Hannan Metals Limited provided an exploration update on the new Sortilegio alkalic copper-gold ("Cu-Au") porphyry discovery at the 100% owned Valiente project in Peru. Sortilegio is located 19 km east from the township of Tingo Maria in central Peru, within a previously unknown Miocene-age porphyry-epithermal copper-gold mineralized belt within the Belen project area. In addition, Hannan also provides an update on Peruvian drill permitting and work programs from Chile and Ireland.

Highlights: The Sortilegio Cu-Au porphyry represents the first detailed work on an alkalic porphyry target at Valiente due to the style of mineralization, host rock composition, alteration assemblages and geochemical pathfinders. Detailed mapping at Sortilegio has demonstrated a leached alkalic porphyry style copper mineralization over an area of 1800 m by 1000 m area. Most notable is a stockwork of goethite veinlets overprinting allphaneritic rocks with six core zones with >20 veinlets/metre.

Lower intensity veining, marked by 10-20 veinlets/metre envelope the core zone and form a halo to the higher-grade mineralization. High-grade copper-gold bearing massive goethite boulders with remnants of secondary biotite with one boulder assaying 16.0% Cu and 4.4 g/t Au are interpreted to be sourced from structurally controlled mineralization within these core zones. Drill permitting across the San Martin and Valiente projects in Peru is advancing.

Ground magnetic and electromagnetic surveys have been completed in Chile, with the data now under review. At the Kilmurry target in Ireland, drill hole 23-3643-19 failed to reach the high amplitude seismic reflector, interpreted to represent massive sulphides, predicted at 700-800 m depth due to a 37 m wide open void drilled from 513 m down hole depth which created challenging drill conditions. The Sortilegio target is contained within a 140 km by 50 km area, named the Valiente Project, where Hannan's exploration team has identified 18 intrusion related porphyry/epithermal/skarn targets.

Sortilegio is part of the most advanced Belen project area, where Hannan has been advancing drill permitting.