Hana Mining Ltd.

Hana Mining Ltd.

August 30, 2007 14:17 ET

Hana Mining Announces Increase of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 30, 2007) - Hana Mining Ltd. (TSX VENTURE:HMG) is pleased to announce its intention to increase its non-brokered private placement, announced on July 30, 2007, by an additional 2,480,571 Units for an aggregate 8,230,571 Units, at a price of $0.35 per Unit for gross proceeds totalling $2,880,700. Each Unit will consist of one common share and one half of one transferable share purchase warrant. Each whole warrant will be exercisable into one additional common share of the Company for a period of 18 months from the closing date of the placement (the "Closing Date") at a price of $0.75 per share.

In the event that the common shares of Hana Mining trade on the TSX-V at or above the daily volume-weighted average trading price of $1.00 for 20 consecutive trading days at any time after four months and one day after the Closing Date, the Company may accelerate the expiry date of the warrants by giving notice to the holders thereof. In such case, the warrants will expire on the 30th day after the date on which such notice is given by the Company.

The Company will pay finder's fees in connection with a portion of the private placement consisting of 7% cash, of which the finder may elect to take all or a portion of the fees in Units. In addition, the Company will issue to the finder, share purchase warrants to purchase up to 7% of the number of Units sold (the "Finder's Warrants"). The Finder's Warrants will be exercisable at a price of $0.40 per common share for a period of 18 months following the Closing Date, and will not be subject to any accelerated expiry provision.

The transaction is subject to regulatory approval. All of the securities issued under this private placement will be subject to a four-month hold period.

The offered securities will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold within the United States or to or for the account or benefit of U.S. persons, except in certain transactions exempt from the registration requirements of the U.S. Securities Act. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities of the Company in the United States.


Hana Mining is a junior exploration company seeking to acquire, explore and develop highly prospective precious, base metal and other mineral projects worldwide with emphasis in southern Africa. The Company has signed a letter of intent to acquire a 70% controlling interest in the Ghanzi Copper Project, a highly prospective property in north-western Botswana. Consisting of five license blocks covering 4,370 square kilometres, the project lands are host to widespread sediment-hosted copper mineralization.

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

Contact Information