Ann: Resource Definition Drilling to Commence at Yangibana, page-30

Hi,

As most of you will already know, FNT's 100% owned Gascoyne REE Project, accordingly, their Lyons and Edmund tenements, basically form “bookends” to HAS’s Yangibana Rare Earths Project (see below).

If FNT do make a major discovery at either or both of their tenements (initial rock samples indicate that they will), I would like to know if anybody here on this forum feels that HAS would be inclined to acquire FNT’s tenements.

I ask this question, as I believe that it would not really make very much sense for FNT to set up their own mine and processing facility right next door to HAS’s Yangibana Rare Earths Project (which is likely to be up and running in the next couple of years).

For HAS, the obvious advantage of acquiring FNT’s tenements (of course only after FNThave done extensive sampling and drilling etc. and thus established JORC “inferred”resource estimates), would be that HAS would considerably extend the life of their Yangibana Rare Earths Project.

Many thanks in advance of your thoughts and assistance.

Cheers.