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Big Sandy and Lordsburg

Lithium Projects

STRATEGIC LITHIUM PROJECTS IN THE USA

(ASX:HWK)

April 2018

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Disclaimer and Forward Looking Statements

This presentation is not a prospectus nor an offer of securities for subscription or sale in any jurisdiction nor a securities recommendation. The information in this presentation is an overview and does notcontain all information necessary for investment decisions. In making investment decisions, investors should rely on their own examination of Hawkstone Mining Limited (Company) and consult with theirown legal, tax, business and/or financial advisers in connection with any acquisition of securities or interest in the Big Sandy and Lordsburg Lithium Projects. The information contained in this presentationhas been prepared in good faith by the Company. However, no representation or warranty, express or implied, is made as to the completeness or adequacy of any statements, estimates, opinions or otherinformation contained in this presentation. To the maximum extent permitted by law, the Company, its directors, officers, employees and agents disclaim liability for any loss or damage which may besuffered by any person through the use of, or reliance on, anything contained in or omitted from this presentation. Certain information in this presentation refers to the intentions of the Company, butthese are not intended to be forecasts, forward looking statements, or statements about future matters for the purposes of the Corporations Act 2001 (Cth) or any other applicable law. The occurrence ofevents in the future are subject to risks, uncertainties and other factors that may the Company’s actual results, performance or achievements to differ from those referred to in this presentation to occuras contemplated. The presentation contains only a synopsis of more detailed information available in relation to the matters described in this document and accordingly no reliance may be placed for anypurpose whatsoever on the sufficiency or completeness of such information and to do so could potentially expose you to a significant risk of losing any of the property invested by you or incurring by youof additional liability. Recipients of this presentation should conduct their own investigation, evaluation and analysis of the business, data and property described in this presentation. In particular, anyestimates or projections or opinions contained herein necessarily involve significant elements of subjective judgment, analysis and assumptions and you should satisfy yourself in relation to such matters.

Competent Person Statement

The information in this presentation that relates to mineral composition investigations is based on and fairly represents information compiled by Mr Greg Smith, a Competent Person whom is a Member ofthe Australasian Institute of Mining and Metallurgy. Mr Smith is a director and shareholder of USA Lithium Ltd and will receive Company securities as part of the Acquisition. Mr Smith has sufficientexperience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition ofthe ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Smith consents to the inclusion in this announcement of the matters based on his information in theform and context in which it appears

All parties have consented to the inclusion of their work for the purposes of this presentation. The interpretations and conclusions reached in this presentation are based on current geological theory andthe best evidence available to the author at the time of writing. It is the nature of all scientific conclusions that they are founded on an assessment of probabilities and, however high these probabilitiesmight be, they make no claim for absolute certainty. Any economic decisions which might be taken on the basis of interpretations or conclusions contained in this presentation will therefore carry anelement of risk.

IMPORTANT NOTICES

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Strategic Lithium Projects in the USA

• Two strategic lithium projects – both 100% owned

− Big Sandy Lithium Clay Project – Arizona

− Lordsburg Lithium Brine Project – New Mexico

• Previous exploration has generated encouraging results and provides immediate walk up drill targets

Proven Team

• Klaus Eckhof to be appointed Non-executive Director – chairman of AVZ Minerals

• Paul Lloyd to be appointed Executive Chairman

• Greg Smith to be appointed Chief Technical Officer – ex Moto Gold / Elemental Minerals

Located Close to Existing Infrastructure

• Close to established routes for access and transport

• Grid power and local workforce

• Domestic Supplier to end-users located north west of Big Sandy

Attractive Mining Jurisdiction

• Simple and transparent Bureau of Land Management (BLM) approval process

• No royalties, minimal holding costs, and no minimum expenditure requirements

• Skilled labour in mining friendly jurisdictions

Well Funded• Following completion of the Placement, Hawkstone will have cash reserves of ~$3M

• Sufficient funding for first 12 month planned work program

Near Term Catalysts

• Photo-geological interpretation underway

• Diamond Drilling 17 hole campaign – subject to BLM approval, expected May

• Advance metallurgical test work and processing solution

USA LITHIUM TRANSACTION HIGHLIGHTS

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• BIG SANDY LITHIUM CLAY PROJECT

– Big Sandy clay lithium project located in Arizona

– 258 BLM claims covering 20.9 km2

– Straddles I93 between Phoenix and Las Vegas

• LORDSBURG LITHIUM BRINE PROJECT

– Lordsburg Lithium Brine project located in New Mexico

– 355 BLM claims covering 28.7km2

– Accessible from Interstate 10 between Tucson (Arizona)and La Cruces (New Mexico)

• KANGWANE ANTHRACITE PROJECT – SOUTH AFRICA

– Presently undertaking a 6 hole drilling program

– Assessing value realisation opportunities

USA LITHIUM PROJECTS

“Our team has been actively assessing Lithium projects in the USA for a number of years and we are

excited to bring two projects of this quality to market.”

Klaus Eckhof - Non-executive Director Elect

BIG SANDY LITHIUM PROJECT

UPPER GREEN UNIT

LOWER BROWN UNIT

Big Sandy - Green Lacustrine Lithium Bearing Clay Horizon - (approximately 1.5km north of Cofer Hot Springs)

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• 258 BLM claims covering 20.9 km2

• Flat-lying lacustrine sediments consisting predominantly of clays with analcime (zeolitic) and potassic alteration zones

• Green lithium bearing clay horizon traceable for over 11km north to south and extends at least 2km to the east, as a shallow, flat sheet

• Estimated thickness from 10 – 25m

• Hot springs and basin bounding acid volcanics identified as potential sources for lithium bearing fluids

• Cofer Hot Springs lies near some of the highest grade results (+3000ppm)

• Potential for stacked lithium mineralised horizons

• Diamond Drilling 17 hole campaign planned – subject to BLM approval

BIG SANDY GEOLOGY

Big Sandy Channel and Auger Sample Locations and Proposed Drilling

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BIG SANDY - EXPOSURE OF GREEN CLAYS

Big Sandy - Exposure of Green Clays South of main claim block Sycamore Creek, 3km south of Cofer Spring

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• Green lithium clays are easily identified and are consistent along strike over 11km

• Initial phases of exploration yielded highly encouraging results

• 275 channel samples within weathered material were collected in 2017, including:

– 12m @ 970 ppm Li

– 18m @ 998 ppm Li

– 42m @ 1,073 ppm Li

– 18m @ 1,075 ppm Li

– 24m @ 1,160 ppm Li

– 5m @ 2,026 ppm Li

• 7 recent auger holes returned results exceeding 900 ppm lithium, including 3 that returned:

– 2,983 ppm Li

– 3,370 ppm Li

– 3,150 ppm LiFor further details refer ASX announcement dated 22 March 2018.

BIG SANDY EARLY EXPLORATION SUCCESS

Big Sandy – Exposure of Green Clays

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BIG SANDY - UPPER GREEN CLAY UNIT AND RECENT EXPLORATION

Big Sandy – Channel Sampling Weathered Zone (April 2017)

Auger sampling at the high grade zone near Cofer Springs

Big Sandy – Exposure of Green Clays

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• Big Sandy has similarities with other lithium clay deposits:

– Bacanora Minerals Limited - Sonora Project in Mexico

– Lithium Americas Corp - Lithium Nevada Project (formerly Kings Valley Project) in Nevada

• Clay style deposits are proving to be a low cost, economically viable source of lithium

• Favourable operating costs given simple flow-sheet with little requirement for crushing and grinding

• USA Lithium is working with Membrane Development Specialists LLC (MDS) to investigate the amenability of Big Sandy’s sediments to lithium extraction using new membrane processes

• MDS indicate that Big Sandy materials should be amenable to an acid leach, ultrafiltration, nanofiltration and reverse osmosis process to separate the lithium

• Process simultaneously recovers around ~80% of the water and acid for reuse

• MDS have completed successful metallurgical test work on a clay hosted lithium deposit in the Clayton Valley with similar characteristics to Big Sandy

BIG SANDY METALLURGY

Big Sandy Green Clay near Cofer Springs

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SIMPLIFIED PROCESS FLOW DIAGRAM - INDICATIVE

Ion Exchange

RO Membrane UF Membrane

+99% Li2CO3

Vat Leach

Clay + Water + Sulphuric Acid

Water + Acid ~80% Recovery

Mg, Ca Recovery

Waste Solids

Clarifier

NF Membrane

Supernatant

Indicative only – subject to additional metallurgical test work.

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Bacanora Lithium plc (LSE AIM: BCN)

Market Cap – £120M (April 2018)

• Sonora Project in Mexico

• Recently subject to a Feasibility Study. Existing 43-101 Compliant Mineral

Resource of 291 million tonnes (Measured & Indicated) at greater than 3,250

ppm (0.325%) Lithium, which equates to 5,038kt of lithium carbonate

equivalent. Source: Ausenco Services Pty Ltd, Technical Report on the Feasibility Study for the Sonora Lithium Project,

Mexico, January 2018.

Lithium Americas Corp (TSX: LAC, NYSE: LAC)

Market Cap – C$586M (April 2018)

• Lithium Nevada Project (formerly Kings Valley Project) in Nevada

• Currently subject to a Preliminary Feasibility Study due for completion by Q2

2018. Existing 43-101 Compliant Mineral Resource of over 300 million tonnes

(Measured & Indicated) at greater than 0.284% (2,840ppm) Lithium or greater

than 1.5% lithium carbonate equivalent across two lenses of mineralisation.

Source: SRK Independent Technical Report for the Lithium Nevada Property, Nevada, USA, June 2016.

Bacanora Corporate Presentation March 2018

MARKET ANALOGUES

LORDSBURG LITHIUM PROJECT

The Lordsburg Playa Lakes in New Mexico

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• 355 BLM claims covering 28.7km2

• Lordsburg sits within the playa lake system at the northernmost end of the Animas Valley

• Playa is within the main depression of the Valley and is coincident with a broad gravity low

• Tertiary age volcanic source rocks surround a tectonically active basin -mimics the Clayton Valley setting

• Sampling has returned values of up to 160ppm Li in playa sediments

• Groundwater interpretation indicates palaeo-groundwater flow directions from north and south potentially having exited the basin to the east

LORDSBURG GEOLOGY

Regional Gravity – Target Playa

Lordsburg Claims, Salt Well and Sampling

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• Consistently anomalous Lithium values in playa sediments

• High Lithium/magnesium ratio provides excellent metallurgical potential

• Consistent Li (ppm) to K (%) ratio compares favorably to producing lithium brines

– Clayton Valley is host to the only producing lithium brine operations in the USA

• Salt well labelled “too salty for human or livestock use”

LORDSBURG GEOCHEMISTRY

SAMPLE EASTING NORTHING Li ppm Mg % K %

LPN 1 697997 3583949 93.2 1.22 3.04

LPN 2 698051 3583303 97.9 1.19 2.94

LPN 3 698039 3582662 133.5 1.73 2.79

LPN 4 698022 3582006 120 1.45 2.92

LPN 5 697492 3581683 135 1.69 2.69

LPN 6 696971 3581853 148.5 1.89 2.59

LPN 7 696513 3582323 140.5 1.83 2.63

LPN 8 697453 3582712 155.5 1.96 2.67

LBE1 700062 3580319 140 No Multi element analysis

LBE2 699959 3580318 130 No Multi element analysis

LBE3 699862 3580314 140 No Multi element analysis

LBE4 699754 3580309 140 No Multi element analysis

LBE5 699675 3580394 160 No Multi element analysis

LBE6 699614 3580471 150 No Multi element analysis

LBE7 699534 3580545 140 No Multi element analysis

For further details refer ASX announcement dated 22 March 2018.

Well Head at Salt Well

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• Photo-geological interpretation underway

• Diamond Drilling 17 hole campaign – subject to BLM approval, expected May

– Phase 1 - 17 holes to ~100m across the project area to determine grades below weathered zone and assess potential for stacked mineralised zones

• Advance metallurgical test work and processing solution

– Membrane Development Specialists (MDS) engaged to optimise testing for extractability of lithium

– 20kg sample with MDS - preliminary metallurgical test-work to establish recoveries and reagent consumptions

– Sample taken from an auger hole twinning hole DH2 -average of 3,370ppm Li

– Preliminary report expected in Q2 2018

• Basin structural interpretation underway

• Hydrological interpretation and drill site targeting

• Conceptual drill programme of 3 water wells 300-400m

• “Notice of Intent” to be filed with Las Cruces BLM Office

• Approval to drill expected in Q4 2018

• Complete drilling and assaying Q1 2019

Big Sandy Lordsburg

UPCOMING EXPLORATION & TESTWORK

ACQUISITION OVERVIEW

Big Sandy- Exposure of Green Clays

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• Hawkstone to acquire 100% of the shares in USA Lithium Ltd

• USA Lithium owns 100% of two highly prospective lithium projects;

– Big Sandy Lithium Clay deposit in Arizona

– Lordsburg Lithium Brine project in New Mexico

• Acquisition Terms

– Non-refundable option fee satisfied by the issue of 12,500,000 ordinary shares

– Subject to exercise of the option and shareholder approval, Hawkstone will issue 250,000,000 shares to acquire 100% of USA Lithium

• Klaus Eckhof and Paul Lloyd to join the Board of Hawkstone

• Greg Smith to join as Chief Technical Officer

• Hawkstone to be fully-funded via a placement to sophisticated and institutional investors to raise A$3M

• Incoming directors and management are highly incentivised with options exercisable at 4cps and 5cps, providing further funding solution

• Material, near-term news flow to come from both projects

ACQUISITION OVERVIEW AND TIMETABLE

ParticularsCurrently on

Issue

Option

AgreementCapital Raising

Proforma at

Completion

Ordinary Shares 276,127,995 262,500,000 150,000,0001 688,627,995

Options

(unquoted)6,000,000 124,500,0002 - 130,500,000

Indicative Capital Structure & Timetable

1 At announcement, the Company has received commitments to place 25,000,000 shares at anissue price of 2 cents per share to raise $500,000.

2 Director/Executive Options, Existing Director Options and Advisor Options: 62.25M Tranche 1options with an exercise price of $0.04 expiring 4 years from the date of issue, plus 62.25MTranche 2 options with an exercise price of $0.05 expiring 4 years from the date of issue.

Action Date

Announcement of Option Agreement 22 March 2018

Despatch of Notice of Meeting Late April 2018

Extraordinary General Meeting Late May 2018

Consideration Shares and Placement Shares issued & Appendix 3B Late May 2018

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Paul Lloyd - Executive Chairman (Elect)

Mr Lloyd is a Chartered Accountant with over thirty years commercial experience. He operates his own corporate consulting business, specialising in thearea of corporate, financial and management advisory services. He has been responsible for a number of ASX IPO’s in the resources and oil and gasindustries over the last 12 years and has been involved in a number of capital raisings.

Klaus Eckhof - Non-Executive Director (Elect)

Mr Eckhof has over 40 years experience in the mining industry in technical, corporate and management positions. He has been involved in numeroussuccessful companies, including Managing Director of Moto Gold Mines, and more recently as Chairman of AVZ Minerals acquiring the ManonoPegmatite Project (worlds largest spodumene bearing pegmatite). He was or is a director of Tiger Resources (Cu, Co), Amani Gold and Alphamin.

Greg Smith - Chief Technical Officer (Elect)

Mr Smith has over 40 years of experience as a geologist. He was previously the exploration manager with Moto Gold mines which was responsible for a+22Moz gold discovery in the DRC. Moto was subsequently taken over for A$600M. Greg has also served as the Managing Director of ElementalMinerals.

Shaun Hardcastle - Non-Executive Director

Mr Hardcastle has over 10 years’ experience as a corporate and finance lawyer and extensive experience in corporate governance, risk management and compliance. He has been involved in a broad range of cross-border and domestic transactions including joint ventures, corporate restructuring, project finance, resources and asset/equity sales and acquisitions. Mr. Hardcastle has practiced law both in Australia and overseas and is a partner at Bellanhouse Lawyers.

Oonagh Malone - Non-Executive Director & Company Secretary

Ms Malone is a principal of a corporate advisory firm which provides company secretarial and administrative services. She has over 8 years’ experience in administrative and company secretarial roles for listed companies and is a member of the Governance Institute of Australia. She currently acts as company secretary for ASX-listed Boss Resources, Carbine Resources, Hawkstone Mining, Matador Mining and Primary Gold.

DIRECTORS AND SENIOR MANAGEMENT

Hawkstone Mining LimitedSuite 23, 513 Hay Street Subiaco WA 6008

For further information, please contact:Hawkstone - +61 8 6143 6705; or Paul Lloyd (Executive Chairman Elect) - +61 419 945 395