Hayasa Metals Announces Initial Drill Results from Phase 2 Drill Program at Urasar Project

Rhea-AI Summary

Hayasa Metals (OTCQB: HAYAF / TSXV: HAY) reported first assay results from its Phase 2 2025 drill campaign at the Urasar Mineral District (11 holes, 2,040 m). Results cover holes UDD-010, 011, 012, 013, 014 and 016; remaining core assays are expected within five weeks.

Key highlights: 26.5m @ 0.37% Cu including 5.5m @ 0.96% Cu and 0.116 g/t Au (UDD-013); 24m @ 0.424 g/t Au with 0.18% Cu (UDD-016). Tens of metres of massive sulfide reported in Black River (UDD-016/017). Company flagged possible sample prep issues for selected intervals and will re-process rejects at a second lab as part of QA/QC.

Positive

• 26.5m @ 0.37% Cu including 5.5m @ 0.96% Cu and 0.116 g/t Au (UDD-013)
• 24m @ 0.424 g/t Au with 0.18% Cu (UDD-016)
• Tens of metres of massive sulfide intersected in Black River (UDD-016/017)
• Phase 2 drilled 11 holes totaling 2,040 metres in June–July 2025

Negative

• Copper assays in holes 011–013 appear lower than visual chalcopyrite estimates
• Company identified potential sample preparation issue and must re-process rejects for verification

Vancouver, British Columbia--(Newsfile Corp. - October 14, 2025) - Hayasa Metals Inc. (TSXV: HAY) (OTCQB: HAYAF) ("Hayasa" or the "Company") is pleased to announce that it has received the first batch of geochemical results for drill holes UDD-010, 011, 012, 013, 014 and 016, from the Copper Creek, Golden Vein and Black River prospects at the Urasar Mineral District in northern Armenia.

The Phase 2 drill campaign comprised eleven drill holes totaling 2,040 meters and was carried out over June and July 2025. The processed core from the remaining six holes is currently in the laboratory and results are expected within the next five weeks.

Figure 1: 2025 Drill hole locations

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Highlights from this first tranche of results include 26.5m @ 0.37 Cu, including 5.5m @ 0.96% Cu and 0.116 ppm Au from hole UDD-013, 24m @ 0.424 g/t Au with 0.18% Cu from hole UDD-016. Percent levels of sulfide mineralization occur over the entire lengths of the holes, with tens of meters of massive sulfide mineralization intersected in the eastern Black River zone in holes UDD-016 and 017. Very few results reported below the laboratory detection limit (BLD) for gold or copper, while molydenum values tracked gold and copper with values of tens of ppm Mo.

Holes UDD-011, 012 and 013 possess relatively long mineralized intervals hosting significant chalcopyrite, but the copper geochemical results appear low compared to visual estimations. This includes 47 meters from 110m to 157m in hole UDD-012, that returned 0.073% Cu and 0.048 ppm Au. The copper sulfide bearing intervals in the other holes also returned copper values significantly below what was expected, even in the zones that reported up to 1% Cu. Hayasa management suspects there may be an issue with sample preparation procedures and is sending the course rejects of selected intervals to another laboratory to re-process and re-analyze as part of QA/QC procedures. We expect to share the results with our second batch of assays.

Table 1: Significant results from first batch of 2025 Urasar drill results

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Figure 2: Drill hole locations in the western half of the license (mag background)

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Dennis Moore, President and Qualified Person of Hayasa, commented: "These latest results represent a marked improvement over our maiden drilling campaign conducted late last year. Most drill holes intersected substantial intervals of breccia-hosted copper-gold mineralization, highlighted by 26.5 meters grading 0.37% Cu and 0.09 g/t Au in the Golden Vein area. In addition, Hole UDD-016, drilled at Black River on the eastern end of the license, intersected 24 meters of massive sulfide mineralization, returning nearly 0.5 g/t Au and 0.18% Cu.

"While the assay results are encouraging, visual estimations of chalcopyrite abundance in core, particularly from the Golden Vein and Copper Creek area appear under-reported in the current laboratory data. As such, coarse rejects and splits from selected intervals from holes 11, 12 and 13 will be re-processed and re-analyzed at a second laboratory for verification."

Moore continued: "Importantly, mineral assemblages observed in deeper sections of drill holes in the Golden Vein and Copper Creek (Yellow River) zones — all located at the western end of the license — display potassium feldspar and actinolite alteration. These minerals are commonly associated with porphyry copper systems, suggesting we may be targeting the apex or margin of a larger, concealed mineralized system responsible for the widespread hydrothermal alteration seen at surface.

"Moreover, as indicated in the image below, a large, untested chargeability anomaly lies to the north of our current drilling area. Testing this target will require deeper drilling, which we plan to undertake in our next campaign."

Figure 3: IP line 2 with projected drill holes plotted on the chargeability section

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Joel Sutherland, CEO of Hayasa, commented, "We're encouraged by the recent drilling and geophysical results, which confirm we are getting closer to the ore body. Given the recent successful financing, we will be determining over the next week whether we drill additional meters in 2025 at Urasar. My preference is to do additional drilling in 2025 at Urasar, however there are other variables to consider including weather, roadwork, safety conditions and drill pad preparation (3 are already prepped). These assays are materially better than our 2024 Urasar drill program and we look forward to releasing the second batch in the coming weeks, and perhaps turning the drill bit sooner than expected."

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.

Laboratory Details and QA/QC

The diamond core was cut and samples prepared under Hayasa's supervision in Armenia with the splits sent to the ALS laboratory in Romania. The prepped samples were analyzed by 30g fire assay for gold (method Au-AA23) and 34 associated elements using multi-element ICP (Induced Coupled Plasma, method ME-ICP61). This batch from five holes represents 449 mostly two-meter sample intervals. In addition, a known standard, blank or duplicate was inserted every ten samples for QA/QC purposes.

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

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/270321

FAQ

What did Hayasa Metals (HAYAF) report from its Phase 2 Urasar drilling on October 14, 2025?

Hayasa released first assays for holes UDD-010, 011, 012, 013, 014 and 016 showing highlights including 26.5m @ 0.37% Cu (incl. 5.5m @ 0.96% Cu) and 24m @ 0.424 g/t Au with 0.18% Cu; remaining assays expected in ~5 weeks.

Which drill hole returned 26.5m at 0.37% Cu in Hayasa's October 2025 results (HAYAF)?

Hole UDD-013 returned 26.5m @ 0.37% Cu, including 5.5m @ 0.96% Cu and 0.116 g/t Au.

Why is Hayasa re-processing samples from Urasar holes 011–013 (HAYAF)?

Management says copper geochemistry appears lower than visual chalcopyrite in core, so coarse rejects will be re-processed at a second lab as QA/QC verification.

How much drilling did Hayasa complete in its 2025 Phase 2 Urasar program (HAYAF)?

Phase 2 comprised 11 drill holes totaling 2,040 metres completed in June–July 2025.

Did Hayasa encounter massive sulfide mineralization in the 2025 Urasar drill results (HAYAF)?

Yes; tens of metres of massive sulfide were reported in the eastern Black River zone, notably in holes UDD-016 and UDD-017.