Hazelwoods 100% owned Cookes Creek Tungsten Project shows positive to start producing 2-3% of the world’s primary tungsten.

Final Assays Show Size and Grade - Updated Resource Model Imminent

All assays have been received from the recent in-fill drilling program at the Big Hill Tungsten Deposit.
Data have been integrated into a revised geological model and handed over to an external consultant
for an independent Mineral Resource update, which is expected to increase the category (that is,
confidence) of the Mineral Resource significantly.
The in-fill drilling within the known resource at Big Hill has intersected both large widths of scheelite
mineralisation that is considered amenable to bulk-mining and processing and narrower zones of high
grade material. Amongst the new results (refer Table 1);

92 metres @ 0.12% WO3 from 125 to 217 metres in hole 08BHRD055
20 metres @ 1.62% WO3 from 62 to 82 metres in hole 09BHD010
13 metres @ 0.25 WO3 from 115 to 128 metres in hole 09BHD005
17 metres @ 0.33% WO3 from 84 to 101 metres in hole 09BHD009
Includes 1m @ 2.66% WO3 from 91 to 92 metres
2 metres @ 1.30% WO3 from 16 to 18 metres in hole 09BHD006
1 metre @ 1.61% WO3 from 90 to 91 metres also in hole 09BHD006
1 metre @ 1.46% WO3 from 244 to 245 metres in hole 08BHRD056
10 metres @ 0.21% WO3 from 114 to 124 metres in hole 09BHD003

The current project concept is a bulk mining and processing operation that exploits the entire width of
the mineralised sequence, however there is evidence of higher grade tungsten zones within the Big Hill
Tungsten Deposit. Most of the existing Mineral Resource is within 100 metres of surface and many of
these higher grade zones can readily be accessed via open pit mining.
The Big Hill Tungsten Deposit has progressively been de-risked through intensive evaluation. The area
that comprises the Resource has been tested by more than 160 drillholes in a close-spaced pattern.
Only one third of the strike extent of the mineralised sequence has been resource drilled, and there are
also high grade tungsten exploration drilling results at the nearby McLeods Shear Zone.
Hazelwood looks forward to putting its 100% owned Cookes Creek Tungsten Project back into
production, producing 2-3% of the world's primary tungsten.

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