Hayasa Metals Announces Additional Drilling at Urasar Project

Rhea-AI Summary

Hayasa Metals (OTCQB: HAYAF / TSXV: HAY) has mobilized an Atlas Copco CS14 drill rig to the Urasar project and commenced drill hole UDD-021 on Oct 28, 2025, targeting a conductive zone identified by a July 2025 AMT survey. UDD-021 is planned to 500m, considerably deeper than prior holes; a second hole UDD-022 (~300m east) is proposed if results and weather permit.

The company expects to release assays from the summer program (about 1,000m remaining) in mid-November and says minimal additional roadwork was required to add metres funded by its recent capital raise.

Positive

• Drill rig mobilized and UDD-021 started on Oct 28, 2025
• Planned deeper test: UDD-021 to 500m
• UDD-022 pre-positioned ~300m east as contingent follow-up
• Approximately 1,000m of summer assays expected mid-November

Negative

• Previous hole UDD-01 lost at 146m, suggesting past drilling interruptions
• Drilling of deeper targets is conditional on weather and safety

Vancouver, British Columbia--(Newsfile Corp. - October 28, 2025) - Hayasa Metals Inc. (TSXV: HAY) (OTCQB: HAYAF) ("Hayasa" or the "Company") has begun drilling additional holes between the Oxide Basin and Copper Creek targets, located at the western end of the Urasar Mineral District. An Atlas Copco CS14 drill rig, operated by contractor AT Group, has been mobilized from Hayasa's Vardenis Project to the Urasar site and has commenced drilling hole UDD-021 as at Oct 28.

Fig. 1. Planned, late season drill hole UDD-021 and UDD-022 locations

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3169/272180_87e7b1e39465b91d_002full.jpg

CEO Joel Sutherland comments: "When I joined the Company, I felt the odds of making a discovery were favorable given the visual outcropping of mineralization at surface, and, in general, how underexplored Armenia is despite its central location within the Tethyan Belt. We remain convinced that there is a deposit at Urasar and look forward to reamining 1,000m of assays from the summer program expected to be released mid-November. Given that the primary use of proceeds from the recent capital raise is for drilling, we have decided to undertake additional meters this year given we had three drill pad locations already completed and minimal additional roadwork was required.

The location logic is addressed below, our goal is to drill at least one deeper hole to intersect with the conductive zone identified by the AMT survey undertaken this summer, conditional upon weather and safety conditions. If the drilling goes well and weather conditions remain good, we'll aim to do a second hole."

Fig. 2. 2025 Drill hole locations at Urasar

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3169/272180_87e7b1e39465b91d_003full.jpg

Background:

In July 2025, a trial audio-magnetotelluric (AMT) geophysical survey comprising three survey lines was completed at Urasar just as the summer drilling program was concluding. As seen in the resistivity model below, zones of low resistivity/high conductivity appear to correspond to areas of sulfide mineralization intersected in drill holes UDD-01, UDD-11, and UDD-14. The data also suggests that these holes may have been terminated prematurely—particularly hole UDD-01, which was lost at 146m just as it entered a zone of promising quartz—chalcopyrite mineralization.

Fig. 3. AMT line 3 & nearby drill holes                            Figure 4. AMT line 2 showing planned UDD-021

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3169/272180_hayasaimg34.jpg

To test this interpretation, drill hole UDD-021 is planned to target one of the most conductive zones identified by the AMT survey on Line 2, located between Oxide Basin and Copper Creek. The hole is planned to a depth of 500m, considerably deeper than previous drilling.

Depending on the results—and weather conditions—an additional hole (UDD-022) is proposed approximately 300m east of hole UDD-021, to test the same conductive anomaly as well as the surface alteration mapped along the main access road as seen in Fig. 1 above.

Urasar Mineral District

The 15-kilometre-long Urasar mineral district is situated along a major crustal suture that marks the closure of the ancient Tethyan Sea. The district is characterized by strong to intense argillic to advanced argillic alteration as well as surficial sulfide mineralization throughout its length. The western portion of the license features breccia-hosted copper-gold mineralization, while the central zone is dominated by massive sulfide bodies containing gold and copper. The eastern end of the district exhibits base metal mineralization and anomalous gold at surface. Urasar was first exploited by the French in 1914, followed by Soviet exploration programs in the 1930s and 1956-1960, comprising over 20 exploration adits and at least 15 shallow drill holes.

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.

On behalf of the Board of Directors,

Joel Sutherland
CEO
Hayasa Metals Inc.

For further information, contact:
joel@hayasametals.com
www.hayasametals.com
https://twitter.com/Hayasametals
(604) 676-5664

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements

This news release contains forward-looking statements. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements including, without limitation, statements regarding future exploration programs. Important factors that could cause actual results to differ materially from the Company's expectations including the risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by Canadian securities law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272180

FAQ

What is Hayasa Metals drilling at Urasar (HAYAF) on Oct 28, 2025?

Hayasa began drilling UDD-021 on Oct 28, 2025, targeting a conductive AMT anomaly between Oxide Basin and Copper Creek.

How deep is drill hole UDD-021 planned to be for HAYAF at Urasar?

UDD-021 is planned to a depth of 500m, deeper than previous holes.

When will Hayasa (HAYAF) release remaining Urasar assay results?

The company expects to release the remaining summer program assays (about 1,000m) in mid-November 2025.

Will Hayasa drill additional holes at Urasar (HAYAF) after UDD-021?

An additional hole, UDD-022, is proposed ~300m east to test the same conductive anomaly if results and weather permit.

What geophysical data guided HAYAF's new Urasar holes?

A July 2025 audio-magnetotelluric (AMT) survey identified low-resistivity/high-conductivity zones that correspond with sulfide intersections, guiding UDD-021.

What operational advantages enabled extra drilling at Urasar for HAYAF?

Three drill pads were already completed and minimal additional roadwork was required, allowing additional metres funded by the recent capital raise.