Hana Mining Ltd.

Hana Mining Ltd.

October 01, 2009 17:15 ET

Hana Mining Announces $150,000 Non-Brokered Private Placement and Grants Incentive Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2009) - Hana Mining Ltd. (TSX VENTURE:HMG) (FRANKFURT:4LH) (the "Company") is pleased to announce that it has accepted a non-brokered private placement for proceeds of $150,000. The non-brokered private placement will consist of 416,667 units (the "Units") at a price of $0.36 per Unit. Each Unit will consist of one common share and one non-transferable common share purchase warrant (the "Warrants"). Each Warrant will entitle the holder to acquire, upon exercise, one common share of the Company at a price of $0.60 per share for a period of two (2) years from the date of closing. All securities issued and issuable under the non-brokered private placement are subject to a hold period expiring four (4) months after the closing date.

The net proceeds of this private placement will be used to fund ongoing exploration of the highly prospective Ghanzi Copper-Silver Project located in the Republic of Botswana.

The private placement is subject to acceptance by the TSX Venture Exchange.

The Company further announces that it has granted Incentive Stock Options (the "Options") to purchase up to an aggregate 750,000 common shares of the Company to Officers, Directors and Consultants of the Company. The Options are exercisable at $0.36 per share and expire on October 1, 2014. All securities issued upon exercise of the Options are subject to a hold period expiring four (4) months after the date of grant. Twenty-five percent (25%) of the subject Options will vest each quarter, commencing on the date of grant. The Options are subject to the terms and conditions of the Company's Stock Option Plan.

Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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