Mr. Ian Atacan reports

PASINEX ANNOUNCES CLOSING OF SHARES FOR DEBT SETTLEMENT

Pasinex Resources Ltd. has issued 28,766,306 common shares to certain of its creditors in exchange for outstanding debt in the aggregate amount of $2,157,473 owing to 1514341 Ontario Inc. (151 Ontario), Seeley Holdings Ltd., Joachim Rainer, other vendors and directors. The settlement shares are being issued at a price of 7.5 cents, in accordance with the policies of the Canadian Securities Exchange (the CSE).

The company is carrying out the shares for debt transaction to improve its financial position by reducing its existing liabilities. All settlement shares will be subject to a four-month hold period from the closing date of the shares for debt transaction under applicable Canadian securities laws in addition to any other restrictions that may apply in jurisdictions outside of Canada.

The issuance of settlement shares to 151 Ontario and Mr. Rainer pursuant to the shares for debt transaction constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101) as 151 Ontario is controlled by Larry Seeley, chairman of the company, and Mr. Rainer is a director of the company. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the settlement shares nor the debt exceeds 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101. The company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the debt settlement, which the company deems reasonable in the circumstances as the company wishes to improve its financial position by reducing its existing liabilities as soon as possible.

About Pasinex Resources Ltd.

Pasinex Resources is a growing, zinc-focused mining company based in Toronto. Through its wholly owned subsidiary Pasinex Arama ve Madencilik Anonim Sirketi, the company owns 50 per cent of Horzum Maden Arama ve Isletme Anonim Sirketi (Horzum AS). Horzum AS owns and operates the producing Pinargozu high-grade zinc mine in Turkiye, selling directly to zinc smelters and refiners via commodity brokers. Pasinex also holds a 51-per-cent interest in the Gunman project, a high-grade zinc exploration project located in Nevada. Additionally, Pasinex recently secured an option to acquire a 100-per-cent interest in the Sarikaya licence, a Group IV lead-zinc operating licence in Kayseri province, Turkey, representing significant potential for near-term profitability and major zinc discoveries. Led by a seasoned management team with extensive experience in mineral exploration and mine development, Pasinex's mission is to explore and extract high-grade ore, driving growth, and creating value for shareholders, employees and local communities, while maintaining the highest standards of safety, health and environmental responsibility.

We seek Safe Harbor.