Hastings Technology Metals Ltd: Award of Two Significant Equipment Supply Packages

Sydney, Australia - Hastings Technology Metals Ltd. (ASX:HAS) ("Hastings" or "the Company") is pleased to announce that, through its wholly owned subsidiary Yangibana Pty Ltd, it has awarded two significant equipment supply packages.

- Design and Supply of Rotary Kiln Off Gas Scrubbing Plant awarded to Total Air Pollution Control Pty Ltd (TAPC)

- TAPC has significant experience building plants of a similar nature including work on other rare earth processing plants

- Gas Scrubbing Plant award allows significant additional engineering progress to be made to the Rotary Kiln package previously awarded to FLSmidth

- Design and Supply of SAG Mill awarded to Outotec Pty Ltd

- Outotec is a globally recognised supplier of engineering, equipment and service solutions

- Award of the SAG Mill ensures Hastings has another of the long lead packages procured for the Project

Introduction

The equipment supply contracts are as follows:

Design and Supply of Rotary Kiln Off Gas Scrubbing Plant awarded to Total Air Pollution Control Pty Ltd (TAPC)

Key features of the Agreement:

- Fixed price contract with staged commitments: stage 1 Design and stage 2 Manufacturing

- Mechanical and process guarantees for Off-Gas Scrubbing Plant performance from TAPC

- Delivery to site due Q3 2020 (subject to confirmation of commencement of phase 2)

The Off-Gas Scrubbing Plant is a critical and significant component of the processing plant and manages the treatment of the waste gas generated by the Acid Baked Rotary Kiln (previously awarded to FLSmidth) to ensure environmental emission compliance.

Award of the Off-Gas Scrubbing Plant facilitates both the progress of associated civil and structural design work as well as allowing commencement of the approvals associated with the Kiln/Scrubber system.

Following the tender process, TAPC was selected as the preferred tenderer and has worked with Hastings to refine the unique Off-Gas Scrubber Plant design requirements. TAPC brings significant experience in developing similar facilities and has access to the experience in the design, supply and commissioning of similar facilities for rare earth producers.

Design and Supply of SAG Mill awarded to Outotec Pty Ltd

Key features of the Agreement:

- Contract with staged commitments: stage 1 Design and stage 2 Manufacturing

- Mechanical and process guarantees for SAG Mill performance from Outotec

- Delivery to site due Q1 2020 (subject to confirmation of commencement of phase 2)

The SAG Mill is one of several long lead packages for the Project. Award of the package provides certainty to the schedule and allows further progress of the associated civil, mechanical and electrical design works.

Outotec is an internationally recognised company with a well-established presence in Perth and Western Australia.

"Awarding these equipment packages represents another significant milestone in the development of the Yangibana Project. Partnering with TAPC and Outotec fits with our commitment to select only Tier 1 equipment suppliers capable of delivering the required performance guarantees and ongoing local support, said its Executive Chairman, Charles Lew

TERMINOLOGY USED IN THIS REPORT

Total Rare Earths Oxides, TREO, is the sum of the oxides of the light rare earth elements lanthanum (La), cerium (Ce), praseodymium (Pr), neodymium (Nd), and samarium (Sm) and the heavy rare earth elements europium (Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium (Tm), ytterbium (Yb), lutetium (Lu), and yttrium (Y).

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About Hastings Technology Metals Ltd:

Hastings Technology Metals Ltd. (ASX:HAS) is a leading Australian rare earths company, with two rare earths projects hosting JORC-compliant resources in Western Australia.

- The Yangibana Project hosts Probable Reserves totaling 5.15 million tonnes at 1.12% TREO including 0.45% Nd2O3+Pr6O11 within JORC Resources totalling 21.0 million tonnes at 1.17% TREO (comprising Measured Resources of 3.9 million tonnes at 1.19% TREO, Indicated Resources of 8.6 million tonnes at 1.25% TREO and Inferred Resources of 8.4 million tonnes at 1.09% TREO), including 0.40% Nd2O3+Pr6O11.

- The Brockman deposit contains JORC Indicated and Inferred Resources totalling 41.4 million tonnes (comprising 32.3mt Indicated Resources and 9.1mt Inferred Resources) at 0.21% TREO, including 0.18% HREO, plus 0.36% Nb2O5 and 0.90% ZrO2.

- Rare earths are critical to a wide variety of current and new technologies, including smart phones, electric vehicles, wind turbines and energy efficient light bulbs.

- The Company aims to capitalise on the strong demand for rare earths permanent magnets created by expanding new technologies.

Source:

Hastings Technology Metals Ltd.

Contact:

Nick Holthouse General Manger Engineering and Operational Readiness T: +61-428-964-276