PATERSON RESOURCES LTD — Capital/Financing Update 2018

Feb 13, 2018

HARDEY RESOURCES LIMITED

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ASX ANNOUNCEMENT 14[th ] February 2018

BURRAGA UPDATE

Hardey Resources Limited (“Hardey” or “the Company”) (ASX: HDY) has this week sent Tom Langley, Exploration Manager, supported by the Company’s NSW based geologists to Burraga on a site visit in order to conduct further copper tailings data review and metallurgical testing.

The Company intends to renew its focus on the Burraga assets over the next two quarters. This renewed focus will involve further metallurgical testing and recommencement of the Burraga drilling programme the Company devised in 2017.

In addition to what was devised in 2017 for Burraga, the Company intends to increase the scope of the drilling programme and expedite the mobilisation of the drillers over the next two quarters. The Company still sees Burraga as its core asset and will maintain this focus. The Company is budgeting a 6 month spend of approximately $500,000-$1,000,000 on Burraga, dependant on site visit and other exploration results.

In light of this, the Company intends to undertake a capital raise in the region of $500,000 to $1,000,000 in the near future on terms to be determined in consultation with corporate advisors. This raising will ensure that the Company maintains a healthy cash balance and is able to finance the proposed upcoming exploration programs, together with pursuing other opportunities that may be presented to the Company from time to time.

For further information, please visit www.hardeyresources.com.au or contact:

Sarah Smith Tom Langley Company Secretary Exploration Manager +61 8 6559 1792 +61 431 020 984

ABOUT HARDEY RESOURCES:

Hardey Resources (ASX:HDY) is a publicly listed, junior mineral resources company focused on the exploration and development of gold and copper projects. The Company’s current operations include discovering Paleo-placer Witwatersrand style mineralisation in the Pilbara region of Western Australia. The Pilbara conglomerate-hosted gold projects consist of three exploration licences (E47/3578, E47/3827, and E45/5020). Hardey has aggregated a diversified portfolio of assets that are at multiple stages, commodities and jurisdictions. The Grace Gold Project located in the world class Paterson mineral province in Western Australia consists of one granted exploration licence and five granted prospecting licences (E45/4524, P45/2905, P45/2906, P45/2907, P45/2908, and P45/2909) with additional applications pending (E45/5130, E45/5131, E45/5132). The Burraga Copper-Gold Project, located in the world class minerals province of the East Lachlan Fold Belt in central western New South Wales consists of three contiguous exploration licences (EL6463, EL6874 and EL7975) and one exploration licence application (EL5454) covering a total area of

ASX Announcement 14[th] February 2018

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approximately 221km². Hardey is an active explorer with the aim of discovering a valuable mineral resource and delivering shareholder value. The Company also seeks to pursue other value accretive project opportunities.

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www.hardeyresources.com.au