Hannan Metals extends Previsto Gold Breccia, Peru; open in all directions

Hannan Metals Ltd. [TSXV: HAN; OTC Pink: HANNF; FSE: C8MQ] report edresults from two further channel and rock chip sampling campaigns at the Previsto Central gold zone, part of its 100% owned Previsto prospect in Peru.

The campaigns added 325 channel samples over 580.5 metres of channels and extended the mapped mineralized breccia by 105 metres to a strike length of 410 metres. Every one of the 325 new channel samples returned gold, silver or copper mineralization, taking the total to 648 of 648 samples mineralized samples above background. A panel sample taken adjacent to the principal channel returned 32.8 g/t Au and 130 g/t Ag, the second-highest gold grade from rock sampling at Previsto. Sampling is limited to outcrop exposed in the jungle; all sampled areas represent minimum dimensions and remain open in all directions.

Key Points: 100% hit rate sustained: all 325 new channel samples returned gold, silver or copper mineralization, taking the record to 648 of 648 channel samples mineralized across four consecutive campaigns.

High-grade panel sample: a panel sample returned 32.8 g/t Au and 130 g/t Ag, the second-highest gold grade from rock sampling at Previsto, taken adjacent to the principal channel and a known high-grade outcrop.

Breccia strike extended 105 m to 410 m: channel CH18662 extends the mapped breccia a further 105 m southeast, from 305 m to 410 m of strike. Channel CH17992 (77.3 m at 0.1 g/t Au) infills earlier sampling gaps across the breccia and includes 1.5 m at 2.3 g/t Au.

Highlight channel composites (broad intervals without a cut-off; higher-grade intervals at a 0.5 g/t Au cut-off) – CH18046: 19.8 m at 0.6 g/t Au, 6 g/t Ag including 2.0 m at 3.1 g/t Au;  CH17992: 77.3 m at 0.1 g/t Au, 2 g/t Ag including 1.5 m at 2.3 g/t Au; CH17986: 10.6 m at 0.5 g/t Au, 5 g/t Ag including 6.7 m @ 0.7 g/t Au; CH18227: 54.3 m at 0.2 g/t Au, 2 g/t Ag and 7.7 m @ 0.6 g/t Au; CH18273: 11.6 m at 0.4 g/t Au, 3 g/t Ag including 4.0 m at 0.6 g/t Au and CH18284: 12.1 m at 0.3 g/t Au, 1 g/t Ag including 3.3 m at 0.9 g/t Au.

Michael Hudson, CEO, states: “Every one of the 648 channel samples we have collected at Previsto Central has returned mineralization above background levels. That consistency, across a breccia now traced for 410 metres and open in all directions, tells us we are dealing with a system of real scale. More important is what kind of system it is. Previsto has the hallmarks of an alkalic porphyry-epithermal system, the deposit class that hosts Cripple Creek in Colorado, and to our knowledge the first of its type recognized in Peru.

“With drilling commencing again next month in Sweden, our work now in Peru is to vector into the core of the system as we advance through permitting toward our maiden drill program in 2027.”

Every one of the 325 channel samples returned gold, silver, or copper mineralization. Combined with the 323 mineralized channel samples reported across the two previous campaigns, all 648 channel samples collected at Previsto Central across four consecutive campaigns have returned mineralization above background levels, a 100% hit rate sustained as the sampled footprint has grown. Channel CH17992 returned 77.3 metres at 0.1 g/t Au, 2 g/t Ag (uncut) and infills a gap between earlier channels, with individual samples returning 2.3 g/t Au and 0.9 g/t Au within the breccia. Channel CH18662 extends the mapped breccia a further 105 m southeast to a strike length of 410 metres. Channel CH18046 returned 19.8 metres at 0.6 g/t Au, 6 g/t Ag (uncut) and outlines a developing higher-grade gold trend stretching from the principal channel over 370 metres south.

The two campaigns focused on a 650 m x 240 m polygon (Figure 2) centred on and extending east and south of the principal channel, completing 580.5 metres (325 samples) of cumulative channel sampling. Channels were oriented transverse (dominantly NW-SE to N-S) across the porphyry stocks and breccia zones to define alteration boundaries, determine structural controls, and assess the lateral extension of mineralization. Highlight channel composites are summarized below (broad intervals without a cut-off; higher-grade intervals at a 0.5 g/t Au cut-off, maximum internal dilution 0 m) – CH18046: 19.8 m at 0.6 g/t Au, 6 g/t Ag, including 2.0 metres at 3.1 g/t Au; CH17992: 77.3 m at 0.1 g/t Au, 2 g/t Ag including 1.5 m at 2.3 g/t Au; CH17986: 10.6 m at 0.5 g/t Au, 5 g/t Ag including 6.7 m @ 0.7 g/t Au; CH18227: 54.3 m at 0.2 g/t Au, 2 g/t Ag and 7.7 m at 0.6 g/t Au; CH18273: 11.6 m at 0.4 g/t Au, 3 g/t Ag including 4.0 m at 0.6 g/t Au; CH18284: 12.1 m at 0.3 g/t Au, 1 g/t Ag including 3.3 m at 0.9 g/t Au; CH18252: 16.7 m at 0.2 g/t Au, 3 g/t Ag including 3.1 m at 0.7 g/t Au and CH18060: 10.4 m at 0.3 g/t Au, 3 g/t Ag including 2.5 m at 0.6 g/t Au.

In addition to channel sampling, 34 rock chip and panel samples were collected across a 600 m x 200 m polygon at Previsto Central. The gold average was 1.2 g/t, silver average was 10 g/t and copper average was 541 ppm.

Mapping during the two campaigns identified two mineralized breccia styles within the feldspar porphyry host: a crackle breccia exposed along the 77.3 metres principal channel (CH17992), and discrete breccia bodies up to 6.7 metres wide in channels CH17986, CH18486 and CH18273. The breccias carry adularia and roscoelite (a vanadium-bearing mica) alteration with disseminated pyrite and local tellurides, and a veinlet sample returned 0.16% V, a diagnostic signature of alkalic epithermal systems.

Gold and copper are interpreted to be carried mainly by an early north-south set of K-feldspar-quartz-sulphide veinlets. Surface outcrops are strongly weathered and leached of copper, zinc and lead, but relict veinlets and boxwork textures indicate the primary sulphide-bearing system continues below the weathered zone, a target that only drilling can test. The mineralized breccia now extends over 410 metres of strike and remains open in all directions.

Work by the company’s geological consultants indicates that the Previsto system displays the hallmark characteristics of an alkalic porphyry-epithermal district, a class of deposit that includes a number of major gold districts. Features identified at Previsto 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 the Previsto Central target.

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.

These features are shared with Cripple Creek in Colorado, a district that has produced more than 20 million ounces of gold from a similar alkalic igneous setting with roscoelite, adularia and telluride associations. Emperor and Tuvatu in Fiji are further alkalic analogues. To the company’s knowledge, Previsto is the first system of this type recognized in Peru, which substantially increases the project’s district-scale potential. Mineralization at Cripple Creek, Emperor and Tuvatu is not necessarily indicative of mineralization at Previsto.

Hannan is advancing two work fronts at Previsto. Structural Mapping: Detailed mapping and channel sampling of Previsto Central outcrops to further define higher-grade gold and understand the structural controls of mineralization, with a focus on vectoring toward the core of a potentially highly prospective breccia pipe.

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.

On July 14, 2026, the company announced the completion and submission of its Declaración de Impacto Ambiental (DIA) or Environmental Impact Statement for the 100%-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 metres 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 July 2026 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.

The 100%-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.

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.

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% in three high-grade gold projects in Sweden.