Hayasa Metals begins phase 2 drilling at Vardenis

Mr. Joel Sutherland reports HAYASA METALS BEGINS 2025 DRILLING CAMPAIGN AT VARDENIS COPPER-GOLD PROJECT Hayasa Metals Inc. has begun its phase 2 drill program at the Vardenis copper-gold project in central Armenia which is under option to Teck Resources Ltd. (see news release dated Aug. 27, 2025). The planned diamond drill program is targeting a minimum 3,500 metres and is expected to be completed within eight weeks. Hayasa has contracted AT Group, a drilling company based in Yerevan, Armenia which has worked with the company in the past. The program will utilize two Atlas Copco CS14 drill rigs, which are capable of drilling to 1,200 metres depth. Two rigs are at site and mobilized. 2025 drill program overview The 2025 program will target a minimum of 3,500 metres across 10 to 12 holes, with the following priorities: Soviet target -- hosts the foremost molybdenum soil anomaly; displays extensive advanced argillic alteration (alunite, silica, topaz) at surface, IP chargeability at depth: Minimum of five holes programmed to 400 to 500 m depth; Most of the holes are situated on the interpreted margins of a lithocap and targeted inward; SW-NE (southwest-northeast) azimuths to intercept northwest-trending mineralized structures/faults. Razmik target -- hosts the primary copper-in-soil anomaly; hosts B and D veins at surface: Minimum of two holes; Testing IP chargeability anomaly, coincident conductivity anomalies; Coherent Cu (copper) and Mo (molybdenum) soil anomalies; Highest Mo geochemistry in rock chip samples. Artsiv target Minimum of one hole; High sulphidation epithermal characteristics; Significant vuggy silica and advanced argillic alteration at surface; Main focus of interest for Dundee Precious Metals (Toronto Stock Exchange: DPM), which drilled seven shallow holes west of the current target. Images in the original version of this news release show the Vardenis license area and planned 2025 drill hole locations, including primary and secondary targets. Early drill results will determine which targets are prioritized for subsequent drilling. Historic work by Dundee Precious Metals Identification of seven mineralized-at-surface prospects; Extensive soil sample grid comprising 4,044 multielement samples; Trenching and rock chip sampling totalling 2,187 multielement rock samples; Seven shallow drill holes in the Artsiv prospect, totalling 1,245 m; Over 2,000 SWIR (shortwave infrared) scans from various outcrops and surface samples. Work carried out by Hayasa Metals 2023 to 2025 23-line-kilometre high-resolution IP survey; 92 station magnetotelluric survey (recently completed); Phase 1 drilling comprising two diamond drill holes totalling 770 m in the Razmik prospect; Spectral analysis of an additional 722 surface rock and clay samples Detailed mapping of Razmik and Soviet areas by specialist consultants, including Simon Meldrum. Hayasa management comments Hayasa president and chairman Dennis Moore comments: "We're commencing a significant drill campaign in what is essentially near-virgin, highly prospective terrain. The discovery of a significant porphyry copper-moly deposit would be a game-changer for our team and investors. We are confident that the 2025 drill program has genuine potential for success. The porphyry-style veining and mineralogy identified in previous Hayasa drill holes, combined with encouraging results from recent IP and MT geophysical surveys, gives us a high level of confidence moving forward. As an exploration geologist, this is the kind of opportunity we live for. The potential reward is immense and I like our chances." Hayasa chief executive officer Joel Sutherland states: "Partnering with Teck on Vardenis is good for mining, and great for Armenia and its mining community. The introduction of Teck, a world-class operator, to Armenia is happening at the same period in time when country risk is lowering due to the recent U.S.-brokered peace deal signed by Armenian Prime Minister Nikol Pashinyan and Azerbaijani President Ilham Aliyev in Washington, D.C. We believe Vardenis has the potential to host a Tier 1 copper-moly-gold porphyry deposit and we look forward to adding additional properties to the Hayasa portfolio over 2026." About Vardenis The Vardenis exploration project is located within the Central Tethyan belt of east-central Armenia, covering 9,399 hectares and accessible by road. In 2023, Hayasa entered into an option agreement with Mendia Resources and its majority shareholder to acquire up to a 100-per-cent interest, now superseded by the option granted to Teck (see news release dated Aug. 27, 2025). Situated just 25 kilometres from the 4.8-million-ounce Amulsar gold deposit, Vardenis lies within the same prospective belt of Tertiary volcanic rocks. A former Dundee Precious Metals project, previous exploration defined an area of advanced argillic and QSP (quartz-sericite-pyrite) alteration 35 square kilometres in extent, which hosts seven mineralized zones arranged in a concentric arc. In late 2023, the company completed 770 metres of diamond drilling in the Razmik copper-molybdenum zone which encountered long sulphide-rich intervals displaying strong alteration, brecciation and quartz veining indicative of porphyry-style mineralization. Qualified person The content of this news release was reviewed by Dennis Moore, Hayasa's president and chairman, a qualified person as defined by National Instrument 43-101. We seek Safe Harbor.