Mr. Michael Hudson reports

HANNAN ANNOUNCES UPSIZE OF NON-BROKERED LIFE OFFERING OF COMMON SHARES

As a result of strong investor demand, Hannan Metals Ltd. has increased the size of its previously announced non-brokered private placement offering under the listed issuer financing exemption to up to 14 million common shares at a price of 75 cents per common share for gross proceeds of $10.5-million. The offering continues to be subject to a minimum of $4-million.

The company intends to use the net proceeds of the offering to finance exploration expenditures at the company's projects in Peru, including to continue to advance the drill program at the company's Belen prospect, and for general corporate and administration costs and general working capital.

The offering is expected to close in tranches by Nov. 28, 2025, and is subject to the company receiving the necessary regulatory approvals, including the conditional approval from the TSX Venture Exchange. The company may pay finders' fees in cash to certain arm's-length finders engaged in connection with the offering, subject to the approval of the TSX-V.

Subject to compliance with applicable regulatory requirements, the offering is being conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions and in reliance on the Coordinated Blanket Order 45-935 -- Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The securities issued to purchasers in the offering will not be subject to a hold period under applicable Canadian securities laws. There is an amended and restated offering document related to the upsized LIFE offering dated Nov. 18, 2025, that can be accessed under the company's profile at SEDAR+ and at the company's website. Prospective investors should read the amended and restated offering document before making an investment decision.

About Hannan Metals Ltd.

Hannan Metals is an exploration company focused on the identification and delineation 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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