Hannan completes IP survey at Stavåträsk, plans 1,000 m drill program

Hannan Completes IP Survey at Stavaträsk Gold Project, Sweden 1,000 m Drill Program to Test Depth Extensions Next Month

Vancouver, British Columbia--(Newsfile Corp. - September 10, 2026) - Hannan Metals Limited (TSXV: HAN) (OTC Pink: HANNF) ("Hannan" or the "Company") announces completion of a gradient-array induced polarization (IP) survey over the Stavaträsk gold project in the Skellefteå district of northern Sweden (Figure 1), 20 km north of the historic Boliden mine. The survey is the first systematic geophysical coverage of the gold system and follows the Company's initial seven-hole drill program, announced August 13 and 31, 2026, which intersected gold in every hole across 650 m of strike. The IP data will be integrated with the drill results to define targets for a 1,000 metre second drill program scheduled to complete before the end of 2026.

Key Points:

Gradient-array IP survey completed at Stavaträsk, the first systematic geophysical coverage of the gold system.

Survey acquired on a 200 m grid covering a 3 km2 area with 100 m spaced infill and one dipole-dipole section over key drill area; data are now being processed and interpreted.

Follows the Company’s maiden seven-hole drill program (ST2601-ST2607), which returned gold in every hole and highlight intervals of 1.1 m @ 15.6 g/t Au including 0.6 m @ 27.8 g/t Au and 4.6 m at 7.2 g/t Au including 1.9 m at 15.7 g/t Au as announced on August 13th and August 31st, 2026, respectively.

Interpreted IP data, integrated with the maiden drill results, will guide a 1,000 metre second drill program scheduled to complete before the end of 2026. Both mineralization styles remain open at depth and along strike.

Michael Hudson, CEO, states: "The initial program gave us gold in every hole and confirmed the Stavaträsk system continues at depth. What it could not tell us is how big the system is. That is the job of this IP survey. Gold at Stavaträsk is carried by arsenopyrite and pyrite, exactly the sulphides that gradient-array IP is built to detect as chargeability anomalies, so we now expect to see the footprint of the system, not just the seven holes we have drilled into it. We have covered 3 km² at 200 m spacing, tightened to 100 m over the drilled area, and added a dipole-dipole line for dip and depth. Interpretation is underway and will drive a 1,000 metre follow-up program by next month. Stavaträsk is moving fast, and the next round of holes will be the best targeted we have drilled."

Technical Discussion

Geovisor Oy, a Finnish geophysical contractor, carried out the survey under the technical coordination of Precision Geophysics. Data were acquired on a 200 metre gradient-array grid covering 3 km 2 (Figure 3), with 100 metre infill over key areas including the maiden drill area, producing co-registered resistivity and chargeability data. Chargeability responds to the disseminated to semi-massive arsenopyrite and pyrite that host gold at Stavaträsk, while resistivity maps silica alteration and structure. A 2D dipole-dipole section across the drilled zone provides dip and depth information on mineralized structures. Processing and interpretation are underway.

Next Steps

A 1,000 metre follow-up drill program will test extensions of the two mineralization styles intersected in the maiden program, both of which remain open along strike and at depth. Targets will be defined by integrating the maiden drill results with the interpreted IP data, with drilling scheduled to complete before the end of 2026.

Stavaträsk Project

Stavaträsk is located in the Skellefteå Mining District of northern Sweden, 20 km north of the Boliden deposit (8.4 Mt at 15.5 g/t Au for approximately 4.2 Moz of historic production; source quoted in Figure 2). The project occupies a strategic position on the Vidsel-Röjnoret Shear System (VRSS), the same regional-scale terrane boundary that hosts Boliden.

Gold, silver and copper mineralization is structurally hosted, with massive to semi-massive arsenopyrite, pyrite and chalcopyrite with silica alteration. Outcrop samples return grades of up to 93 g/t Au and 24 g/t Ag. A boulder field located 650 m southeast of the main outcrop yielded eight samples averaging 3.2 g/t Au (range 0.1 g/t to 11.2 g/t Au), 67 g/t Ag (range 1 g/t to 154 g/t Ag) and 0.83% Cu (range 0.003% to 2.43% Cu) and is surrounded by historic drill collars for which assay data are largely unavailable.

Historical Data and Reporting Notes

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 widths of the mineralized intervals referred to in this news release are not known at this stage.

Sweden: A Tier-One European Mining Jurisdiction

Sweden is positioning itself as the cornerstone of Europe's domestic mineral supply under the EU Critical Raw Materials Act. The efficiency of its permitting regime is demonstrated firsthand at Stavaträsk, where a drill permit was secured in four weeks. The country consistently ranks among the world's most attractive mining jurisdictions in the Fraser Institute's Annual Survey of Mining Companies, offering stable policy, established infrastructure, low-cost hydropower and a skilled workforce. The district also supports near year-round drilling: an established forestry road network enables access through the summer, while winter snow cover allows rigs to move broadly across the terrain, with only a short shoulder season during the spring thaw.

Sampling, Analytical Methods and Quality Control

Whole drill core was logged and photographed by Company personnel and securely transported to MSALABS (MSA Analytical Services), an ISO/IEC 17025-accredited laboratory, at its facility in Storuman, Sweden, where the core was cut, sampled and prepared for analysis. The sample pulps were shipped to the MSALABS facility in Canada for analysis. Gold was determined on a 30 g charge by lead-collection fire assay fusion with an atomic absorption finish (method FAS-114), with high-grade samples re-assayed on a 30 g charge by fire assay with a gravimetric finish (method FAS-415). Multi-element analysis, including silver and copper, was carried out on a 0.25 g aliquot by four-acid digestion with ultra-trace ICP-ES/MS determination of 48 elements (method IMS-230); over-limit arsenic was determined by an ore-grade four-acid digestion with an ICP-ES finish (method ICF-6As). As part of its quality assurance and quality control program, the Company inserted certified reference materials at approximately one in fifteen samples and field duplicates at approximately one in fifty, and the laboratory operated its own internal program of blanks, standards and duplicates. The Qualified Person has reviewed the quality-control results and is satisfied that the assay data are reliable for the purposes of this disclosure.

About Hannan Metals Limited (TSXV: HAN) (OTC Pink: HANNF)

Hannan Metals Limited is an exploration company with a primary focus on advancing its Previsto gold-copper prospect (Amanecer project) in Peru, and an option to earn 100% in three high-grade gold projects in Sweden. Over the last decade, the team behind Hannan has forged a long and successful record of discovering, financing, and advancing mineral projects in Australia, Europe and South America.

Mr. Michael Hudson FAusIMM, Hannan's Chairman and CEO, a Qualified Person as defined in National Instrument 43-101, has prepared, reviewed, verified and approved the technical contents of this news release.

Further Information

Further discussion and analysis of the project is available through the Hannan Metals website at www.hannanmetals.com and the Hannan YouTube channel at www.youtube.com/@HannanMetals

Forward-Looking Statements. Certain disclosure contained in this news release may constitute forward-looking information or forward-looking statements, within the meaning of Canadian securities laws. These statements may relate to this news release and other matters identified in the Company's public filings. In making the forward-looking statements the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. These risks and uncertainties include but are not limited to: the political environment in which the Company operates continuing to support the development and operation of mining projects; the threat associated with outbreaks of viruses and infectious diseases; risks related to negative publicity with respect to the Company or the mining industry in general; planned work programs; permitting; and community relations. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Cautionary Note Regarding Deposit Comparisons and Surface Sampling. References in this news release to the Boliden deposit are provided as a geological deposit-type and exploration-targeting analogue only. Mineralization hosted on adjacent or nearby properties, including the Boliden deposit, is not necessarily indicative of mineralization on the Company's properties, and these comparisons are not a prediction of the scale, grade, tonnage or economic potential of the Stavaträsk project. Historic production figures for the Boliden deposit are derived from third-party sources that the Company has not independently verified. Rock chip, grab and boulder (float) sample results referred to in this news release are selective by nature, are collected to identify the presence or tenor of mineralization, and are not necessarily representative of the grade or style of mineralization across the property. Historic drilling at Stavaträsk was completed by third parties and recoverable assay and collar data are largely unavailable; such historic results have not been verified by a Qualified Person and should not be relied upon. The Stavaträsk, Skellefteå North and Ädelfors projects do not have any mineral resource or mineral reserve estimates prepared in accordance with National Instrument 43-101, and there is no certainty that exploration will result in the delineation of any mineral resource.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news.

Figure 1: Map of Sweden (green) showing locations of properties Stavaträsk, Skellefteå North and Ädelfors

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/5402/313802_db071e41d449d9da_003full.jpg

Figure 2: Geology map of the Skellefteå mineral belt, showing locations of major mining operations relative to the Stavaträsk and Skellefteå North properties.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/5402/313802_db071e41d449d9da_004full.jpg

Figure 3: Plan view of the Stavaträsk project showing surface geochemistry, drilling results and completed IP survey area.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/5402/313802_db071e41d449d9da_005full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313802

TMX Newsfile

September 10, 2026 - 3:30 AM PDT

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