Azarga Metals Announces Mineral Resource Estimate for the Marg Project, Central Yukon

Executive Summary

• Azarga Metals released an NI 43‑101 compliant 2025 Mineral Resource estimate for the high‑grade, copper‑rich VMS Marg Project in Central Yukon.
• The estimate reports 4.3 Mt Indicated and 10.0 Mt Inferred resources at a 0.5 % CuEq cut‑off, containing an average of 2.9 % CuEq (Indicated) and 2.3 % CuEq (Inferred).
• The company highlights significant upside potential: the deposit remains open to the east, west and down‑dip, and adjacent Jane Zone and a newly identified north‑side target from induced‑polarisation surveys could further expand the resource.

Key Details

• Indicated Resource: 4.3 Mt @ 1.3 % Cu, 1.7 % Pb, 3.2 % Zn, 42 g/t Ag, 0.66 g/t Au → 2.9 % CuEq.
• Inferred Resource: 10.0 Mt @ 1.0 % Cu, 1.3 % Pb, 2.6 % Zn, 33 g/t Ag, 0.54 g/t Au → 2.3 % CuEq.
• Cut‑off grade used: 0.5 % CuEq (based on copper equivalence formula incorporating Pb, Zn, Au, Ag).
• Metal price assumptions: Cu US$9,100/t; Pb US$1,900/t; Zn US$2,600/t; Au US$3,000/oz; Ag US$32/oz.
• Recovery & payable assumptions: Cu 80 %/96.5 %; Pb 50 %/75 %; Zn 80 %/85 %; Au 50 %/90 %; Ag 50 %/90 %.
• Exploration upside:
• Open‑pit and underground potential noted in historic PEA (2016).
• Deposit open to east, west, and down‑dip; additional VMS targets at Jane Zone.
• Induced‑polarisation survey identified a north‑side zone (Zone A) for future drilling.
• Future work plan:
• Resampling of unsampled drill core intervals (starting Sep 2025).
• Additional diamond drilling to extend the resource and test new targets.
• Further metallurgical testing and an engineering scoping study.
• Technical report: Prepared by IMC Mining Pty Ltd, qualified persons John Horton BSc (Hons) FAusIMM (CP) and Debbie James P.Geo; to be filed on SEDAR+ within 45 days of release (effective date 29 Aug 2025).
• CEO comment: Gordon Tainton emphasized the resource’s high‑grade nature, validation of the project, and the “district‑scale” potential pending further exploration.

Notable Quotes

“The results of the Marg Mineral Resource estimate are highly encouraging… we truly believe the Marg Project has the potential to become a district scale asset.” – Gordon Tainton, President & CEO

All forward‑looking statements are subject to risks and uncertainties as detailed in the release.