Hayasa Metals Urasar Copper-Gold Project, Drilling Update

Rhea-AI Summary

Hayasa Metals (OTCQB: HAYAF) has completed three drill holes totaling approximately 800 meters as part of its ongoing 2,000-metre 2025 drill campaign at the Urasar Mineral District in Armenia. The completed holes UDD-010, UDD-011, and UDD-012 reached depths of 321.0m, 128.2m, and 229.5m respectively, with UDD-013 currently in progress.

Notably, holes UDD-011 and UDD-012 intersected significant mineralized intervals containing chalcopyrite, pyrite, and minor bornite. The company is exploring a copper-gold mineralized body that strikes east-west for approximately 900 meters between the Copper Creek zone and Golden Vein adits, part of a broader 15-kilometer-long mineralized lineament.

Additionally, the company granted 750,000 stock options at $0.12 per share with a five-year term, vesting over 24 months.

Positive

• Multiple significant mineralized intervals discovered in holes UDD-011 and UDD-012
• Exploration targets a substantial 900-meter copper-gold mineralized body
• Part of a broader 15-kilometer-long mineralized lineament indicating significant potential
• Soviet-era geological report provides historical copper assay data to guide exploration

Negative

• Only 800 meters of the planned 2,000-metre drill campaign completed so far
• Assay results not yet available from completed drill holes
• Stock options grant at $0.12 may indicate current low share price

Vancouver, British Columbia--(Newsfile Corp. - June 26, 2025) - Hayasa Metals Inc. (TSXV: HAY) (OTCQB: HAYAF) ("Hayasa" or the "Company") is pleased to announce the completion of three drill holes totaling approximately 800 meters as part of its ongoing 2,000-metre 2025 drill campaign at the Urasar Mineral District in Armenia.

Campaign to Date

The Company has completed drill holes UDD-010, UDD-011, and UDD-012 to depths of approximately 321.0 m, 128.2 m, and 229.5 m, respectively. Hole UDD-013 is currently in progress and is expected to reach a final depth of approximately 200 m.

Drill holes UDD-010 and UDD-011 were completed in the Copper Creek area, while UDD-012 and UDD-013 are located in the Golden Vein zone, as illustrated in Figure 1 below. The Company plans to drill an additional two holes at the Black River prospect, two additional holes within the Copper Creek and Golden Vein zones and one hole at Oxide Basin (see Hayasa Metals news release dated June 3, 2025).

As highlighted in the aforementioned news release, Hayasa recently acquired a Soviet-era (circa 1960) geological report detailing copper assay results from historic exploration adits. The Company's 2025 drill campaign will be directed in part towards targeting the mineralized zones defined by this historic work.

Dennis Moore, President of Hayasa, stated: "We are putting metal in the box this summer. Holes UDD-011 and UDD-012 intersected multiple significant mineralized intervals-spanning tens of meters-of intensely altered volcanics and breccias hosting mineralized quartz stockworks and 1 to 5 cm-wide quartz veins containing chalcopyrite, pyrite, and minor bornite."

Moore added: "The objective of this campaign is to better understand the extent and geometry of a wide, copper-gold mineralized body which strikes east-west for approximately 900 meters between the Copper Creek zone and the Golden Vein adits. This mineralization is part of the broader 15-kilometer-long mineralized lineament that defines the Urasar Mineral District including the Oxide Basin area to the west and the Black River area to the east."

Joel Sutherland, CEO of Hayasa Metals, commented: "The length of mineralization we are seeing is encouraging; particularly as we are not yet halfway through our 2025 Urasar program."

Figure 1. Map showing drill hole locations at Copper Creek and Golden Vein.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3169/256830_3d37a61f84566aa2_002full.jpg

Figure 2. Stockwork with sulfide in Hole UDD-012

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3169/256830_fig2hayasa.jpg

Figure 3. Stockwork mineralization in Hole UDD-011

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3169/256830_fig3hayasa.jpg

Grant of Stock Options

Hayasa's Board of Directors has approved the granting of stock options pursuant to the Company's 2024 omnibus equity incentive plan. The stock options will entitle the holders to purchase a total of 750,000 common shares in the capital stock of the Company at a price of $0.12 per common share. The grant includes 450,000 stock options granted to the Company's three independent directors, 100,000 stock options granted to the Company's country manager in Armenia and 200,000 stock options granted to an independent geological adviser. The stock options have a term of five years and will vest over a 24-month period.

About Urasar

Hayasa Metals holds a 3,392-hectare exploration license over the Urasar Mineral District in northern Armenia. The project spans a 15 km mineralized corridor following the Yellow River and Black River valleys. The geology comprises oceanic serpentenized ophiolites thrust over Tertiary-aged volcanics, volcanoclastics, and limestones-an analogous setting to the 4+ million oz Zod (Sotk) deposit located ~100 km to the southeast along the same regional-scale lineament.

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://x.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 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/256830

FAQ

What progress has HAYAF made in its 2025 Urasar drill campaign?

Hayasa Metals has completed three drill holes totaling 800 meters out of the planned 2,000-metre campaign, with holes UDD-010, UDD-011, and UDD-012 reaching depths of 321.0m, 128.2m, and 229.5m respectively.

What mineralization has Hayasa Metals found in the Urasar project?

The company discovered multiple mineralized intervals spanning tens of meters in holes UDD-011 and UDD-012, containing chalcopyrite, pyrite, and minor bornite in altered volcanics and breccias.

How large is the mineralized zone at HAYAF's Urasar project?

The project contains a copper-gold mineralized body stretching 900 meters between Copper Creek and Golden Vein zones, part of a larger 15-kilometer-long mineralized lineament.

What stock options did HAYAF grant in June 2025?

Hayasa Metals granted 750,000 stock options at $0.12 per share with a five-year term, including 450,000 to independent directors, 100,000 to the Armenia country manager, and 200,000 to a geological adviser.

What are the next steps in HAYAF's 2025 drilling program?

The company plans to drill two additional holes at Black River prospect, two more holes in Copper Creek and Golden Vein zones, and one hole at Oxide Basin.