Update in Filing of Financial Reports and Management Cease Trade Order - Aug 2020

August 13, 2020 (Vancouver, British Columbia) – Handa Mining Corporation ("Handa Mining" or the "Company") (TSX-V: HAND) provides update on the status of the management cease trade order granted on July 17, 2020 (the “MCTO”) by the British Columbia Securities Commission, the filing of its annual financial statements and accompanying management’s discussion and analysis for the financial year ended January 31, 2020 (the “Annual Filings”), and the filing of its financial statements and accompanying management’s discussion and analysis for the three months ended April 30, 2020 (the “Q1 Filings”), which were required to be filed by the scheduled due date of June 1, 2020, and June 29, 2020, as required by National Instrument 51-102.

The MCTO was issued in connection with the delay by the Company in filing its Annual Filings due to the continued impact of COVID-19 pandemic. The MCTO extended the filing deadline for the Annual Filings to August 15, 2020.

It is likely that the Company will miss the filing deadline of August 15, 2020 to file the Annual Filings and Q1 Filings. In connection with the Company’s inability to file the Annual Filings and Q1 Filings on the due date, the Company has applied for an extension of the MCTO and is waiting for the British Columbia Securities Commission approval.

As disclosed in the announcements on May 28, June 26, July 16, and July 30, 2020, the Company continues to work diligently and expeditiously with its auditors to file the Annual Filings and the Q1 Filings. Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Order for issuers who have failed to comply with a specified continuous disclosure requirement within the times prescribed by applicable securities laws. The guidelines, among other things, require the Company to issue bi-weekly default status reports by way of a news release so long as the Annual Filings have not been filed.

During the MCTO, the general investing public will continue to be able to trade in the Company's common shares listed on the TSX Venture Exchange. However, the Company's Chief Executive Officer and Chief Financial Officer will not be able to trade in the Company's shares, nor will the Company be able to, directly or indirectly, issue securities to or acquire securities from an insider or employee of the Company except in accordance with legally binding obligations to do so existing as of July 14, 2020.

Management and other insiders of the Company are subject to a trading blackout policy that reflects the principles in section 9 of National Policy 11-207 until its Annual Filings and Q1 Filings have been filed. Other than as previously disclosed by the Company, there have been no material business developments since the date of the Company’s most recent filing of its interim financial statements and management’s discussion and analysis.

About Handa Mining Corporation

Handa Mining Corporation (TSX-V: HAND) is a mining and development company that is developing the Mejillones Phosphate Project in Chile in order to bring the Project into production and generate cash flow. As part of its revitalized strategy, the Company is also pursuing Joint Venture opportunities in order to gain further exposure to surface mining opportunities which are very close to or in production.

For further information, contact:

Jan Nelson
Chief Executive Officer
Handa Mining Corporation
Tel: (604) 428-7050
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Reader Advisory

This news release includes certain statements that may be considered "forward-looking statements". These statements include, but are not limited to, statements with respect to the use of proceeds of the Financing, the construction of the Plant by Handa, the profitability of the Plant and the Company's vision. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: Handa will obtain all required environmental and other permits and all land use and other licenses, studies and exploration of the project will be positive and no geological or technical problems will occur. The Company cannot guarantee that the construction of the Plant will complete or that such project would be profitable. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, potential environmental issues or liabilities associated with exploration, development and mining activities, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and tenure and delays due to third party opposition, changes in and the effect of government policies regarding mining and natural resource exploration and exploitation, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. The Company undertakes no obligation to update forward looking information or statements, other than as required by law.

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