Hannans Ltd (ASX: HNR) joint venture partner Classic Minerals Ltd (ASX: CLZ) has announced an updated mineral resource for Lady Magdalene and outlined its plans for both the Lady Magdalene and Lady Ada gold deposits.

Both deposits are part of the Forrestania Gold Project (FGP) located approximately 120km south of Southern Cross in the Goldfields region of Western Australia.

Hannans owns a 20% free-carried interest in the FGP1 meaning Hannans is not required to fund the costs of exploration until a decision to mine gold has been made by the joint venture.

Contact:

Tel: +61 8 9324 3388

About Hannans Ltd (Est. 2002)

Hannans Ltd (ASX:HNR) is an Australia resources company with a focus on nickel, lithium, cobalt and gold in Western Australia. Hannans' major shareholder is leading Australian specialty minerals company Neometals Ltd. Since listing on the ASX in 2003 Hannans has signed agreements with Vale Inco, Rio Tinto, Anglo American, Boliden, Scandinavian Resources, Warwick Resources, Cullen Resources, Azure Minerals, Neometals, Tasman Metals, Grangesberg Iron, Lovisagruvan and Montezuma Mining Company. Shareholders at various times since listing have included Rio Tinto, Anglo American, OM Holdings, Craton Capital and BlackRock.

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