Other Projects

Anvil

In addition to the Blacksmith Project, Red Hawk holds retention licence R47/21 for the Anvil Project.

Anvil Mineral Resource Estimate

JORC Classification	Tonnes Mt	Fe %	SiO2 %	Al2O3 %	P %	LOI %
Inferred	176	47.1	21.3	6.05	0.044	4.13

Canegrass

The Canegrass Project (100% Red Hawk) is located approximately 60km south-east of Mt Magnet and 15km south-west of Atlantic Limited’s Windimurra Vanadium Project, in WA’s Mid-West. The tenement package comprises six granted exploration licences that are prospective predominantly for vanadium and titanium.

Farm-In Agreement with Viking Mines

Red Hawk has entered into a Farm-in Agreement (FIA) with Viking Critical Minerals Pty Ltd, a wholly owned subsidiary of Viking Mines Limited (ASX: VKA) for all minerals on the Canegrass tenements. Pursuant to the FIA, Red Hawk will also receive cash payments from Viking as each earn-in stage is completed. Ultimately Viking has the right, but not the obligation, to acquire Canegrass.

Red Hawk has chosen to pursue the FIA as it allows the Canegrass Project to be progressed directly by a third party, without diverting Red Hawk’s management time from the Blacksmith Project and associated business developments. The structure of the farm-in provides for Red Hawk to avoid the ongoing tenement holding costs and preserves Red Hawk’s balance sheet, whilst also allowing for staged cash payments that will benefit Red Hawk’s shareholders.

Further details regarding the Agreement can be found in the ASX Announcement dated 30 November 2022.

The current Project Mineral Resource Estimate is:

Canegrass Project Vanadium Mineral Resource estimate, 0.5% V₂O₅ cut-off grade, >210 m RL

Deposit	JORC Classification	Tonnes Mt	V2O5 %	TiO2 %	Fe %	AL2O3 %	P %	SiO2 %	LOI %
Fold Nose	Inferred	59	0.66	6.5	30.5	11.9	0.006	22.9	2.9
Kinks	Inferred	20	0.57	5.5	27.4	13.0	0.009	25.9	3.1
Total		79	0.64	6.0	29.7	12.2	0.007	23.6	3.0