Hannan Expands San Martin Copper-Silver Project Portfolio to 937 Sq Km
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE DECEMBER 21, 2020
HANNAN EXPANDS SAN MARTIN COPPER-SILVER PROJECT PORTFOLIO TO 937 SQ KM
Vancouver, Canada – Hannan Meta ls Limited (“Hannan” or the “Company”) (TSXV: HAN) (OTCPK:
HANNF) is pleased to announce that it has significantly increased its mineral tenure holdings in the San Martin
district of Northern Peru to a total 937 square kilometers (“sq km”) (93,700 hectares (“ha”)) of applications and
granted mineral concessions prospective for sediment hosted copper-silver mineralization.
Key points:
Hannan has increased its mineral tenure holdings in Sa n Martin to 937 sq km by staking an additional
278 sq km (27,700 ha) for sediment-hosted copper and silver that is 100% owned by Hannan outside of
current joint venture areas (“San Martin Hannan Project”) (Figure 1);
These new areas will be explored alongside the 660 sq km (65,989 hectares) that Hannan has optioned
and joint ventured in San Martin with Japan Oil, Gas and Metals National Corporation (" JOGMEC"), as
announced on November 30, 2020 (“San Martin JV Project”).
o Under the JOGMEC Agreement, JOGMEC has the opti on to earn up to a 75% beneficial interest
in the San Martin Project by spending up to US$35,000,000 to deliver to the joint venture (“JV”)
a feasibility study.
Michael Hudson, CEO states, “Hannan and JOGMEC recently concluded one of the strongest joint ventures made
in the junior exploration space over the last year. In the last 6 months, we have been working to build a dual
Peruvian strategy of a hybrid prospect-generator. We have now secured a vast and extremely prospective
landholding on the San Martin Hannan Project that we own outright, while actively exploring large areas defined
within our fully-funded JOGMEC partnership at the San Martin JV Project.”
The additional 278 sq km of mining concession applications demonstr ate the Company’s strategy to open new
search spaces and apply disruptive exploration models to previously unexplored terrain. The new areas were
identified during a stereographic geological remote study using detailed terrain corrected topographic elevation
data and the Sentinel-2 super-spectral satellite data fr om the European Space Agency (ESA). The resultant
geological and target map highlighted the new strataboun d 278 sq km of copper-silver target areas that were
subsequently staked as the San Martin Hannan Project.
Further information on the San Martin Hannan Pr oject will be made as it becomes available. The time to grant
mining concession applications in Peru takes up to one year.
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.
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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 release 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 uncertainties include but are not limited to the potential
impact of epidemics, pandemics or other public health crises, including the current outbreak of the novel coronavirus known as COVID-19 on the Company’s
business. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any
intention or obligation 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 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
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