Hannan Metals Receives Approval for Initial Drilling at Valiente Project in Peru

On November 25, 2024, Hannan Metals Limited announced it received environmental approval for its maiden drilling program at the Belen prospect in Peru. This approval from Peru's Ministry of Mines includes 40 drill platforms over 702 hectares, targeting three key prospects: Ricardo Herrera, Vista Alegre, and Sortilegio.

The program aims to explore porphyry copper-gold and epithermal gold systems in these areas. CEO Michael Hudson highlighted the significance of this approval, indicating a positive shift in Peru’s permitting conditions. The project represents a small portion of Hannan's Valiente landholding, characterized by complex geological structures in the Central Cordillera.

Next steps for the project include reapplying for a Certificate of Non-Existence of Archaeological Remains, aiming to initiate activities by Q1 2025, with drilling to start in the dry season of Q2 2025.