18 October 2016

Hastings Technology Metals Limited ABN 43 122 911 399

ASX Code: Shares ‐ HAS

Level 25, 31 Market Street

Sydney NSW 2000

PO Box Q128 Queen Victoria Building NSW 1220 Australia

Telephone: +61 2 8268 8689

Facsimile: +61 2 8268 8699 [email protected]

Board

Charles Lew (Executive Chairman) Anthony Ho (Non‐Exec Director) Malcolm Mason (Non‐Exec Director)

Jean Claude Steinmetz (Non‐Exec Director)

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www.hastingstechmetals.com

YANGIBANA AIRBORNE SURVEY IDENTIFIES SIGNIFICANT ADDITIONAL RARE EARTHS TARGETS

HIGHLIGHTS

• Detailed independent report by Southern Geoscience identifies significant targets for rare earths mineralisation based on the recent geophysical (aeromagnetic and radiometric) survey.

• 108 individual targets summarised within 22 priority areas/zones, many untested.

• Initial follow up at Fraser's Southwest has intersected mineralisation over widths as predicted from the survey.

• Auer North prospect successfully drill‐tested through cover with mineralisation intersected over 2km of strikelength indicating immediate success of the geophysical survey.

INTRODUCTION

Hastings Technology Metals Limited (ASX:HAS) has received the final report of the interpretation of the recent high‐resolution (30m height and 25m flight line spacing) airborne magnetic and radiometric survey over the Yangibana Project, in the Gascoyne Province of Western Australia.

Southern Geoscience Consultants Pty Limited (SGC) undertook a litho‐structural interpretation of aeromagnetic and radiometric data to identify rare earths targets. The neodymium‐rich Fraser's Southwest area was identified for particular attention based on Hastings' earlier mapping and sampling.

The high quality, detailed survey data has delineated rare earths‐ bearing vein targets and structural sites that control mineralisation.

The radiometric data (Figure 1) were used to identify thorium anomalies, likely mapping monazite‐bearing ferrocarbonatite veins.

Address Level 25, 31 Market St, Sydney NSW 2000 Postal Address PO Box Q128 Queen Victoria Building NSW 1230

Telephone 02 8268 8689 Fax 02 8268 8699 Email [email protected] Website

www.hastingstechmetals.com ABN 43 122 911 399

The magnetic data (Figure 2) were used to map structures such as faults and shear zones that may control the ferrocarbonatite veins, along with the lithological units and contacts.

A total of 108 thorium anomalies were identified, summarised as 22 priority areas of significant exploration interest. These priority areas include the mineralised areas that have been tested to date, establishing the quality of the data and providing confidence in the new targets generated. Eleven areas were identified that have received only limited testing to date.

The Fraser's Southwest area (Figure 3) is one of the priority areas identified in the report. Previous mapping and rock chip sampling has identified a number of ironstone‐ and phoscorite‐hosted rare earths prospects in this area. The SGC report has expanded on the potential of the area by identifying targets in areas on no outcrop. In particular the Auer prospect has been extended by some 2km to the north under cover.

Figure 1 - Yangibana Project - Thorium radiometric image

Figure 2 - Yangibana Project - Aeromagnetic image reduced to pole (RTP)

Figure 3 - Yangibana Project, Fraser's Southwest Prospects

Subsequent drilling has now tested this Auer North prospect, intersecting significant widths of mineralisation. Assays are awaited.

INTERPRETATION

SGC completed an initial phase of targeting and interpretation over the Yangibana aeromagnetic‐radiometric survey area. This work primarily consisted of identifying thorium anomalies associated with rare earths‐bearing ferrocarbonatite dykes, along with any associated or discrete magnetic anomalies.

Litho‐structural domains were delineated based on their magnetic response (texture and amplitude), and structural fabric, supplemented by reference to the Geological Survey of Western Australia's Edmund 1:100,000 scale geology map.

SGC's detailed aeromagnetic data interpretation map indicates a geologically‐ and structurally‐complex area (Figure 4).

This complexity provides numerous structural sites that can potentially host mineralisation associated with the multi‐phase intrusive events that have occurred in the area. The known rare earths prospects are located along major structural boundaries, folded and faulted contact zones, or in other structurally favourable areas. By combining this structural data with the radiometric data, SGC has identified 22 significant areas of exploration interest (Figure 4). Eleven of the identified areas are relatively untested.

Figure 4 - Yangibana project, interpreted geology and targets identified