Hana Mining Ltd.
TSX VENTURE : HMG

Hana Mining Ltd.

March 16, 2007 17:18 ET

Hana Mining Modifies Terms of $550,000 Private Placement

TORONTO, ONTARIO--(CCNMatthews - March 16, 2007) - Hana Mining Ltd. (TSX VENTURE:HMG) announces that it is proceeding with the $550,000 non-brokered private placement disclosed in the news release dated February 5, 2007 although each unit will now consists of one common share and one half transferable share purchase warrant instead of one common share and one whole transferable share purchase warrant as previously announced. The number of units, the price of each unit and the terms and exercise price of the warrants remain the same.

The private placement will now consist of 5,000,000 units at a price of $0.11 per unit. Each unit is comprised of one common share and one half transferable share purchase warrant. Each whole warrant is exercisable into an additional common share for a period of twenty-four months from closing at a price of $0.17 per share. No commission will be payable in relation to this private placement.

The securities issued under this private placement are subject to a four month hold period expiring four months and one day from the closing date.

The proceeds of this private placement will be used by Hana Mining Ltd. for general working capital and to fund acquisition activities for high quality base, precious, and other mineral exploration projects.

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

HANA MINING LTD.

ON BEHALF OF THE BOARD OF DIRECTORS

Marek J. Kreczmer, MSc., P. Eng., Director

Hana Mining is a junior mineral exploration company seeking to acquire, explore and develop highly prospective precious, base metal and other mineral exploration projects worldwide.

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

Contact Information

  • Hana Mining Ltd.
    Marek J. Kreczmer
    CEO
    (416) 367-6876
    or
    Hana Mining Ltd.
    Erik H. Martin
    CFO
    (416) 367-6876