Mr. Joel Sutherland reports

HAYASA METALS ANNOUNCES NSAMT GEOPHYSICAL RESULTS FOR URASAR COPPER-GOLD PROJECT, ARMENIA

Hayasa Metals Inc. has received the final natural source audio magnetotelluric (NSAMT) sections from a three-line 26-station trial NSMAT survey executed at the Urasar copper-gold project in July, 2025.

In the coming weeks, Hayasa expects to receive and release assay results from the 2025 2,040-metre drill program completed at Urasar in July, 2025.

NSAMT survey

The NSAMT survey was undertaken by Terratec Geophysical Services GmbH & Co. based in Heitersheim, Germany. The survey was executed as the 2025 drilling campaign was nearing completion in July, 2025. The survey comprised three lines over the western part of the licence (Yellow River zone), spaced approximately 1.1 kilometres apart and 500 m to 600 m on either side of the IP lines that were surveyed in June, 2024.

NSAMT is a passive electromagnetic imaging technique using the Earth's electromagnetic field to map geologic contacts and structures by induction. The technique uses thunderstorms and electric currents in the ionosphere, which are created by the interaction of the solar plasma with the geomagnetic field, as a source of signals. The resulting natural, time-varying primary magnetic fields produce electric currents in the Earth's subsurface, which generate secondary magnetic fields. These measurements can be used to calculate a resistivity model of the subsurface. Magnetotelluric surveys can generally look deeper than normal IP surveys, although they only measure resistivity and do not measure chargeability. The ability to identify geologic features varies with depth and depends upon target size, resistivity contrasts and contact geometry.

The three lines were situated in the western section of the licence, known as the Yellow River area, which hosts the Golden vein, Copper Creek and Oxide basin mineralized zones. The lines were situated north-south to create profiles perpendicular to the local east-west geological and structural trends.

The results show low resistivity anomalies (corresponding to conductive areas) at the south ends of the profiles, toward the river valley, although the anomalies do extend somewhat to the north, where alteration and mineralization crops out at surface, and where recent drilling has intersected sulphide mineralization. Of particular interest is the discrete resistivity low. When recent drill holes are projected (up to 200 m on either side of the line: a reasonably long distance) onto this profile, it suggests that one or more of these holes may have stopped short of a conductive, perhaps sulphide-rich zone.

Also of interest are the high resistivity zones coupled with discrete low resistivity anomalies at the north end of the lines, which correspond to the high chargeability anomalies seen in the 2024 IP profiles.

Hayasa management comments

Hayasa president and qualified person Dennis Moore states: "Our work to date indicates that the controls on mineralization at Urasar are structurally complex despite being situated within a well-defined east-west corridor. We are still working to determine the exact nature of the mineral system present at Urasar. In the Yellow River zone, located in the western part of the licence area, potassic alteration and suspected actinolite alteration are observed in the drill core -- features that may point to a porphyry-style system at depth. In contrast, the eastern portion of the licence, particularly at the Black River target, significant intervals of massive sulphide mineralization -- up to 40 metres thick -- were intersected in drill holes UDD-016 and UDD-017. Further analysis is continuing. Samples from Yellow River have been submitted for petrographic analysis, while geochemical results from the recent drilling campaign are expected to provide important insights into the mineralogical genesis.

Mr. Moore continues: "The 2024 IP survey, along with the recent magnetotelluric data, has revealed several large, untested geophysical anomalies -- especially to the north of our current area of focus. Evaluating these prospective targets will be a key objective of our 2026 exploration program, which is expected to include multiple deep drill holes aimed at testing these anomalies."

Hayasa chief executive officer Joel Sutherland states: "Figure 3 makes a good case for a deeper hole at Copper Creek in 2026, particularly if the assays confirm what we can see visually in the core. The select photos below from UDD-010, UDD-011 and UDD-012, are encouraging and when we get the assays back in a few weeks, we'll be able to complement the core data with the MT survey that will help us in planning the 2026 drilling campaign at Urasar."

About Hayasa Metals Inc.

Hayasa Metals is a copper and gold exploration company focused on advancing its highly prospective projects in Armenia. The company is committed to responsible exploration and sustainable development practices while creating long-term value for shareholders.

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.

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