Hannan Completes a 41 LINE Kilometre Seismic Survey IN Ireland
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE JANUARY 04, 2018
HANNAN COMPLETES A 41 LINE KILOMETRE SEISMIC SURVEY IN IRELAND
Vancouver, Canada – Hannan Metals Limited (“Hannan” or the “Company”) (TSX.V: HAN) (OTCPK: HANNF),
announces completion of a 40.6 line kilometre 2D seismic survey at the Company’s 100%-owned County Clare zinc
project, which hosts the Kilbricken zinc-lead-silver deposit in Ireland. The regional seismic survey is a first for the area
and has delivered a critical new set of subsurface data across Hannan’s 35,444 hectare prospecting licence (Figure 1),
which will form the basis for current and future drill targeting and prioritization.
The survey traversed the most prospective parts of the Clare Basin within Hannan’s prospecting licence and was used to
identify and map geological structures that may host and control base metal mineralization. The Clare Basin is considered
one of the most mineralized belts in Ireland, with the nation’s first base metal discoveries identified in the area in the late
1950’s, with continued success including the recent identifi cation of Kilbricken. Hanna n’s seismic survey propels
understanding of the architecture and geological prospectivity of the Clare Basin, in a manner not previously possible.
Key Points:
A 40.6 line kilometre 2D seismic survey has been comp leted at Hannan’s County Clare 100% owned prospecting
licence area across a 12 x 14 kilometre section of the Clare Basin (Figure 1);
Seismic surveying is not a common techni que used in hard rock mineral exploration, but is the basis of most
discoveries made in the oil and gas industry. Hannan is one of only a few mineral exploration companies to apply
this method;
Preliminary interpretation of new seismic data has imme diately highlighted previously unrecognised structural
features;
Two drill rigs will restart operations next week after the Christmas break, with the continued aim to step out from
the existing resource area at Kilbricken and target adjacent base metal mineralized bodies.
Mr. Michael Hudson, CEO and Chairman, states: “The geologically ground-breaking regional 2D seismic survey has
delivered the unique and exciting opportunity to map previo usly unknown large sub-surface structures in south-west
Ireland. These structures have the potent ial to host mineral deposits and will allow for effective drill targeting through
2018. We thank the people of Clare for their patience and understanding during the execution of this large survey.”
The seismic survey was carried out by Gallego Technic Geophy sics and Rees Onshore Seismic Ltd. A total of 34 people
were employed to perform the survey. Three north-south lines and one east-west tie line were completed to test for
structures in multiple orientations (Figure 1). Processing of the significant amount of data will take many months and
tenders have already been solicited.
About Hannan Metals Limited (TSX.V:HAN) (OTCPK: HANNF)
Hannan Metals Limited has 100% ownership of the County Clare Zn-P b-Ag-Cu project in Ireland, which consists of 9 prospecting
licences for 32,223 hectares. Zinc remains in tight supply amidst rising demand and st agnant supply. Ireland is a leading glo bal
jurisdiction for zinc mining an d exploration. In 2015, Ireland was the world’s 10th largest zinc producing nation with 230,000 tonnes
produced.
The maiden mineral resource, dated July 10, 2017, immediately ranked Kilbricken as one of the top ten base metal deposits discovered
in Ireland by tonnes and grade. Total indica ted mineral resources 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 resources of 1.7 million tonnes at 8.2% ZnEq, including
0.6 million tonnes at 10.4% ZnEq.
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.
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Mr. Michael Hudson FAusIMM, Hannan’s Chairman and CEO, a Qualified Person as defined in National Instrument 43-101, has reviewed
and approved the technical disclosure contained in this news release.
NI 43-101 Technical Report:
On August 22, 2017, Hannan filed an independent National Instru ment 43-101 Technical Report (the “NI 43-101 Technical Report”) on
The Mineral Resource Estimate for the Kilbricken Zinc-Silver-Lead-Copper Project Co. Clare, Ireland For Hannan Metals Ltd in support of
the Company’s news release dated July 10, 2017 . The NI 43-101 Technical Report was authored by Mr. Geoff Reed of Reed Leyton
Consultants and Dr. John Colthurst who are independent “qualified persons” as defined by National Instrument 43-101. The NI 43-101
Technical Report may be found under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website
at www.hannanmetals.com.
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 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 result s, expected cash costs based on the Company’s current internal expectations,
estimates, projections, assumptions and beliefs, which may prove to be incorrect. These statements are not guarantees of future performance and
undue reliance should not be placed on th em. Such forward-looking statements necessarily involve known and unknown risks and un certainties, which
may cause the Company’s actual performance and financial results in future periods to differ materially from any projects of fu ture performance or
results expressed or implied by such forward-looking statement. These risks and uncertainties include, but are not limited to: The Company’s
expectations regarding the current drill program, liabilities inhe rent in mine development and production, geological risks, th e financial markets
generally, and the ability of the Company to raise additional ca pital 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 materially from those anticipated in su ch statements. The
Company undertakes no obligation to update forward-looking statemen ts if circumstances or management’s estimates or opinions should change except
as required by applicable securities laws. The reader is cautioned 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.
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