Heavy Rare Earths Limited · ASX:HRE
Heavy Rare Earths — Investor Presentation (August 2026)
19 slides from Heavy Rare Earths's investor presentation, Aug 12, 2026
Slide 1: Subron Heavy Rare Earths Project
Subron Heavy Rare Earths Project For personal use only High-grade domains with 38%+ HREO:TREO ratio Western Australia’s new High-Grade HREO project Market Update | August 2026
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer The information contained in this document (“Document”) has been prepared by Heavy Rare Earths Limited (referred to as “HRE Limited” or “the Company”). The purpose of this Document is to provide background information to assist readers in obtaining a general understan
Slide 3: Board and Corporate Snapshot
Board and Corporate Snapshot For personal use only Jason Barnett Managing Director & CEO Gabriel Chiappini Non-Executive Chairman Amanda Buckingham Non-Executive Director Graeme Morissey Non-Executive Director 280 million Shares on Issue (post capital raise) Mr Jason Barnett is an experienced Mr Gab
Slide 4: Project Portfolio
Project Portfolio Comprises HREO, Tin, Uranium, Sc, & REE’s Subron Heavy Rare Earths project – (100%, WA) For personal use only • Subron HREO discovery (formerly Cowalinya) - High-grade domains >500ppm, with HREO:TREO ratio > 38% • Rapid progress by using existing data from previous drilling • Oppor
Slide 5: Subron Heavy Rare Earths project (formerly Cowalinya)
Subron Heavy Rare Earths project (formerly ‘Cowalinya’) High grade domains, with exceptionally high HREO ratio For personal use only • Existing JORC inferred resource of 159Mt @ 870 ppm TREO 2 • Project located on non-farming, unallocated crown land, 110km NNE of Port of Esperance, 350km to Kalgoorl
Slide 6: Pipeline of HREO prospects and potential catalysts
Subron Heavy Rare Earths project (formerly ‘Cowalinya’) Pipeline of HREO prospects and potential catalysts For personal use only • Existing data recently reviewed by independent expert, Claudio Sheriff who identified high-grade domains, with exceptionally high HREO:TREO ratio of 38% • Low-cost oppor
Slide 7: Subron review identified high grade domains of Pr, Nd, Tb, Dy, Y
Subron review identified high grade domains of Pr, Nd, Tb, Dy, Y Exceptional 38% HREO:TREO ratio For personal use only Applying a 300ppm HREO cut-off, Mr Sheriff discovered higher grade zones with weighting toward heavy rare earths: • 150 Significant Intercept drill intervals3; including • 454 indiv
Slide 8: Subron: High-grade HREO prospects
Subron: High-grade HREO prospects Seawolf is a priority target: 8m @ 3057ppm TREO, 1344ppm HREO, for a 42% HREO ratio4 For personal use only 4 See Company ASX release dated 27th July 2026 Heavy Rare Earths Limited | ASX:HRE 8
Slide 9: Subron – Why is it different?
Subron – Why is it different? Deep structures, and high basket value due to strong HREO ratio Magnetic survey show the underlying deep-seated NE-SW Peer table published by Barkly identified Subron (formerly ‘Cowalinya’) as For personal use only structures which tap into the mantle and bring up the H
Slide 10: REE Expert Claudio Sheriff reveals true value at Subron
REE Expert Claudio Sheriff reveals true value at Subron Review of existing data reveals exceptional opportunity For personal use only “Residual clay occurrences aren’t rare, however the Claudio Sheriff REE Specialist cluster of HREO domains in a Sea of regional prospectivity emerging at Subron are r
Slide 11: South Australia Critical Minerals
South Australia Critical Minerals Scandium, Uranium, Tin, REE and Yttrium For personal use only • Prospect Hil (Sn + U) • Radium Hill (U REE + Sc +Y) • Billeroo (U) Earn in with Havilah resource (ASX : HAV) $3 million over 3 years across all projects for 80%5, $1.5 million on Prospect Hill Sn over 3
Slide 12: Prospect Hill Project
Prospect Hill Project South Australia’s largest and most advanced tin project For personal use only • Shear zone hosted system, where drilling outlined steep- dipping tin mineralisation over 500 metres of strike, up to 120 metres depth and still open down-dip and along strike. • Acquired dataset inc
Slide 13: Prospect Hill Project: 3,200m RC and Diamond program approved
Prospect Hill Project 3,200m RC and Diamond program approved For personal use only • Recent surface mapping has extended the host structure to 1.85km and identified parallel structures for future targeting • Maiden Drilling Program up to 3,200m of RC and DD - Confirm mineralisation - Extend minerali
Slide 14: Radium Hill Project
Radium Hill Project Uranium and Scandium produced from mineralisation For personal use only • Along strike from the historic mine, with a production history of uranium and scandium at Port Pirie (1950’s) • Mine produced 1.9 Mlbs @ 1,170 ppm U3O8 between 1954 and 19617 (though never assayed for Rare
Slide 15: Radium Hill Project: Drilling
Radium Hill Project Drilling - First time assaying for U, Sc and REEs • High grade mineralisation with surface rock samples8; For personal use only • SA government supporting critical mineral processing at Port Pirie - eg Nystar (Trafigura) antimony production • Planned drill program to target shall
Slide 16: 2026-27 Planned Work
2026-27 Planned Work Funded to deliver significant news flow Subron Q3 2026 Q4 2026 Q1 2027 For personal use only Growth Opportunities Mineralisation characterisation / SEM work Maiden HG “heavy” resource Targeted metallurgical test work Heritage / Drilling preparation Industry partnerships Prospect
Slide 17: Summary
Summary Refreshed, Funded, Significant news flow For personal use only Subron • HREO “ discovery” of high-grade domains >500ppm HREO & >38% HREO:TREO ratio • Rapid progress including maiden high-grade HREO resource CY2026 Prospect Hill • High-grade tin mineralisation, including 5 metres @ 3.32% Sn •
Slide 18: Thank You
Thank You For personal use only Contact Us Jason Barnett Managing Director A Level 21, 459 Collins Street Melbourne, VIC 3000 E info@hreltd.com.au 18
Slide 19: Appendix - Subron (formerly Cowalinya)
Appendix - Subron (formerly ‘Cowalinya’) Subron Pipeline of HREO prospects and potential catalysts For personal use only • Low-cost opportunity exists to define a high-grade, high-HREO, material resource within the broader mineralised region. • The new name ‘Subron’ is an acronym of ‘Submarine Squad
Heavy Rare Earths — Investor Presentation (August 2026) on 6ix