Mr. Joel Sutherland reports

HAYASA METALS ANNOUNCES COMMENCEMENT OF DRILL PROGRAM AT URASAR PROJECT, ARMENIA

Hayasa Metals Inc. has commenced a 1,000-metre diamond drilling program at the Urasar project in northern Armenia. The program will comprise two drill holes, UDD-022 and UDD-023, targeting the Oxide Basin and Silica West prospects, respectively, in the far western portion of the Urasar exploration permit.

The drilling will be carried out by the AT Group, a drilling contractor based in Yerevan, Armenia, employing an Atlas Copco CS-14 machine. The drill rig is being mobilized to site, with the first hole expected to be collared June 19.

In May, 2026, Hayasa completed a six-line, 53-station audio-magnetotelluric (AMT) geophysical survey at Urasar, following a successful three-line orientation survey conducted in June, 2025 (see Hayasa's news release dated June 11, 2026). Interpretation of the resistivity data has identified several zones of low resistivity (high conductivity) that may correspond to sulphide mineralization intersected in previous drill holes UDD-001, UDD-011 and UDD-014.

Hole UDD-021 was drilled in November, 2025, to test this geological model but was abandoned at a depth of 235 metres due to difficult ground conditions and the onset of a winter snowstorm. Despite being terminated prematurely and not reaching the targeted depth, UDD-021 intersected some of the strongest mineralization encountered at Urasar to date, including 39 metres grading 0.50 per cent copper and 0.18 gram per tonne gold from 11 to 50 metres, and 52 metres grading 0.11 per cent copper from 163 to 215 metres depth.

The planned drill program is designed to test near-vertical AMT anomalies identified on profiles 1 and 2 at the western end of the property. These targets are supported by coincident anomalous surface geochemistry and mapped hydrothermal alteration. This portion of the licence area hosts intensely altered siliceous ridges characterized by iron oxide replacement of sulphides, together with localized occurrences of unoxidized bornite mineralization.

Hayasa management comments

Hayasa president and qualified person Dennis Moore stated: "This new AMT data from Urasar reinforces what was observed on the three lines completed last year. The 2026 data set shows several near-vertical structures in the westernmost profiles that occur beneath zones hosting anomalous gold and copper surface geochemistry as well as strong to intense alteration. Now, it's time to drill test these targets."

Hayasa chief executive officer Joel Sutherland, stated: "The 2025 late season hole with 39 metres of 0.5 per cent copper and 0.19 gram per tonne gold near surface was encouraging even though we did not achieve getting to 400 metres depth. These planned holes are the first two deeper holes at Urasar and are supported by the recent geophysical AMT survey just completed."

Qualified person

The content of this news release was reviewed and approved by Mr. Moore, Hayasa's president and chairman and a qualified person as defined by National Instrument 43-101.

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