Hastings Technology Metals : Major Resource Upgrade at Yangibana Neodymium Project

17 January 2017

Hastings Technology Metals Limited ABN 43 122 911 399

ASX Code: Shares - HAS

Level 25, 31 Market Street

Sydney NSW 2000

PO Box Q128 Queen Victoria Building NSW 1220 Australia

Telephone: [phone]

Facsimile: [phone] [e-mail]

Board

Charles Lew (Executive Chairman) Anthony Ho (Non-Exec Director) Malcolm Mason (Non-Exec Director)

Jean Claude Steinmetz (Non-Exec Director)

.

www.hastingstechmetals.com

HIGHLIGHTS

MAJOR RESOURCE UPGRADE AT YANGIBANA NEODYMIUM PROJECT

• Updated resource estimate includes the first Measured Resources* for the Yangibana Project.

• Total diluted resources are 13.4 million tonnes at 1.18% total rare earths oxides (TREO) including 0.39% neodymium plus praseodymiumoxides (Nd2O 3+Pr2O3).

• This represents a 19% increase in contained TREO compared with the October 2015 resource estimate.

• New figures show a 22% increase in contained Nd2O3+Pr2O3, used in the high-growth permanent magnets industry, compared with previous estimate.

*Measured Resources are the highest category of resource classification, where the details of the mineralisation are so well established that the resources can be estimated with sufficient confidence to support production planning and the economic viability of the deposit.

INTRODUCTION

The Directors of Hastings Technology Metals Limited are pleased to announce updated JORC resource estimates for the Yangibana Project following the Company's successful infill and expansion drilling programmes during 2016.

JORC resource estimates were undertaken by independent consultant Lynn Widenbar, Principal of Widenbar and Associates, and include the first Measured Resources to be estimated for the project following the infill programme at Bald Hill and Fraser's.

Address Suite 506, Level 5, 50 Clarence St, Sydney NSW 2000 Postal Address PO Box Q128 Queen Victoria Building NSW 1230

Telephone [phone] Fax [phone] Email [e-mail] Website

www.hastingstechmetals.com ABN 43 122 911 399

December 2016 JORC Resources

The new total diluted resources: -

Category	Tonnes	Nd2O3+Pr2O3	TREO	Nd2O3	Pr2O3
%	%	ppm	ppm
Measured	2,155,000	0.42	1.01	3,410	770
Indicated	5,446,000	0.41	1.30	3,260	870
Inferred	5,807,000	0.36	1.12	2,820	770
TOTAL	13,408,000	0.39	1.18	3,100	810

Note - Rounding discrepancies will appear in all tables

These resources occur in a number of deposits as shown in Figure 1. The resources incorporate dilution based on 0.5m beyond both the footwall and the hangingwall to the mineralisation. Average dilution over the total resources is 30%.

Figure 1 - Yangibana Project. Location of Rare Earths Deposits

Of the total resources Hastings holds a 100% interest in the following resources: -

Category	Tonnes	Nd2O3+Pr2O3	TREO	Nd2O3	Pr2O3
%	%	ppm	ppm
Measured	2,155,000	0.42	1.01	3,410	770
Indicated	3,221,000	0.41	1.13	3,300	820
Inferred	3,416,000	0.36	0.98	2,890	740
TOTAL	8,792,000	0.39	1.04	3,200	780

and a 70% interest in the following resources:-

Category	Tonnes	Nd2O3+Pr2O3	TREO	Nd2O3	Pr2O3
%	%	ppm	ppm
Indicated	2,225,000	0.42	1.55	3,200	940
Inferred	2,391,000	0.35	1.32	2,730	810
TOTAL	4,616,000	0.38	1.43	2,960	870

The(Nd2O3+Pr2O3)to TREO ratio varies from an average of 42% within tenements in which Hastings holds 100% to an average of 27% within tenements in which it holds a 70% interest.

The total resources comprise the following deposits that will be assessed as future mining areas during the Definitive Feasibility Study process.

Eastern Belt - 100% Hastings

The following deposits are within the Eastern Belt and are held 100% by Hastings.

Bald Hill and Bald Hill Southeast

Category	Tonnes	Nd2O3+Pr2O3	TREO	Nd2O3	Pr2O3
%	%	ppm	ppm
Measured	1,899,000	0.38	0.93	3,130	690
Indicated	1,337,000	0.37	0.90	3,040	680
Inferred	825,000	0.32	0.80	2,600	600
TOTAL	4,061,000	0.37	0.89	2990	670

Fraser's

Category	Tonnes	Nd2O3+Pr2O3	TREO	Nd2O3	Pr2O3
%	%	ppm	ppm
Measured	255,000	0.69	1.55	5,490	1,370
Indicated	510,000	0.74	1.72	5,900	1,490
Inferred	464,000	0.57	1.35	4,550	1,150
TOTAL	1,229,000	0.66	1.55	5,310	1,340

Fraser's North and Southwest

Category	Tonnes	Nd2O3+Pr2O3	TREO	Nd2O3	Pr2O3
%	%	ppm	ppm
Inferred	406,000	0.24	0.58	1,960	480
TOTAL	406,000	0.24	0.58	1,960	480

Auer and Auer North

Category	Tonnes	Nd2O3+Pr2O3	TREO	Nd2O3	Pr2O3
%	%	ppm	ppm
Indicated	99,000	0.42	1.10	3,280	890
Inferred	1,295,000	0.37	1.03	2,910	780
TOTAL	1,394,000	0.37	1.03	2,930	790

Eastern Belt - 70% Hastings

Bald Hill North

Category	Tonnes	Nd2O3+Pr2O3	TREO	Nd2O3	Pr2O3
%	%	ppm	ppm
Indicated	123,000	0.43	1.00	3,540	750
Inferred	194,000	0.39	0.96	3,150	720
TOTAL	316,000	0.40	0.97	3,300	730

Western Belt - 100% Hastings

The Yangibana West deposit lies at the western end of the Western Belt and is held 100% by Hastings.

Yangibana West

Category	Tonnes	Nd2O3+Pr2O3	TREO	Nd2O3	Pr2O3
%	%	ppm	ppm
Indicated	1,275,000	0.32	1.15	2,530	690
Inferred	427,000	0.32	1.17	2,490	700
TOTAL	1,702,000	0.32	1.15	2,520	700

Western Belt - 70% Hastings

The Yangibana North deposit occurs within the Western Belt, being contiguous with Yangibana West, and Hastings holds a 70% interest in this deposit.

Yangibana North

Category	Tonnes	Nd2O3+Pr2O3	TREO	Nd2O3	Pr2O3
%	%	ppm	ppm
Indicated	2,102,000	0.42	1.58	3,200	960
Inferred	377,000	0.40	1.48	3,090	910
TOTAL	2,480,000	0.41	1.57	3,180	950