Mr. Michael Hudson reports

HANNAN ANNOUNCES WARRANT EXPIRY ACCELERATION

Hannan Metals Ltd. has elected to accelerate the expiry date of outstanding share purchase warrants of the company, originally issued in connection with the closing of a private placement financing on June 27, 2024, exercisable at 50 cents per common share.

In accordance with the terms of the certificates evidencing the June, 2024, warrants, the company may accelerate the expiry date of the June, 2024, warrants in the event that the weighted average closing price of the company's common shares on the TSX Venture Exchange is equal to or greater than 70 cents for 20 consecutive trading days, to the date that is 30 days following the dissemination of a news release announcing the acceleration trigger. As the closing price of the company's common shares has equaled or exceeded 70 cents per common share over each of the last 20 trading days ended July 2, 2025, on the exchange, this news release constitutes notice to all June, 2024, warrantholders of the acceleration of the expiry date. Accordingly, the company confirms that all the June, 2024, warrants are now set to expire at 5 p.m. Vancouver time on Aug. 2, 2025, being the 30th day following the date of this notice. Any June, 2024, warrants remaining unexercised after the accelerated expiry date will be cancelled.

As of July 3, 2025, an aggregate of 4,568,110 June, 2024, warrants remain outstanding. Accordingly, if all the June, 2024, warrants are exercised, gross proceeds to the company will total approximately $2.3-million. There is no assurance that all of the June, 2024, warrants will be exercised. Holders may exercise the June, 2024, warrants before the accelerated expiry date by observing the process as set out in the June, 2024, warrant certificates.

"We're pleased to announce this warrant acceleration which allows existing shareholders to exclusively fund the company," stated Michael Hudson, chief executive officer and executive chairman. "The potential $2.3-million in additional capital comes at a strategic time, as we have just commenced our drilling programs in Peru while continuing our promising work at the Previsto high-grade gold alkaline discovery. This capital injection will help maintain our operational momentum across multiple high-potential projects without dilution to our existing shareholder base. We appreciate the continued support of our shareholders as we work to unlock the significant gold and copper potential across our portfolio."

About Hannan Metals Ltd.

Hannan Metals is an exploration company focused on the discovery of large gold and copper mineralizing systems in new frontiers in Peru. Over the last decade, the team behind Hannan has forged a long and successful record of discovering, financing and advancing mineral projects in Australia, Europe and South America.

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