Yangibana JORC Ore Reserves

Snowden Mining Industry Consultants has completed pit optimisations, mine design and mine scheduling that has established the ore reserves as show in the table below (January 2019):

DepositTonnesTREONd2O3+Pr6O11
%%
Bald Hill4,405,0001.020.41
Fraser’s638,0001.610.68
Auer728,0001.120.41
Auer North148,0001.240.47
Yangibana986,0000.930.44
Yangibana West1,478,0001.230.34
Yangibana North1,964,0001.720.44
Total10,345,0001.220.43

Probable Ore Reserves within tenements held 100% by Hastings are shown in the table below:

DepositTonnesTREONd2O3+Pr6O11
%%
Bald Hill4,405,0001.020.41
Fraser’s638,0001.610.68
Auer728,0001.120.41
Auer North148,0001.240.47
Yangibana876,0000.970.46
Yangibana West1,478,0001.230.34
Total8,273,0001.110.42

Probable Ore Reserves within tenements held 70% by Hastings are shown in the table below:

DepositTonnesTREONd2O3+Pr6O11
%%
Yangibana110,0000.600.28
Yangibana North1,964,0001.720.44
Total2,074,0001.660.43

These Ore Reserves are derived from the JORC Resources reported below:

Yangibana JORC Resource

Hastings has completed eight phases of drilling at Yangibana with 80,000m drilled in 1,500 holes. Based on results from this drilling independent consultant Widenbar and Associates has estimated the resources as shown in the table below (November 2018).

CategoryTonnesTREONd2O3+Pr6O11
%%
Measured4,727,0001.170.42
Indicated8,652,0001.240.41
Inferred8,294,0001.090.36
Total21,673,0001.170.39

These resources are derived from the following deposits:

Bald Hill M09/157 and M09/162 (Hastings 100%)

CategoryTonnesTREONd2O3+Pr6O11
%%
Measured3,345,0000.990.40
Indicated1,419,0001.050.41
Inferred1,487,0000.900.34
Total6,251,0000.980.39

Fraser’s M09/158 (Hastings 100%)

CategoryTonnesTREONd2O3+Pr6O11
%%
Measured398,0001.550.66
Indicated407,0001.530.65
Inferred670,0000.710.30
Total1,475,0001.170.49

Auer E09/1989 (Hastings 100%)

CategoryTonnesTREONd2O3+Pr6O11
%%
Indicated1,004,0001.090.39
Inferred1,000,0001.090.37
Total2,004,0001.090.38

Auer North E09/1989 and E09/1700 (Hastings 100%)

CategoryTonnesTREONd2O3+Pr6O11
%%
Indicated462,0001.090.37
Inferred220,0000.920.29
Total682,0001.030.35

Yangibana M09/165 (Hastings 100%)

CategoryTonnesTREONd2O3+Pr6O11
%%
Indicated1,184,0000.890.42
Inferred716,0000.870.41
Total1,900,0000.880.42

Yangibana West M09/160 (Hastings 100%)

CategoryTonnesTREONd2O3+Pr6O11
%%
Measured114,0001.580.45
Indicated1,665,0001.240.34
Inferred758,0001.340.35
Total2,536,0001.290.35

Simon’s Find M09/159 and E09/1943 (Hastings 100%)

CategoryTonnesTREONd2O3+Pr6O11
%%
Indicated454,0000.640.35
Inferred855,0000.670.35
Total1,309,0000.660.35

Yangibana North M09/159 (Hastings 70%)

CategoryTonnesTREONd2O3+Pr6O11
%%
Measured871,0001.640.43
Indicated1,924,0001.840.47
Inferred632,0001.850.47
Total3,427,0001.790.46

Yangibana M09/163 (Hastings 70%)

CategoryTonnesTREONd2O3+Pr6O11
%%
Indicated134,0000.570.27
Inferred135,0000.510.24
Total269,0000.540.25

Others M09/159 (Hastings 70%)

InferredTonnesTREONd2O3+Pr6O11
%%
Gossan289,0001.520.33
Lion’s Ear710,0001.540.39
Hook289,0001.520.33
Kane’s Gossan574,0001.040.29

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