Hannan Discovers Zinc Mineralized Outcrops 600 Metres from Kilbricken, Ireland
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE May 7, 2018
HANNAN DISCOVERS ZINC MINERALIZED OUTCROPS 600 METRES FROM KILBRICKEN, IRELAND
Vancouver, Canada – Hannan Metals Limited (“Hannan” or the “Company”) (TSX.V: HAN) (OTCPK: HANNF)
is pleased to announce discovery of new lead and zinc mineralization in outcrop approximately 600 metres north from the
Company’s Kilbricken zinc-lead-silver resource in County Clare, Ireland.
Key points:
Multiple occurrences of coarse grained galena (lead sulphide) and sphalerite (zinc sulphide) have been discovered
in rocks exposed by recent forest cutting over an area of 70 metres by 60 metres at Finanagh (Figure 1);
Correlates with extremely high lead (up to 2,650ppm) and zinc (up to 921ppm) values in soil samples;
Outcrops comprise immediate drill targets that have never been drill tested (Figure 2);
Mr Michael Hudson, Chairman & CEO states, “It is extremely uncommon to find outcropping mineralization in Ireland. Most
surface occurrences were located during Victorian times, and it was only a recent forest clearing program which allowed
our geologists to make this promising new discovery at Finanagh.
To highlight the potential significance of this find, Hannan’s Kilbricken deposit was first discovered in 2008 when a private
Irish exploration company drilled beneath similar galena, sphalerite and calcite veined shelf carbonates at a small Victorian-
era lead mine. The discovery hole, DH04, intersected 10 metr es @ 13.8% zinc, 5.5% lead and 62.8g/t silver from 448.1
metres depth.”
“All large Irish base metal mines are known to be comprised of clusters of individual deposi ts. At Kilbricken two such
deposits have thus far been drilled, and a discovery like this in outcrop delivers great encouragement that many additional
deposits remain to be found in close proximity. Along with the many high-quality targets identified by the recent seismic
survey, we look forward to drill testing the Finanagh outcrop discovery when drill rigs return to the project this summer.”
Hannan’s geologists were encouraged to undertake soil sampling at Finanagh to test positive features recognized in the
recent seismic structural re-interpretation. This discovery of extremely high lead (up to 2,650ppm) and zinc (up to 921ppm)
values in soil samples subsequently led to the discovery of sub-cropping mineralization in a recently deforested area. The
discovery consists of 14 subcrops across 70 metres by 60 metres where mineralization is hosted by fine grained limestone
with veins and disseminated coarse galena and sphalerite. Pyrite is present as an accessory sulphide (Photos 1 and 2).
The new discovery at Finanagh is part of the 12 kilometres of strike potential around Kilbricken, within which it presents a
priority drill target due to the combined presence of high ly anomalous soil samples, mapped structure and outcropping
mineralization. The area has not previously been drill tested, and it is interpreted that the potentially mineralized host rock
position (Waulsortian Limestone) will lie at shallower depths (250 metres) than at Kilbricken (Figure 2).
About Hannan Metals Limited (TSX.V:HAN) (OTCPK: HANNF)
Hannan Metals Limited has 100% ownership of the County Clare Zn-Pb-Ag-Cu project in Ireland, which consists of 9 prospecting licences
for 35,444 hectares. Zinc remains in tight supply amidst rising demand an d 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.
The maiden mineral resource1, dated July 10, 2017, immediately ranked Kilbricken as one of the top ten base metal deposits discovered
in Ireland by tonnes and grade. Total indicated 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 ho lds extensive zinc experience, gained from the wo rld’s largest integrated zinc producer of the 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 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 performance 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: The Company’s expectations regarding the current
drill program, 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 materially from those anticipated in such statements. The Company undertakes no obligation to up date forward-looking
statements 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.
Photo 1 and 2: Coarse grained galena (silver colour – lead su lphide) and sphalerite (brown colour- zinc sulphide) hosted
within calcite and limestone.
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