At Kilbricken IN Ireland
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE JULY 20, 2017
HANNAN DRILLS 3.2 METRES @ 8% ZINC, 73% LEAD AND 388 G/T SILVER AND
18.8 METRES @ 9% ZINC, 1% LEAD, 19 G/T SILVER
AT KILBRICKEN IN IRELAND
Vancouver, Canada – Hannan Metals Limited (“Hannan” or the “Company”) (TSX.V: HAN) (OTCPK: HANFF) is
pleased to announce very high grade and thickness drill results from the first drill hole completed in its resource expansion
program at the 100%-owned Kilbricken zinc-lead-silver-copper deposit in Ireland.
Hannan’s first diamond drill hole at Kilbricken, DH 17-3679-217 (“DH217”), is one of the most mineralized ever drilled at
the property. Highlights include:
o 8.0 metres @ 4.1% Zn, 33.7% Pb and 174 g/t Ag (37.9% Zn+Pb) from 528 metres, including 3.2
metres @ 8.4% Zn, 72.8% Pb and 388 g/t Ag (81.2% Zn+Pb) from 528 metres;
o 3.4 metres @ 5.2% Zn, 4.3% Pb and 33 g/t Ag (9.5% Zn+Pb) from 570 metres;
o 26.6 metres @ 7.5% Zn, 0.9% Pb and 14 g/t Ag (8.4% Zn+Pb) from 588 metres, including 18.8
metres @ 8.8% Zn, 1.1% Pb, 19 g/t Ag (9.9% Zn+Pb) from 588 metres;
● A 2.2 metre interval from 528 metres assayed 86% lead which approximates pure galena (PbS, Photo 1);
● DH217 was completed at 714 metres into the Fort Zone at Kilbricken. Base metal mineralization was intersected
over a total downhole length of 128 metres with multiple intervals exceeding the grade and thickness cut-off for
the mineral resource area;
● DH217 was a 20 metre step out from drill hole DH167 which intersected a lower zone of mineralization that returned
4.5m @ 0.8% Zn, 2.6% Pb, 18.91% Cu, 867.6g/t Ag from 616.5m;
● The initial drill program by Hannan is focused on expansion of the current mineral resource and extraction of
metallurgical samples. To date two holes have been completed for 1,365 metres. Drilling will continue until August
2017. The next hole drilled, DH218 is a 50 metre step out, located 70 metres up dip from DH217 (Figure 1).
Mr. Michael Hudson, CEO and Chairman, states: “Hannan’s first drill hole (DH217) is a clear demonstration of the very high
grades that are found at Kilbricken, and the strength of the mineralization process with 3.2 metres @ 81.2% zinc plus
lead and 388 g/t silver. The higher-grade mineralization shows good lateral continuity and is contained within a broader
mineralized zone totaling 79 metres down hole length. DH 217 was not included in the maiden resource calculation
announced on July 10, 2017 and this result will add to the existing indicated and inferred mineral resources. This is a great
start to our resource expansion drill program.”
A plan and cross section view of the drill results is provided in Figure 1. Table 1 shows highlight intersections and Tables 2
and 3 include all relevant collar and assay information. The true thickness of mineralized intervals at Kilbricken is interpreted
to be approximately 95% of the sampled thickness.
Technical Background
One diamond drill rig from Priority Drilling Limited with water recirculation and drill cuttings collection systems was used for
the drill results reported here. Core diameter is NQ2 (50.6 mm) . Core recoveries were excellent and average close to 95-
100% in fresh rock. After photographing and logging, core intervals averaging 1-2 metre for mineralized samples were cut
in half at Hannan’s core facilities in Ennis, Co. Clare, Ireland. The remaining half core is retained for verification and reference
purposes.
Analytical samples were transported by Hannan personnel from site to the ALS Loughrea located at Dublin Road, Loughrea,
Co. Galway, Ireland. At the laboratory samples are dried, crushed to 100% passing 2mm, then 500 grams pulverized for
multi-element analysis by method ME-MS6, a four-acid digest performed on 0.25g of sample to quantitatively dissolve most
geological materials. Analysis is via ICP-MS + ICP-AES. Samp les assaying over range 1% zinc, lead, or copper and 100g/t
silver were re-assayed using methods Ag/Pb/Zn-OG62, a precise mineralization grade method to determine lead, zinc and
silver by HF-HNO3-HClO4 Digest, HCl leach and ICP-AES. For lead >20% and <80% method Pb-AAORE <80% was applied.
This is a high precision analysis of lead mineralization, where lead was released with a strong oxidizing attack and analyzed
by AAS. For lead >80%, method ME-CON02 was selected wher e lead is normally determined in concentrates by a
combination of acid digests with spectroscopy finish.
The QA/QC program of Hannan consists of the systematic inse rtion of certified reference material of known base metal
content and blanks at the start of each batch and within inte rpreted mineralized rock. In addition, ALS inserts blanks and
standards into the analytical process.
Table 1: Highlight intersections from DH 217. Lower cut-off 5% ZnEq applied except where * noted.
Hole_ID From To Width Zn% Pb% Ag g/t Cu% Pb+Zn
217 528.0 536.0 8.0 4.1 33.7 174 0.1 37.9
including 528.0 531.2 3.2 8.4 72.8 388 0.1 81.2
217 570.0 573.4 3.4 5.2 4.3 33 0.1 9.5
217 588.0 614.6 26.6 7.5 0.9 14 0.1 8.4
including 588.0 606.8 18.8 8.8 1.1 19 0.1 9.9
217* 622.6 656.4 33.8 0.0 0.1 11 0.3 0.1
Note: The zinc equivalent (ZnEq) value was calculated using the following formula: ZnEq% = Zn % + (Cu% * 2.102) + Pb% * 0.815) + (Ag g/t
* 0.023) with assumed prices of Zn $2587/t; Cu $5437/t; Pb $2108/t and Ag $18.44/oz.
About Hannan Metals Limited (TSX.V:HAN)
Hannan Metals Limited has 100% ownership of the County Clare Zn-Pb-Ag-Cu project in Ireland, which consists of 9 prospecting licences
for 32,223 hectares. Zinc remains in tight supply amidst rising demand and stagnant supply. Ireland is a leading global jurisdiction for
zinc mining and exploration. In 2015, Ireland was the world’s 10th largest zinc producing nation with 230,000 tonnes produced.
This maiden mineral resource for was published in July 2017, and immediately ranks Kilbricken as one of the top ten base metal deposits
discovered in Ireland by tonnes and grade. Total indicated mineral resource were calculated as 2.7 million tonnes at 8.8% zinc equivalent
(“ZnEq”), including 1.4 million tonnes at 10.8% Zneq and total inferred mineral resour ce of 1.7 million tonnes at 8.2% ZnEq, in cluding
0.6 million tonnes at 10.4% ZnEq. Importantly, the initial resource is expandable at all scales, from near resource to prospect scale.
Over the last decade, the team behind Hannan has forged a long and successful record of financing and discovering mineral projects in
Europe. Additionally, the team holds extens ive zinc experience, gained from the world’s largest integrated zinc producer of th e time,
Pasminco Ltd.
Mr. Michael Hudson FAusIMM, Hannan’s CEO and Chairman, is a Qualified Person as de fined in National Instrument 43-101 and has
reviewed and approved the technical disclosure contained in this news release.
On behalf of the Board,
"Michael Hudson"
Michael Hudson, CEO & Chairman
Further Information
www.hannanmetals.com
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
Mariana Bermudez, Corporate Secretary,
+1 (604) 685 9316, [email protected]
Forward Looking Statements
Certain information set forth in this news release contains “for ward-looking statements”, and “forward- looking information” under applicable securities
laws. Except for statements of historical fact, certain inform ation contained herein constitutes forward-looking statements, wh ich include the Company’s
expectations regarding future performance based on current results, expected cash costs based on the Company’s current internal expectations, estimates,
projections, assumptions and beliefs, which may prove to be inco rrect. These statements are not guarantees of future performanc e and undue reliance
should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, wh ich may cause the
Company’s actual performance and financial results in future periods to differ materially from any projects of future performan ce or results expressed or
implied by such forward-looking statement. These risks and uncertainties include, but are not limited to: liabilities inherent in mine development and
production, geological risks, the financial markets generally, and the ability of the Company to raise additional capital to fund future operations. There can
be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ ma terially from those
anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates
or opinions should change except as required by applicable se curities laws. The reader is caut ioned not to place undue reliance on forward-looking
statements.
Neither the TSX Venture Exchange nor its Regulation Services Provid er (as that term is defined in the policies of the TSX Ventu re Exchange) accepts
responsibility for the adequacy or accuracy of this news release.
Photo 1: Drill hole 217 showing part of the core that assayed 3.2 metres @ 8.4% Zn, 72.8% Pb and 388 g/t Ag (81.2% Zn+Pb).
Figure 1: Cross Section 1225. New results from drill hole 17-3679-217 and plan location.
Galena-Calcite Zone
Pyrite Zone
Sphalerite Zone
Chalcopyrite-Bornite
zone
Old Red Sandstone
Bituminous shales
Waulsortian Limestone
Nodular Micrite Unit
Kilbricken Zn-Pb-Ag-Cu
Project
Fort
Chimney
A
B
Vertical
depth (m)
11-3679-167
4.5m @ 0.8% Zn, 2.6% Pb, 18.91% Cu, 867.6g/t Ag from 616.5m
11-3679-161
10.4m @ 8.4% Zn, 3.9% Pb, 0.09% Cu, 26.5g/t Ag from 607m
11-3679-153
12.8m @ 4.8% Zn, 2.3% Pb, 0.08% Cu, 28.3g/t Ag from 640.6m
Historic Results
New Data: Drill hole 17-3679-217
8.0 metres @ 4.1% Zn, 33.7% Pb and 174 g/t Ag (37.9% Zn+Pb) from 528 metres,
including 3.2 metres @ 8.4% Zn, 72.8% Pb and 388 g/t Ag (81.2% Zn+Pb) from 528 metres;
3.4 metres @ 5.2% Zn, 4.3% Pb and 33 g/t Ag (9.5% Zn+Pb) from 570 metres;
26.6 metres @ 7.5% Zn, 0.9% Pb and 14 g/t Ag (8.4% Zn+Pb) from 588 metres, Including 18.8
metres @ 8.8% Zn, 1.1% Pb, 19 g/t Ag (9.9% Zn+Pb) from 588 metres;
N
Table 2: Collar Information for Resource Expansion Program at the Kilbricken Project
HoleID East North Azimuth Dip RL Depth
DH217 139133.223 176005.973 020 -82 22.433 714
DH218 139165.47 176035.14 010 -81 22.735 651
Table 3: Individual Assays for DH217 from the Kilbricken Project
SampleID From To Interval Zn% Pb% Ag g/t Cu%
20310 524.0 525.7 1.7 0.7 0.5 3 0.0
20311 525.7 526.4 0.7 0.4 0.2 2 0.0
20312 526.4 528 1.6 1.8 1.6 10 0.0
20313 528.0 529.0 1 0.7 86.6 425 0.0
20314 529.0 530.2 1.2 0.0 85.9 460 0.0
20315 530.2 531.2 1.0 25.0 45.3 273 0.3
20317 531.2 533.0 1.8 1.9 0.1 4 0.0
20318 533 534.4 1.4 1.4 16.1 63 0.1
20319 534.4 536.0 1.6 0.6 8.9 37 0.0
20320 536.0 537.8 1.8 0.2 0.2 2 0.0
20321 537.8 539.7 1.9 1.4 2.7 14 0.1
20322 539.7 541.7 2 0.0 0.0 0 0.0
20323 541.7 543.7 2 0.0 0.0 2 0.1
20324 543.7 545.7 2 0.0 0.0 1 0.0
20326 545.7 547.7 2 0.0 0.0 1 0.0
20327 547.7 549.1 1.4 0.0 0.0 2 0.1
20328 549.1 550.6 1.5 0.0 0.0 1 0.0
20329 550.6 552.0 1.4 0.0 0.0 7 0.3
20330 552.0 554.0 2 0.0 0.0 5 0.2
20331 554.0 556.0 2 0.3 0.2 4 0.1
20332 556.0 558.0 2 0.0 0.1 2 0.1
20333 558.0 560.0 2 0.2 0.1 2 0.0
20334 560.0 562.0 2 1.3 0.5 9 0.0
20335 562.0 564.0 2 1.6 1.0 10 0.0
20336 564.0 566.0 2 0.5 0.3 3 0.0
20337 566.0 568.0 2 1.1 0.6 6 0.0
20338 568.0 570.0 2 0.9 0.4 4 0.0
20339 570.0 571.0 1 7.3 2.6 27 0.1
20340 571.0 572.8 1.8 0.0 0.0 2 0.0
20341 572.8 573.4 0.6 17.1 20.1 134 0.4
20342 573.4 574.9 1.5 2.6 0.6 22 0.0
20343 574.9 576.1 1.2 3.3 0.8 10 0.0
20344 576.1 578.0 1.9 0.0 0.0 0 0.0
20345 578.0 580.0 2 0.0 0.0 0 0.0
20346 580.0 582.0 2 0.0 0.0 0 0.0
20347 582.0 584.0 2 0.2 0.1 1 0.0
20348 584.0 586.0 2 0.9 0.3 3 0.0
20349 586.0 588.0 2 0.2 0.0 0 0.0
20351 588.0 590.0 2 6.7 1.4 16 0.1
20352 590.0 592.0 2 4.8 0.8 9 0.0
20353 592.0 594.0 2 1.0 0.4 6 0.0
20354 594.0 596.0 2 4.6 1.3 16 0.1
20355 596.0 598.0 2 7.3 1.9 17 0.1
20356 598.0 600.0 2 8.9 1.7 20 0.1
20357 600.0 602.0 2 8.5 1.9 36 0.2
20358 602.0 604.0 2 13.3 0.4 19 0.2
20359 604.0 605.5 1.5 27.4 0.9 34 0.3
20360 605.5 606.8 1.3 10.4 0.2 17 0.1
20361 606.8 608.2 1.4 3.3 0.5 8 0.1
20362 608.2 610.2 2 0.5 0.0 1 0.0
20363 610.2 612.1 1.9 3.3 0.0 2 0.0
20364 612.1 613.7 1.6 1.9 0.2 3 0.0
20365 613.7 614.6 0.9 22.6 0.7 15 0.1
20366 614.6 616.6 2 0.0 0.0 1 0.0
20367 616.6 618.6 2 0.0 0.0 1 0.0
20368 618.6 620.6 2 0.1 0.0 0 0.0
20369 620.6 622.6 2 0.0 0.0 0 0.0
20370 622.6 624.6 2 0.1 0.7 15 0.5
20371 624.6 626.2 1.6 0.0 0.1 3 0.1
20372 626.2 627.6 1.4 0.0 0.0 4 0.3
20373 627.6 629.4 1.8 0.0 0.0 28 0.5
20374 629.4 631.4 2 0.0 0.0 21 0.2
20376 631.4 633.4 2 0.0 0.0 37 0.5
20377 633.4 635.4 2 0.0 0.0 19 0.3
20378 635.4 637.4 2 0.0 0.0 7 0.1
20380 637.4 640.4 3 0.0 0.0 4 0.1
20381 640.4 643.4 3 0.0 0.0 8 0.2
20382 643.4 646.4 3 0.0 0.1 13 0.4
20383 646.4 649.4 3 0.0 0.0 10 0.2
20384 649.4 652.4 3 0.0 0.0 1 0.1
20385 652.4 654.4 2 0.0 0.0 4 1.0
20386 654.4 656.4 2 0.0 0.0 4 0.3