Vancouver, British Columbia--(Newsfile Corp. - September 4, 2026) - Hayasa Metals Inc. (TSXV: HAY) (OTCQB: HAYAF) ("Hayasa" or the "Company") Hayasa 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 (Figure 1), 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.

Figure 1. Historical Drill Hole Locations with UDD-022 and UDD-023 Highlighted

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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 (see Hayasa news release dated June 11, 2026). 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.

Figure 2 below illustrates the completed drill holes superimposed on the corresponding AMT resistivity cross section profiles.

Figure 2. Hole UDD-022 at Oxide Basin and UDD-023 at Silica West

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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.

Figure 3. Select UDD-022 Core Photos at Depth

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Hayasa Management comments

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 mineralization model.

We continue to believe there is economic mineralization at Urasar that can be unlocked, and the assays of these deeper holes will contribute materially to how we unlock that value. As the Urasar license extension is renewed over the coming months, Hayasa management will focus on our new potential projects at Amasia, Mount Stephanie, Hovo's Reward, and Vardenis."

Proposed September 2025 Warrant Extension

Hayasa announces that it intends to file an application to the TSX Venture Exchange to extend the expiry dates of an aggregate of 11,165,282 outstanding one-half of one common share purchase warrants (the "Warrants"). The Company proposes to extend the expiry date of the Warrants from March 23, 2027 to March 23, 2028.

The Warrants were issued pursuant to a non-brokered private placement that closed on September 23, 2025 and were originally exercisable for 18 months from the closing date. Each whole Warrant entitles the holder to purchase one common share in the capital of the Company at a price of $0.22 per share. All other terms of the Warrants will remain the same.

The extension of the Warrants remains subject to approval of the TSX Venture Exchange.

Qualified Person

The content of this news release was reviewed and approved by Dennis Moore, Hayasa's President and Chairman, a qualified person as defined by National Instrument 43-101.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements

This news release contains forward-looking statements. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements including, without limitation, statements regarding future exploration programs. Important factors that could cause actual results to differ materially from the Company's expectations including the risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by Canadian securities law.

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