Huakan International Mining Inc. Redeems $4,470,000 Convertible Debentures and Provides Update on its J&L Project

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Feb. 6, 2012) - Huakan International Mining Inc. (TSX VENTURE: HK) (the "Company") reports that it has redeemed six (6) year secured convertible debentures maturing on July 21, 2014, in the principal amount of $4,470,000 plus accrued interest of $240,598.36. The early retirement of the debentures eliminates the Company's long term debt.

Additionally, the Company is continuing to focus on advancing its J&L precious and polymetallic project (gold-silver-lead-zinc), located near Revelstoke, British Columbia. A winter underground development program is on-going in advance of an underground diamond drill program planned for early second quarter of 2012. The Company is also conducting a metallurgical testwork program to verify and augment historical metallurgical grades/recoveries and to solidify a proposed flowsheet for the Main Zone deposit.


CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION

Certain of the statements made and information contained herein may contain forward-looking statements or forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or forward-looking information include, but are not limited to statements concerning exploration plans for the Company's J&L project. Forward-looking statements or information include statements regarding the expectations and beliefs of management. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.

Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: completion of announced transactions, history of losses; requirements for additional capital; dilution; loss of its material properties; interest rates increase; global economy; limited history of production; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment; labour disputes; supply problems; commodity price fluctuations; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; legal and regulatory proceedings and community actions; title matters; regulatory restrictions; permitting and licensing; volatility of the market price of common shares; insurance; competition; hedging activities; currency fluctuations; and loss of key employees. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law, and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the securities regulatory authorities in Canada.

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Contact Information

Huakan International Mining Inc.
Jeffrey Ren
Chief Financial Officer
(604) 694-2344
http://www.huakanmining.com