Hannan Commences Drilling at High-Grade Gold Project Stavaträsk, Sweden

About this update from Hannan Metals Ltd.

Vancouver, British Columbia--(Newsfile Corp. - June 22, 2026) - Hannan Metals Limited (TSXV: HAN) (OTC Pink: HANNF) ("Hannan" or the "Company") announces that it has mobilized a diamond drill rig and commenced drilling at the Stavaträsk gold project in the Skellefteå district of northern Sweden. The drill rig mobilized as planned and the first hole was collared twelve days after the deal was announced on 10 June 2026 (Figure 1). The initial program comprises 6 to 8 holes averaging 120 to 200 metres in depth, for a total of approximately 1,000 metres, with a second 1,000-metre program planned immediately following review of initial assay results within 2-4 weeks. Key Points: Michael Hudson, CEO, states: "Commencing drilling at Stavaträsk within just twelve days of announcing the Swedish deal, is the kind of momentum that speaks to Sweden's standing as a country that is genuinely open for business. Boliden is one of Europe's highest-grade gold mines, with 4.2 million ounces at 15 g/t gold, and it sits just 20 kilometres along strike from our drill rig. "We look forward to running the first 1,000 metres, receiving drill assays, and then returning to drill the second 1,000 metres informed by those results. Previsto in Peru remains our flagship project and primary focus; the Swedish program is designed to complement that work, not replace it, while Previsto advances through permitting toward planned maiden drilling in 2027." Technical Background The team behind Hannan has decades of combined exploration experience across the Nordic region, bringing deep local knowledge, relationships and operating capability to the portfolio. These historical data have not been verified by Hannan and are quoted for informational purposes only. It is believed that the primary analysis for gold was completed by fire assay with atomic absorption finish. Compilation of available data and 3D geologic modelling are in progress. The true thickness of the mineralized intervals is not known at this stage. Stavaträsk Project Stavaträsk is located in the Skellefteå Mining District of northern Sweden, 20 km north of the Boliden deposit (4.24 Moz @ 15.9 g/t Au historic production - source quoted in Figure 2) (Figures 2 and 3). The project occupies a strategic position on the Vidsel-Röjnoret Shear System (VRSS), the same regional-scale te...

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