Projects
Sweden
Hannan Metals holds an option to acquire up to 100% of three gold projects in Sweden, totalling 8,405 hectares: Stavaträsk and Skellefteå North, in the Skellefteå district of northern Sweden, and Ädelfors, in Jönköping County in southern Sweden. The projects were acquired in June 2026 through a low-cost, share-based option structure; full terms were disclosed in the Company’s news release dated June 10, 2026. Diamond drilling commenced at Stavaträsk in June 2026.
The Swedish projects complement, and do not replace, the Company’s Peru projects, which remain its primary focus. The program allows Hannan to conduct near-term exploration in Sweden while its Peru work advances through permitting.
The projects
Stavaträsk — Located approximately 20 km north of the past-producing Boliden deposit, on the Vidsel–Röjnoret Shear System. Diamond drilling commenced in June 2026, with a staged program of up to 2,000 metres planned to test a structurally hosted gold–copper–silver system defined by surface and boulder sampling.
Link – Stavaträsk Gold Project
Ädelfors — A historic gold district in southern Sweden, officially worked since 1738 and mined to a reported vertical depth of approximately 240 m, with historic records reporting very high-grade gold and no known exploration drilling completed to date.
Link – Ädelfors Gold Project
Skellefteå North — On the same belt as Stavaträsk, approximately 40 km north-northwest of the city of Skellefteå. Third-party drilling in 2022 reported vein-hosted gold intercepts, and gold outcrops extend along a reported 6.5 km trend, of which less than 5% has been drill-tested.
Link – Skellefteå North Gold Project
Operating Environment
Sweden is positioning itself as a contributor to Europe’s domestic mineral supply under the EU Critical Raw Materials Act. It ranks among the top 10 jurisdictions in the most recent Fraser Institute Annual Survey of Mining Companies investment-attractiveness ranking, and offers established infrastructure, low-cost hydropower and a skilled workforce. The Stavaträsk drill permit was granted within approximately four weeks of application. The district supports near year-round drilling: an established forestry road network enables summer access, while winter snow cover allows rig movement across the terrain, with a short shoulder season around April–June.
Option Terms (summary)
The option grants Hannan the exclusive right to conduct initial assessment work on the three projects for six months from June 4, 2026. During that period, Hannan may issue up to 1,000,000 shares to maintain the option (400,000 on completion of at least 1,000 m of diamond drilling, and 600,000 on completion of at least a further 1,000 m). Subject to results and share issuance, Hannan may exercise the option to acquire a 100% interest by spending at least C$2,000,000 on exploration and issuing a further 3,500,000 shares, within two years of June 4, 2026. On exercise, a 2.0% net smelter return royalty is payable, which Hannan may repurchase in full at any time for C$3,000,000. Hannan may terminate the option at any time. The option is subject to TSX Venture Exchange acceptance. Full terms are set out in the Company’s news release dated June 10, 2026.