Hayasa Metals Announces Commencement of Drill Program at Urasar Project, Armenia

Executive Summary

• Hayasa Metals announces a 1,000-meter diamond drilling program at its Urasar Project in northern Armenia, consisting of two new holes (UDD-022 and UDD-023) targeting the Oxide Basin and Silica West prospects.
• The program is guided by a recently completed May 2026 audio-magnetotelluric (AMT) geophysical survey that identified near-vertical structures and low-resistivity zones coincident with anomalous surface geochemistry and hydrothermal alteration.
• Management highlights encouraging historical results from the prematurely terminated UDD-021 hole, which intersected significant near-surface copper and gold mineralization, validating the geological model for these upcoming deeper test holes.

Key Details

• Drilling Program Scope: 1,000-meter diamond drilling program comprising two holes: UDD-022 (Oxide Basin prospect) and UDD-023 (Silica West prospect) in the far western portion of the Urasar exploration permit.
• Contractor & Equipment: AT Group (Yerevan, Armenia) utilizing an Atlas Copco CS-14 drill rig; mobilization underway with first hole collaring scheduled for June 19, 2026.
• Geophysical Survey: May 2026 completion of a six-line, 53-station AMT survey following a June 2025 three-line orientation survey; identified low-resistivity (high conductivity) zones potentially corresponding to sulfide mineralization intersected in previous holes.
• Historical Drill Results (UDD-021, Nov 2025): Hole was abandoned at 235m due to difficult ground conditions and winter weather. Intersected: 39m grading 0.50% Cu and 0.18 g/t Au from 11-50m depth; and 52m grading 0.11% Cu from 163-215m depth.
• Target Characteristics: Near-vertical AMT anomalies on profiles 1 and 2 at the western end of the property, supported by coincident anomalous surface geochemistry and mapped hydrothermal alteration.
• Geological Setting: License area features intensely altered siliceous ridges characterized by iron oxide replacement of sulphides, alongside localized occurrences of unoxidized bornite mineralization.
• Technical Oversight: Content reviewed and approved by Dennis Moore, President and Chairman, a Qualified Person under National Instrument 43-101.

Notable Quotes

• Dennis Moore, President & QP: "This new AMT data from Urasar reinforces what was observed on the three lines completed last year. The 2026 data set shows several near-vertical structures in the westernmost profiles that occur beneath zones hosting anomalous gold and copper surface geochemistry as well as strong to intense alteration. Now it's time to drill test these targets."
• Joel Sutherland, CEO: "The 2025 late season hole with 39m of 0.5% Copper and 0.19 g/t gold near surface was encouraging even though we did not achieve getting to 400m depth. These planned holes are the first two deeper holes at Urasar and are supported by the recent geophysical AMT survey just completed."