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Hana Mining Ltd.: Hana Mining Reports

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^{Published in Business and Finance on Friday, March 20th 2009 at 15:38 GMT, Last Modified on 2009-03-20 15:39:09 by Market Wire}  

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 20, 2009) - Hana Mining Ltd. (TSX VENTURE:HMG)(FRANKFURT:4LH) (the "Company") announces that it proposes to extend the expiry date of the share purchase warrants to purchase up to 1,984,570 common shares at an exercise price of $0.17 per share issued in connection with a non-brokered private placement completed April 4, 2007. Two share purchase warrants currently entitle the holder thereof to purchase one common share of the Company until April 7, 2009.

The application to amend the warrants is subject to its acceptance by the TSX Venture Exchange and the Company makes no assurances that the required acceptance for the extension of the term of the warrants will be granted.

The Company also announces that it has agreed to settle an aggregate debt of $12,500 owed to certain creditors by the issuance of 156,250 of its common shares at a deemed price of $0.08 per share. All shares to be issued in connection with the proposed debt settlement will be subject to a 24 month resale restriction.

The proposed debt settlement is subject to the approval of the TSX Venture Exchange.

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.