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Hana Mining Ltd.

Published : June 07th, 2010

Grants Incentive Stock Options

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Keywords :   Botswana | Copper | Market | Namibia | Silver |
Monday, June 07, 2010
NEWS RELEASE
 
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@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.

You can also view this News Release on our website at:
http://www.hanamining.com/s/NewsReleases.asp?ReportID=403732
 

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Hana Mining Ltd.

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CODE : HMG.V
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Hana Mining is a copper and silver development stage company based in Canada.

Hana Mining holds various exploration projects in Botswana.

Its main exploration property is GHANZI in Botswana.

Hana Mining is listed in Canada and in Germany. Its market capitalisation is CA$ 80.6 millions as of today (US$ 78.4 millions, € 58.5 millions).

Its stock quote reached its lowest recent point on March 27, 2009 at CA$ 0.06, and its highest recent level on December 17, 2010 at CA$ 5.68.

Hana Mining has 99 494 000 shares outstanding.

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Financings of Hana Mining Ltd.
2/7/2012Announces Completion of Non-Brokered Financing and Investmen...
1/30/2012Announces Final Allocation of Previously Announced Financing
1/27/2012Announces Non-Brokered Financing
5/20/2010Closing of Bought-Deal Private Placement
4/30/2010Arranges $21Million Bought-Deal Private Placement
5/27/2009has closed the first tranche of its brokered private placeme...
Nominations of Hana Mining Ltd.
11/7/2012New Hana Mining Builds the Corporate Structure with Appointm...
5/5/2011Appoints New Chief Financial Officer
4/5/2011shareholders overwhelmingly approve the appointment of three...
3/21/2011Announces the Nomination of Three Highly Experienced Candida...
7/19/2010Appointment of Pat Donnelly, former mining analyst, as VP Co...
Project news of Hana Mining Ltd.
2/8/2013Receives Approval from Botswana Minister of Minerals, Energy...
1/10/2013(Ghanzi)Receives Renewal of Ghanzi Project Prospecting Licenses
10/25/2012Agrees To C$0.82 Per Share All-Cash Acquisition By Cupric Ca...
8/20/2012Expands Zone 5 at Depth with Strong Drill Results
8/13/2012Continues to Hit High-Grade Copper-Silver Mineralization at ...
6/29/2012(Ghanzi)Files Ghanzi Preliminary Economic Assessment Technical Repor...
4/17/2012continues to hit high-grade copper-silver mineralization at ...
2/21/2012(Ghanzi)Infill drilling at the Northeast Fold confirms new geologica...
6/13/2011(Ghanzi)Comments on Share Price - Drilling Continues
5/26/2011(Ghanzi)Provides Update on Banana Zone
3/14/2011(Ghanzi)Provides Update on Banana Zone Preliminary Economic Assessme...
8/5/2010(Ghanzi)RC Drilling in Banana Zone Intersects 3.40% Cu and 48.0 g/t ...
7/14/2010(Ghanzi)Expands Banana Zone at Ghanzi Copper-Silver Project by 4.2 K...
6/18/2010(Ghanzi)Expands Banana Zone by 7 Kilometres
6/3/2010(Ghanzi)Expands Chalcocite Zone - New Drilling Increases Strike Leng
5/19/2010Files NI 43-101
3/30/2010(Ghanzi)RC drilling in Banana Zone intersects 1.63% Cu and 39.5 g/t ...
3/4/2010(Ghanzi)RC drilling in Banana Zone intersects 1.90% Cu and 17.4 g/t ...
1/5/2010(Ghanzi)New VP Engineering to Support Ghanzi Copper-Silver Project P...
12/8/2009drilling intersects 1.84% Cu and 23.6 g/t Ag over 7 metres i...
10/1/2009(Ghanzi)Announces New President and COO to Drive Ghanzi Copper-Silve...
9/28/2009(Ghanzi)RC drilling intersects 2.53% Cu and 32 g/t Ag over 17 metres...
9/15/2009(Ghanzi)Reports Positive Results From a Preliminary Groundwater Inve...
8/26/2009(Ghanzi)Letter from the CEO-Hana Mining Ltd.
7/15/2009(Ghanzi)Agrees to Purchase 100% of Ghanzi Copper-Silver Project in B...
6/25/2009(Ghanzi)43-101 Technical Report for Ghanzi Copper-Silver Deposit, Bo...
5/28/2009(Ghanzi)New results at Ghanzi Copper-Silver Project in Botswana
Corporate news of Hana Mining Ltd.
2/20/2013Completes Arrangement with Cupric Canyon Capital LP
2/14/2013Receives Approval From Botswana Competition Authority
2/5/2013Intersects 4.03% Cu and 50.7g/t Ag over 14 m Further Increas...
2/4/2013Provides Update on Arrangement with Cupric Canyon Capital
1/7/2013Receives Final Court Order for Arrangement with Cupric Canyo...
12/11/2012Advises Regarding Shareholder Meeting
11/1/2012Discovers New Mineralization Further Increasing the Size of ...
10/26/2012from DML's Neighbour, Hana Mining
10/23/2012Reports Consistent High Grades over Thick Intersections at Z...
10/22/2012New Hana Mining Builds Corporate Advisory Team
9/24/2012Finds Strong Copper-Silver Mineralization from New Drill Pro...
9/18/2012Welcomes Two New Board Members
8/27/2012Reports More Strong Results from Zone 5 including 4.54% CuEq...
8/1/2012Drilling continues to encounter down-dip mineralization and ...
7/24/2012Diamond Drilling Extends Down Dip Extension and Confirms Thi...
7/16/2012announces high-grade copper-silver mineralization from Zone ...
5/23/2012Shares Commence Trading on the Botswana Stock Exchange
5/14/2012(Ghanzi)Announces Positive Preliminary Economic Assessment for the G...
3/28/2012Diamond Drilling Extends the Strike and Down Dip Extension o...
3/27/2012to Cancel the Issuance of Stock Options
3/12/2012Diamond drilling encounters consistent high-grade copper-sil...
2/27/2012Infill drilling continues to encounter consistent high-grade...
1/24/2012Infill drilling encounters some of the best intercepts of co...
1/9/2012Infill drilling encounters consistent high-grade copper-silv...
11/28/2011Infill Drilling Again Encounters Consistent High-Grade Coppe...
10/24/2011(Ghanzi)announces the appointment of a highly experienced Technical ...
10/3/2011announces exceptional silver recoveries from oxide-transitio...
9/20/2011(Ghanzi)announces the appointment of highly experienced and successf...
9/13/2011Infill drilling again encounters consistent high-grade coppe...
8/29/2011Infill drilling continues to encounter consistent high-grade...
8/22/2011Infill drilling encounters high-grade copper-silver minerali...
8/15/2011(Ghanzi)announces the appointment of a highly experienced Project Di...
7/26/2011Infill Drilling Again Encounters Thick Intersections of Copp...
7/11/2011Infill drilling still continues to encounter thick intersect...
6/16/2011Infill drilling continues to encounter thick intersections o...
6/13/2011Comments on Share Price-Drilling Continues
4/19/2011Infill Drilling Extends Copper-Silver Mineralization by 300 ...
7/8/2010Comments on Share Price-Drilling Continues
5/25/2010Revisions to Arrangement for Spin-out of New Hana Copper Min...
4/29/2010Letter to Shareholders
3/19/2010New Advisory Board Member
3/5/2010New Chief Financial Officer
1/22/2010Spin-Out of Kuke Property to New Hana Copper Mining Ltd.
7/13/2009Botswana ranked as most favourable mineral investment climat...
6/1/2009completion of inferred resource estimate - Ghanzi Copper-Sil...
5/30/2009Completes $3.2 Million Placement
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TSX-V (HMG.V)FRANKFURT (4LH.F)
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