Mr. Michael Hudson reports

HANNAN SUBMITS DIA TO DRILL PERU'S FIRST ALKALINE EPITHERMAL GOLD-COPPER DISCOVERY AT PREVISTO

Hannan Metals Ltd. has completed and submitted of its Declaracion de Impacto Ambiental (DIA) or environmental impact statement at its 100-per-cent-owned Amanecer gold-copper project in Peru. The DIA is the primary environmental certification required for drilling to proceed in Peru, and its submission moves Previsto, the first documented alkaline epithermal gold-copper system in the country, a decisive step closer to its maiden drill program.

Highlights:

• Previsto is a district-scale discovery and the first documented alkaline epithermal gold-copper system in Peru, a deposit class that includes some of the world's largest and highest-grade gold mines.
• The DIA will provide for the first ever drilling on the project with 18 drill platforms and 7,650 metres of diamond drilling across the Previsto Central and Inca Garcilazo prospects.
• Two work areas sit within the five-kilometre-by-five-kilometre Previsto footprint: a main area of 2.7 km by 1.7 km and a second area of 0.8 km by 0.5 km, totalling 361.4 hectares with a disturbance footprint of just 2.3 hectares.
• Final DIA and other approvals are anticipated during Q1 2027, positioning Hannan for the first ever drill program at Previsto.

Michael Hudson, chief executive officer, states: "The DIA is the key that unlocks the drill bit at Previsto. We have discovered the first documented alkaline epithermal gold-copper system in Peru, the same deposit class that has delivered Porgera in PNG and Cripple Creek in Colorado, and this submission positions us to systematically drill test multiple high-priority targets across the district for the first time. My thanks to our permitting and social teams, our external experts, and the local communities, whose constructive engagement has been fundamental to reaching this milestone."

DIA information

The DIA has been submitted for approval to the General Directorate of Mining Environmental Affairs (DGAAM) of Peru's Ministry of Energy and Mines. The submission is underpinned by professional archaeological investigations, community workshops and liaison activities, including:

• Environmental baseline monitoring conducted by independent third party experts;
• Studies and site visits to develop technical data for the CIRA (Certificate of Non-Existence of Archaeological Remains) administered by the Peruvian Ministry of Culture, to confirm the project does not impact archaeological sites; and
• Public participation meetings in the hamlet of Nueva Palestina, where the communities are on record approving the company's proposed drill program.

Final DIA and other approvals are anticipated during Q1 2027, after which drilling can commence.

Alkalic porphyry-epithermal context: rare and significant

The company's geological consultants have confirmed that Previsto displays the hallmark characteristics of an alkalic porphyry-epithermal district, a class of deposit that includes some of the world's largest and highest-grade gold systems. Key features include:

• Roscoelite-cemented hydrothermal breccias associated with Au-Ag-Te-V-Cu-Mo-Pb-Ba-As, with grades up to 33.1 grams per tonne Au (gold) and 120 g/t Ag (silver) at Las Helenas (Previsto Central);
• Fluorite occurring as cement in roscoelite-cemented breccias, a diagnostic feature of alkalic systems;
• Massive adularia alteration associated with Au-Ag-Te mineralization;
• Pseudoleucite-bearing syenite porphyries, a silica-undersaturated intrusive suite that is globally rare and genetically linked to alkalic gold mineralization.

The geological parallels to Cripple Creek in Colorado from a similar alkalic igneous setting with roscoelite, adularia and telluride associations are direct and compelling. Emperor and Tuvatu in Fiji provide additional alkalic analogues. Previsto is the first system of this type to be recognized in Peru, substantially increasing the project's district-scale potential.

About the Previsto prospect (DIA Amanecer)

The 100-per-cent-owned Previsto prospect (DIA Amanecer) is located in central-eastern Peru. 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. The prospect was discovered in 2021 during an extensive greenfields prospecting program initiated by Hannan targeting back-arc porphyry copper-gold systems.

Previsto has rapidly evolved from a greenfields prospect to an emerging alkalic porphyry-epithermal area. At Previsto and Belen, a significant-scale porphyry cluster is present within an area of 25 km by 10 km, with eight porphyry and/or epithermal targets now identified.

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 per cent to less than two millimetres, riffle split off 250 g, pulverize split to better than 85 per cent passing 75 micrometres. Samples were analyzed by method ME-MS61, a four-acid digest performed on 0.25 g 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 30 g fire assay sample charge. Soil samples were analyzed by a portable XRF (Vanta-VMR) using an in-house protocol which includes routine use of CRM and field duplicates as well as 10-per-cent check samples analyzed by ALS Lima. QA/QC (quality assurance/quality control) protocol for rock samples is to include one CRM per 25 samples.

Channel samples are considered representative of the in-situ mineralization. At this stage, true widths of mineralization are not known. Grab or panel samples are selective by nature and are unlikely to represent average grades on the property.

About Hannan Metals Ltd.

Hannan Metals is an exploration company with a primary focus on advancing its Previsto gold-copper prospect (Amanecer project) in Peru, and an option to earn 100 per cent in three high-grade gold projects in Sweden. 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.

Michael Hudson FAusIMM, Hannan's chairman and chief executive officer, a qualified person as defined in National Instrument 43-101, has prepared, reviewed, verified and approved the technical contents of this news release.

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