Hastings Rare Metals

SUMMARY

The Project is located 18km south-east of the Great Northern Highway at Halls Creek and 180km south of the Argyle Diamond Mine in the East Kimberley Region of Western Australia. The project site is accessed from the Great Northern Highway, which links Broome and Derby (450km from site) to Wyndham (380km from site), at Halls Creek (Figure 1). It contains large resources of the rare metals zirconium (Zr), niobium (Nb), tantalum (Ta), hafnium (Hf)and gallium (Ga), and potential to host significant resources of the heavy rare earth elements yttrium (Y), dysprosium (Dy), europium (Eu) and terbium (Tb).



The Project has estimated JORC compliant resources comprising indicated resources of 8.83 million tonnes (previously explored by Union Oil Development Corporation – now Molycorp Inc. (NYSE: MCP)) grading 0.76% ZrO2, 0.09% Y2O3, 0.31% Nb2O5 and 0.022% Ta2O5 from surface to 100m depth, and inferred resources of 13.25 million tonnes grading 0.81% ZrO2, 0.10% Y2O3, 0.32% Nb2O5 and 0.024% Ta2O5 from 100m to 250m depth. Systematic reverse circulation drilling and a number of diamond drill holes along the entire strike length of the deposit on 40-100 metre centres have been previously completed and provide a solid base on which the resource is estimated. Please refer Table 1 below.

David Nolan (Non-Executive Chairman)
Mr Nolan is a corporate lawyer with over 13 years experience advising on corporate acquisitions, capital raisings and financing for mining companies. Mr Nolan is a partner in the Sydney corporate advisory practice of Mills Oakley Lawyers and was previously a senior adviser at the London Stock Exchange. Mr Nolan holds a Bachelor of Laws (Hons) and Bachelor of Arts from Bond University in Queensland.

Anthony Ho (Non-Executive Director)
Mr Ho is an experienced company director having held executive directorships and chief financial officer roles with a number of publicly listed companies. Mr Ho was executive Director of Arthur Yates & Co Limited, retiring from that position in April 2002. His corporate and governance experience include being chief financial officer/finance Director of M.S. McLeod Holdings Limited, Galore Group Limited, the Edward H O'Brien group of companies and Volante Group Limited. Mr Ho is currently a non-executive Director of Dolomatrix International Limited where he chairs the Audit and Compliance Committee and a non-executive Director of Greenland Minerals and Energy Limited. He is also the non-executive Chairman of Apollo Minerals Limited. Mr Ho holds a Bachelor of Commerce degree from the University of New South Wales and is a member of the Institute of Chartered Accountants in Australia and a fellow of both the Chartered Institute of Company Secretaries and the Institute of Company Directors.

Mathew Walker (Executive Director)
Mr Walker has extensive experience in private and public company management and in the provision of corporate advice. Specialising in the natural resources sector, Mr Walker has served as executive Chairman or Managing Director for public companies with resource interests in North America, South America, Africa, Eastern Europe, Australia and Asia. He currently serves as Executive Chairman of Tango Petroleum Limited (ASX: TNP) and also a Director of boutique investment banking firm Alto Capital and Chairman of corporate advisory firm Cicero Corporate Services. Mr Walker is a member of the Australian Institute of Company Directors and holds a Bachelor of Business from the University of Technology, Sydney.

James Robinson (Non-Executive Director and Company Secretary)
Mr Robinson gained extensive capital markets experience during 10 years with one of Western Australia’s leading corporate advisory and stockbroking firms. He currently serves as a Director of Blue River Mining Limited, Company Secretary of Tango Petroleum Limited (ASX: TNP) and is also a Director of corporate advisory firm Cicero Corporate Services. He is a member of the Australian Institute of Company Directors and holds a Bachelor of Economics from the University of Western Australia.

Andy Border (Exploration Manager)
Mr Border is a geologist with over 30 years' experience in the exploration and mining industry covering a wide range of commodities and projects from grass-roots exploration through to development and mining.  In the last 20 years he has held roles including Exploration Manager, Chief Operating Officer and Managing Director of a number of ASX-listed companies with projects in Australia and overseas.

Simon Coxhell (Consultant Geologist)
Mr Coxhell is a geologist with 25 years of diverse experience encompassing all aspects of the resource sector including exploration, development and mining. He has specialist skills in computer mining and exploration skills and extensive operational experience in the Kimberley where he has evaluated and assessed numerous projects including gold, copper, iron ore, diamonds, vanadium and rare earths. Simon was formerly Executive Director of Navigator Resources and Venus Metals Corporation.

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