Mr. Ian Atacan reports

PASINEX CLOSES OVER-SUBSCRIBED NON-BROKERED PRIVATE PLACEMENT

Pasinex Resources Ltd. has closed its non-brokered private placement of common shares for gross proceeds of $2,331,540, previously announced on July 15, 2025.

Offering details

Securities issued:  31,087,200 common shares at 7.5 cents per share

Share capital:  Following the closing of the offering, the company has 204,813,876 common shares issued and outstanding.

Finders' fees:  The company paid cash finders' fees of $15,750 and issued 406,000 shares, all subject to applicable securities laws.

Insider participation:  Insiders subscribed for an aggregate of two million common shares for gross proceeds of $150,000. The insider participation constitutes a related party transaction under MI 61-101. The company is relying on the exemptions from the formal valuation and minority approval requirements in sections 5.5(a) and 5.7(1)(a) of MI 61-101.

Hold period:  All securities issued under the offering are subject to a statutory hold period of four months from the date of issuance, in accordance with applicable Canadian securities laws.

Use of proceeds

Net proceeds will be used to advance the Sarikaya project including instalment payments to the previous owner, underground development, drilling, mine equipment and permitting costs, and for general working capital. The company also plans advanced exploration activities within the Sarikaya licence area.

Management commentary

"Thank you to our shareholders in Canada, Germany and Austria for the strong support," said Dr. Larry Seeley, executive chairman of Pasinex. "Since the start of the year we have strengthened our board and management and kept a clear focus on simplifying our business in Turkey and delivering tangible results. In July my family and I, together with other insiders, converted about $2-million of shareholder loans into common shares at 7.5 cents, a premium to market, because we believe in Pasinex and its projects. With agreements that crystallize 100-per-cent ownership of Horzum and favourable payment terms at Sarlkaya, we have both control and flexibility. Pinargozu continues to deliver high-grade ore with a simple, proven operating model and disciplined capital use. The success of this oversubscribed financing strengthens our balance sheet and confirms the confidence of new and long-time investors. We are positioned to advance development, grow production and build long-term value."

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 AS, the company owns 100 per cent of Horzum AS. Horzum AS 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.