Hana Mining Ltd.
TSX VENTURE : HMG

Hana Mining Ltd.

May 08, 2008 11:34 ET

Hana Mining Confirms Large Potential of Ghanzi Copper-Silver Project in Botswana

New drill results show 2.69 %Cu, 52.64 g/t Ag over 13.0 meters (42.6 ft.) and 1.49 %Cu, 24.04 g/t Ag over 17.0 meters (55.8 ft.) in zones 13 km (8.1 mi.) apart

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 8, 2008) - Hana Mining Ltd. (TSX VENTURE:HMG) is pleased to report results from ten new holes completed as part of its ongoing 10,000 meter diamond drilling program at its sediment-hosted Ghanzi Copper-Silver Project in Botswana, Africa which confirm the large potential of the prospect. All ten holes intersected copper-silver mineralization in two zones. Three of the holes, HA-17, 18 and 19-D were drilled along a 200 meter strike length in Zone 1 and the remaining seven, HA-20-D and HA-22 to 27-D, were drilled along a 300 meter strike length in Zone 2 to the south-west. These two zones are located approximately 13 kilometers apart.

Company President Peter Wilson states, "This is an exceptional mineralized system and our drill results are beginning to show the tremendous upside potential of the Ghanzi project. Our drilling to date has focused on a 3-kilometer strike length at Zone 1 and a1-kilometer strike length at Zone 2. Repeated folding of the prospective horizon has resulted in a cumulative strike length of at least 200 kilometers within the project area."



Details of the results for the ten holes are as follows:
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CORE TOTAL
FROM TO LENGTH Cu Ag Re
ZONE HOLE NO. (m) (m) (m) (%) (g/t) (g/t)
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Zone 1 HA-17-D 225 238 13.0 2.69 52.64 1.74
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including 232 238 6.0 4.86 106.5 3.74
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Zone 1 HA-18-D 130 138 8.0 0.82 17.83 0.33
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including 135 137 2.0 2.42 54.53 1.22
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Zone 1 HA-19-D 125 134 9.0 0.99 24.19 0.27
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including 127 134 7.0 1.07 30.08 0.15
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Zone 2 HA-20-D 120 137 17.0 1.49 24.04 0.18
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including 131 136 5.0 2.3 35.12 0.39
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Zone 2 HA-22-D 63 74 11.0 1.38 17.20 0.17
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including 66 73 7.0 2.01 26.29 0.26
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Zone 2 HA-23-D 174 184 10.0 1.17 17.34 0.22
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including 178 184 6.0 1.57 23.25 0.32
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Zone 2 HA-24-D 140 148 8.0 1.05 16.42 0.11
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including 145 148 3.0 2.12 31.5 0.29
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Zone 2 HA-25-D 40 49 9.0 0.98 3.62 0.02
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including 43 49 6.0 1.32 5.11 0.03
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and 45 49 4.0 1.76 7.39 0.04
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Zone 2 HA-26-D 219.6 221.4 1.8 8.16 65.29 0.78
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Zone 2 HA-27-D 118 127.3 9.3 1.46 20.34 0.09
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The intercepts reported are core length and are estimated to be within 80% or more of true width. Drill sections and a 3D model can be viewed at http://www.corebox.net/properties/ghanzi/ or by following a link on the Company's website.

Highlights from Zone 1 include 13.0 meters grading 2.69 %Cu, 52.64 g/t Ag, 423 ppm Mo and 1.74 g/t Re in hole HA-17-D. This intercept includes 6.0 meters grading 4.86 %Cu, 106.5 g/t Ag, 909 ppm Mo and 3.74 g/t Re and is 60 meters vertically below hole HA-16-D that returned 3.48 %Cu and 92.50 g/t Ag over 4.0 meters. Rhenium (Re) is a rare metal with only 4.0 tonnes produced worldwide annually. It has a very high melting point is used in the aerospace and high tech industries. It is currently valued at approximately $8 per gram. Holes HA-18-D and HA-19-D tested the zone 100 meters and 200 meters along strike to the southwest, respectively. Hole HA-19-D returned 7.0 meters grading 1.07 %Cu and 30.08 g/t Ag indicating the zone is open along strike and down dip.

Highlights from Zone 2 include 17.0 meters grading 1.49 %Cu and 24.04 g/t Ag in hole HA-20-D, 11.0 meters grading 1.38 %Cu and 17.20 g/t Ag in HA-22-D, 10.0 meters grading 1.17 %Cu and 17.34 g/t Ag in HA-23-D and 9.3 meters grading 1.46 %Cu and 20.34 g/t Ag in HA-27-D. Hole HA-20-D was designed to twin a core hole drilled by Anglo American that returned 7.5 meters grading 1.38 %Cu. Holes HA-22 and 23-D, HA-24 and 25-D and HA-26 and 27-D were drilled on the same sections, respectively. Collectively the holes have tested Zone 2 along a 300 meter strike length and to a vertical depth of 150 meters.

These results are significant and show that mineralization is extensive along both limbs of an anticline. Zone 1 is open to the southwest and at depth. Zone 2 is on the south limb of the anticline and 13 kilometers from Zone 1 and is open along strike to the northeast and southwest as well as at depth. These results show that copper and silver mineralization are consistent and show continuity along strike. Copper mineralization in the form of bornite, chalcopyrite and chalcocite occur as finely disseminated specks, bands and laminae and coarse blebs in concordant and discordant veins and veinlets within chemically reduced mudstones and siltstones.

Current drilling is focused at Zone 2 on the south limb where drilling is being carried out at 200 meter spacing. A second core rig and a reverse circulation rig are scheduled to arrive on site in early May. Efforts will focus on strike continuation on the north limb at Zone 1 and the south limb at Zone 2 as well as targets generated by an ongoing IP geophysical survey and targets generated from previous drilling by Anglo American. As well, percussion drilling will be implemented shortly to assess targets identified by geochemical soil sampling and reprocessed airborne geophysical data.

Quality Assurance/Quality Control

Hana has implemented an industry-standard QA/QC program. Drill core is logged, split by sawing and sampled at site. Samples are bagged, labeled, sealed and packed in sealed containers and shipped to ALS Chemex laboratories in Johannesburg, South Africa. Standards, blanks and duplicates are inserted into the sample stream.

The Company also reports that, following a review of its investor relations initiatives, it has elected, effective April 30, 2008, not to continue its investor relations program with Agoracom Investor Relations Corp. and to conduct a greater portion of such initiatives in-house.

About Hana Mining

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 the right to acquire a 70% controlling interest in the Ghanzi Copper-Silver Project. The property consists of five license blocks covering 4,370 square kilometers that contain widespread sediment-hosted copper-silver mineralization.

Joseph Arengi, M. Sc., P. Geo., Vice President of Exploration for Hana Mining is the qualified person as defined in NI 43-101.

The TSX Venture Exchange has not reviewed and does not accept responsibility for adequacy or accuracy of the content of the information contained herein.

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