Mr. Ian Atacan reports

PASINEX COMPLETES HORZUM A.S. SHARE TRANSFER AND PROVIDES OPERATIONAL UPDATE AT PINARGÖZÜ MINE

Pasinex Resources Ltd. has provided an update further to its news release dated Dec. 12, 2025, regarding the acquisition of full ownership of Horzum A.S., which operates the high-grade Pinargozu mine located in Adana province, Turkey.

The company confirms that the share transfer process for Horzum A.S. has now been completed. All required board of directors' resolutions have been executed, the relevant share certificates have been duly endorsed and delivered to Pasinex, and the necessary filings with the Turkish Trade Registry have been completed. As a result, Pasinex Arama ve Madencilik A.S. now holds 100-per-cent ownership of Horzum A.S.

Following completion of the share transfer and corporate registrations, Horzum A.S. will formally reconstitute its board of directors and implement updated governance, authority, and signature directives. The company will then proceed with the execution of its 2026 operational plan.

Pinargozu operations update

Recent site activities at Pinargozu reflect continued operational progress and readiness for expanded development. Over the course of December, Pasinex has completed construction of a 10-by-20-metre material loading and sorting area in front of the 541 adit, installed concrete barriers and wire fencing around construction and parking areas, and advanced renovations to on-site office facilities. Meetings held with the technical, production and finance teams have focused on near-term operational planning and execution priorities.

Production at Pinargozu continues, with previously mined material now being brought to surface following completion of the external stock area. As of late December, surface stockpiles of zinc sulphide material have increased to approximately 340 tonnes. The company has also evaluated nearby crushing and ore enrichment facilities as part of its continuing logistics and processing planning.

Health, safety and training initiatives remain a priority, with no reported incidents at site and ongoing periodic training provided to mine personnel throughout the month.

Management commentary

Dr. Larry Seeley, executive chairman of Pasinex, commented: "Completing the Horzum share transfer before year-end is an important milestone for Pasinex. With full ownership now secured, we are well positioned to advance our 2026 plans at Pinargozu, where ongoing site improvements, steady production and growing mined stockpiles reflect the strength of the asset and the operational team on the ground."

Qualified person

Jonathan Challis, a fellow of the Institute of Materials, Minerals and Mining and a chartered engineer, is the qualified person as defined by National Instrument 43-101 for the scientific and technical information in this news release. Mr. Challis has reviewed and approved the scientific and technical information contained in this news release. Mr. Challis is a director of the company.

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 Canadian Institute of Mining Standing Committee on Reserve Definitions and adopted by CIM Council, and procedures for classifying mineralization were not undertaken within the context of National Instrument 43-101. The company has no intention of completing a NI 43-101-compliant technical report at this time.

Horzum AS has not followed NI 43-101 quality assurance and quality control procedures for its exploration work and has not used an independent third party laboratory for assay analysis.

About Pasinex Resources Ltd.

Pasinex Resources 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.