Hannan Metals Limited ("Hannan" or the "Company") announced the initiation of baseline studies and permitting to undertake advanced exploration work, including diamond drilling, at its 100% owned Tabalosos Copper-Silver Prospect at the San Martin Joint Venture Project in Peru. Japan Oil, Gas and Metals National Corporation ("JOGMEC") has the option to earn up to a 75% beneficial interest from Hannan in the San Martin Project by spending up to $35,000,000 to deliver to the joint venture ("JV") a feasibility study. Hannan has received approval from two local hamlets at Tabalosos to initiate work for an Environmental Impact Statement (Declaración de Impacto Ambiental, or "DIA") study. The DIA is the primary environmental certification required to allow low impact mineral exploration programs, that include diamond drilling, to proceed in Peru; The area for the DIA allows for 40 drill platforms and covers an area approximately 9 kilometres long and 3 kilometres wide (2,700 hectares), including the main target areas across both hamlets of Cunchiyacu and Pucayoc at Tabalosos East; Baseline studies for the DIA will take approximately 3 months to be completed and will involve up to 12 specialist consultants during May and June undertaking socio-economic and environmental baseline studies, environmental monitoring, archaeological investigations, community workshops and liaison activities. Final DIA and other approvals are anticipated during early 2022. The DIA is the primary environmental certification required to allow low impact mineral exploration programs, that includes drilling programs, to proceed in Peru. Work for the DIA will include professional archaeological investigations, community workshops and liaison activities to collect appropriate information necessary to make submittals for approval to the General Directorate of Mining Environmental Affairs of the Ministry of Energy and Mines, Peru. Final DIA and other approvals are anticipated during early 2022. Hannan continues to explore, derisk and develop drill targets within the large area at Tabalosos. Eight geologists and additional team members are in site performing BLEG stream sediment sampling, prospecting, mapping, rock chip sampling, trenching and detailed soil sampling.