ASX RELEASE only28 December 2021

DIRECTORS /

MANAGEMENT

Russell Davis

Chairman

useDaniel Thomas Managing Director

Ziggy Lubieniecki Non-Executive Director

David Church Non-Executive Director

Mark Pitts Company Secretary

Mark Whittle

Chief Operating Officer

CAPITAL STRUCTURE

ASX Code: HMX

Sha e Price (24/12/2021) $0.046

Shar s on Issue

815m

Mark t Cap

$37.5m

Options Unlisted

27m

Performance Rights

8m

personalFor

T (08) 6369 1195

E

ABN 87 095 092 158

P

CHANGE OF DIRECTORS' INTERESTS

Hammer Metals Ltd (ASX:HMX) ("Hammer" or the "Company") advises changes to Director's Interests as disclosed in the attached Appendix 3Y for Mr Thomas.

This announcement has been authorised for issue by Mr Mark Pitts, Company Secretary, Hammer Metals Limited.

For further information please contact:

Daniel Thomas

Managing Director

T +61 8 6369 1195

  1. info@hammermetals.com.au

- END -

About Hammer Metals

Hammer Metals Limited (ASX: HMX) holds a strategic tenement position covering approximately 2,200km2 within the Mount Isa mining district, with 100% interests in the Kalman (Cu-Au-Mo-Re) deposit, the Overlander North and Overlander South (Cu-Co) deposits and the Elaine (Cu-Au) deposit. Hammer also has a 51% interest in the emerging Jubilee (Cu-Au) deposit. Hammer is an active mineral explorer, focused on discovering large copper- gold deposits of Ernest Henry style and has a range of prospective targets at various stages of testing.

Hammer also has a 100% interest in the Bronzewing South Gold Project located adjacent to the 2.3 million-ounce Bronzewing gold deposit in the highly endowed Yandal Belt of Western Australia.

info@hammermetals.com.au

Unit 1, 28-30 Mayfair Street, West Perth, WA 6005

Appendix 3Y Change of Director's Interest Notice

Appendix 3Y

Rule 3.19A.2

For personal use only

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity

HAMMER METALS LTD

ABN

87 095 092 158

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director

Daniel Thomas

Date of last notice

9 November 2021

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest

Direct and Indirect

Nature of indirect interest

Mr Thomas is the spouse of the registered holder, Laura

(including registered holder)

Thomas

Note: Provide details of the circumstances giving rise to the

relevant interest.

Date of change

21 December 2021

  • See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 1

For personal use only

Appendix 3Y

Change of Director's Interest Notice

No. of securities held prior to change

Direct

Ordinary Shares

1,000,000 Ordinary Shares

Indirect - Laura Thomas

Ordinary Shares

1,500,000 Ordinary Shares

Unlisted options:

3,000,000 Unlisted options over ordinary shares

exercisable at $0.05 on or before 21 October 2023, vesting

on 21 October 2020.

4,000,000 Unlisted options over ordinary shares

exercisable at $0.06 on or before 21 October 2023, vesting

on 21 October 2021.

Performance Rights

750,000 Performance rights vesting on 21 October 2021

750,000 Performance rights vesting on 21 October 2021,

subject to a share price hurdle of $0.036 for a minimum of

30 days

5,000,000 Performance rights vesting on the satisfactory

completion of a transaction in accordance with terms

outlined in the Company's Notice of Annual General

Meeting dated 8 October 2019.

+ See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y

Change of Director's Interest Notice

Class

a) Ordinary Shares

only

b) Performance rights vesting on 21 October 2021

c) Performance rights vesting on 21 October 2021, subject

to a share price hurdle of $0.036 for a minimum of 30 days

d) Performance rights, expiring 21 December 2025, vesting

upon the Company announcing a new JORC 2012

compliant mineral resource estimate of 50,000 tonnes Cu

or equivalent KPI at the sole discretion of the Board

use

e) Performance rights, expiring 21 December 2025, vesting

upon the Company announcing a new JORC 2012

compliant mineral resource estimate of 100,000 tonnes Cu

or equivalent KPI at the sole discretion of the Board

f) Performance rights, expiring 21 December 2025, vesting

upon the Company announcing a new JORC 2012

personalFor

compliant mineral resource estimate of 200,000 tonnes

Cu or equivalent KPI at the sole discretion of the Board

Number acquired

a) 1,500,000

d) 1,000,000

e) 1,000,000

f) 1,000,000

Number disposed

b) 750,000

c) 750,000

Value/Consideration

a) Nil - received upon the exercise of performance rights

Note: If consideration is non-cash, provide details and estimated

b & c) Nil - performance rights exercised into ordinary

valuation

d, e & f) Nil - Long term incentive to Managing Director

  • See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 3

For personal use only

Appendix 3Y

Change of Director's Interest Notice

No. of securities held after change

Direct

Ordinary Shares

1,000,000 Ordinary Shares

Indirect - Laura Thomas

Ordinary Shares

3,000,000 Ordinary Shares

Unlisted options:

3,000,000 Unlisted options over ordinary shares

exercisable at $0.05 on or before 21 October 2023, vesting

on 21 October 2020.

4,000,000 Unlisted options over ordinary shares

exercisable at $0.06 on or before 21 October 2023, vesting

on 21 October 2021.

Performance Rights

5,000,000 Performance rights vesting on the satisfactory

completion of a transaction in accordance with terms

outlined in the Company's Notice of Annual General

Meeting dated 8 October 2019.

1,000,000 Performance rights, expiring 21 December 2025,

vesting upon the Company announcing a new JORC 2012

compliant mineral resource estimate of 50,000 tonnes Cu

or equivalent KPI at the sole discretion of the Board

1,000,000 Performance rights, expiring 21 December 2025,

vesting upon the Company announcing a new JORC 2012

compliant mineral resource estimate of 100,000 tonnes Cu

or equivalent KPI at the sole discretion of the Board

1,000,000 Performance rights, expiring 21 December 2025,

vesting upon the Company announcing a new JORC 2012

compliant mineral resource estimate of 200,000 tonnes

Cu or equivalent KPI at the sole discretion of the Board

Nature of change

a) Received upon the exercise of performance rights

Example: on-market trade, off-market trade, exercise of options,

b & c) Performance rights exercised

issue of securities under dividend reinvestment plan, participation

d, e & f) Long term incentive to Managing Director as

in buy-back

approved by shareholders at the Company's 2021 Annual

General Meeting

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

+ See chapter 19 for defined terms.

Appendix 3Y Page 4

01/01/2011

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Hammer Metals Limited published this content on 28 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 December 2021 21:16:10 UTC.