Mr. Michael Hudson reports

HANNAN ANNOUNCES CLOSING OF SECOND TRANCHE OF NON-BROKERED LIFE OFFERING - RAISES C$9.1 MILLION IN TOTAL

Hannan Metals Ltd. has closed the second and final tranche of its previously announced non-brokered private placement offering under the listed issuer financing exemption. Pursuant to the closing of the second tranche, the company has issued 2,831,924 common shares at a price of 75 cents per common share for gross proceeds of $2,123,943. When combined with the closing of the first tranche ($7,034,810), announced by the company on Nov. 20, 2025, the company has raised gross proceeds of $9.1-million under the offering.

Michael Hudson, chairman and chief executive officer of Hannan Metals, stated: "We are pleased to have closed our financing and grateful to the shareholders who participated in the offering. The strong support from both new and existing investors reflects confidence in our exploration strategy and the prospectivity of our Peruvian projects. With $9.1-million now raised, Hannan is well-funded to continue advancing drill programs at Belen and to progress permitting at Previsto. We thank our shareholders for their continued support as we work to unlock the potential of our gold-copper portfolio in Peru."

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 Belen gold-copper prospects (DIA Valiente) and geological and drill permitting work at the Previsto gold-copper project (DIA Amacener), and for general corporate and administration costs and general working capital.

The offering is subject to the company receiving final approval from the TSX Venture Exchange. The company paid $102,011.55 cash finders' fees to arm's-length finders engaged in connection with the closing of the second tranche.

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 past 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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