Hannan Metals Limited provided results from a 13.7 km Induced Polarization (IP) geophysical survey at the Belen copper-gold (Cu-Au) target at the 100% owned Valiente project in Peru. The results of this survey at the Ricardo Herrera prospect identified two chargeable zones corresponding to two mapped porphyry units. Each represents a significant exploration target.

The second target demonstrates the greatest potential with a chargeable zone over 800 m x 600 m and to at least 500 m depth which remains open. The Belen Cu-Au porphyry 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. The Belen project is contained within a 140 km by 50 km area, named the Valiente Project.

Highlights: Hannan has identified two spatially connected mineralized events at the Ricardo Herrera porphyry target at Belen, herein termed Early Porphyry One and Two. Early Porphyry One New results from an IP Pole-Dipole geophysical survey mapped a combined chargeable and resistivity zone over an area of 600 m by 300 m to 250 m depth. This unit is dated at 15.8Ma (± 0.1Ma) and is composed of a plagioclase hornblende porphyry with intermediate argillic alteration and relics of secondary biotite.

Veins are dominated by "early biotite", type M veins and type A veins. Observed sulphide minerals are pyrite, chalcopyrite, chalcocite and molybdenite. Early Porphyry Two The IP Pole-Dipole geophysical survey defined a larger combined chargeable and resistivity zone over an area of 800 m by 600 m on surface, and to at least 500 m depth, to the maximum depth limits of the geophysical survey.

This unit is dated 15.4 Ma (±0.1Ma) and 0.4 Ma younger than Early Porphyry One. It is composed of a hornblende-felspar porphyry dominated by phyllic alteration and quartz veins "type-A" with mineralization of pyrite and chalcopyrite in veinlets. To date, Early Porphyry Two demonstrates better leached geochemical results.