Vancouver, British Columbia--(Newsfile Corp. - July 6, 2026) - Hannan Metals Limited (TSXV: HAN) (OTC Pink: HANNF) ("Hannan" or the "Company") announces that it has completed its maiden diamond drill program at the Stavaträsk gold project in the Skellefteå district of northern Sweden (Figure 1). The program comprised 7 holes for a total of 1,040 m. Assay results are expected within the next six weeks, with a second 1,000-metre program planned following review of initial assay results. In addition, the TSX Venture Exchange ("TSXV") has accepted for filing the Company's Option Agreement dated June 10, 2026 to acquire a 100% interest in the Stavaträsk, Skellefteå North and Ådelfors gold projects in Sweden.
Key Points:
The maiden diamond drill program at Stavaträsk has been completed, with 7 holes drilled for 1,040 m, testing the geometry, continuity and structural controls of this high-grade structurally-hosted gold–copper–silver system.
Assay results from the drill program are eagerly awaited and are expected within the next six weeks. A second 1,000 m program is planned following review of initial assay results.
TSXV has approved the Company's Option Agreement to earn 100% in three high-grade gold projects in Sweden, including Stavaträsk.
Michael Hudson, CEO, states: "Completing our maiden drill program at Stavaträsk just weeks after announcing the Swedish deal, and now having the TSXV accept the Option Agreement for filing, 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 km along strike from where we drilled.
"We now look forward to receiving assays from this first 1,040 m and then drill a second 1,000 m subject to 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.