Mr. Marek Kreczmer reports

HANA MINING INTERSECTS 4.03% CU AND 50.7G/T AG OVER 14 M FURTHER INCREASING THE SIZE AND UNDERGROUND POTENTIAL OF THE ZONE 5 DEPOSIT

Hana Mining Ltd. has released further positive drill results from three deep exploration drill holes at zone 5 of the Ghanzi sediment-hosted copper-silver project in Botswana.

Highlights of deep drilling exploration results

Estimated true width intercepts:

• 1.61 per cent copper equivalent (CuEq) (1.42 per cent copper (Cu) and 13.3 grams per tonne (g/t) silver (Ag)) over 17.36 metres in hole HA-594c-D;
• 4.77 per cent CuEq (4.03 per cent Cu and 50.7 g/t Ag) over 14.26 metres within a wider mineralized interval of 3.61 per cent CuEq (3.06 per cent Cu and 38.1 g/t Ag) over 19.09 metres in hole HA-654-D;
• 1.23 per cent CuEq (1.18 per cent Cu and four g/t Ag) over 3.51 metres in hole HA-655-D.

The 2012 deep exploration drill program at zone 5 was focused on wide step-out drilling from known high-grade mineralization. The step-outs were located 500 metres away from previous collar intercepts and intersected mineralization approximately 400 metres downdip from the current inferred mineral resource at zone 5. All three holes intersected similar mineralization to that intersected near surface at approximately 600 to 650 metres vertically from surface.

These drilling results confirm the continuity of high-grade copper mineralization at depth at zone 5 over a defined strike length of 4,000 metres. The results from these holes were not included in the most recent resource estimate used to produce the preliminary economic assessment (PEA) released May 14, 2012. Zone 5 inferred mineral resource holes were drilled to a maximum depth of 200 metres and produced an inferred mineral resource of 520 million pounds Cu and 6.8 million ounces Ag at a Cu cut-off of 0.40 per cent. During the 2012 drill program, Hana completed 63 holes totalling 15,555 metres at zone 5.

Hana Mining president and chief executive officer Marek Kreczmer commented: "Zone 5 deep mineralization continues to be open along strike and at depth. The extent of the underground footprint suggests that the size of the resource at zone 5 could possibly double our earlier estimate. The 2012 high-grade copper results from zone 5 also have the potential to change the mine plan of the Ghanzi project."

During 2012, a total of 201 holes were drilled for an aggregate of 40,693 metres. Work focused on exploration and infill drilling at zones 2, 4, 5 and 6. The 2012 drill program was successful in both discovering the extent of mineralization potential at the Ghanzi project and increasing the confidence of known mineralization through infill drilling.

Corporate update

Mr. Kreczmer also commented: "Management from Hana and Cupric has recently met with the relevant Botswana regulatory authorities and was assured the approval process is progressing. The parties continue to work toward satisfaction and receipt of the outstanding arrangement conditions. The closing of the arrangement remains subject to the satisfaction or waiver of such conditions and the final approval of the TSX Venture Exchange. The closing of the arrangement is expected to occur in February, 2013."

Qualified person and quality assurance/quality control

The drilling program and results are reviewed and approved by Marek Kreczmer, chief executive officer for Hana. He is the qualified person as defined in National Instrument 43-101 and has reviewed the technical information in this press release.

Drill core is logged and photographed. Mineralized intervals are split in half by sawing and sampled at site. The remainder of the core is kept as a permanent record. Samples are placed into labelled bags, closed and packed into sealed bags that are shipped to Scientific Services Laboratory in Cape Town, South Africa. Hana has implemented an industry-standard QA/QC (quality assurance/quality control) program that includes the blind insertion of certified standards, duplicates and blanks into the sample stream.

About Hana Mining's Ghanzi copper-silver project in Botswana

The Ghanzi project is located in the centre of the Kalahari copper belt in northwestern Botswana. The Ghanzi property covers 2,149 square kilometres and contains sediment-hosted copper-silver deposits with a demonstrated cumulative tested strike length of 70 kilometres. This favourable geology extends over an estimated strike length of 600 kilometres.

On May 14, 2012, Hana Mining released results of its most recent NI 43-101-compliant preliminary economic assessment (PEA) for the Ghanzi project. The PEA details a 10,000-tonne-per-day open-pit mining and milling operation at the Banana zone and zone 5 at an initial capital expenditure of $285.5-million (U.S.). This operation is expected to produce approximately 66.4 million pounds of copper and 878,000 ounces of silver annually over a minimum 13-year mine life. The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic characteristics applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA will be realized.

On Oct. 24, 2012, Hana Mining announced a definitive plan of arrangement with Cupric Canyon Capital LP for an all-cash acquisition of all outstanding shares of Hana Mining; pursuant to this agreement, shareholders of Hana will receive 82 cents in cash for each common share. The offer values Hana's equity at approximately $82-million. On Dec. 27, 2012, at a special shareholder meeting, more than two-thirds of Hana's shareholders approved the arrangement offered by Cupric Canyon. On Jan. 7, 2013, the company received a final order of approval by the Supreme Court of British Columbia. The closing of the arrangement remains subject to the satisfaction or waiver of certain conditions of the arrangement and is expected to occur in February, 2013. Upon closing of the transaction, Cupric intends to advance the Ghanzi project through the design, construction and operational phases of its development.

                       DRILL RESULTS FROM ZONE 5
                                                 
                                            Estimated    
               From       To   Interval    true width    CuEq     Cu     Ag
Hole No.        (m)      (m)        (m)           (m)     (%)    (%)  (g/t)

HA-594c-D    648.26   686.00      37.74         36.61    0.89   0.79    7.1
includes     652.40   670.30      17.90         17.36    1.61   1.42   13.3
HA-654-D     698.70   718.18      19.48         19.09    3.61   3.06   38.1
includes     699.23   713.78      14.55         14.26    4.77   4.03   50.7
HA-655-D     548.28   558.62      10.34         10.13    0.52   0.48    2.2
includes     549.06   552.64       3.58          3.51    1.23   1.18    4.0

Note                                               
Interval indicates downhole interval lengths.

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