MD&A.Oct.31.09.Audit.10.31.10

HANA MINING LTD. Management’s Discussion and Analysis for the years ended October 31, 2009 and 2008 This Management Discussion and Analysis of the financial results of Hana Mining Ltd.’s (“Hana” or the “Company”) operations for the fourth quarter and year ended October 31, 2009 should be read in conjunction with the audited consolidated financial statements and related notes that follow. This discussion covers the most recently completed year and the subsequent period to February 25, 2010. The audited consolidated financial statements and related notes have been prepared in accordance with Canadian generally accepted accounting principles (“GAAP”). These documents, along with others published by the Company, are available on SEDAR at www.sedar.com. All dollar amounts are stated in Canadian dollars unless otherwise noted. Company Overview The Company has been exclusively engaged in mineral exploration activity in Botswana since mid-2007, specifically targeting discovery of precious and base metals. The common shares of the Company are listed on both the Toronto Venture Exchange (TSX-V: “HMG”) and the Frankfurt Exchange (“4LH”). The Company was formerly called Golden Patriot Mining Inc., but received TSX approval and began trading under the name Hana Mining Ltd., on March 1, 2007. The Company controls 5 prospecting license blocks in Botswana, covering 2,169 square kilometres in area, situated east of the town of Maun. The Company’s single ...