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Hannan Outlines 750 m Long and up to 192 m Wide Outcropping Copper Mineralization at Previsto, Peru

News provided by newsfile2025-03-20

March 20, 2025 6:30 AM EDT | Source: Hannan Metals Ltd.

Vancouver, British Columbia--(Newsfile Corp. - March 20, 2025) - Hannan Metals Limited (TSXV: HAN) (OTC Pink: HANNF) ("Hannan" or the "Company") is pleased to report the identification of a significant copper porphyry target at its 100%-owned Previsto project in Peru (Figure 1).

Systematic channel sampling across four parallel creeks has confirmed 750 m of continuous copper mineralization with widths up to 192 m. The target is located only 1,300 m from the previously identified high-grade alkalic gold mineralization where Hannan recently trenched 69.1 m @ 2.4 g/t Au reported on 06 February 2025.

Highlights:

Expanded Mineral System: Identification of a significant copper porphyry target at Previsto, located only 1,300 m from the previously identified gold mineralization (69.1 m @ 2.4 g/t Au), substantially expands the project's potential (Figure 2).
Proven Strike Continuity: Systematic channel sampling across 4 parallel creeks (spaced 130 m to- 290 m apart) confirms 750 m of continuous mineralization with widths up to 192 m (Figures 2 and 3). Mineralization remains open under cover to the north, south, and east.
Copper Grades: Surface sampling indicates consistent copper mineralization despite extensive leaching, suggesting potential for higher grades in unweathered (hypogene) zones. Results from 768.7 m of channel sampling include:
- CH15447: 48.0 m @ 0.12% Cu
- CH15430: 107.0 m @ 0.09% Cu
- CH14555: 126.0 m @ 0.22% Cu (reported here)
- CH15391: 192.0 m @ 0.17% Cu (reported here)

Continued Exploration: A team of 5 geologists and 10 support staff are back on the ground to expand and further delineate the gold-copper mineralization at Previsto.

Michael Hudson, CEO, states: "While our focus remains on the exciting alakalic gold system at Previsto, the identification of this extensive and adjacent copper porphyry system, situated just 1,300 m from our recently announced high-grade gold identification, demonstrates the district-scale potential we are unlocking in this emerging mineral belt. Systematic channel sampling has revealed consistent copper mineralization over significant widths despite surface leaching, suggesting the potential for higher grades at depth in unweathered zones.

"What's particularly exciting is the 750 m strike length with widths up to 192 m that remain open in multiple directions. This further validates our exploration approach across the Valiente project, where we continue to identify multiple mineralized centres within this previously unrecognized metallogenic belt.

"With our team back on the ground and actively expanding both the gold and copper mineralization at Previsto, while simultaneously preparing for our first drill program at Belen in Q2 2025, we are systematically advancing this large-scale alkalic gold-copper system across multiple fronts."

Geological Discussion

Systematic channel sampling has delineated copper mineralization over a 750 m strike length and up to 192 m width at Previsto, extending from the previously announced intercept of 126 m @ 0.22% Cu. The mineralized system exhibits unusual porphyry-style alteration and mineralization characteristics.

The central portion displays moderate to strong phyllic alteration dominated by vanadium-rich mica and pyrite, with a discrete 25 m zone of potassic alteration and localized relics of intermediate argillic alteration. Primary sulphide mineralization consists of disseminated pyrite (1% to 5%) with subordinate chalcopyrite (up to 1%). Surface exposures show significant leaching with development of secondary copper minerals (malachite, neotocite) and hematite along fractures. Multiple stockwork vein assemblages are present, including pyrite-magnetite-hematite, pyrite-chalcopyrite-fluorite, and carbonate-quartz-molybdenite-chalcopyrite.

Alteration and mineralization exhibit systematic spatial variations. Northern channels contain more intense phyllic alteration with increased pyrite content (2% to10%), traces of chalcopyrite and molybdenite, and distinctive carbonate-molybdenite-chalcopyrite and roscoelite veins. The southern channels (including CH15430) maintain strong phyllic alteration with vanadium-rich mica zones, consistent pyrite (1% to -5%) and chalcopyrite (up to 1%), and similar stockwork veining.

The mineralized footprint has been defined by 20 channel samples with the longest continuous interval measuring 192 m. Minor gaps between channels result from colluvial cover. The system remains open for expansion to the north, south, and locally to the east, suggesting potential for a significantly larger mineralized body.

About the Valiente Project

The 100% owned Valiente project is in central eastern Peru, east of the city of Tingo Maria (Figures 1 and 2). The area is characterized by steep topography on the eastern flank of the Central Cordillera with elevations between 800 m and 2,000 m above sea level (a.s.l.). The project was discovered in 2021 during an extensive greenfields prospecting program initiated by Hannan for back-arc porphyry copper-gold systems. The Company has been actively prospecting on the project since 2021 and has successfully gained social permits progressively in all areas of interest.

During 2021 Hannan staked and still holds 1,002 km² of 100% owned mining concessions at Valiente covering unexplored terrain for potential mineralized porphyry targets in central eastern Peru. The Valiente Project has rapidly evolved from a greenfields prospect to a multi-prospect opportunity.

Early surface prospecting discovered two outcropping copper-gold porphyry targets and one epithermal target at Belen (see Press Release Feb 16, 2023). Porphyry discoveries quickly followed at Serrano Norte, Serrano and Pucacunga. The focus more recently has been on Previsto. At Previsto and Belen, a district-scale porphyry cluster within an area of 25 km by 10 km, with eight porphyry and/or epithermal targets now identified in more detail with up to 10 earlier stage targets awaiting further work.

Hannan has achieved critical permitting milestones at the Belen Project in Peru. In November 2024, the company received the Declaracion de Impacto Ambiental (DIA) or Environmental Impact Statement from Peru's Ministry of Mines, which approved 40 drill platforms across 702 hectares. The Company also received the Authorization for Exploration Activities permit (the "permit") in February 2025 following the previously announced DIA (Environmental Impact Statement) approval. The Permit allows Hannan to start drill access work for 40 approved platforms within the 702-hectare Belen area. it is expected to commence at Belen in Q2 2025, while Hannan continues to unravel the large scale alkalic gold-copper mineral system at Previsto

The company is executing a multi-year strategy to systematically explore and drill test its extensive land package in this emerging Miocene-aged linked porphyry-epithermal mineral belt.

Technical Background

All samples were collected by Hannan geologists. Samples were transported to ALS in Lima via third party services using trackable parcels and by company staff. At the laboratory, rock samples were prepared and analyzed by standard methods. The sample preparation involved crushing 70% to less than 2 mm, riffle split off 250g, pulverize split to better than 85% passing 75 microns. Samples were analyzed by method ME-MS61, a four-acid digest performed on 0.25g of the sample to quantitatively dissolve most geological materials. Analysis is via ICP-MS. Gold was analyzed in rock and soils by ALS in Lima using a standard sample preparation and 30g fire assay sample charge. Soil samples were analyzed by a portable XRF (VANTA-VMR) using an inhouse protocol which includes routine use of CRM and field duplicates as well as 10% check samples analyzed by ALS Lima.

About Hannan Metals Limited (TSXV: HAN) (OTC Pink: HANNF)

Hannan Metals Limited is a natural resources and exploration 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. Hannan is a top ten in-country explorer by area in Peru.

Forward-Looking Statements. Certain disclosure contained in this news release may constitute forward-looking information or forward-looking statements, within the 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 well as assumptions made by and information currently available to the Company. These 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 not 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; risks related to negative publicity with respect to the 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 Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news.