Hannan Announces C$2.6 Million Strategic Investment

1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7

Phone: +1 604 685 9316 / Fax: +1 604 683 1585

NEWS RELEASE SEPTEMBER 20, 2022

HANNAN ANNOUNCES C$2.6 MILLION STRATEGIC INVESTMENT

Vancouver, Canada – Hannan Metals Limited (“Hannan” or the “Company”) (TSXV: HAN) (OTCPK:

HANNF) is pleased to announce that Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK)

(“Teck”) has agreed to make a strategic investment in the Company by wa y of a private placement financing

(the “Private Placement”).

Pursuant to the Private Placement, Teck will subscribe for 9,180,000 common shares (the “Common Shares”)

o f H a n n a n a t a p r i c e o f $ 0 . 2 8 p e r C o m m o n S h a r e ( t h e “Issue Price ”) for gross proceeds to Hannan of

approximately C$2.57 million. Prior to the Private Placement, Teck held no securities of Hannan. Upon closing

of the Private Placement, it is expected that Teck will hold 9.0% of the issued common shares of Hannan. No

finder’s fees or commissions are payable on the Private Placement. Closing of the Private Placement is expected

to occur on or before October 7, 2022 (the “Closing Date”), subject to certain customary conditions, including,

but not limited to, the receipt of all necessary regulatory approvals and acceptance of the TSX Venture Exchange.

The Common Shares will be subject to a statutory hold period of four months plus a day following the Closing

Date.

Michael Hudson, CEO, states,“Teck's investment in Hannan is a demonstrable vote of confidence in the technical

merits of the Company's projects as well as our team. Over the last two years Hannan has recognized the

significant potential for large copper-gold-silver deposits in P e r u a n d h a s a g g r e s s i v e l y s t a k e d a l a r g e a n d

commanding top 10 tenure position in-country. This bold grassroots strategy has attracted some of the largest

industry participants to partner with Hannan, with both Teck an d JOGMEC now involved at equity and joint

venture levels, respectively.

“With Teck’s involvement, we now look forward to accelerating o ur exploration efforts at the Valiente project,

which is located approximately 20 km east from the township of Tingo Maria in central Peru. Valiente forms a

previously unknown Miocene-age mineralized belt within a 140 km by 50 km area, where Hannan’s exploration

team of six geologists and support team has identified at least seven intrusion related porphyry/epithermal/skarn

targets.”

In connection with the Private Placement, Hannan has agreed to grant Teck an equity participation right to

maintain its pro-rata ownership in Hannan, for so long as Teck’ s ownership in Hannan remains greater than

5.0%. In addition, Hannan has granted Teck a price protection right, pursuant to which, if within 90 days of the

Closing Date Hannan issues common shares under certain transactions, at a price per common share that is less

than the Issue Price (the “Lower Price”), Teck shall be entitled to receive from the Company (for no additional

consideration) additional common shares in an amount such that, when added to the number of common shares

purchased on the Clo sing Date, will equal the number of Common Shares that the aggregate Issue Price paid

by Teck on the Closing Date would have purchased at the Lower Price.

The Company intends to use the net proceeds from the Private Pl acement for exploration on the Company’s

mineral exploration projects in Peru and Ireland, and for working capital and general corporate purposes.

This news release does not constitute an offer to sell or a sol icitation of an offer to buy nor shall there be any

sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The

securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended

(the "U.S. Securities Act"), or the securities laws of any state of the United States, and may not be offered or

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sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under

the U.S. Securities Act) absent registration under the U.S. Sec urities Act and applicable state securities laws or

an exemption from such registration requirements.

About Hannan Metals Limited (TSXV:HAN) (OTCPK: HANNF)

Hannan Metals Limited is a natural resources and exploration co mpany developing sustainable resources of metal needed

to meet the transition to a low carbon economy. Over the last d ecade, the team behind Hannan has forged a long and

successful record of discovering, financing, and advancing mine ral projects in Europe and Peru. Hannan is a top ten in-

country explorer by area in Peru.

On behalf of the Board,

"Michael Hudson"

Michael Hudson, Chairman & CEO

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 disclosure contained in this news release may constitut e forward-looking information or forward-looking

statements, within the meaning o f Canadian securities laws, inc luding statements regarding the closing of the Private Placemen t, receipt of regulatory

approvals and intended use of the net use of proceeds of the Pr ivate Placement. These statements may relate to this news relea se and other matters

identified in the Company's public filings. In making the forwa rd-looking statements the Company has applied certain factors a nd assumptions that are

based on the Company's current beliefs as well as assumptions m ade by and information currently available to the Company. Thes e statements address

future events and conditions and , a s s u c h , i n v o l v e k n o w n a n d u nk n o w n r i s k s , u n c e r t a i n t i e s a n d o t h e r f a c t o r s w h i c h m a y c a u s e t he actual results,

performance or achievements to be materially different from any future results, performance or achievements expressed or impli ed by the statements.

These risks and uncertainties include but are not limited to: t he successful completion of the Private Placement; the proposed use of the net proceeds

received from the Private Placement; political environment in which the Company operates continuing to support the development and operation of mining

projects; the threat associated with outbreaks of viruses and i nfectious diseases, including the novel COVID-19 virus; risks r elated to negative publicity

with respect to the Company or the mining industry in general; planned work programs; permitting; and community relations. Readers are cautioned not

to place undue reliance on forward-looking statements. The Comp any does not intend, and expressly disclaims any intention or o bligation to, update or

revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Pr ovider (as that term is defined in the policies of the TSX Vent ure Exchange) accepts

responsibility for the adequacy or accuracy of this news.