Hayasa Metals Completes 2025 Drilling Program at Urasar; Upcoming Phase 2 2025 Drill Program at Vardenis

Rhea-AI Summary

Hayasa Metals (OTCQB:HAYAF) has completed its Phase 2 diamond drill program at the 100%-owned Urasar Mineral District in northern Armenia, drilling 2,040.1 meters across eleven holes. The program targeted five prospects along a 15 km-long mineralized corridor, including Western Zone (Copper Creek, Oxide Basin, Golden Vein) and Eastern Zone (Black River, Brick House).

The company has submitted approximately 400 core samples for analysis, with results expected in late September 2025. Additionally, Hayasa announced the commencement of its 2025 Vardenis drill campaign in mid-August, planning 8-10 drill holes totaling 3,400 meters. The Vardenis project, located 20kms from the Amulsar deposit, shows potential for hosting a Tier-1 porphyry copper-molybdenum deposit, attracting interest from major mining companies.

Positive

• Successful completion of 2,040.1-meter Phase 2 drilling program at Urasar
• Copper sulfide mineralization observed in most drill holes, particularly in Golden Vein area
• Vardenis project shows potential for Tier-1 porphyry deposit, attracting major mining companies' interest
• Extensive geological work completed including MT surveys, IP survey, soil sampling, and ground mag survey

Negative

• Assay results not yet available, pending until late September 2025
• Limited resources noted by management for completed work

Vancouver, British Columbia--(Newsfile Corp. - August 6, 2025) - Hayasa Metals Inc. (TSXV: HAY) (OTCQB: HAYAF) (FSE: FR2) ("Hayasa" or the "Company") is pleased to announce the successful completion of its Phase 2 diamond drill program at its 100%-owned Urasar Mineral District in northern Armenia; and the planned commencement of the 2025 drill campaign at the Company's Vardenis copper-gold project, 20kms along strike from the Amulsar deposit.

During June and July 2025, a total of 2,040.1 meters were drilled across eleven diamond drill holes at the Urasar project. The program targeted five prospects along the 15 km-long mineralized corridor, including:

• Western Zone: Copper Creek, Oxide Basin, and Golden Vein
• Eastern Zone: Black River and Brick House

Approximately 400 core samples from drill holes UDD-010 through UDD-016 have been submitted for preparation and laboratory analysis. Assay results are expected in late September this year. Logging, cutting, and processing of the remaining holes are ongoing. Detailed summaries of the drill program, including tables and maps, are provided in the figures below.

Figure 1. Urasar Phase 2 Drill Hole Summary

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https://images.newsfilecorp.com/files/3169/261468_urasarimage.jpg

Figure 2. Drill hole locations: 2025 (light blue), 2024 (magenta)

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https://images.newsfilecorp.com/files/3169/261468_7eac1a7b94323b81_003full.jpg

Figure 3. Western area of license: Oxide Basin, Copper Creek, Golden Vein

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https://images.newsfilecorp.com/files/3169/261468_7eac1a7b94323b81_004full.jpg

Figure 4. Black River drill hole traces with IP lines

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https://images.newsfilecorp.com/files/3169/261468_7eac1a7b94323b81_005full.jpg

Commencement of 2025 Drill Program at Vardenis

Hayasa is also pleased to announce that the 2025 Vardenis drill campaign will begin in mid-August. The program will consist of eight to ten drill holes, totaling a minimum of 3,400 meters, targeting the northern portion of the 94 km² license area. This region hosts the most promising molybdenum anomalies and low-resistivity/high chargeability zones identified through the 2024 Induced Polarization (IP) survey and a recently completed magneto-telluric (MT) survey.

Drill pad construction is currently underway, and final planning of drill hole locations is in progress. An updated drill plan map will be released at the start of the campaign.

Chairman & President Commentary

Dennis Moore, President, and Qualified Person for Hayasa Metals, commented:

"This is an exciting time for our Company. We've put significant effort into preparing for these drill campaigns-conducting MT surveys, improving road access, and working closely with geological specialists and local contractors. The 2,000-meter, eleven-hole program at Urasar has concluded successfully, and I'm particularly encouraged by the copper sulfide mineralization observed in most holes, especially those from the Golden Vein area."

Moore continues: "We're now turning our focus to Vardenis. With its extensive alteration footprint-the largest in Armenia-and strong geophysical and geochemical signatures, we believe Vardenis has the potential to host a Tier-1 porphyry copper-molybdenum deposit. Interest from several major mining companies underscores this potential. This next drill program is a critical step toward testing that thesis."

CEO Commentary

Joel Sutherland, CEO for Hayasa Metals, commented:

"Congrats to the team in the field for completing the second 2,000m program at Urasar in less than 9 months. Investors should understand that the team at Hayasa has done an exceptional amount of work with limited resources including: a just completed Magneto-Telluric survey at Vardenis and Urasar, and incorporating findings from Simon Meldrum's analysis. Additionally, at both properties: we've completed an IP survey, performed additional soil sampling, and finished the ground mag survey. Not to mention the addition of two high quality targets in our project pipeline identification. Given the visible metal in the box at Urasar, we look forward to the assays out in September and getting started on Vardenis."

Figure 5. Select core photos from 2025 Urasar 2,000m drilling campaign

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https://images.newsfilecorp.com/files/3169/261468_selectcore.jpg

About Hayasa Metals

Hayasa Metals Inc. is a copper and gold exploration company focused on advancing its highly prospective projects in Armenia. The Company is committed to responsible exploration and sustainable development practices while creating long-term value for shareholders.

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 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 at Vardenis and Urasar. 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 regulations. 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/261468

FAQ

What are the key findings from Hayasa Metals' (HAYAF) 2025 Urasar drilling program?

The program completed 2,040.1 meters across eleven diamond drill holes, with copper sulfide mineralization observed in most holes, particularly in the Golden Vein area. Assay results from approximately 400 core samples are expected in late September 2025.

What is the scope of Hayasa Metals' upcoming Vardenis drill program in 2025?

The Vardenis program will include 8-10 drill holes totaling 3,400 meters, targeting the northern portion of the 94 km² license area, focusing on molybdenum anomalies and low-resistivity/high chargeability zones.

Where are Hayasa Metals' (HAYAF) main projects located?

Hayasa's main projects are located in Armenia, with the Urasar Mineral District in northern Armenia and the Vardenis copper-gold project situated 20kms from the Amulsar deposit.

What geological surveys has Hayasa Metals completed at its projects?

Hayasa has completed multiple surveys including Magneto-Telluric (MT) surveys at both Vardenis and Urasar, Induced Polarization (IP) surveys, additional soil sampling, and ground magnetic surveys at both properties.

What is the potential of Hayasa Metals' Vardenis project?

The Vardenis project features the largest alteration footprint in Armenia and shows potential to host a Tier-1 porphyry copper-molybdenum deposit, attracting interest from several major mining companies.