Hannan announces that the follow-up diamond drill program has been completed at the Stavaträsk gold project in the Skellefteå district of northern Sweden (Figure 1), 20 km north of the historic Boliden mine. This second drill program of 1,255 m follows up the Company’s maiden seven-hole program, which intersected gold in every hole across 650 m of strike (see news releases dated August 13, 2026 and August 31, 2026), and the gradient-array IP survey completed in September 2026 (see news release dated September 10, 2026).
Beyond the Headline
Hannan announced the completion of its second diamond drilling program at Stavaträsk in the Skellefteå Mining District of northern Sweden, approximately 20 km north of the historic Boliden gold mine. The program comprised six holes totalling 1,255 m, bringing drilling completed by Hannan in 2026 to 13 holes totalling 2,295 m. Assays from the latest six holes are expected within eight weeks.
Significant earlier drill results are outlined in Table 1-1:
Table 1-1: Significant assay results in earlier frilling reported by Hannan Metals
| Hole | Interval (m) | Gold (g/t) |
| ST2606 | 59.6 | 1.1 |
| including | 4.6 | 7.2 |
| including | 1.9 | 15.7 |
| ST2605 | 1.1 | 15.6 |
| including | 0.6 | 27.8 |
| ST2604 | 9.2 | 1.3 |
| ST2607 | 3.2 | 1.4 |
The maiden drilling identified two mineralization styles along a structural corridor trending approximately 330° within the regional Vidsel–Röjnoret Shear System:
1) Southern zone: Quartz-arsenopyrite vein swarms within altered granodiorite, including the broad mineralized interval in ST2606, and
2) Northern zone: Higher-grade silica-arsenopyrite shear zones hosted by mudstone, approximately 650 m north of ST2606.
The second drill program tested down-dip and strike extensions of known mineralization and new chargeability targets more specifically as follows:
- Test the down-dip and strike extension of the granodiorite-hosted vein swarm around ST2606 (4.6 m @ 7.2 g/t Au, including 1.9 m @ 15.7 g/t Au);
- Test the strike extension of the mudstone-hosted high-grade shear zones intersected in ST2604 and ST2605 (1.1 m @ 15.6 g/t Au), approximately 650 m north of ST2606; and,
- Test chargeability anomalies outside the drilled area, including the principal 1,300m by 180m anomaly and newly generated off-trend targets.
Comment
Further commentary will be provided when assays for the final 6 holes are released.