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Hispania Resources Inc
Symbol ESPN
Shares Issued 100,170,779
Close 2026-01-22 C$ 0.075
Market Cap C$ 7,512,808
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Hispania Resources completes Lumbrales site visit

2026-01-23 00:39 ET - News Release

Mr. Norman Brewster reports

HISPANIA RESOURCES COMPLETES PRE PROGRAM WORK AT PAST PRODUCING ASSET LUMBRALES

Management and members of Hispania Resources Inc.'s local mining team in Spain has completed a visit at the Lumbrales site in Salamanca, and particularly the Maria Tere past-producing mine. The intent of this visit was to meet with local stakeholders, review existing infrastructure at site as well as plan out the 2026 work plans for Lumbrales. As a result of this activity, the company has laid out a confirmation drilling program at Maria Tere and will simultaneously engage in surface rehabilitation of on-site infrastructure and facilities.

The company is currently reviewing contracts with contractors and service providers and intends to begin activities at site within the next few weeks.

During the period at site, the company's geological personnel carried out sampling and reviewed all data related to the geological resource. For the first time, geological investigation related to two artisanal workings situated south of the Maria Tere mine site was carried out. These workings will be further evaluated during the planned drilling campaign at the Maria Tere site. "We are pleased to have had some confirmational work completed at site and, more importantly, identified new opportunities to the south," stated Norman Brewster, chief executive officer of the company.

"One of the key reasons for acquiring this property was the excellent infrastructure leading to and at site. With the need for critical minerals and the upgraded price of tin and tungsten, the company look at additional targets on the property," continued Mr. Brewster. As a form of reference, the Maria Tere mine was last put into production by the Spanish company Minera del Duero SA until 1986. During this period, the capacity of the mine and plant was 400 tonnes per day for a 10-hour day. On termination of operations, the mine had a remaining resource of 2.5 million tonnes with a grade of 0.25 per cent tin. At that time, there was an additional exploration target of three million tonnes. On closure, the infrastructure at site consisted of two shafts to approximately 150 metres and 2,272 metres of four-metre-by-four-metre galleries with an inclined shaft of 651 metres all to a depth of approximately 200 metres.

About Hispania Resources Inc.

Hispania Resources is a mineral exploration company focused on mining opportunities in Spain. Hispania is currently focused on developing three core assets across Spain, including the copper-zinc project Otero, the formerly producing tin project Lumbrales and the copper-zinc Puebla de la Reina project. The management of Hispania contains industry veterans who have more than 120 years of mineral exploration and production experience in multiple jurisdictions and have successfully managed multiple international mining companies. This includes in Spain, where some of the team was responsible for the founding and building of Iberian Minerals with the continued support of the local and regional governments, including the well-developed and sophisticated transportation and mining infrastructure.

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