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Hana Mining Ltd.: Hana Mining Grants Incentive Stock Options

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  Published in Business and Finance on Friday, October 9th 2009 at 14:17 GMT by Market Wire
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 9, 2009) - Hana Mining Ltd. (TSX VENTURE:HMG)(FRANKFURT:4LH) (the "Company") announces that it has granted Incentive Stock Options (the "Options") to purchase up to 50,000 common shares of the Company to a Consultant of the Company. The Options are exercisable at $0.57 per share and expire on October 9, 2014. All securities issued upon exercise of the Options are subject to a hold period expiring four (4) months after the date of grant. Fifty percent (50%) of the subject Options will vest each quarter, commencing on the date of grant. The Options are subject to the terms and conditions of the Company's Stock Option Plan.

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 country of Botswana is considered by the Fraser Institute Annual Survey of Mining Companies 2009 country ranking study to offer the most attractive mineral exploration and investment climate in Africa. The Ghanzi property covers 2,200 sq. km., and contains sediment-hosted copper-silver deposits with a demonstrated cumulative mineralized strike length of over 13 kilometres. This favourable geology extends over the entire strike length of 600 kilometres. Hana Mining recently released results of it's first NI 43-101 resource estimate for the Ghanzi Project (see press release dated June 1, 2009), announcing an inferred resource of 2.0 Billion lb. of copper and 34.9 Million oz. of silver contained in 60.4 million tonnes of ore. This resource estimate assumes a 0.75% Cu cutoff grade, and averages 1.51% Cu and 17.98 g/t Ag. The Banana Zone represents 40.7 million tonnes of this total resource (67%), and is the current focus of the Company's drilling efforts and development focus for 2009 and 2010.

Hana Mining is focused on demonstrating that the Ghanzi property represents one of Africa's premier future copper-silver resources.

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.