This kid does a great job and has the good tips with the painters tape, corded drill with hole saw, etc(he is installing a 120mm fan): https://www.youtube.com/watch?v=-ofuudUEQds
You will need a 5-mm or 3/16 inch drill, depending on your preferred standard.
Hole in the fan frame is smaller so the threads can grab it. Typical screw shown below:
Just use a drill bit slightly smaller than the screws you have. Something like 3/16ths will be common however it can vary depending on the fan cover you choose.