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Hispania Resources to Begin On-Site Preparations for Exploration Program at Las Herrerias, on the Puebla de la Reina Property, Spain

2023-01-31 05:37:31

Toronto, Ontario–(Newsfile Corp. – January 31, 2023) – Hispania Resources Inc. (TSXV: ESPN) (“Hispania” or the “Company“) wishes to inform shareholders that it is preparing for the exploration program to be carried out at Las Herrerias (“Las Herrerias“), on the Puebla de la Reina property, located in Extremadura, Spain. Management will be onsite in early February to meet with its geological team to review and visit local geological areas of interest on the property identified by the work carried out in 2021/22 by the company.

While in the region, company management will be meeting with additional firms that carry out geophysical and diamond drilling activities, with the objective of determining timing and scope for the upcoming work at Las Herrerias. Further, management intends to again meet with the regional Ministry and politicians, including the Mayor of Puebla de la Reina, as they did in July, 2022, to ensure all local stakeholders needs are met.

“We are looking forward to returning to site, and working with our local team, as well as local drilling firms, to have additional resource work completed on site, and look at the additional areas of interest noted by our local geological team that had not previously been investigated by the two previous property owners. In addition, we are keen to ensure that all governmental and environmental objectives of Hispania are being met in conjunction with local stakeholders, including the Mayor of Puebla de la Reina, Ms Ana María Redondo, who we continue to consult and work with”, noted Norman Brewster, Chief Executive Officer.

The area at Puebla de la Reina is a pre-identified high grade copper and zinc area. We believe the new zones to the west may offer additional similar opportunities. With the increased price both of copper and zinc, as well as improved technology for metal extraction, the Company believes there may be value in these previously unexplored areas. Some of these new and additional areas, as well as continued areas of interest and findings to date are noted in the Exhibits below.

Junior Mining NetworkImage 1: Hispania Directors Norman Brewster, Rahim Allani and Eduardo Olarte with Mayor of Puebla de la Reina, Ms Ana María Redondo, July 2022.

Junior Mining NetworkImage 2: Map of Las Herrerias, PBR property, showing areas that are considered to be geologically interesting and were selected for initial groundworks consisting of geophysics (electromagnetics) which were contracted to the firm Genostica, of Huelva, Spain.

Junior Mining NetworkImage 3: This image depicts area lying to the west of Puebla de la Reina and shows the results of the geophysical program. The maroon symbols represent strong conductive anomalies which represent new areas of investigation, and will be further investigated initially with geophysics, ground trenching, and rock sampling where practical. Interesting results will be followed up with diamond drilling.

Junior Mining NetworkImage 4: This image represents the area around the village of Puebla de la Reina. The open area in the centre is the local of the existing historical resource on the property (500,000 tonnes at 11.5% Zn, 1.6% Cu, and 1.2% Pb and 32 gpt/Au Outukumpu 1999-2001). The symbols represent the electromagnetic responses with the maroon responses being strong anomalous conductors. Additional work is warranted which will consist of geophysics, ground trenching, and sampling where practical. Interesting results from this work will be followed by diamond drilling.

About Hispania Resources Inc.

Hispania Resources Inc is a mineral exploration company focused on mining opportunities in Spain. Hispania is currently focused on developing the long-term mining potential of its core asset, the Zinc, Copper, Lead enriched Puebla de la Reina (“PBR“) property in the low-risk and historic mining district of Extremadura in Southwest Spain. The PBR property covers an area of 90 km2. Hispania, through its subsidiary, La Joya, has entered into a purchase agreement with Auplata S.A. to acquire a 100% interest in the PBR property. The management of Hispania contains industry veterans who have more than 120 years of mineral exploration and production experience in multiple jurisdictions and have successfully managed multiple international mining companies. This includes in Spain, where some of the team was responsible for the founding and building of Iberian Resources, with the continued support of the local and regional governments, including the well-developed and sophisticated transportation and mining infrastructure.

For more information on Hispania Resources Inc., visit: http://HispaniaResources.com/.

Contact Information

For more information or interview requests, please contact:

Norman Brewster – Chief Executive Officer
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(416) 970-3223

Rahim Allani – Director
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(416) 457-0549

Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information can be identified by words such as: “intend”, “believe”, “estimate”, “expect”, “may”, “will” and similar references to future periods. Examples of forward-looking information include, among others, the expected commencement of work on the PBR project, the expected meetings with local drilling firms, as well as information relating to Hispania. Although Hispania believes that, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because Hispania can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risk that the future plans of Hispania may differ from those that currently are contemplated Additional risks include those disclosed in the Filing Statement, which are incorporate herein by reference and are available through SEDAR at www.sedar.com. The forward- looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.

This news release is not an offer of the securities for sale in the United States. The securities described in this news release have not been registered under the

U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended) absent registration or an exemption from registration. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state in which where such offer, solicitation or sale would be unlawful.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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