Agreement To Acquire Cerro Rolando Copper Porphyry Project

VANCOUVER - Hannan Metals Ltd. has entered into a Letter of Agreement with arm's length private parties that provide an option for Hannan to acquire up to 100% of the Cerro Rolando Copper Porphyry Project, located within the Paleocene metallogenic belt 100 km northwest of Calama, in Region 2 of northern Chile.

Michael Hudson, Chairman & CEO, said, "The Cerro Rolando project represents a key strategic move for the Company into Chile, one of Latin America's premier and endowed copper mining jurisdictions and plays to the Company's strengths in defining grassroots copper opportunities in Latin America. Critically the acquisition provides Hannan with a low-cost entry to drill test a high value porphyry copper exploration target in the short term, while awaiting drill permits on our vast and extensive Peruvian holdings."