Hardey Resources Executive Chairman, Terence Clee commented:...

Hardey Resources Executive Chairman, Terence Clee commented: “While considerableresources have been devoted to closing out the two vanadium transactions, our geologyconsultants have been conducting reviews on the gold assets. This initial update on Cheela,Bellary, Hammersley and Elsie North is highly encouraging, particularly the prospect of subsurfacetarget mineralisation being apparent. More importantly, recent approaches byAustralian and international groups is timely, with the Board seeking to optimise these assetsthrough bringing in prospective strategic partners.”

"Strategic partners

This report’s finding is timely as the Board has recently been approached by Australian and international groups interested in the four projects. A clear priority of the Board’s is to optimise the Pilbara conglomerate-gold hosted assets through leveraging the expertise of a high calibre strategic partner, particularly the Bellary project.

Next steps

The clear priority for the Board is developing the newly acquired vanadium projects, while atthe same time optimising legacy assets. This twin objective is being progressed to maximisevalue for shareholders.For the conglomerate-hosted gold assets under review, particularly the Bellary project, the keynext steps are commencing the high level exploration program and opening discussions withprospective strategic partners. "