Quarterly Activities/Appendix 5B Cash Flow Report

• Visible copper mineralisation intersected in Cactus Corridor drill holes
• Binding agreement to earn up to 80% of Meerkat Copper Project in Arizona
• Meerkat has a classic porphyry copper signature with historical high-grade mining

Hawk Resources Limited (ASX: HWK) has reported on its activities for the quarter ending 31 March 2026. Drilling at the Cactus copper-gold project intersected strong visible copper mineralisation in the Cactus Corridor, with spot pXRF assays ranging up to 37.3% copper. The company also executed a binding agreement to acquire an option to earn up to 80% of the Meerkat Copper Project located in southern Arizona, USA. Meerkat lies in the Laramide Arc, which contains multiple world-class copper mines, and has a classic porphyry copper signature with a large circular magnetic anomaly. Historical mining at the site reported grades of 7-8% copper and 1% molybdenum. Hawk has the option to acquire 80% of the Meerkat project by meeting various milestones, including announcing economic copper-equivalent drill intersections, a mineral resource estimate, and completing a definitive feasibility study. The company also provided updates on its Olympus scandium project in Western Australia and the Detroit sediment-hosted gold project in Utah.