Mr. Ian Atacan reports

PASINEX ANNOUNCES NON-BROKERED PRIVATE PLACEMENT AND PROVIDES OPERATIONS AND CORPORATE UPDATE

Pasinex Resources Ltd. has arranged a non-brokered private placement financing of units at a price of 10 cents per unit, targeting aggregate gross proceeds of approximately $1.5-million.

To date, the company has already received investor commitments totalling approximately $1.1-million toward the $1.5-million target.

The net proceeds of the offering will be used to advance exploration and development activities at the Sarikaya project, to support development of mining operations at the Pinargozu mine, and for general working capital purposes.

The offering will be on the basis of approximately 15 million units, being offered to accredited investors within the meaning of applicable securities laws, subject to a minimum subscription amount of $15,000 at a price of 10 cents per unit, for aggregate proceeds of approximately $1.5-million.

Each unit consists of: (i) one common share in the capital of the company; and (ii) one-half of one common share purchase warrant, represented by a warrant certificate. Each warrant shall be exercisable into one-half common share in the capital of the company at an exercise price of 15 cents per warrant share for a period of 24 months following the closing date in accordance with the terms of the warrant certificate.

The offering is expected to close on or about March 31, 2026, subject to customary closing conditions and receipt of all required regulatory approvals. Shares issued under the offering will be subject to a statutory hold period of four months and one day from the date of issuance. Finders' fees of up to 7 per cent of the gross proceeds may be paid in cash or securities to certain finders in accordance with the rules and policies of the Canadian Securities Exchange.

This offering follows the conversion by the principal Pasinex debtholders of $3,340,520 of their debt under the same terms as this offering at 10 cents per share.

Operations update

Site infrastructure upgrades at Pinargozu are continuing, including ground support improvements, safety related works and the near completion of renovations to the on-site office facilities. Pasinex reports that there were no lost-time accidents or reportable incidents at its Pinargozu or Sarikaya operations during the reporting period. Safety training and toolbox meetings continued throughout January and February, reinforcing the company's commitment to safe operations and regulatory compliance.

Pinargozu mine -- Horzum A.S.

Mining, preparation and production activities continued at the Pinargozu high-grade zinc mine. In February, the company sold approximately 500 tonnes of high-grade zinc sulphide material, with a grade of over 50 per cent, and containing 113 (grams per 1,000 kilograms (kg)) silver and 272 parts per million (ppm) germanium.

Sarikaya project -- Aydin Teknik A.S.

At the Sarikaya project, preparatory work continues ahead of planned mining activities. Recruitment efforts are under way for engineering and operational personnel, and the company remains current with all license and rehabilitation fee obligations related to the Sarikaya operating licence.

Corporate and subsidiary governance update

The company also announces the following board and management appointments at its Turkish subsidiaries and operating companies.

Pasinex Arama ve Madencilik A.S. -- effective Dec. 31, 2025:

• Chairman of the board: Jonathan Challis;
• Vice-chairman of the board: Ibrahim Hakkl Bozat;
• General manager: Aydin Sen (not a board member);
• Accounting and finance manager: Ozlem Altunal (not a board member).

Horzum Maden Arama ve Isletme A.S. -- effective Dec. 30, 2025:

• Chairman of the board: Ibrahim Hakkl Bozat;
• Vice-chairman and general manager: Aydin Sen;
• Board member and accounting and finance manager: Ozlem Altunal.

Aydin Teknik Madencilik A.S. -- effective Dec. 16, 2025:

• Chairman of the board: Ibrahim Hakkl Bozat;
• Vice-chairman and general manager: Aydin Sen;
• Board member and accounting and finance manager: Ozlem Altunal.

These appointments align operational management, financial oversight and board-level governance across Pasinex's Turkish operations as the company advances production and development activities.

Qualified person

Jonathan Challis, a fellow of the Institute of Materials, Minerals and Mining, and a chartered engineer, is the qualified person (QP) as defined by National Instrument 43-101 for all information in this news release, excluding information relating to the Gunman project. Mr. Challis reviewed this news release and approved the scientific and technical information provided herein. Mr. Challis is a director of the company and chair of Pasinex Arama.

Cautionary note

The company has not completed a current technical report that includes a mineral resource estimate as defined by the mineral resources and reserves, definitions and guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council, and procedures for classifying the reported mineral resources were undertaken within the context of the Canadian Securities Administrators National Instrument 43-101. The company has no intention of completing a NI 43-101-compliant technical report. Pasinex has not followed accepted quality assurance and quality control procedures with respect to its current drilling program and has not used an independent third party laboratory for its assay analysis. Pasinex uses Niton XLT3 model hand-held X-ray fluorescence analyzers (XRF) for zinc grade control and internal decision-making. Calibrations of the XRF analyzers are carried out annually at the registered Niton locations. Independent laboratory assays are conducted for all sales.

About Pasinex Resources Ltd.

Pasinex is a growing, zinc-focused mining company based in Toronto, Canada. Its wholly owned subsidiary, Horzum A.S., owns and operates the producing Pinargozu high-grade zinc mine in Turkey, selling directly to zinc smelters and refiners via commodity brokers.

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.

Pasinex also holds a 51-per-cent interest in the Gunman project, a high-grade zinc exploration project located in Nevada.

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 material, 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.