Hannans Reward/Pahtohavare gold-copper mine

The Pahtohavare Cu-Au Project comprises three deposits: namely Central (oxide, carbonate and sulphide ore); Southern (sulphide ore); and South Eastern (sulphide ore). It is located approximately 8km south-west of Kiruna, a full service mining town in northern Sweden. Hannans believes additional value at Pahtohavare can be obtained by completing first-pass metallurgical testwork on the high grade copper-gold oxide material from the Central Orebody, testing for a continuation of the copper sulphide mineralisation and completing geochemical sampling along the untested contact that hosts the known copper mineralisation. Hannans has engaged Independent Metallurgical Operations Pty Ltd (IMO) to complete Stage 1 of testwork on the oxide ore at the Central Orebody. Stage 1 has comprised a review of historical testwork reports and preparation of a testwork flowsheet for the oxide material. Quotes are being obtained to complete the laboratory testwork as defined in the flowsheet. The laboratory testwork will be split into two stages; Stage 1 will include sample receipt and preparation and initial ore characterisation tests. The results of the ore characterisation testwork will enable IMO to refine a budget for Stage 2 which will include laboratory testwork and reporting on the flotation and leaching performance of the oxide ore.