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Confirmation Drilling at Mt Mulgine Hill Deposit

- Hazelwood is pleased to announce results from the recent confirmatory drilling undertaken at the Mt Mulgine Hill Deposit in the Mid-West of Western Australia (HAZ 70%, GBG 30%). The drilling has confirmed the presence of near surface, high grade tungsten mineralisation.

- The total JORC Mineral Resource for the Mulgine Hill Deposit, at a cut-off grade of 0.1% WO3 is 8.2 Mt @ 0.21% WO3. Of this, 76% is in the Indicated Resource category .

- The deposit is shallow, hosting 95% of the resource within 100 metres of the surface. More confirmatory drilling is proposed to better de-risk the resource. Studies to assess the development of Mulgine Hill as a source of feedstock are underway.

- Mulgine Hill is one of two known deposits of tungsten at the Mt Mulgine Project, located in the Mid-West region of Western Australia. Significant amounts of historical exploration and evaluation work had been undertaken on the project, including 22,000 metres of tungsten exploration drilling, and the sinking of shafts and underground drives for metallurgical testwork.

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