Mr. Ian Atacan reports

PASINEX PROVIDES CORPORATE UPDATE: COMPLETION OF SARLKAYA ACQUISITION, AGM, NEW BOARD MEMBER AND FINANCING

Pasinex Resources Ltd. has had a number of important corporate developments, including the closing of the Sarlkaya zinc project acquisition, a change in the company's financial year-end, updates on board nominations and the upcoming annual general meeting (AGM), progress on the private placement financing, and the granting of stock options.

Completion of Sarlkaya acquisition

The company has closed its previously announced acquisition of the Sarlkaya zinc project in Turkey. Through its wholly owned subsidiary, Pasinex Arama ve Madencilik A.S., Pasinex has acquired all of the outstanding shares of Aydln Teknik. The share transfer, pledge agreement and share certificate agreement have now been completed, and Pasinex Arama is the sole shareholder of Aydln Teknik. The acquired shares are subject to a $2-million (U.S.) pledge in favour of the sellers. As disclosed in earlier announcements, Sarlkaya is located near the company's operating Pinargozu mine and contains 30-per-cent to 50-per-cent high-grade, carbonate-hosted zinc mineralization. The project has demonstrated near-surface zones of zinc mineralization that can be directly mined with minimal processing, while also showing strong potential for discovery of additional mineralization through systematic drilling. With the closing of this transaction, Pasinex now controls 100 per cent of both Pinargozu and Sarlkaya through Pasinex Arama, consolidating its Turkish operations and strengthening its growth pipeline.

Change to financial year-end

The company also announces a change in its financial year-end from Dec. 31 to March 31 to better align its reporting cycle with industry peers and to reduce pressure on calendar year-end reporting timelines. Pasinex will file a transitional report covering a 15-month period from Jan. 1, 2025, to March 31, 2026, with audited financial statements. The next financial year will cover the 12-month period from April 1, 2026, to March 31, 2027.

Board nomination and AGM

The board of directors intends to nominate Dr. Mehmet Komurcu for election to the board at the upcoming annual general meeting. Dr. Komurcu is a partner in Dentons's Toronto office and a member of Dentons's corporate group. He advises Canadian and international clients on cross-border M&A (merger and acquisition), corporate governance, reorganizations and general corporate matters, with a strong focus on mining and natural resources. Licensed in Ontario, Istanbul and New York, Dr. Komurcu previously served as general counsel to Turk Telekom during its privatization, international expansion and initial public offering (IPO), the largest in Turkey's history at the time. His experience spans technology, telecommunications, energy and higher education, with extensive relationships across Turkey, Europe and the Middle East. He holds a doctorate in public international law from the University of Wisconsin-Madison.

The AGM will be held on Nov. 21, 2025, at 11 a.m. Eastern Time, at 82 Richmond St. E, Toronto, Ont., M5C 1P1. The record date for determining shareholders entitled to vote at the AGM has been set as Oct. 17, 2025. Shareholders will be asked to elect directors, approve the appointment of the auditor and consider other customary business.

Private placement financing update

The company is also pleased to report strong investor support for its private placement financing announced earlier. Of the $2.15-million (Canadian) offering, subscriptions of more than $1.2-million (Canadian) have been received to date. The financing remains open and is expected to close in the coming weeks. Net proceeds will be used to advance development of the Sarlkaya project and for general corporate purposes.

Grant of stock options

Effective Sept. 26, 2025, Pasinex granted an aggregate of 2.5 million stock options to directors, officers and key employees of the company. The stock options vest immediately, are exercisable at 7.5 cents per share and expire five years from the date of grant. The options were granted pursuant to the company's stock option plan, aligning management incentives with shareholder value creation.

Management comment

Larry Seeley, executive chairman of Pasinex, stated: "These past few months have been transformative for Pasinex. With the completion of the Sarlkaya acquisition, we now control two zinc projects in Turkey with complementary profiles: Pinargozu, which continues to generate cash flow from direct-shipping high-grade zinc; and Sarlkaya, which offers both near-term production and significant exploration upside. The private placement is progressing well and we are grateful for the continued support of our investors. We are also delighted to nominate Dr. Mehmet Komurcu to our board. His extensive experience in Turkey and internationally will be an important asset as we build our future. Together, these developments position us for disciplined growth and a productive year ahead."

About Pasinex Resources Ltd.

Pasinex Resources is a growing, zinc-focused mining company based in Toronto, Canada. Through its wholly owned subsidiary, Pasinex Arama ve Madencilik A.S., the company owns 100 per cent of Horzum A.S. Horzum owns and operates the producing Pinargozu high-grade zinc mine in Turkey, 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 owns 100 per cent of Sarlkaya 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.