Ann: Appendix 3Z Final Director's Interest Notice, page-2

Interesting time line to lapse for Mr Parker, oh to be able to ask him what he thinks his chances are of being able to exercise the final 2 million

1,100,000 – HIO Ordinary Shares
1,000,000 – HIO Options at .25c exercise price
vesting on Completion of the Bankable Feasibility
Study.
1,000,000 – HIO Options at .35c exercise price
vesting on raising of the capital cost, by the
Company, to develop the Hawsons Iron Project.
2,000,000 – HIO Options at .50c exercise price
vesting on commencement of commercial
production at the Hawsons Iron Project.
Note: The Options will lapse 24 months after the
date Jon Parker ceased to be a director.