Hammer Metals Ltd (HMX) – ASX Release

Jubilee Metallurgy Study obtains outstanding +98% Copper recovery to concentrate

Hammer Metals Limited is pleased to report the results of the first metallurgical program for the Jubilee Cu-Au Prospect. Jubilee is located within the Mt Frosty Joint Venture between Hammer Metals Limited (51% and operator) and Mount Isa Mines Limited (49%).

The recently completed diamond drilling programme obtained significant results including 5.5 metres at 14.5g/t Au and 6.87% Cu from 74 metres within 14 metres at 5.93g/t Au and 2.19% Cu from 66 metres in HJDD003. (Refer to ASX release dated August 27th 2018).

Testwork was conducted on a single composite sample sourced from the three recently completed diamond drillholes (HJDD001, HJDD002 and HJDD003). Optimum grind and reagent settings were obtained in Test 3 which resulted in a peak copper recovery of 98% and gold recovery of 80% to a copper concentrate.

The maiden Mineral Resource Estimate for Jubilee is underway. It is anticipated the results will be released later in the quarter.

The information contained has been prepared by third parties. No warranty of accuracy or reliability is given in relation to any advice or information contained in this document and no responsibility for any loss or damage whatsoever arising in any way for any representation, act or omission, whether express or implied (including responsibility to any persons by reason of negligence), is given by DJ Carmichael Pty Limited or any officer, agent or employee of DJ Carmichael Pty Limited.