PATERSON RESOURCES LTD — Capital/Financing Update 2018

Jan 8, 2018

HARDEY RESOURCES LIMITED

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ASX: HDY ASX ANNOUNCEMENT

9 January 2018

HARDEY SIGNIFICANTLY INCREASES GROUND POSITION IN WORLD CLASS PATERSON PROVINCE

Highlights:

• Significant tenement applications covering 1,594km² in the Paterson Province to compliment the advanced Grace gold-copper project.

• Approval received for Programme of Works (PoW) at Bellary Gold Project and the Grace Gold-Copper Project.

• Detailed geological review and targeting in preparation of future exploration programmes at the Grace Gold-Copper Project underway.

• Reviewing further opportunities in the Pilbara region.

Matthew Bowles, Hardey Resources Non-Executive Director, commented:

“We are pleased to significantly increase our land position in the world class Paterson Region, which complements our Grace Gold-Copper Project.

With Rio Tinto recently applying for an additional 5,913km² combined with the increase in exploration by Newcrest, Encounter, Antipa and the recent listing of Carawine Resources whose tenements neighbour ours, we believe the Telfer District is set for an exciting 2018.

The approvals of both POW’s by the Department of Mines, Industry Regulation and Safety (DMIRS) at Bellary and Grace is a significant catalyst in progressing these important projects for the Company and I look forward to updating the market as the Hardey Resources story unfolds”.

Hardey Resources Limited (“Hardey” or “the Company”) (ASX: HDY) is pleased to announce the significant increase in prospective land holding of 1,594km² in the Western Australian Paterson Province. The recent applications complement the existing Grace gold-copper project which the company is currently reviewing for the upcoming 2018 exploration calendar year.

The world-class Paterson Province is known to host huge economic gold, copper and uranium deposits such as Newscrest’s Telfer gold-copper-silver mine and O’Callaghans tungsten-base metal deposit, Metals X’s Nifty copper mine and Cameco and Mitsubishi Development’s Kintyre uranium deposit. Hardey now has 100% ownership over a

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consolidated 1,651km² land package in the southern region of the Telfer District (refer to Figure 1 and Table 1).

PROGRAMME OF WORK APPROVAL

Both individual PoW’s lodged at the Bellary and Grace Projects have been approved by the Department of Mines, Industry Regulation and Safety (DMIRS). Further necessary approvals are required from the respective native title claimant groups at each project prior to the PoW work commencing. Upon gaining heritage clearance, work will begin via two (2) trenches at the locality where the six (6) gold nuggets were discovered at Bellary.

The Pow at Grace is in anticipation of a positive desktop review, which will allow the company to act quickly and begin drilling as soon as practical. In conjunction, the company have a heritage survey planned in March.

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Figure 1. Major tenement holders in the Telfer District, Western Australia.

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Table 1. Hardey Resources Tenure Status in Western Australia’s Telfer District.

Tenement ID	Status	Area km²	Hardey %
P45/2905	Granted	0.2	100%
P45/2906	Granted	0.2	100%
P45/2907	Granted	0.2	100%
P45/2908	Granted	0.2	100%
P45/2909	Granted	0.2	100%
E45/4524	Granted	57.6	100%
E45/5130	Pending	313.6	100%
E45/5131	Pending	640	100%
E45/5132	Pending	640	100%
	Total Area	1652.2 km²	100%

For further information, please contact:

Investors: Media: 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 key demand-driven commodities. The Company’s current focus is in 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-Copper 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 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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