Hana Mining Grants Incentive Stock Options
(firmenpresse) -
Hana Mining Grants Incentive Stock Options
Vancouver, BC – June 7, 2010 – Hana Mining Ltd. (TSX-V: HMG) (Frankfurt – 4LH) (the “Company”) announces that it has granted Incentive Stock Options (the “Options”) to purchase up to 2,500,000 common shares of the Company to Directors, Officers and Consultants of the Company. The Options are exercisable at $2.10 per share and expire on June 7, 2015. 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 September 7, 2010. The Options are subject to the terms and conditions of the Company’s Stock Option Plan.
Hana Mining’s CEO and Chairman, Marek Kreczmer, comments as follows:
“Hana’s most recent financing was completed at a price of $2.10 per share and in order to be fair to our shareholders, we have decided to grant options to directors, management and employees at the same share price. Hana Mining currently has nine drills actively drilling on the property and a well funded treasury that will enable it to complete its extensive drilling program. In addition, the Company has consistently added value to the Ghanzi copper silver mineralization by significantly expanding the resource through its exploration successes and we are therefore of the opinion that the current market share price does not represent the true value of the Company.”
About Hana Mining’s Ghanzi Copper-Silver Project in Botswana
The Ghanzi Project is located in the center of the Kalahari copper belt in northwestern Botswana. The Ghanzi property covers 2,169 sq. km., and contains sediment-hosted copper-silver deposits with a demonstrated cumulative tested strike length of 37.2 kilometres. This favourable geology extends over the entire strike length of 600 kilometres. The Company released results of its most recent NI 43-101 compliant resource estimate for the Ghanzi Project on April 21, 2010, announcing an inferred resource of 3.9 billion lbs of copper and 62.1 million oz of silver from 176.8 million tonnes. This resource estimate consists of 93.2 million tons grading 1.50% Cu and 17.5 g/t silver in the Banana Zone, Zone 5 and Zone 6 using a 0. 75 % Cu cut-off grade and 83.6 million tons grading 0.46% Cu and 3.6 g/t silver in the Chalcocite Zone using a 0.30% Cu cut-off grade.
The Banana Zone exhibits certain areas of higher grade Cu and Ag mineralization, particularly in the Sectors 10000, 20000 and 65000 shown on Figure 2 area and the fold nose at the northern end of the zone, which represent an opportunity to locate starter pits and mine initial tonnages at higher than average grades. These higher grade pockets tend to be well within open pit depth parameters and represent opportunities to improve early cash flow and overall returns in development.
The project will benefit from proposed rail and underway 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 2009..The Ghanzi Copper- Silver Project is currently accessed by the paved Trans-Kalahari highway, which passes within 15 km of the property.
The Ghanzi property contains one of Africa’s premier copper-silver resources.
For Further Information, contact:
Marek Kreczmer, CEO
Hana Mining Ltd.
Tel: (604) 676-0824
Email: info(at)hanamining.com
Website: www.hanamining.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.
Leseranfragen:
Hana Mining Ltd.
Hana Mining Ltd.
Suite 1620 - 701 West Georgia Street
Vancouver, BC
Canada V7Y 1K8
Telephone: 604-676-0824
Fax: 778-370-0146
Email: info(at)hanamining.com
Datum: 08.06.2010 - 10:31 Uhr
Sprache: Deutsch
News-ID 22073
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Town:
Wien
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Business News
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