Hannan Hits High-Grade Gold in Final Two Stavatrask Holes, Drilling Returns 4.6 m at 7.2 g/t Au, Including 0.7 m at 21.4 g/t Au, Within a 60 m Mineralized Zone, Gold Intersected in All Seven Holes Across 650 m of Strike; IP Survey and 1,000 m Follow-Up Dr

Hannan Metals Ltd. has released the final assay results from its maiden drilling campaign at the Stavaträsk gold project in Sweden. The program consisted of seven holes totaling 1,040 meters of diamond drilling. Gold was intersected in all seven holes across a 650-meter strike length.

Hole ST2606 returned the best intercept of the program, delivering 59.6 meters at 1.1 grams per tonne of gold from 48.5 meters, with no lower cut. Within that broad zone, the hole returned 7.0 meters at 2.6 grams per tonne of gold from 46.5 meters, and 4.55 meters at 7.2 grams per tonne of gold and 14.5 grams per tonne of silver from 79.45 meters.

The 4.55-meter high-grade interval includes 1.9 meters at 15.7 grams per tonne of gold, with individual assays of 0.55 meters at 20.7 grams per tonne of gold, 0.73 meters at 21.4 grams per tonne of gold, and 0.43 meters at 6.51 grams per tonne of gold. ST2606 also returned 6.55 meters at 1.3 grams per tonne of gold from 102.05 meters and a narrow polymetallic interval of 0.4 meters at 6.5 grams per tonne of gold, 66.4 grams per tonne of silver, and 1.35% copper from 80.9 meters.

Hole ST2607 returned 3.22 meters at 1.4 grams per tonne of gold from 166.2 meters, including 0.65 meters at 5.08 grams per tonne of gold.

The company plans to conduct an IP gradient-array geophysical survey, 3D modelling, and a follow-up approximately 1,000-meter drill program. The release also disclosed the resignation of Director and Peru General Manager Katty Vargas.

Hannan Metals Ltd. (HAN) released results confirming that its maiden drilling program intersected gold in every hole, delivering the best grade-width intercept of the seven-hole campaign. The new best intercept of 4.55 m @ 7.2 g/t Au represents an improvement on grade-width compared to previously reported composites, though the difference is not dramatic. This follows the August 13 release, which had already informed the market that the first five holes hit gold and included a 0.6 m @ 27.8 g/t Au sample.

The tested strike remains 650 m, while the interpreted 7 km trend is still only mapped, and there is no mineral resource estimate. At a market capitalization near C$126 million against only C$7.7 million of cash and no resources, the release does not obviously close the gap between price and demonstrated scale. The stock has re-rated from a June 2026 low of C$0.47 to around C$0.87-0.90 before this release, suggesting that much of the Swedish discovery enthusiasm is already priced.

Hannan Metals Ltd. (HAN) is a pre-revenue junior explorer with assets in Peru and Sweden. Its flagship project is the Previsto gold-copper target in Peru, an alkalic porphyry-epithermal district where maiden drilling is planned after permitting. Other work in Peru includes the Valiente/Belen area and the San Martin copper-silver joint venture, which faces funding uncertainty.

In Sweden, the company holds an option to earn 100% of the Stavaträsk, Skellefteå North, and Ådelfors gold projects via staged share issuance and C$2 million in exploration spending. This option is subject to a 2% NSR royalty repurchasable for C$3 million. No mineral resource or reserve has been estimated for the Swedish projects or Previsto.

Financial position as of Q3 2026 reporting shows cash of C$7.74 million and total current assets of C$7.94 million. Total liabilities stood at C$200,474, with total equity at C$21.11 million. The nine-month net loss was approximately C$1.22 million.