New Hana Copper Mining Ltd.

New Hana Copper Mining Ltd.

May 05, 2011 18:33 ET

New Hana Grants Incentive Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 5, 2011) - New Hana Copper Mining Ltd. (TSX VENTURE:HML) (the "Company") announces that it has granted Incentive Stock Options (the "Options") to directors, employees and consultants of the Company to purchase up to an aggregate 3,300,000 common shares of the Company. The Options are exercisable at $0.50 per share and expire on May 6, 2016. All securities issued upon exercise of the Options are subject to a hold period expiring four (4) months after the date of grant. The subject Options will vest quarterly over 24 months, in 8 equal tranches, with the first tranche vesting on the date of grant. The Options are subject to the terms and conditions of the Company's Stock Option Plan.

About New Hana Copper's Kuke Copper-Silver Project in Botswana:

The exploration-stage Kuke Project is located in the center of the Kalahari Copper Belt in northwestern Botswana. The Kuke property covers 10,654 square kilometres and is adjacent and along strike to Hana Mining Ltd.'s ("Hana") Ghanzi Copper Silver Project. On April 21, 2010, Hana released the results of its NI 43-101 compliant resource estimate for the Ghanzi Project, announcing an inferred mineral resource of 3.9 billion pounds of copper and 62.1 million ounces of silver from 177 million tonnes.

The project will benefit from proposed rail and power infrastructure expansions, along with proximity to local population centers and workforce. A feasibility study is currently underway (funded by the World Bank and the Governments of Botswana and Namibia) to support completion of a rail line link that would connect Botswana with the Namibian port of Walvis Bay, on the Atlantic coast. The closest existing railhead to port is at Gobabis, in Namibia, approximately 550 km from our property. Construction has begun on the 600MW expansion of the government-owned Moropule Power Plant, having secured US$825 million project funding in May 2010. The Kuke Copper-Silver Project is currently accessed by the paved Trans-Kalahari highway, which passes within 5 km of the property.

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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