VANCOUVER, Nov. 9, 2018 /CNW/ - Hannan Metals
Limited ("Hannan" or the "Company") (TSXV: HAN) (OTCPK:
HANNF) is pleased to announce the results from its Annual
General Meeting of Shareholders held on Friday, November 9, 2018 (the "AGM") in
Vancouver, BC.
Shareholders holding a total of 19,064,750 common shares were
represented in person or by proxy at the AGM, representing 40% of
the votes attached to all outstanding common shares of the Company
as at the record date. Shareholders voted in favour of all
the matters submitted before the AGM as set out in the Notice of
Meeting and Information Circular dated October 2, 2018, including:
- Setting the size of the Board to five directors and electing
the following as directors until the next annual shareholder
meeting of the Company: Michael
Hudson, Ciara Talbot,
Georgina Carnegie, Nick DeMare and David
Henstridge;
- Appointing Davidson & Company, Chartered Professional
Accountants, as the Company's auditor for the ensuing year;
and
- An ordinary resolution approving a new 10% rolling Stock Option
Plan.
Subsequent to the AGM, the Board re-appointed Mr. Hudson as
Chairman and CEO, Mr. DeMare as President, Mr. Harvey Lim as Chief Financial Officer, Mr.
Lars Dahlenborg as Vice President of
Exploration and Ms. Mariana Bermudez
as Corporate Secretary. Messrs DeMare, Henstridge and Ms. Talbot
were appointed as members of the Audit Committee.
About Hannan Metals Limited (TSX.V:HAN) (OTCPK:
HANNF)
Hannan Metals Limited has 100% ownership of the County
Clare Zn-Pb-Ag-Cu project in Ireland, which consists of 9 prospecting
licences for 32,223 hectares. Zinc remains in tight supply
amidst rising demand and stagnant supply. Ireland is a leading global jurisdiction for
zinc mining and exploration.
This maiden mineral resource for Kilbricken was published in
July 2017, and immediately ranks
Kilbricken as one of the top ten base metal deposits discovered in
Ireland by tonnes and grade. Total
indicated mineral resources were calculated as 2.7 million tonnes
at 8.8% zinc equivalent ("ZnEq"), including 1.4 million tonnes at
10.8% Zneq and total inferred mineral resources of 1.7 million
tonnes at 8.2% ZnEq, including 0.6 million tonnes at 10.4% ZnEq.
Importantly, the initial resource is expandable at all scales, from
near resource to prospect scale.
Over the last decade, the team behind Hannan has forged a long
and successful record of financing and discovering mineral projects
in Europe. Additionally, the team holds extensive zinc
experience, gained from the world's largest integrated zinc
producer of the time, Pasminco Ltd.
Mr. Michael Hudson FAusIMM, Hannan's Chairman and CEO, a
Qualified Person as defined in National Instrument 43-101, has
reviewed and approved the technical disclosure contained in this
news release.
NI 43-101 Technical Report:
On August 22, 2017, Hannan filed
an independent National Instrument 43-101 Technical Report (the "NI
43-101 Technical Report") on The Mineral Resource Estimate for the
Kilbricken Zinc-Silver-Lead-Copper Project Co. Clare, Ireland For Hannan Metals Ltd in
support of the Company's news release dated July 10, 2017. The NI 43-101 Technical Report was
authored by Mr. Geoff Reed of Reed
Leyton Consultants and Dr. John
Colthurst who are independent "qualified persons" as defined
by National Instrument 43-101. The NI 43-101 Technical Report
may be found under the Company's profile on SEDAR
at www.sedar.com and on the Company's website
at www.hannanmetals.com. The zinc equivalent (ZnEq) value was
calculated using the following formula: ZnEq% = Zn % + (Cu% *
2.102) + Pb% * 0.815) + (Ag g/t * 0.023) with assumed prices of Zn
$2587/t; Cu $5437/t; Pb $2108/t
and Ag $18.44/oz.
On behalf of the Board,
"Michael Hudson"
Michael Hudson, Chairman & CEO
Forward Looking Statements
Certain information set forth in this news release contains
"forward-looking statements", and "forward- looking information"
under applicable securities laws. Except for statements of
historical fact, certain information contained herein constitutes
forward-looking statements, which include the Company's
expectations regarding future performance based on current results,
expected cash costs based on the Company's current internal
expectations, estimates, projections, assumptions and beliefs,
which may prove to be incorrect. These statements are not
guarantees of future performance and undue reliance should not be
placed on them. Such forward-looking statements necessarily involve
known and unknown risks and uncertainties, which may cause the
Company's actual performance and financial results in future
periods to differ materially from any projects of future
performance or results expressed or implied by such forward-looking
statement. There can be no assurance that forward-looking
statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such
statements. The Company undertakes no obligation to update
forward-looking statements if circumstances or management's
estimates or opinions should change except as required by
applicable securities laws. The reader is cautioned not to place
undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
SOURCE Hannan Metals Ltd.