• Agreement for Mineral Exploration executed with Ngaanyatjarra Native Title holders/Traditional Owners
• Olympus potentially hosts a new scandium province with a large 7km × 4km +500 ppm Sc soil anomaly
• Easy access logistics with a vehicle track running north-south through the project area

Hawk Resources Limited (ASX: HWK) has announced the successful execution of an Agreement for Mineral Exploration - Ngaanyatjarra Lands (AME) over the Olympus scandium project (Olympus) following an on-country meeting with Native Title holders and Traditional Owners. The AME has been reached following only three months of engagement with the Ngaanyatjarra Council (NG Council), which has been both proactive and supportive throughout the negotiation process. Hawk has already initiated the procedures to obtain consents from the Ministers for Indigenous Affairs and Mines & Petroleum of the Western Australia state government and to schedule a Cultural Heritage Survey to provide clearance for the exploration programme. The project area underwent a cultural survey ahead of past exploration in 2007. Subject to obtaining the Ministerial consents, it is anticipated that on-ground exploration will commence in June 2026. The Olympus project consists of two exploration licences E69/3987 and E69/3988 which cover approximately 309km2 and is located in the West Musgrave region of Western Australia, approximately 285km west of Yulara and 150km northeast of Warburton. Access to the project area is 6km along a turn off road to the south located 51km west of Warakurna Roadhouse along the Great Central Hwy. A review of pXRF analyses of soil, lag and RAB samples has identified a 4km x 7km scandium (Sc) soil anomaly with grades up to 1,284ppm Sc and peak RAB assays of 2,164ppm Sc over 1.0m sample intervals. The exploration was not targeting scandium, and consequently no RAB holes were drilled within the 4km x 7km soil anomaly. However, the four RAB lines intersected highly anomalous near surface scandium over 800m wide zones, with intersections ranging from 2m to 11m thick and grading from 300ppm to 948ppm Sc. The highest individual 1m sample graded 2,037ppm Sc.

Hawk's next steps at Olympus will include obtaining Ministerial consents, completing a Cultural Heritage Survey, carrying out due diligence soil sampling over the scandium anomaly, and subject to the results, conducting detailed soil sampling to delineate areas for drilling.