Hannan Metals Limited announced that a significant copper-gold porphyry discovery has become evident at the Previsto Central prospect within the 100%-owned Valiente Project in Peru. Stream sediment sampling by Hannan in 2021 provided initial signs of a mineralized system at Previsto Central. The Company gained social access to the area late last year and prospecting work since the start of 2024 has confirmed that a significant copper-gold porphyry discovery exists in the area.

Previsto Central is defined by a large 10 km by 5 km airborne magnetic and radiometric anomaly. Alteration associated with porphyry intrusions is often magnetic potassic, and at Previsto where mapped mineralization is associated with areas of elevated magnetic and potassium indicating areas rich in magnetite and sericite/biotite/K-feldspar, minerals associated with porphyry alteration. The footprint dimensions of the alteration system at Previsto is considered significant on a global scale for a porphyry system.

This area will remain the main focus of the Company's upcoming field program during the dry season. This Previsto Central prospect is located 2.5 km west of the Previsto East. The style of mineralization observed at both prospects show strong similarities, where alteration assemblages and mineralization styles include hydrothermal breccias, intense phyllic alteration and relics of potassic alteration, roscoelite veining/dissemination and replacement of feldspars, observed sulfide minerals includes chalcopyrite, molybdenite, pyrite.

Veining is rare and generally only thin quartz and quartz-pyrite-iron oxide veinlets have been observed in boulders. Previsto Central exhibits highly anomalous soil geochemical anomalies over 1,000 m, with anomalous rock chip samples and numerous windows of exposed copper and gold mineralization within a 4 km by 1 km area. Preliminary soil sampling at Previsto Central has been collected at a 100 m to 200 m sample spacing.

The results show a strong correlation with copper mineralization in outcrop. The area defined by soil anomalies to date remains open but initial results indicate a significant footprint. Areas with more dense sampling show individual anomalies extending over 1,000 m long with soil samples commonly exceed 0.1 g/t gold and 0.025% copper.

The best channel sample result from six reconnaissance trenches was 0.25% copper over 5.8 m. Litho-geochemistry at Previsto shows a clear alkaline composition of the porphyry instructive host. The porphyries intrude sediments (sandstone, limestone, and shale) which show contact metasomatism around dykes and intrusive stocks. At Previsto East, a 1,800 m by 400 m area contains a high gold in soil anomaly associated with multiple large local copper and gold mineralized boulders, covered by scree and soil cover from 1 m to 5 m thick.

Previsto East could represent either a secondary alluvial deposit that is locally or distally sourced. A large-scale IP geophysical survey is in the initial stages of planning to map the bedrock of the extremely large Previsto Central and East target to test areas under cover, support drill planning and demonstrate the scale of the mineral system.