Hannan channel samples 69.1 m @ 2.4 g/t gold including 26.0 m @ 5.4 g/t gold from new alkalic epithermal gold find at previsto in Peru

Channel sampling has revealed high-grade alkalic-type epithermal gold mineralization with 69.1 m at 2.4 g/t gold (“Au”) including 26.0 m at 5.4 g/t Au. The finding, which remains open in all directions, is situated within a larger 6 km x 6 km epithermal-porphyry cluster, further indicating the potential for a major new mineral district.

Highlights:

• Significant Gold Results: Two channels sampled continuous outcrop of alkalic-type epithermal gold mineralization:
  • A north-south channel (CH15486) assayed (Figures 2 to 5):
    • 1 m @ 2.4 g/t Au and 13 g/t Ag (uncut), including:
      • 0 m @ 5.4 g/t Au and 27 g/t Ag (lower cut 3 m @ 0.8 ppm Au)
    • The high-grade nature of mineralization is demonstrated by peak assays including:
      • 7 m @ 16.1 g/t Au, 60 g/t Ag, 48 g/t Te
    • The channel remains open to both the north (4.8 g/t Au last assay) and south (0.8 g/t Au last assay) and a grab sample of outcrop located 60 m SSW assayed 0.8 g/t Au, 7 g/t Ag and 3.8 g/t Te.
  • An east-west channel (CH16401) that joins the northern end of CH15486 assayed (Figures 2 to 5):
    • 0 m @ 1.2 g/t Au and 19 g/t Ag (lower cut 2.5 m @ 0.3 g/t Au), including:
    • The channel remains open to both the east (1.7 g/t Au last assay) and the west.

• Large System: The channel sampled gold sits within a larger 6 km x 6 km epithermal-porphyry cluster, positioned on the northern edge of a 4 km x 4 km gold-in-soil anomaly (>0.1 g/t Au). This suggests significant potential for a large-scale mineralized system.
• Style and Quality: The alkalic-type epithermal gold mineralization is particularly encouraging, as these systems can develop into large, high-grade deposits globally. The mineralogy suggests minimal erosion, indicating the potential preservation of a significant vertical extent of mineralization. Multiple untested targets surrounding the gold mineralization, including copper porphyry mineralization 1.3 km northwest (192 m @ 0.16% Cu) and a gold-copper target 2.6 km east, underscore the district-scale opportunity.
• Strategic Position: This finding adds to Hannan’s systematic prospecting of the 150 km long Valiente gold-copper project. With drill permits secured for Belen (20 km SW) and drilling scheduled for Q2 2025, the company is methodically derisking multiple targets across this emerging mineral belt.

  Michael Hudson, CEO, states: “This new finding represents a potentially significant new gold district in Peru, with characteristics suggesting both high-grade potential and substantial scale. Identification of high-grade gold at surface with scale is extremely rare. Particularly given gold mineralization remains open in all directions and sits within an extensive 4 km x 4 km gold-in-soil anomaly that we have barely begun to explore.
  “The alkalic-type epithermal gold style of mineralization is encouraging, as these systems globally can develop into large, high-grade deposits. We are in the very early stages here – these results comes from initial channel sampling, and we have multiple untested targets across the 4 km x 4 km soil gold anomaly. “Hannan’s strategy is to systematically explore the new Valiente mineral belt gaining drill permits progressively as we make further discoveries. With Peru’s improving and transparent drill permitting system, we look forward to drilling at Belen in Q2 2025, located 20 km to the SW of Previsto, while we derisk this new gold finding to achieve staged drill programs across the entire 150 km long Valiente gold-copper project.”

  Further information is attached.

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