Mr. Michael Hudson reports

HANNAN EXPANDS MINERALIZED BRECCIA FOOTPRINT AT PREVISTO TO 305 METRES

Hannan Metals Ltd. has expanded the high-grade gold zone at its 100-per-cent-owned Previsto prospect, Peru. Following the previously reported expansion of the central high-grade area, the company continued channel sampling in the Previsto Central gold zone to expand sampled areas.

This campaign increased the known width of the mineralized breccia unit from 185 metres to 305 metres, with peak grades of 2.6 grams per tonne Au (gold) and channel intervals up to 44.9 m at 0.4 g/t Au. All 175 channel samples from this campaign returned gold or silver mineralization. Combined with the 148 samples reported on June 3, 2026, every one of the 323 channel samples collected at Previsto Central across two consecutive campaigns has returned mineralization -- a 100-per-cent hit rate sustained as the sampled footprint continues to grow. Sampling to date has been limited to where outcrops are exposed in the jungle, and all sampled areas represent minimum dimensions and remain open in all directions.

Key points:

• Significant scale expansion: previously mapped mineralized breccia body now extends 305 m in width, up from 185 m, and remains open to the east and west;
• 100-per-cent hit rate sustained: all 175 channel samples returned gold or silver mineralization, extending the record to 323 of 323 samples across two campaigns (see news release dated June 3, 2026), with peak grades of 2.6 g/t Au and 37.2 g/t Ag (silver). Highlight channel results include:
  • 44.9 m at 0.4 g/t Au, nine g/t Ag including:
    • 17.4 m at 0.9 g/t Au, 18 g/t Ag.
  • 72.8 m at 0.2 g/t Au, three g/t Ag including:
    • 5.3 m at 0.5 g/t Au, five g/t Ag;
    • 12.6 m at 0.4 g/t Au, five g/t Ag.
  • 13.9 m at 0.8 g/t Au, six g/t Ag including:
    • 5.5 m at 1.4 g/t Au, 10 g/t Ag.
• High-grade silver mineralized zone expanding: 450 m by 120 m area of greater than five g/t Ag defined by these results.

Michael Hudson, chief executive officer, states: "Every one of the 175 channels sampled at Previsto Central returned gold or silver mineralization, on top of 148 from the previous campaign for a total of 323 out of 323, and the mineralized breccia has now grown from 185 metres to 305 metres in width, still open in all directions. That level of consistency at surface is exceptional at this stage of discovery and points to a large, coherent mineralized system. With the Previsto DIA now submitted and under evaluation, we are advancing on two fronts, growing the system at surface while progressing the approvals that will unlock the first ever drilling at Previsto."

Previsto Central detailed results

The Previsto Central field campaign delivered further understanding of the geological model and mineralization extents. Recent work focused on a 200 m by 150 m polygon around and to the west of the principal channel, completing 304.6 m (175 samples) of cumulative channel sampling. Channels are dominantly oriented northeast-southwest. Selected channel samples include:

• 44.9 m at 0.4 g/t Au, nine g/t Ag including:
  • 17.4 m at 0.9 g/t Au, 18 g/t Ag.
• 72.8 m at 0.2 g/t Au, three g/t Ag including:
  • 5.3 m at 0.5 g/t Au, five g/t Ag;
  • 12.6 m at 0.4 g/t Au, five g/t Ag.
• 13.9 m at 0.8 g/t Au, six g/t Ag including:
  • 5.5 m at 1.4 g/t Au, 10 g/t Ag.

Detailed mapping during the channel sampling campaign extended the known outcrop of a monomictic breccia body that hosts gold-silver-copper mineralization (Plate 1). The breccia comprises angular clasts of feldspar porphyry, cemented by a characteristic milky white assemblage of adularia, carbonate and minor quartz with disseminated pyrite, and is cut by later feldspar porphyry dikes.

Gold mineralization is likely associated with fine-grained disseminated pyrite (plus or minus tellurides) within the breccia cement, while copper occurs as fine chalcopyrite disseminated along the central suture of stockwork k-feldspar veining, hosted in both the breccia cement and clasts. New channels extended sampling 120 m to the northwest of previously reported channels, with the breccia body remaining open in that direction; combined with previously reported results, the breccia has now been traced over an east-west strike length of approximately 305 m and remains open along strike.

High-grade silver footprint developing

Channel sampling has also outlined a robust silver footprint at Previsto Central, with peak grades reaching 37.2 g/t Ag and a high-grade zone measuring 450 m by 120 m consistently grading above five g/t Ag, spatially coincident with the monomictic breccia. Silver mineralization extends across a much broader footprint of greater than one g/t Ag in outcrop covering 2.6 km to the south of Previsto Central, and 3.3 km east to west.

Alkalic porphyry-epithermal context: rare and significant

Work by the company's geological consultants has confirmed that the Previsto system 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 g/t Au and 120 g/t Ag at Las Helenas;
• 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, which has produced over 30 million ounces of gold 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.

Next steps

Hannan's team is actively advancing multiple work fronts to capitalize on this expansion of Previsto:

• Structural mapping: Detailed mapping and channel sampling of Previsto Central outcrops to further define high-grade gold and understand the structural controls of mineralization, with a focus on vectoring toward the core of a potentially highly prospective breccia pipe.
• Far north extensions: Reconnaissance campaigns of mapping, boulder sampling and soil sampling are planned in the 6.7 km zone of prospectivity announced on April 20, 2026.
• Drill permitting: DIA evaluation in progress in parallel at DGAAM, ANA and SERFOR, with final approvals anticipated during Q1 2027, ahead of the first ever drill program at Previsto.

DIA submission and new decree to expedite exploration drilling

On July 14, 2026, the company announced the completion and submission of its Declaracion de Impacto Ambiental (DIA) or environmental impact statement for the 100-per-cent-owned Amanecer gold-copper project. The DIA is the primary environmental certification required for drilling to proceed in Peru and provides for 18 drill platforms and 7,650 m of diamond drilling across the Previsto Central and Inca Garcilazo prospects, the first ever drilling at Previsto. The DIA was submitted to the General Directorate of Mining Environmental Affairs (DGAAM) of Peru's Ministry of Energy and Mines. DGAAM has confirmed that the request for evaluation and opinion has also been delivered to SERFOR, Peru's National Forest and Wildlife Service, and the evaluation process is now in progress in parallel at DGAAM, the National Water Authority (ANA) and SERFOR. Final DIA and other approvals are anticipated during Q1 2027, after which drilling can commence.

Hannan also welcomes the recent publication of Supreme Decree No. 014-2026-EM in Peru's official gazette, El Peruano, which amends the environmental protection regulation for mining exploration activities and is expected to expedite permitting for the project. Under the reform, the evaluating authority, MINEM, may now notify companies of observations without waiting for all external entities to report, the DIA threshold has been expanded to 60 drilling platforms to give more mid-sized projects access to the streamlined Category I pathway, duplicate observations are prohibited, official technical assistance desks have been established, and strict, predictable timelines now apply to both authorities and companies, with penalties for administrative inaction. These changes are expected to bring greater efficiency and predictability to the evaluation of the Amanecer DIA.

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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