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Channel samples accommodate 2.0 metres @ 4.9% chestnut and 62 g/t silver

VANCOUVER, BC / ACCESSWIRE / March 9, 2021 / Hannan Metals Bound ("Hannan" or the "Company") (TSXV:HAN)(OTC PINK:HANNF) provides appraisal after-effects from the aboriginal bulge copper-silver discoveries from the Tabalosos activity captivated aural the San Martin JOGMEC JV sediment-hosted copper-silver activity in Peru (Figures 1 and 2).

Highlights:

First aerial brand copper-silver bulge discoveries from the Tabalosos activity captivated aural the San Martin JOGMEC JV sediment-hosted copper-silver activity in Peru. Outcrops accept been delineated in two areas: Zona Este and Zona Sur that bang over a accumulated 2.5 kilometres. The discoveries were fabricated by afterward up mineralized float samples in creeks begin in 2019 by Hannan (Figure 2).;

Zona Sur consists of twelve channel-sampled outcrops over 500 metres of strike. Added analytical sampling is appropriate to actuate the abounding amplitude of mineralization. Best approach after-effects accommodate (Figure 3):

2.0 metres @ 4.9% chestnut and 62 g/t argent (partially sampled);

6.2 metres @ 0.8% chestnut and 19 g/t argent (full sample);

0.4 metres @ 6.3% copper, 152 g/t argent (partially sampled);

0.4 metres @ 7.2% copper, 163 g/t argent (partially sampled);

Zona Este consists of four channel-sampled outcrops aural an breadth of 80 metres by 120 metres. Added analytical sampling is appropriate to actuate the abounding amplitude of mineralization. Best approach after-effects accommodate (Figure 3):

1.0 accent @ 6.3% chestnut and 101 g/t argent (partially sampled);

1.8 metres @ 3.7% chestnut and 42 g/t argent (partially sampled);

2.2 metres @ 2.4% chestnut and 29 g/t argent (full sample);

Hannan continues to assignment with abutment and permission from all stakeholders at San Martin and interacts carefully with bounded communities.

Michael Hudson, CEO, states: "San Martin continues to bear aerial brand chestnut and argent at scale. These are the aboriginal aerial bulge discoveries begin by our aggregation at Tabalosos, by adventure acceptable prospecting and geological work. Given the challenges in authoritative apparent discoveries with the absolute clay and colluvial cover, teams are now in the acreage accession abundant and analytical clay samples to map and infill the mineralized border amid outcrops over assorted kilometres."

Story continues

The San Martin Activity is amid in north-eastern Peru. Activity admission is accomplished via a adjacent paved highway, while the distance ranges from 400 metres to 1,600 metres in a arena of aerial condensate and predominantly backwoods cover. Hannan has staked a absolute of 88 mineral concessions for a absolute of 65,600 ha (656 sq kms), accoutrement assorted trends aural a 120 km of accumulated bang for sedimentary-hosted copper-silver mineralization. A absolute of 43 accepted mining concessions for 329 sq km accept been granted, while the blow abide beneath application. The Tabalosos activity is amid 80 kilometres arctic of Sacanche breadth beforehand assignment by Hannan at San Martin has articular a 20 kilometre bang trend which includes approach samples such as 2.0 metres @ 5.9% chestnut and 66 g/t silver, 0.6 metres @ 8.7% chestnut and 59 g/t argent and 3.0 metres @ 2.5% chestnut and 22 g/t silver.

The new aftereffect mineralized discoveries accept been delineated in two areas: Zona Este and Zona Sur that bang over a accumulated 2.5 kilometres (Figure 2, 3). Best of the aftereffect areas are covered by colluvial awning that accomplish it difficult to sample beyond the abounding amplitude of mineralization and accordingly added analytical sampling is required, in abounding cases, to actuate the abounding amplitude of mineralization.

Zona Sur consists of twelve channel-sampled outcrops over 500 metres of strike, with beforehand bedrock discoveries extending the breadth to a minimum of 700 metres bang (Figure 3). Zona Este consists of four channel-sampled outcrops aural an breadth of 80 metres by 120 metres. Added analytical sampling is appropriate to actuate the abounding amplitude of mineralization in both areas. Bigger approach after-effects accommodate (Figure 3) are listed in Point 2 and 3 appropriately of the highlights aloft and apparent in Figures 2 and 3.

The new bulge discoveries were fabricated at the top of the Sarayaquillo Formation by afterward up mineralized float samples in creeks begin in 2019 by Hannan that authentic a 30 kilometre trend hosting copper-silver mineralization with four key zones authentic over a 5 kilometre cantankerous bang width. At Tabalosos two mineralized ambition styles accept been authentic by Hannan geologists:

A stratabound position in the high levels of the Sarayaquillo Formation, authentic by the attendance of bits amoebic absolute that hosts high-grade copper-silver mineralization. This breadth is activated over a 30- kilometre-long trend and over 5 kilometres in amplitude beyond the Tabalosos activity breadth and is the aforementioned mineralized stratigraphic akin articular in bulge at Sacanche, amid 80 kilometres to the south.

A structurally controlled sandstone hosted copper-silver ambition has been articular in the southern allotment of the project. This breadth is 7 kilometres continued and up to 5 kilometres advanced in Tabalosos.

Peru currently charcoal with COVID-19 lockdown restrictions, and Hannan's acreage assignment was suspended, as a result, through February 2021. With COVID-safe assignment practices, including the enactment of a committed Hannan acreage abject in Tarapoto, abstruse and amusing teams accept been remobilized aback into the acreage during the added anniversary of March. Hannan's cardinal one antecedence is the health, assurance and abundance of our employees, stakeholders and communities. We attending advanced to the befalling to acknowledgment to the field, and we will abide to abutment the San Martin communities while alive to derisk and beforehand our ability of the all-inclusive mineral arrangement arising in the region. Hannan abide to assignment with abutment and permission from all stakeholders including bounded communities in San Martin.

About the San Martin JOGMEC JV Activity (Copper-Silver, Peru, 88 mining concessions for 660 sq km)

On November 30, 2020 Hannan appear that it had active a bounden letter acceding for a cogent Advantage and Collective Adventure Acceding (the "Agreement") with JOGMEC. Beneath the Agreement, JOGMEC has the advantage to acquire up to a 75% benign absorption in the San Martin Activity by spending up to US $35,000,000 to bear to the collective adventure ("JV") a achievability study.

The Acceding grants JOGMEC the advantage to acquire an antecedent 51% buying absorption by allotment US $8,000,000 in activity expenditures at San Martin over a four-year period, accountable to dispatch at JOGMEC's discretion. JOGMEC's minimum allegation is to armamentarium US $1,000,000 from April 1, 2020 to March 31, 2021 and JOGMEC has agreed to balance the Aggregation for all activity accompanying costs from April 1, 2020. JOGMEC, at its election, can again earn:

an added 16% absorption for a absolute 67% buying absorption by accomplishing either a prefeasibility abstraction or allotment a added US $12,000,000 in activity expenditures in amounts of at atomic US $1,000,000 per annum (for a US $20,000,000 absolute expenditure); and,

subject to owning a 67% interest, a added 8% absorption for a absolute 75% buying absorption by accomplishing either a achievability abstraction or allotment a added US $15,000,000 in activity expenditures in amounts of at atomic US $1,000,000 per annum (for a US $35,000,000 absolute expenditure).

Should JOGMEC not advance to a prefeasibility abstraction or absorb US $20,000,000 in total, Hannan shall accept the appropriate to acquirement from JOGMEC for the sum of US $1, a two percent (2%) Participating Interest, whereby Hannan's Participating Absorption will be added to fifty-one percent (51%) and JOGMEC's Participating Absorption will be bargain to forty-nine percent (49%). At the achievement of a achievability study, JOGMEC has the appropriate to either:

purchase up to an added ten percent (10%) Participating Absorption from Hannan Metals (for a absolute 85% best capped Participating Interest) at fair amount as bent in accordance with internationally accustomed able standards by an agreed aloft absolute third-party valuator; or

receive up to an added ten percent (10%) Participating Absorption from Hannan (for a absolute 85% best capped Participating Interest) in application of JOGMEC's acceding to armamentarium development of the project, by accommodation accustomed Hannan until the San Martin Activity generates absolute banknote flow.

After US $35,000,000 has been spent by JOGMEC and afore a achievability abstraction has been achieved, both parties will armamentarium expenditures pro rata or adulterate via a accepted industry concoction formula. If the Participating Absorption in the Collective Adventure of any affair is adulterated to beneath than 5% again that party's Participating Absorption will be automatically adapted to a 2.0% net smelter ability ("NSR"), and the added affair may at any time acquirement 1.0% of the 2.0% NSR for a banknote acquittal of US $1,000,000. Hannan will administer analysis at atomic until JOGMEC earns a 51% interest, afterwards which the majority actor absorption holder will be advantaged to act as the abettor of the collective venture. Antecedent analysis activities will focus on the accumulating of the geological, geophysical, and geochemical datasets in the JV activity areas. The aboriginal appearance of analysis is accepted to achieve March 2021.

Sediment-hosted stratiform copper-silver deposits are amid the two best important chestnut sources in the world, the added actuality chestnut porphyries. They are additionally a above ambassador of silver. According to the Apple Argent Survey 2020 KGHM Polska Miedz's ("KGHM") three copper-silver sediment-hosted mines in Poland are the arch argent ambassador in the apple with 40.2Moz produced in 2019. This is about alert the assembly of the added bigger bearing mine. The Polish mines are additionally the sixth bigger all-around chestnut miner and in 2018, KGHM produced 30.3 Mt of ore at a brand of 1.49% chestnut and 48.6 g/t argent from a mineralized breadth that averages 0.4 to 5.5 metres thickness.

Technical Background

All samples were calm by Hannan geologists. Bedrock and debris samples were transported to ALS in Lima via third affair casework application traceable parcels. At the class bedrock samples were able and analyzed by accepted methods. The sample alertness complex crushing 70% to beneath than 2mm, riffle breach off 250g, abrade breach to bigger than 85% casual 75 microns. The crushers and pulverizes were bankrupt with arid absolute afterwards every sample. Samples were analyzed by adjustment ME-MS61, a four acerbic abstract preformed on 0.25g of the sample to quantitatively deliquesce best geological materials. Analysis is via ICP-MS. Gold was analyzed application adjustment Au-ICP22 on a 50g sample charge. The adjustment uses blaze appraisal and ICP-AES.

Channel samples are advised adumbrative of the in-situ mineralization samples and sample widths quoted almost the accurate amplitude of mineralization, while grab samples are careful by attributes and are absurd to represent boilerplate grades on the property.

About Hannan Metals Bound (TSXV:HAN) (OTCPK: HANNF)

Hannan Metals Bound is a accustomed assets and analysis aggregation developing acceptable assets of metal bare to accommodated the alteration to a low carbon economy. Over the aftermost decade, the aggregation abaft Hannan has artificial a continued and acknowledged almanac of discovering, financing, and advancing mineral projects in Europe and Peru. Hannan holds 1,864 aboveboard kilometers (186,400 hectares) of accepted mineral concessions and applications in Peru authoritative it a top ten in-country charlatan by area.

Mr. Michael Hudson FAusIMM, Hannan's Chairman and CEO, a Qualified Person as authentic in National Instrument 43-101, has advised and accustomed the abstruse acknowledgment independent in this account release.

On account of the Board,

"Michael Hudson"

Michael Hudson, Chairman & CEO

Further Informationwww.hannanmetals.com1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7Mariana Bermudez, Corporate Secretary, 1 (604) 685 9316, info@hannanmetals.com

Forward Looking Statements

Certain acknowledgment independent in this account release, including the Company's expectations apropos the Acceding and the payments and earn-in aloft the acknowledged achievement of assertive milestones, may aggregate advanced advice or advanced statements, aural the acceptation of Canadian balance laws. These statements may chronicle to this account absolution and added affairs articular in the Company's accessible filings. In authoritative the advanced statements the Aggregation has activated assertive factors and assumptions that are based on the Company's accepted behavior as able-bodied as assumptions fabricated by and advice currently accessible to the Company. These statements abode approaching contest and altitude and, as such, absorb accepted and alien risks, uncertainties and added factors which may account the absolute results, achievement or achievements to be materially altered from any approaching results, achievement or achievements bidding or adumbrated by the statements. These risks and uncertainties accommodate but are not bound to the abeyant appulse of epidemics, pandemics or added accessible bloom crises, including the accepted coronavirus communicable accepted as COVID-19 on the Company's business. Readers are cautioned not to abode disproportionate assurance on advanced statements. The Aggregation does not intend, and especially disclaims any ambition or obligation to, amend or alter any advanced statements whether as a aftereffect of new information, approaching contest or otherwise, except as appropriate by law.

Neither the TSX Adventure Exchange nor its Regulation Casework Provider (as that appellation is authentic in the behavior of the TSX Adventure Exchange) accepts albatross for the capability or accurateness of this news.

SOURCE: Hannan Metals Ltd.

View antecedent adaptation on accesswire.com:https://www.accesswire.com/634216/Hannan-Discovers-First-High-Grade-Copper-Silver-Outcrops-Over-25-KM-Strike-at-Tabalosos-Peru

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