Mr. Gordon Tainton reports

AZARGA METALS 2026 MARG PROJECT DRILL PROGRAM; KENO HILL DISTRICT, YUKON

Azarga Metals Corp. has engaged Platinum Diamond Drilling Inc. to complete a diamond drilling program at the company's high-grade, copper-rich volcanogenic massive sulphide (VMS) Marg project located in the prolific Keno Hill mining district of central Yukon Territory, Canada.

The program is anticipated to commence in August, 2026, and is designed to test multiple high-priority exploration targets identified through previous drilling, geological mapping, geophysical surveys and geochemical sampling. Diamond drilling is expected to focus on expanding known mineralized zones while evaluating new targets with the potential to host significant copper, zinc, gold, silver and lead polymetallic mineralization.

• The initial phase of the planned program consists of over 3,000 metres of drilling across eight priority holes. Drilling will target extensions of previous mineralized intercepts, as well as several undrilled structural and geochemical anomalies identified during recent field programs.
• There is potential to extend the current areas defined by drilling that remain open toward the east, west and down dip.
• Within the Marg deposit there is one interpreted anticlinal fold hinge, but potential remains for further fold-related duplications at depth within the sequence.

Gordon Tainton, president and chief executive officer, commented: "The Marg VMS deposit demonstrates exceptional exploration potential, and we are excited to begin this season's drill campaign, the first conducted by the company. Our technical team has developed a focused drill program targeting extensions of the mineralized system from Azarga's maiden NI 43-101 resource estimate in August, 2025, which estimated 4.3 Mt of indicated resource grading 2.9 per cent CuEq and 10.0 Mt of inferred resource grading 2.3 per cent CuEq.

"We expect drilling to commence in August and continue through early fall of this exploration season, with assay results anticipated on a rolling basis as they become available from the laboratory."

Introduction

The Marg property is a VMS deposit located in the central Yukon, approximately 40 kilometres east of Keno City. Azarga acquired a 100-per-cent interest in the 400 mineral claims and approximately 8,400 hectares comprising the property in July, 2025.

The project benefits from excellent infrastructure, including an air strip, functional base camp, nearby power corridors and proximity to established mining operations within the Keno Hill district of Yukon.

The deposit was first identified by the Geological Survey of Canada in 1965, with extensive exploration, including 119 diamond drill holes, conducted by a number of companies between 1965 and 2008. This historical work meets industry standards and is considered to be of good quality.

Highlights of the Marg project mineral resource, at a 0.5 per cent copper equivalent (CuEq) cut-off, are as shown in the attached table (see news release Sept. 24, 2025).

Deposit geology

The Marg deposit is located on the northern part of the Marg property, where it is hosted within a 12 km long belt of Devono-Mississippian felsic metavolcanic and metasedimentary rocks belonging to the Earn Group.

The host rocks to the deposit have been deformed in several phases of folding, with the result that the original massive sulphide layers commonly lie in a series of subparallel lenses. The sulphide layers, which reach up to 23 metres in thickness where folded in the hinge of the Marg anticline, have been defined by drilling over a strike length of 1.4 km and a down-dip distance of 700 m.

The Marg property also hosts other mineralized showings, such as the Jane zone and Leyla showings. The showings, along with other showings and positive responses from geophysical surveys across the property, are suggestive of considerable VMS (volcanogenic massive sulphide) prospectivity on the Marg property. .

Drill hole planning

The initial phase of the planned program consists of over 3,000 metres of drilling across eight priority holes. Drilling will target extensions of previously intersected mineralization as well as several undrilled structural and geochemical anomalies identified during recent field programs.

Qualified person

Charles J. Greig, Msc, PGeo, a qualified person as defined by National Instrument 43-101, has reviewed and approved the exploration information disclosures contained in this news release.

About Azarga Metals Corp.

Azarga Metals is a mineral exploration and development company that owns 100 per cent of the high-grade copper rich Marg VMS deposit located in central Yukon, Canada. On Sept. 23, 2025, the company filed a National Instrument 43-101 -- Standard of Disclosures for Mineral Projects independent technical report for a mineral resource estimate on the Marg project titled "NI 43-101 Technical Report for the Marg Property, Yukon Territory" dated Aug. 29, 2025, with an effective date of Aug. 29, 2025. The Marg report was prepared by independent consultants at IMC Mining Pty. Ltd. and TruePoint Exploration. The Marg report estimated a total of 4.3 Mt (million tonnes) of indicated resources grading 2.9 per cent CuEq and 10.0 Mt of inferred resources grading 2.3 per cent CuEq at a 0.5 per cent copper equivalent (CuEq) cut-off.

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