Hayasa Metals Announces Completion of 2026 Urasar Drill Program, and Warrant Extension Application

Hayasa Metals Inc. is pleased to announce it has completed the scheduled 1,000-meter diamond drilling program at the Urasar Project in northern Armenia. The program comprised two drill holes, UDD-022 and UDD-023, targeting the Oxide Basin and Silica West prospects respectively, in the far western portion of the Urasar exploration permit. The final 1,070-meter drilling program was carried out by the AT Group, a drilling contractor based in Yerevan, Armenia employing an Atlas Copco CS-14 machine.

In May 2026, Hayasa completed a six-line, 53-station audio-magnetotelluric (AMT) geophysical survey at Urasar, following a successful three-line orientation survey conducted in June 2025. Interpretation of the resistivity data identified several zones of low resistivity (high conductivity) that can correspond to sulfide mineralization intersected in previous drill holes UDD-001, UDD-011, and UDD-014. Previous drill hole UDD-021 completed in late 2025, was terminated prematurely prior to reaching the targeted depth, but nevertheless intersected some of the strongest mineralization encountered at Urasar to date, including 39 meters grading 0.50% Cu and 0.18 g/t Au from 11 to 50m, and 52 meters grading 0.11% Cu from 163 to 215 meters depth.

Drill holes UDD-022 and UDD-023 were designed to test near-vertical AMT anomalies identified on profiles 1 and 2 at the western end of the property, and in the vicinity of UDD-021. These targets are also supported by anomalous surface geochemistry and strong to intense hydrothermal alteration. This portion of the license area hosts large, resistant siliceous ridges characterized by iron oxide replacement of sulphides, together with localized occurrences of unoxidized bornite mineralization.

The 2026 drilling intersected an intense, multiphase quartz-anhydrite vein/veinlet stockwork hosted by strongly hydrothermally altered rocks. The vein system locally contains pyrite and chalcopyrite, with occasional enargite. Increasingly potassic-style alteration observed at depth, together with the stockwork character and Cu-bearing sulfide assemblage, is interpreted as evidence for a potentially well-developed porphyry-style hydrothermal system.

Hayasa President and QP Dennis Moore states: "Visually the core from these two holes is slightly different from previous holes with long sections of intense silicification, as well as the ubiquitous brecciation abundant pyrite mineralization and subordinate chalcopyrite mineralization seen in all previous drill holes. We are expecting results similar or better to the results from the end of last year. It's well to remember that 23 drill holes is not a lot of drilling for a mineralized corridor that is 15 kms long."

Hayasa CEO, Joel Sutherland, adds: "The company continues to learn more about Urasar with every meter drilled. These last two holes are the first two holes drilled to depth, and the veining in the core is potentially indicative of something much bigger. The assays, results expected from ALS mid-October, will provide structural and geochemical data to add to our Urasar..."