• Hawsons raises $2.2 million through a share placement at $0.016 per share
• Placement participants will receive one free attaching option per share, exercisable at $0.028 with an expiry date of 6 February 2029
• Funds will be used to enhance the Hawson Iron Project economics, reduce development risk, and support the final Feasibility Study

Hawsons Iron Limited (Hawsons or the Company) has received firm commitments to raise $2.2 million (before costs) at $0.016 per share. Placement participants will receive one free attaching option per share subscribed for, exercisable at $0.028 with an expiry date of 6 February 2029. The placement received strong demand from new (including an international investor who 'cornerstoned' the Placement), existing sophisticated and professional investors, with the Board committing $180k to support the placement, reinforcing confidence and alignment. Ignite Equity acted as Lead Manager to the Placement. The Placement will fund targeted initiatives aimed at enhancing the Hawson Iron Project (Project) economics, reducing development risk and supporting an efficient transition toward the final Feasibility Study. The funds will be used for works and studies to determine the financial viability of producing a non-magnetic iron byproduct, optimisation and financial analysis of process waste handling processes, metallurgical and other processing test work, environmental and heritage works, and other preliminary works for the Feasibility Study. The Board expects this will be the last capital raise prior to undertaking the final Feasibility Study, and the Placement proceeds will enable the Company to complete several areas of work with potentially very significant positive impacts on the Project's economics.

The Board has not sought to progress negotiations with strategic investors until the economic impact of the above opportunities was better understood. With the Placement funds, the Company can now complete these work areas, renew negotiations with strategic investors and undertake other selective work prior to seeking funding for and commencing the final Feasibility Study.