Hannan Metals Limited (“Hannan” or the “Company”) (TSXV: HAN) (OTCPK: HANNF) announces new sampling results from the northern part of the Sacanche claim application area (8,900 hectares) from the 100% owned San Martin project (38,40 0 hectares under claim applicati

1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7

Phone: +1 604 685 9316 / Fax: +1 604 683 1585

NEWS RELEASE AUGUST 01, 2019

HANNAN SAMPLES 2 METRES @ 5.9% COPPER AND 66 g/t SILVER IN OUTCROP FROM

SACANCHE, PERU

Vancouver, Canada – Hannan Metals Limited (“Hannan” or the “Company”) (TSXV: HAN) (OTCPK:

HANNF) announces new sampling results from the northern part of the Sacanche claim application area (8,900

hectares) from the 100% owned San Martin project (38,40 0 hectares under claim application) in north central

Peru (Figure 1).

Highlights:

 Rock chip channel samples from outcrop separated by 5.4 kilometres:

o 2 metres @ 5.9% copper and 66 g/t silver with the wider zone assaying 3 metres @ 4.1

% copper and 45 g/t silver (Figure 2);

o 0.6 metres @ 8.7% copper and 59 g/t silver (Figure 2);

 High-grade grab sample from float assayed 30.1% copper and 595 g/t silver within close proximity

to channel samples (Figure 2);

 Multiple mineralized stratigraphic positions and styl es have now been defined across the property. Two

bituminous quartz sandstones from the Cushabatay Formation returned 2.6% to 2.8% copper and

36 to 50 g/t silver confirming the copper/silver potential of this thick sandstone horizon. Lead-zinc

bearing gossans greater than 50m in thickness have been discovered across an 11 kilometre strike;

 The footprint of mineralization at Sacanche has now been defined within a 27 kilometre strike.

Michael Hudson, Hannan’s CEO, states, “In our first exploration field season at Sacanche, sediment-hosted

copper-silver mineralization has been discovered across 27 kilometres of strike. Mineralization has been defined

within multiple stratigraphic levels. Our initial expectations have been exceeded and the concept of a new copper

district is well supported by data. Further prospecting results from south Sacanche and Tabalosos, located 80

kilometres to the north, will follow over the coming months as further result s from the field season start to be

received.”

Channel samples are considered representative of the in-situ mineralization samples and sample widths quoted

approximate the true width of minera lization, while grab samples are sele ctive by nature and are unlikely to

represent average grades on the property.

Geological Discussion

High grade copper mineralization has been discovered in multiple mineralized positions at Sacanche, over a 27

kilometre strike. Two distinct sub-types of the sediment hosted copper style are described throughout Hannan’s

claim application areas:

1. The first style is hosted by the Cushabatay Formation:

 Mineralization in quartzites with hydrocarbon metal traps, analogous to the giant Udokan copper

deposit in Russia and Spar Lake in the USA. This is the first time this style of mineralization has

been described in the target area.

 The Cushabatay Formation hosts >50-metre-thick gossanous outcrops with zinc-lead across 11

kilometres of strike, that is interpreted to form distally to copper-silver mineralization.

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 The discovery of two bituminous quartz sandstones from the Cushabatay Formation that assayed

2.6% to 2.8% copper and 36 – 50 g/t silver conf irms the copper-silver po tential of this thick

sandstone horizon.

2. The second style is hosted by the Sarayaquillo Formation:

 Mineralization is associated with reduced facies within red beds, where petrographic studies show

copper sulphides replace both pyrite and organic material. This style is similar to copper

mineralization associated with Zechstein Basin in Poland and Central African Copper Belt.

 Copper within the Sarayaquillo Formation has been discovered throughout Hannan’s claim

application and extends along an 80 kilometre trend from Tabalosos to Sacanche.

 Evidence for this style is demonstrated by the high grade copper in channel samples reported

here at Sacanche (i.e. 2 metres @ 5.9% copper and 66 g/t silver) and by the initial sampling by

Hannan in 2018 that discovered four areas of high-grade copper and silver over 15 kilometres of

strike within the Tabalosos claim application area. Nineteen grab samples from mineralized float

in river beds (>0.1% copper) ranged in grade from 0.1% to 8.3% copper and 0.2 g/t silver to

109 g/t silver with an average grade of 2.8% copper and 27.2 g/t silver.

 The Sarayaquillo Formation/Cushabatay Formation contact is an angular erosional unconformity

that is interpreted to relate to salt tectonics (halokinesis).

Hannan’s interpretation is that copper and silver were deposited from low ‐temperature oxidised saline brines

formed from the several hundred metre thick Pareni Salt Formation. The brines scavenged metals (principally

copper ± silver and associated lead and zinc) from th e deeper Mitu Group red beds and volcaniclastics which

were deposited in a failed Traissic rift. The circulatio n of saline fluids across th e redox boundary was induced

and focused by halokinesis. Geological relationships suggest halokinesis was initiated during Jurassic rifting and

was active until the early to mid-Cretaceous which coincides with the formation of an Andean foreland basin.

In other news, two claim applications with a tota l area of 2,000 hectares has been submitted to Ingemmet,

covering high grade copper mineralization at Sacanche North.

Management of Hannan have significant prior experience in Peru, which is the world’s second largest copper

producer. The country's copper output is forecast to increase from 2.5 million tonnes (“Mt”) in 2018 to 3.8Mt by

2027, averaging 4.7% annual growth. Sediment-hosted deposits are the world’s second-most important source

of copper accounting for approximately 20% of world production.

About Hannan Metals Limited (TSX.V:HAN) (OTCPK: HANNF)

Hannan Metals Limited is a natural resources and exploration company developing sustainable and ethical 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 information set forth in this news release contains “for ward-looking statements”, and “forward- looking information” un der applicable securities laws. Except for

statements of historical fact, certain information contained he rein constitutes forward-looking statements, which include the C ompany’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 incorrect. 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, which may cause the Company’s actual performance and financial results in future periods to differ materially from any

projects of future 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 timing to complete field work and outcom e of results, the granting of the claim applications in Peru, co mmunity relations, 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

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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 update forward-looking st atements 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 Regu lation 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 release.

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