372898	6620520	63	0	-90	complete
KEAC179	372937	6620517	62	0	-90	complete
KEAC180	372890	6620600	66	0	-90	complete
KEAC181	372837	6620598	66	0	-90	complete
KEAC182	372823	6620683	70	0	-90	complete
KEAC183	372863	6620680	70	0	-90	complete

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KEAC184	372898	6620797	82	0	-90	Assayspending
KEAC185	372677	6620801	67	0	-90	Assayspending
KEAC186	372606	6620800	75	0	-90	Assayspending
KEAC187	372857	6620997	68	0	-90	Assayspending
KEAC188	372956	6621000	70	0	-90	Assayspending
KEAC189	371659	6620003	68	0	-90	Assayspending
KEAC190	371578	6619999	88	0	-90	Assayspending
KEAC191	371507	6620001	98	0	-90	Assayspending
KEAC192	371836	6620400	71	0	-90	Assayspending
KEAC193	371764	6620393	84	0	-90	Assayspending
KEAC194	371680	6620392	94	0	-90	Assayspending
KEAC195	371607	6620393	57	0	-90	Assayspending
KEAC196	371518	6620402	42	0	-90	Assayspending
KEAC197	371436	6620402	62	0	-90	Assayspending
KEAC198	371359	6620401	75	0	-90	Assayspending
KEAC199	371280	6620397	92	0	-90	Assayspending
KEAC200	371200	6620402	75	0	-90	Assayspending
KEAC201	371118	6620403	69	0	-90	Assayspending
KEAC202	371040	6620401	78	0	-90	Assayspending
KEAC203	370958	6620401	81	0	-90	Assayspending
KEAC204	370880	6620399	96	0	-90	Assayspending
KEAC205	370805	6620391	86	0	-90	Assayspending
KEAC206	370607	6620800	82	0	-90	Assayspending
KEAC207	370681	6620801	90	0	-90	Assayspending
KEAC208	370760	6620798	96	0	-90	Assayspending
KEAC209	370839	6620794	85	0	-90	Assayspending
KEAC210	370923	6620800	105	0	-90	Assayspending
KEAC211	370999	6620797	85	0	-90	Assayspending
KEAC212	371085	6620795	69	0	-90	Assayspending
KEAC213	371162	6620802	78	0	-90	Assayspending
KEAC214	371241	6620799	82	0	-90	Assayspending
KEAC215	371324	6620798	85	0	-90	Assayspending
KEAC216	371403	6620799	62	0	-90	Assayspending
KEAC217	371564	6620804	58	0	-90	Assayspending
KEAC218	371643	6620808	60	0	-90	Assayspending
KEAC219	371724	6620797	77	0	-90	Assayspending
KEAC220	371802	6620792	79	0	-90	Assayspending
KEAC221	371880	6620803	58	0	-90	Assayspending
KEAC222	371961	6620795	38	0	-90	Assayspending
KEAC223	372040	6620799	72	0	-90	Assayspending
KEAC224	370702	6621194	91	0	-90	Assayspending
KEAC225	370778	6621193	96	0	-90	Assayspending

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KEAC226	370863	6621201	109	0	-90	Assayspending
KEAC227	371044	6621601	96	0	-90	Assayspending
KEAC228	370742	6622002	90	0	-90	Assayspending
KEAC229	371140	6621995	96	0	-90	Assayspending
KEAC230	372451	6624016	59	0	-90	Assayspending
KEAC231	372552	6624012	50	0	-90	Assayspending
KEAC232	372649	6624004	51	0	-90	Assayspending
KEAC233	372752	6624012	64	0	-90	Assayspending
KEAC234	372856	6623998	59	0	-90	Assayspending
KEAC235	373351	6617752	1	270	-60	Assayspending
KEAC236	373399	6617752	3	270	-60	Assayspending
KEAC237	373407	6617755	3	270	-60	Assayspending
KEAC238	373447	6617754	21	270	-60	Assayspending
KEAC239	373500	6617752	6	270	-60	Assayspending
KEAC240	373548	6617750	6	270	-60	Assayspending

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About Metal Hawk Limited

Metal Hawk Limited is a Western Australian mineral exploration company focused on early-stage discovery of gold and nickel sulphides. Metal Hawk owns a number of quality projects in the Eastern Goldfields and the Albany Fraser regions.

Western Areas Limited (ASX: WSA) has an Earn-In and Joint Venture Agreement with Metal Hawk whereby WSA have the right to earn a 75% interest on three of MHKs projects; Kanowna East, Kanowna East and Fraser South by spending $7.0 million over 5 years. Metal Hawk is free carried to decision to mine and retains gold rights at Kanowna East and Kanowna East.

Chalice Gold Mines (ASX: CHN) has an Earn-in Agreement with Metal Hawk on the Viking Gold Project whereby CHN can earn up to 70% of the Viking Project by spending $2.75 million on exploration over 4.5 years.

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Figure 5. Metal Hawk project locations

14

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Competent Person statement

The information in this announcement that relates to Exploration Targets and Exploration Results is based on information compiled and reviewed by Mr William Belbin, a “Competent Person” who is a Member of the Australian Institute Geoscientists (AIG) and is Managing Director at Metal Hawk Limited. Mr Belbin is a full-time employee of the Company and hold shares and options in the Company. Mr Belbin has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Belbin consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Information on historical results is included in the Metal Hawk Prospectus dated 29th September 2020.

Forward‐Looking Statements

This document may include forward‐looking statements. Forward‐looking statements include, but are not limited to, statements concerning Metal Hawk Limited’s planned exploration program(s) and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may”, "potential," "should," and similar expressions are forward looking statements.

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2012 JORC Table 1

SECTION 1: SAMPLING TECHNIQUES AND DATA

JORC Code explanation

Commentary

	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	240 aircore (AC) holes were completed as part of this program. Hole depths ranged from 1m to 116m. Drill holes were angled at -60/270 and -90. Hole azimuths and dips are listed in Table 2. Drillhole locations were established by handheld GPS. Logging of drill samples included lithology, weathering, texture, moisture and contamination. Sampling protocols and QAQC are as per industry best practice procedures. AC drilling was sampled using a combination of composite sampling (2m – 6m) and single 1m sampling at end of hole. Samples were sent to Intertek Genalysis in Kalgoorlie, crushed to 10mm, dried and pulverized (total prep) in LM5 units to produce a sub-sample. The pulps were then sent to Perth for analysis via 50g Fire Assay with ICP-OES (Intertek code FA50/OE04) with a 5ppb lower detection limit.
Drilling techniques	Drill type (e.g. core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc).	AC drilling was used to obtain 1-metre samples that were passed through a cyclone and collected in a bucket which was then emptied on the ground.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed Measures taken to maximise sample recovery and ensure representative nature of the samples Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	The sample recovery was visually assessed and noted. The recovery was considered normal for this type of drilling. Samples were variably dry, damp and sometime wet. Sample condition was logged. All AC holes were drilled to blade refusal.

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Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged.	A qualified geologist logged all holes in full and supervised the sampling. Photographs were taken of all sample spoils.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled.	AC samples were collected using a cyclone attached to the drill rig. The sample material was emptied on the ground and a 400g-1000g sub- sample was taken from each one-metre interval using a sampling scoop. Sub-samples for consecutive metres within composite intervals were placed in a pre-numbered calico bag. Field QC involves the review of laboratory supplied certified reference material, in house controls, blanks, splits and duplicates. These QC results are reported by the laboratory with final assay results. No field duplicates were taken. All AC samples were analysed at a Perth laboratory Intertek Genalysis using Fire-Assay method FA50/OE04 Sample preparation included sorting, drying and pulverizing (85% passing 75 µm) in a LM5 steel mill. The sample sizes are considered more than adequate to ensure that there are no particle size effects.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	Samples were assayed for Au at Intertek Genalysis Laboratories, Perth, using 50g charge fire assay to 0.005ppm detection limit. No geophysical tools have been utilised for reporting gold mineralisation. Internal laboratory control procedures involve duplicate assaying of randomly selected assay pulps as well as internal laboratory standards. All of these data are reported to the Company and analysed for consistency and any discrepancies.

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Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data.	Senior personnel from the Company have visually inspected mineralisation in some of the samples. No aircore holes were twinned in the current program. Primary data was collected using a standard set of Excel templates on a Toughbook laptop computer in the field. These data are checked, validated and transferred to the company database No adjustments or calibrations have been made to any assay data.
Location of data points	Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control.	Drill hole locations have been established using a field GPS unit. The grid system is MGA_GDA94, zone 51 for easting, northing and RL. The topographic surface was generated from digital terrain models generated from low level airborne geophysical surveys.
Data spacing and distribution	Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied.	The drillhole spacing along lines are between 100m and 200m apart. The section spacings are a minimum of 400m Data from aircore drilling is not suitable for estimation of Mineral Resources. Sample compositing occurred over 2m to 6m intervals.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	Aircore drill holes were positioned so that drilling was essentially perpendicular to strike. No sampling bias is believed to have been introduced.
Sample security	The measures taken to ensure sample security.	Sample security is managed by the Company. After preparation in the field samples are packed into labelled polyweave bags and despatched to the laboratory. All samples were transported by the Company directly to the assay laboratory. The assay laboratory audits the samples on arrival and reports and discrepancies back to the Company.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	No review of the sampling techniques has been carried out.

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SECTION 2: REPORTING OF EXPLORATION RESULTS

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.	The drilling program was conducted on the Kanowna East project on licenses E27/596 and P27/2428. Both of these tenements are 100% owned by the Company.
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	The tenements are in good standing and no known impediments exist.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Historical exploration by other parties identified anomalous gold and nickel values in limited aircore drilling. Other early work also included aeromagnetic surveys and interpretation. For details of previous exploration on the project refer to the ITAR (Independent Technical Assessment Report) included in the Metal Hawk Prospectus dated 29thSeptember 2020.
Geology	Deposit type, geological setting and style of mineralisation.	The geological setting is of Archaean age with common host rocks and structures related to orogenic gold mineralisation as found throughout the Yilgarn Craton of Western Australia.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: • easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth • hole length.	Refer to drill results tables and the Notes attached thereto in the text as applicable.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated.	All reported assay intervals have been length- weighted. No top cuts were applied. A nominal cut- off of 0.01 g/t Au was applied with up to 2m of internal dilution allowed. No aggregate samples are reported. Significant grade intervals based on intercepts >100ppb gold. No metal equivalent values have been used or reported.

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Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	No definite relationships between mineralisation widths and intercept lengths are known from this drilling due to the highly weathered nature of the material sampled.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Refer to Figures in text.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	All significant intercepts and summary of drill hole assay information are presented in Table 1. in the body this announcement.
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	All meaningful and material information has been included in the body of this announcement.
Further work	The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive	Further work will be planned following further analysis and interpretation.

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