Haoma Mining’s comments in response to expected completion of Hancock Prospecting takeover of Atlas Iron

Haoma Mining’s Directors are pleased that the Atlas Iron takeover will be completed, as up until now the present Atlas management has restricted their dealings with Haoma.

The directors of Haoma are hopeful that they will have a good working relationship with Hancock Prospecting with regard to the Mt Webber Mining Lease M45/1197.

Haoma sold its Mt Webber Dalton iron ore rights to Atlas in 2012. The Sale Agreement included a ‘Reserve Uplift Payment’ entitlement. The payment entitlement is triggered whenever reserve development work on the tenements which were subject to the Sale Agreement result in an announcement to the ASX of a JORC compliant iron ore reserve in excess of 24 million tonnes inclusive of any iron ore tonnes previously mined. Refer to Section 4 of the Haoma Mining Chairman’s Address to the February 28, 2018 General Meeting of Shareholders

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