Ann: Hannans - Forrestania Nickel Drilling, page-2

Nickel Drilling at Forrestania Reverse circulation (RC) drill testing of six discrete nickel targets has commenced – assay results are anticipated to be available in January 2020 Ground electromagnetic (EM) surveys ongoing and scheduled for completion in early DecemberHannans Ltd (ASX:HNR) advises shareholders that reverse circulation (RC) drill testing of six discrete nickel targets has commenced at the Company’s 100% owned Forrestania Nickel Project (“FNP”), located approximately 120km south of Southern Cross and 80km east of Hyden, in the Goldfields region of Western Australia. Refer to Figure 1 on Page 2 for a regional location map.The nickel targets comprise geological, geochemical and geophysical targets located along the interpreted western ultramafic belt (WUM) within Hannans tenure. The WUM is host to two world class operating nickel sulphide mines1 owned by Western Areas Ltd (ASX:WSA).This first RC program will comprise six holes to an average depth of approximately 220m (total program circa 1,320m). The targets were generated by consulting firm Newexco Exploration following an extensive review of historic exploration databases2. Refer to Figure 2 on Page 3 for a map showing drill collar locations for the first six holes. Assays results are anticipated to be available in January 2020. Holes will be cased with PVC to enable down-hole geophysical surveys to be completed next Quarter.Ground EM surveys proximal to the Western Ultramafic Belt (WUB) and the Mid-Western Ultramafic Belt (MWUB) are nearing completion3. Interpretation of the data collected is on-going. Targets generated by the surveys, will be tested in the second RC drill program scheduled for next Quarter.Hannans believes the nickel commodity market is moving into a higher price environment4 and that the Company has the ground, technical team and shareholder support to make the first major nickel sulphide discovery at Forrestania in the last 13 years.