• Preliminary Feasibility Study (PFS) completed
• 2.3Bt Ore Reserves Estimate declared
• New appointments strengthen Hawsons' Board

During the quarter, Hawsons Iron Limited (Hawsons or the Company) completed the Preliminary Feasibility Study (PFS) and Maiden Ore Reserves on the Hawsons Iron Project (Project). The key outcomes of the PFS were: a 2.3Bt Ore Reserves Estimate declared, the PFS completed defining a robust project development strategy based on producing up to 12Mtpa of +68% Fe, magnetite concentrate with a Life of Mine of 26 years, and positive technical and financial outcomes supporting the development potential of the Project in the current iron price environment. The PFS results provide Hawsons the confidence to advance the Project towards a full Feasibility Study and also provide a clear road map of upside opportunities to pursue. In late November, Hawsons announced several changes to the Board of Directors, including the appointment of Meredith Campion as Non-Executive Director and Tom Revy as Managing Director. During the quarter, Hawsons also engaged in various community and stakeholder activities, including project updates with government officials and industry groups.