Hannan Metals identifies gold zone at Valiente

Executive Summary

• Hannan Metals identified a new 2 km × 0.8 km gold‑anomalous zone at Honda Creek, expanding the Previsto system by ~2 km and increasing strike length to >5 km.
• Surface sampling returned up to 0.92 g/t Au in rock chips and 0.70 g/t Au in soils across a 1.6 sq‑km area, confirming widespread mineralization in sedimentary host rocks.
• The discovery introduces a distinct carbonate‑replacement/sediment‑hosted gold style, broadening the exploration model beyond the existing alkaline epithermal system and supporting upcoming drill permitting.

Key Details

• Location: Honda Creek, 1.3–2.1 km SSW of Previsto Central prospect, Valiente project, Peru (100% owned).
• Gold Zone Size: Approximately 2,000 m long × 800 m wide (≈1.6 sq‑km).
• Sampling Results:
• Rock chip – 81 samples, grades 0.002–0.92 g/t Au, average 0.09 g/t Au.
• Channel – 4 channels (11.9 m total), grades 0.03–0.14 g/t Au.
• Soil – 26 samples, grades 0.03–0.70 g/t Au, average 0.12 g/t Au.
• Host Lithology: Chonta Formation limestone and siltstone with minor intrusives; all rock samples <500 ppm Cu (gold‑only signature).
• Mineralization Style Implications: Potential carbonate‑replacement, sediment‑hosted (Carlin‑type), or contact‑related mineralization distinct from the K‑feldspar porphyry‑epithermal system at Previsto Central.
• District‑Scale Impact: Expands known mineralized footprint from ~3 km × 3 km to >5 km strike length; validates multi‑phase, district‑scale gold potential.
• Next Exploration Steps: Detailed geological mapping, additional channel sampling, integration with pending Previsto drill permit application.
• Environmental/Permitting Update: Completion of environmental baseline monitoring, CIRA submission, and community engagement for DIA (environmental certification) to enable drilling.

Notable Quotes

“The first results from the new Honda Creek area represent a significant expansion of our Previsto gold system… The gold‑only signature and limestone host rocks suggest potential for carbonate replacement or sediment‑hosted gold mineralization styles, adding an entirely new dimension to our exploration model.” – Michael Hudson, CEO

Materiality Assessment: Material – Positive (significant expansion of known resource footprint and introduction of a new mineralization style that could materially affect future project economics).