Pasinex Completes Horzum A.S. Share Transfer and Provides Operational Update at Pinargozu Mine

Executive Summary

• Pasinex Resources completed the share‑transfer process, attaining 100 % ownership of Horzum A.S. (Pinargözü Mine) in Turkey.
• Post‑completion, Pasinex began implementing new board governance and is moving forward with its 2026 operational plan for Pinargözü.
• Site work in December added a 10 × 20 m loading/sorting area, fencing, office upgrades, and stockpiles of zinc sulphide material grew to ~340 tonnes, indicating ongoing production readiness.

Key Details

• All required Board of Directors’ resolutions were executed; share certificates endorsed and delivered; Turkish Trade Registry filings completed.
• Pasinex Arama ve Madencilik AS now holds 100 % of Horzum A.S., giving Pasinex full control of the Pinargözü high‑grade zinc mine.
• The company will reconstitute Horzum’s Board of Directors and update governance, authority, and signature directives.
• Construction completed in December:
• 10 m × 20 m material loading and sorting area in front of the 541 adit.
• Concrete barriers and wire fencing around construction and parking zones.
• Renovations to on‑site office facilities.
• Production status:
• Previously mined material is being brought to surface after external stock area completion.
• Surface stockpiles of zinc sulphide material increased to approximately 340 tonnes as of late December.
• Logistics planning includes evaluation of nearby crushing and ore enrichment facilities.
• Health, safety & training: no reported incidents; periodic training continued throughout the month.
• Executive Chairman Dr. Larry Seeley highlighted that completing the share transfer before year‑end positions Pasinex to advance its 2026 plans at Pinargözü.

Notable Quotes

“Completing the Horzum share transfer before year end is an important milestone for Pasinex. With full ownership now secured, we are well positioned to advance our 2026 plans at Pinargözü, where ongoing site improvements, steady production, and growing mined stockpiles reflect the strength of the asset and the operational team on the ground.” – Dr. Larry Seeley, Executive Chairman

Qualified Person: Jonathan Challis, Fellow of the Institute of Materials, Minerals and Mining (NI 43‑101 Qualified Person).