Mr. Michael Hudson reports

HANNAN COMPLETES MAIDEN DRILL PROGRAM AT HIGH-GRADE GOLD PROJECT STAVATRÄSK IN SWEDEN AND TSX-V ACCEPTS ACQUISITION FOR FILING

Hannan Metals Ltd. has completed its maiden diamond drill program at the Stavatrask gold project in the Skelleftea district of northern Sweden. The program comprises seven holes for a total of 1,040 metres. 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 has accepted for filing the company's option agreement dated June 10, 2026, to acquire a 100-per-cent interest in the Stavatrask, Skelleftea North and Adelfors gold projects in Sweden.

Key points:

• The maiden diamond drill program at Stavatrask has been completed, with seven 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.
• The TSX Venture Exchange has approved the company's option agreement to earn 100 per cent in three high-grade gold projects in Sweden, including Stavatrask.

Michael Hudson, chief executive officer, states: "Completing our maiden drill program at Stavatrask just weeks after announcing the Swedish deal, and now having the TSX-V 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 3-D geologic modelling are in progress. The true thickness of the mineralized intervals is not known at this stage.

Stavatrask project

Stavatrask is located in the Skelleftea mining district of northern Sweden, 20 km north of the Boliden deposit (4.24 Moz (million ounces) at 15.9 g/t (grams per tonne) Au historic production. The project occupies a strategic position on the Vidsel-Rojnoret 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 93 grams per tonne 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 one g/t to 154 g/t Ag) and 0.83 per cent Cu (range 0.003 to 2.43 per cent Cu) and is surrounded by historic drill collars for which assay data is largely unavailable.

Collectively, the outcrop and boulder field define a 750 m mineralized trend. Historic Boliden drilling in the 2000s, for which data is unavailable, traces the system over 2.5 kilometres of strike. The initial staged program of up to 2,000 m is designed to test the system at and below surface and to establish its scale, geometry and structural controls.

A compelling Boliden analogue

The Boliden deposit, mined from 1924 to 1967, with 8.3 million tonnes grading 15.5 g/t Au that yielded roughly 4.2 million ounces of gold alongside copper, silver and arsenic, and remains the defining benchmark for gold exploration across the entire Skelleftea district. It is classified as a metamorphosed, structurally remobilized volcanogenic massive sulphide (VMS) system, with gold hosted in dense arsenopyrite and the highest-grade gold carried in later quartz-tourmaline veins. The Skelleftea belt that hosts it is one of the most metal-endowed Palaeoproterozoic terranes globally, having produced over seven million ounces of gold across nearly 30 mines. Stavatrask lies within this well-endowed mineral belt, and the company's geological work has assembled a complete set of independent lines of evidence: geological, geochemical, structural and historical data that underline a compelling comparison between Stavatrask and Boliden. Taken together, these similarities make Stavatrask a geologically compelling Boliden analogue identified in the Skelleftea belt. The comparison is presented as a deposit-type and exploration-targeting analogue rather than a prediction of scale or grade: Stavatrask remains an early stage target defined by surface and boulder sampling and historic drilling for which recoverable data are limited, no mineral resource has been estimated, and continuity at depth has not yet been established.

Acquisition terms

The option acquisition cost will be paid through a staged issuance of common shares: 400,000 shares upon completion of the first drill program (issued); 600,000 shares upon completion of the second drill program of an additional 1,000 metres; and the remaining 3.5 million shares should the company proceed to complete its 100 per cent earn-in on the properties, including having financed a cumulative total of $2-million across all work programs. The vendor retains a 2-per-cent net smelter return royalty that the company may repurchase in full for $3-million.

Sweden: a Tier 1 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 Stavatrask, where a drill permit was secured in four weeks. The country ranks among the world's top 10 most attractive mining jurisdictions in the Fraser Institute's most recent survey, offering stable policy, established infrastructure, low-cost hydropower and a skilled work force. 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 around April to June.

Maintaining momentum in Peru

The large Previsto gold-copper prospect (Amanecer project) in Peru remains the company's flagship asset and primary focus, and the Swedish projects complement -- rather than replace -- that priority.

With the Previsto permitting timeline extending maiden drilling into 2027, and with the company well financed, Hannan has secured a low-cost, share-based entry into three high-grade gold projects -- structured to add exploration optionality with minimal upfront cash -- allowing the company to keep the drill bit turning and deliver near-term results for shareholders during the interim window.

About Hannan Metals Ltd.

Hannan Metals 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 per cent 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.

Michael Hudson, FAusIMM, Hannan's chairman and chief executive officer, a qualified person as defined in National Instrument 43-101, has prepared, reviewed, verified and approved the technical contents of this news release.

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