Hannan Updates Results from 135,700 Hectare 100% Controlled Copper- Silver-GOLD Exploration Projects IN PERU
1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7
Phone: +1 604 685 9316 / Fax: +1 604 683 1585
NEWS RELEASE JUNE 28, 2021
HANNAN UPDATES RESULTS FROM 135,700 HECTARE 100% CONTROLLED COPPER-
SILVER-GOLD EXPLORATION PROJECTS IN PERU
Vancouver, Canada – Hannan Metals Limited (“Hannan” or the “Company”) (TSXV: HAN) (OTCPK:
HANNF) is pleased to provide an update on its 100%-controlled San Martin sediment-hosted copper -silver
project and Previsto copper-gold porphyry project in Peru.
Hannan is a Top 10 in-country Peru explorer with 217,200 hectares (“ha”) (or 2,172 square kilometres (“sq km”)
of tenure, of which 62% (135,700ha/1,357 sq km) is explored in its own right and 38% (81,500 ha/815 sq km)
explored in joint venture with Japan Oil, Gas and Metals National Corporation ("JOGMEC") . JOGMEC has the
o p t i o n t o e a r n u p t o a 7 5 % b e n e ficial interest from Hannan in t he San Martin Project by spending up to
US$35,000,000 to deliver to the joint venture ("JV") a feasibility study/g18/g4
Highlights:
100%-controlled San Martin Hannan sediment-hosted copper-silver project:
At the Ochique prospect, a significant early-stage sediment hosted copper-silver discovery has been
made 20 kilometres north-west of the Tabalosos JOGMEC JV project . Reconnaissance prospecting
has identified high-grade mineralization, with a boulder assaying 1.4% Cu and 21 g/t Ag (Fig 2);
Hannan’s 27,700ha (277 sq km) of 100%-controlled mining concession applications in the area cover
55 kilometres of prospective strike of the potential mineralized horizon;
One field team is currently active in the area conducting strea m sediment sampling over a 45
kilometre by 25 kilometre area.
100%-controlled Previsto copper-gold porphyry project:
Hannan has increased its land position by 11% for a total of 1,054 sq km by staking four new porphyry
copper style exploration targets (Fig 3);
In total Hannan has identified seven new copper-gold porphyry targets at the Previsto Project;
This includes three intrusive ce ntres at the Previsto Norte Tar get with associated Cu-Au-Mo
mineralization in boulders and ou tcrops. It is estimated that < 1% of the bedrock outcrops in the
area;
Two field teams have been mobilized in the area to undertake basin wide stream sediment sampling
and geological prospecting and mapping.
Michael Hudson, CEO, states, "Hannan have defined three incr edibly prospective and large-sc ale targets in
previously poorly explored areas in Peru. The first discovery of sediment-hosted copper-silver mineralization in
100%-controlled Hannan tenure, located 20 kilometres from exciting results flowing from our JOGMEC-Hannan
JV project, is a significant discovery, that demonstrates the regional sc ale and potential across the foreland
basins of Peru, where Hannan holds a significant land position.”
“Additionally, we have recently defined seven intrusive porphyr y copper-gold targets in a previously unknown
mineralized belt within a 140 kilometre by 50 kilometre area at Previsto where Hannan controls more than 1,000
square kilometres of mineral tenure.
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100%-controlled San Martin Hannan sediment-hosted copper-silver project
High-grade copper-silver mineralization has been discovered wit hin the 277 sq km San Martin Hannan project
which is 100%-controlled by Hannan. A boulder discovered during initial reconnaissance assayed 1.4% Cu and
21 g/t Ag. This is the first indication of sediment-hosted copp er mineralization in the north-western Huallaga
Basin. The boulder source represents a small proportion of Hannan’s application in the area, which in total covers
55 kilometres of the prospective strike of the mineralized host unit. Field teams are currently actively carrying
out stream sediment sampling.
100%-controlled Previsto copper-gold porphyry project
The Previsto project, located 300 kilometres south of the 100%-controlled San Martin Hannan sediment-hosted
copper-silver project, defines a previously unknown mineralized belt within a 140 kilometre by 50 kilometre area.
The project continues to grow. Hannan has continued to stake additional ground to keep up with field discoveries
and increased its land position by 11% for a total of 105,400ha (1,054 sq km) by staking four new porphyry
copper style exploration targets (Fig 3).
A t P r e v i s t o , r e g i o n a l e x p l o r a t i on has identified seven intrusio n related porphyry/skarn targets defined by
coincident Cu-Au-Mo-Ag anomalies with lesser Pb-Zn-Sn-W from mu ltiple datasets, including stream sediment
sampling, outcrop and boulder geochemical sampling, geological mapping and airborne magnetics. The nature
of the targets is at an early stage. The entire area is under t hin cover, and it is estimated that <1% of the
bedrock outcrops.
The most advanced of these is located in the northern part of the project area (Previsto Norte Target, Figure 3).
A large number of copper-bearing boulders with different stages of porphyry intrusions have been observed with
strong hydrothermal alteration and B-style quartz-sulphide vein s relating to porphyry mineralization. Values up
to 25.6% Cu and 28 g/t Ag,/g4 (previously report) have been assayed. Gold anomalous boulders are also present
with 0.9 g/t Au and 0.12% Cu assayed from a strongly leached hydrothermal breccia with porphyritic clasts.
The time to grant mining concession applications in Peru takes up to one year. Control of the Previsto and San
Martin Hannan Projects is held 100% through Hannan subsidiaries or in trust via other private companies.
Technical Background
All samples were collected by Ha nnan geologists. Rock and sedim ent samples were transported to ALS in Lima via third
party services using traceable parcels. At the laboratory rock samples were prepared and analyzed by standard methods.
The sample preparation involved crushing 70% to less than 2mm, riffle split off 250g, pulverize split to better than 85%
passing 75 microns. The crushers and pulverizes were cleaned wi th barren material after every sample. Samples were
analyzed by method ME-MS61, a four acid digest preformed on 0.2 5g of the sample to quantitatively dissolve most
geological materials. Analysis is via ICP-MS. Gold was analyzed using method Au-ICP22 on a 50g sample charge. The
method uses fire assay and ICP-AES.
At Previsto, all crushed rejects of rock samples were scann ed u sing TerraSpec® 4HR scanning and aiSIRSITM expert
spectral interpretation.
Sediment samples collected at multiple points of active sedimentation in creeks. They were pre-screened in the field using
a steel sieve and subsequently bagged. At the lab, the samples were first dried at <60o C, sieved to -180 microns. Samples
were analyzed by method AuMe-ST43, a super trace gold and multielement method. An aqua regia digest was performed
on 25g of the sample with ICP-MS analysis.
Grab samples are selective by nature and are unlikely to represent average grades on the property.
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.
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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.
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 for ward-looking information or forward-looking statements, within the meaning of Canadian
securities laws. These statements may relate to this news relea se 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 well as assumptions
made by and information currently available to the Company. The se statements address future events and conditions 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 the statements. These risks and uncertainties include but are no t limited to: the 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 infectious diseases, including the novel COVID-1 9 virus; risks related to negative publicity with respect to th e 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 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 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
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