Hannan Expands Portfolio BY 100% to 1869 Sq Km, Becomes Top 10 Tenure Holder IN PERU
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE JANUARY 14, 2021
HANNAN EXPANDS PORTFOLIO BY 100% TO 1869 SQ KM, BECOMES TOP 10 TENURE
HOLDER IN PERU
Vancouver, Canada – Hannan Metals Limited (“Hannan” or the “Company”) (TSXV: HAN) (OTCPK:
HANNF) is pleased to announce that is has significantly increased its Peruvian mineral tenure holdings by 100%
to a total 1,864 square kilometers (186,400 hectares) of granted mineral concessions and applications. The
additional 932 square kilometers of applications will be explored by Hannan in its own right.
Key points:
Hannan has increased its Peruvian mineral tenure holdings to 1,869 square kilometres (186,900 hectares)
by staking an additional 932 square kilometres pros pective for back-arc alkalic high level porphyry
copper-gold systems (the “Previsto Project”) in central eastern Peru;
With this increased tenure, Hannan becomes a top 10 concession holder in Peru (considering combined
granted concessions and applications). The top 10 is dominated by some of the world’s largest
exploration and mining companies and Hannan stands out as one of the very few juniors to acquire such
a significant land position (Table 1);
These new areas will be explored alongside Hannan’s existing pr ojects in San Martin, located
approximately 250 kilometres north of Previsto (Figure 1)which include:
o 660 sq km (65,989 hectares) optioned and joint ve ntured in San Martin with Japan Oil, Gas and
Metals National Corporation (" JOGMEC"), as announced on November 30, 2020 (“San Martin
JV Project”). Under the JOGMEC Agreement, JOGMEC has the option to earn up to a 75%
beneficial interest in the San Martin JV Project by spending up to US$35,000,000 to deliver to the
joint venture a feasibility study;
o 278 sq km (27,700 ha) 100% owned by Hannan in the San Martin area for sediment-hosted
copper and silver, outside of current joint venture areas (“San Martin Hannan Project”) (Figure
1);
Field teams have already been mobilized to the Prev isto Project area and initial reconnaissance field
results and a more detailed geological overview will be released soon;
Michael Hudson, CEO states, “Late last year, Hannan concluded one of the strongest joint ventures in the junior
space with JOGMEC in San Martin. Over the last 6 months, the lock-down has provided a unique opportunity to
build a two-pronged Peruvian strategy. We now have secured a vast and extremely prospective copper-gold
landholding in our own right, that we will actively explore alongside our JOGMEC partnership and own holdings
in San Martin. Some of the world’s largest mining co mpanies (Table 1) share our belief that big grassroots
discoveries are best made within big land positions, and we are now looking to repeat and define another large
mineralizing system in 2021 in Peru’s new frontier areas.”
Hannan’s aggressive staking has led it to become a top 10 concession holder in Pe ru (considering combined
granted concessions and applications). As of the end of 2020, in Peru there were a total of more than 15,000
companies or individuals who held more than 20 million hectares. Thirty-two holders have more than 1,000 sq
km (100,000 Ha). The top ten Peruvian tenure holders average US$50B market capitalization and combined
hold 18.0% of the tenure held in Peru.
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The Previsto Project, which comprises 906 sq km of mining concession applications, demonstrates the Company’s
strategy to open new search spaces and apply disruptive exploration models to previously unexplored terrain.
The new areas were identified over the last 6 months via remote studies and reprocessing government Petroleum
exploration data. The new search spac e is interpreted to be highly prospe ctive for back-arc alkalic porphyry
copper-gold systems. Historically, Ingemmet, Peru’s Geological, Mining and Metallurgical Institute, has identified
late Oligocene to late Miocene age intrusions in these back arc settings close to Hannan’s new applications areas.
Additionally Hannan has staked 26 sq km mining concession applications prospective for gold in Peru.
With field crews active on the Previsto Project, further information on this and other new areas will be made as
it becomes available. The time to grant mining concession applications in Peru takes up to one year. One hundred
percent ownership of the Previsto Project is held thro ugh Hannan subsidiaries or in trust via other private
companies.
About Hannan Metals Limited (TSXV:HAN) (OTCPK: HANNF)
Hannan Metals Limited is a natural resources and expl oration company developing sustainable resources of
metal needed to meet the transition to a low carbon economy. Over the last decade, the team behind Hannan
has forged a long and successful record of discovering, financing, and advancing mineral projects in Europe and
Peru.
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.
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, including the Company’s expectations regarding the Agreement and the payments and earn-in upon the
successful completion of certain milestones, may constitute forward-looking information or forward-looking statements, within t he meaning of Canadian
securities laws. These statements may relate to this news rele ase and other matters identified in the Company's public filings. In making the forward-
looking statements the Company has applied certain factors and assumptions that are based on the Company's current beliefs as w ell as assumptions
made by and information currently available to the Company. These statements address fu ture events and condit ions and, as such, involve known and
unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future
results, performance or achievements expressed or implied by th e statements. These risks and unc ertainties include but are not limited to the potential
impact of epidemics, pandemics or other public health crises, including the current coronavirus pandemic known as COVID-19 on the Company’s business.
Readers are cautioned not to place undue reliance on forward-look ing statements. The Company does not intend, and expressly dis claims any intention
or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or othe rwise, except as required
by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ventu re Exchange) accepts
responsibility for the adequacy or accuracy of this news
Table 1: Top ranked Peruvian tenure holders at the end of December 2020, considering granted mining concession and application. The table highlights
ranked area under tenure and market capitalization. Source: https://geocatmin.ingemmet.gob.pe/geocatmin/
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