Hawsons Iron : Chairman's Address to Shareholders

only	HAWSONS IRON: COMPANY UPDATE
November 16, 2021
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The Companies Officer
Australian Securities Exchange Ltd
20 Bridge Street
SYDNEY NSW 2000
Dear Madam or Sir
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PRESENTATION - ANNUAL GENERAL MEETING 2021

Hawsons Iron Ltd (ASX: HIO) advises that Executive Chairman, Bryan Granzien is addressing shareholders at the Annual General Meeting (AGM) at 11am AEST today.

The AGM will be webcast at https://agmlive.link/HIO21and a copy of the presentation is attached.

Yours sincerely

Hawsons Iron Ltd

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Investor Contact	Media Contact
Greg Khan	Kerry Bailey
E: [e-mail]	[e-mail]
P: + 61 (0) 7 3220 2022	P: [phone]
Authorised by Greg Khan Company Secretary
Released by authority of the Board
Hawsons Iron Limited

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HAWSONS IRON LIMITED

ANNUAL GENERAL MEETING

OF SHAREHOLDERS

Tuesday, 16 November 2021 at 11:00am

CHAIRMAN'S ADDRESS:

Company Update by Executive Chairman, Mr Bryan Granzien

Hawsons Iron is an emerging producer of low cost, premium quality iron ore.

Today I look forward to sharing highlights of last financial year, the achievements to date in FY 22, our unique project, and the outlook for your company.

FY21 Overview and Highlights

During FY 21, the Company's focus was on consolidating the Hawsons Iron Project ownership structure following shareholder approval at the last AGM. Hawsons now holds approx. 94% of the Hawsons Iron Project.

Further, the Board was restructured and stabilised under my stewardship as Executive Chairman and the Board skillset and experience enhanced with highly qualified non- Executive Director Jon Parker joining the Board.

Through these changes the path has been cleared to execute our Strategic Plan.

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FY22 Highlights

Moving to Q1 22, The Hawsons Iron Project Bankable Feasibility Study (BFS) was fully funded through a fully underwritten recent capital raise of $35.6million (before costs). This has delivered the financial resources to undertake the BFS which is targeted for completion in December 2022.

We also took the opportunity to refocus and reinvigorate the company with a new brand: Hawsons Iron. Its fresh green colour palette signifies the "Green Steel" space in which we operate. We now have the platform to significantly enhance our profile and tell the Hawsons' story.

In this financial year, post Q1, we were pleased to announce the Mineral Resource Upgrade for the project.

The upgrade included a 9% increase in the indicated resources and an 18% increase in the inferred resources.

At the same time, the Mining Study Findings confirmed the outer boundary of the total resource hasn't yet been fully identified and that the economic pit shell is significantly larger than the one that was used in the Prefeasibility Study 2017.

The life of mine tonnages will therefore increase further with the planned resource extension drilling.

This is excellent news for the project.

What Makes the Hawsons Iron Project Unique?

During the BFS we have the opportunity to showcase the Hawsons Iron Project.

The story of the project has not been fully told, but the time is now right to shine a light on its unique attributes.

HAWSONS IRON LIMITED

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World-Leading Project

Firstly, leading research firm Wood Mackenzie in Q2 FY2019 rated the project one of the world's best high-grade iron ore development projects - excluding replacement or expansion projects owned by the established miners.

Economically Viable

Secondly, our project is economically viable, able to withstand the vagaries and volatility of the iron ore price cycle. We have modelled our project at various iron ore price points.

Purest, High Iron Product

Our product is the purest, high iron content product for quality steel-making. With 70% iron content it really is Supergrade® quality. No-one else in the world has that.

Our Hawsons Supergrade® Product will attract a premium price. While the price may fluctuate, the premium will remain.

Category Creator: Soft Ore

Importantly, not all ores are created equal. We are very fortunate to own this unique orebody. It is unique due to how it was formed and its 'soft' characteristics.

Thousands of years ago when the Hawsons orebody was formed, it was deposited in a soft siltstone - a fine grained silt in the sea.

The Pilbara orebodies by comparison were deposited in silica which is a glass-like rock called "chert" which is very hard.

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Subjected to low grade metamorphosis - or heat and pressure - the Hawsons' orebody has, over time, converted its clays within to silicate minerals without hardening the rock.

So technically speaking, the siltstone will break around the grain boundaries, rather than through the magnetite mineral grains.

And when it is crushed it "liberates" or "fractures" along the grain boundaries.

When crushed and ground to 40 microns, the magnetite is observed in its crystalline state.

This is unusual in a processed magnetite concentrate.

There are some clear advantages that come from the softness of the orebody and these inherent characteristics.

Number 1: significantly lower energy is required to crush and grind the ore to extract the magnetite concentrate.

Number 2: A higher grade of magnetite can be achieved because the ore breaks cleanly around the grain boundaries, easily separating from impurities.

Number 3: Less water is consumed during processing due to the 'dryer' nature of our product. With an absence of clay in the orebody, it is easier to recover and recycle water used in processing and slurry transport.

The origins and characteristics of the Hawsons orebody really do put it in a category of its own and quite distinct from 'hard rock' magnetite orebodies.

ESG and Green Steel Leader

We also have the opportunity, through our unique orebody, to lead the way with lowest energy usage and CO2 emissions in the iron-making process.