Hannan Metals Limited announced that it has received its environmental permit, the Declaracion de Impacto Ambiental, from the Ministry of Mines in Peru. The DIA is the primary environmental certification required to allow low impact mineral exploration programs, that includes drilling programs, to proceed at the San Martin copper-silver project in Peru. Next steps are to apply for the Authorization to Initiate activities from the DGM (General Directorate of Mining from the Ministry of Mines), a process that takes 1 to 3 months, and then the Water Use Permit from the Peru National Water Authority which should see drill rigs on the ground in San Martin at the start of Second Quarter 2024.

As no indigenous population exists within the DIA area, Prior Consultation ("Consulta Previa") does not apply; The copper-silver mineralized shale drill target at San Martin averages 0.9 m thickness at 1.9 % copper and 27 g/t silver from 105 surface channels and has been further defined by soil sampling and LiDAR over an area of 9-km-long by 1-km-wide area that is interpreted to extend with shallow dips to the west for between 2-4 km, with a target depth ranging from surface to 500 m. San Martin Copper-Silver Project: Sediment-hosted stratiform copper-silver deposits are among the two most important copper sources in the world, the other being copper porphyries. Quoted resources in 2019 for KGHM were 1,518 Mt @ 1.86% copper and 55 g/t silver from a mineralized zone that averages 0.4 m to 5.5 m thickness. To provide context, Hannan's widths and grade (0.9 m @ 1.9 % copper and27 g/t silver) from 105 channel surface samples reported at San Martin (lower cut 0.5% copper), within an area about 9 km long and 1 km wide, compare with those found during the initial modern-day drill discovery of the Kupferschiefer copper-silver deposits.

In 1957 the discovery drillhole (Sieroszowice IG 1) intersected 2.0 m @ 1.5% copper at the depth of 657 m. In 1959 the Lubin-Sieroszowice deposit, based on the results from 24 drillholes contained 1,365 Mt @ 1.4% copper and 26 g/t silver in indicated resources, with a thickness ranging between 0.2-13.1 m in an area about 28 km long and 6 km wide between 400 m and 1,000 m depth. Hannan's sampling, to date, has been confined to surface channel sampling, although mineralization at Tabalosos East is interpreted to extend with shallow dip to the west for between 2 -4 km, with a targetdepth ranging from surface to 500 m.