ASX Announcement 27 November 2009 Multiple EM anomalies identified at Forrestania Project
Highlights: * Heli-borne geophysics (VTEM) has identified multiple, well defined and well located EM anomalies within the Forrestania Project -- refer Figures below * Majority of the EM anomalies are located within the newly acquired Stormbreaker ground position (refer ASX release of 25 November 2009) * Anomalies occur over an aggregate strike length of 14km * Southern-most anomaly is located 7km along strike of the Flying Fox nickel mine * Newly developed heli-borne geophysics (ZTEM) looking for deeper EM targets currently in progress * Ground-based geophysics scheduled to commence at the completion of the ZTEM survey to generate drill ready targets Western Australian minerals explorer Hannans Reward Ltd (ASX: HNR) ("Hannans" or "the Company") is pleased to announce that multiple, well defined, stratigraphically well located, EM anomalies have been identified using the heli-borne VTEM system at the Forrestania Project.

Hannans Managing Director Damian Hicks said, "The recently completed heli-borne survey (VTEM) within the Stormbreaker Prospect has been extremely successful, generating anomalies covering an aggregate strike length of 14km.

Hannans can now focus its future ground based exploration activities on these discrete anomalies." Importantly the majority of the EM anomalies are located within the newly acquired ground position, which has not previously been exposed to any modern nickel exploration.

The previous owners were solely focused on gold exploration. Mr.

Hicks also added, "A number of the EM anomalies are located within the interpreted northern extension of the western ultramafic unit which is host to high grade nickel-sulphide mineralisation at Flying Fox and Spotted Quoll (owned by Western Areas NL).

The majority of these new EM anomalies remain untested by previous drilling. We also have a newly developed airborne geophysical technique (ZTEM) being trialled over the Stormbreaker Prospect to determine if any additional deeper EM anomalies can be identified. Once the current helicopter surveys are finished well immediately start ground based geophysical surveys (FLTEM) to further refine the EM anomalies.

This will also assist with 3D modelling of the anomalies in preparation for drill testing.

With such a large number of EM anomalies, it is anticipated that this ground surveying will continue through December and into January 2010." A reconnaissance RAB drilling programme is also scheduled to commence early in 2010 to increase the understanding of the geology at the prospect scale. On completion of the RAB drilling the EM anomalies will be tested with deep drilling (Reverse Circulation or Diamond) and subsequently surveyed with down-hole geophysics. With the recent substantial additions to the Forrestania tenement package the Forrestania Project now represents a substantial exploration package which covers a strike length of over 100km." Click here to access the full ASX announcement http://esp.gewru.com/download/files/12414/1010241/multiple%20EM%20anomalies%20identified%20at%20Forrestania.pdf For further information please contact:
Shareholder Contact: Damian Hicks Managing Director Telephone: (08) 9324 3388 Fax: (08) 9324 3366 Email: Media Contact: Karen Oswald Professional Public Relations Telephone: 08 9388 0944 Email: Hannans Reward Limited Summary Hannans Reward Ltd has developed a suite of prospective exploration projects within Australia covering nickel, gold and manganese.

Hannans has joint ventures with Vale (www.vale.com), Kagara Ltd (www.kagara.com.au), St Barbara Ltd (www.stbarbara.com.au) and Triton Gold Ltd (www.tritongold.com.au).

Hannans is the second largest shareholder in Warwick Resources Ltd (www.warwickresources.com.au) and holds equity in Atlas Iron Ltd (www.atlasiron.com.au).

Hannans shareholders are exposed to share price appreciation through exploration success at the following projects: Forrestania -- nickel & gold project 7km north of Western Areas Flying Fox nickel mine Lake Johnston -- nickel & gold project located 25km south east of Norilsks Maggie Hays nickel mine Jigalong -- manganese & base metals project located 150km east of Newman, WA Queen Victoria Rocks - joint venture with Companhia Vale do Rio Doce (Vale),30km south-west of Coolgardie, WA Sunday -- gold joint venture with Triton Gold Ltd, 10kms east of Leonora, WA
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