Pasinex Resources resumes Pinargozu Zinc Mine drilling, Turkiye

Pasinex Resources Ltd. [CSE: PSE; FSE: PNX], a growing zinc focused exploration and development mining company with important germanium by-product credits, provided the following exploration and development update.

On October 7, 2026, Pasinex resumed exploration drilling at the Pinargozu Zinc Mine, Turkiye, for the first time in approximately two years following the dissolution of the previous joint-venture which had managed the mine. As the +410 underground development advances towards an area identified through prior drilling that contains significant mineralization of similar type to that exploited in the upper levels of the mine in prior years, it has now reached the first of three planned drill stations. This drilling station has now been prepared and drilling has commenced using a Diamec U6 underground drill rig. As of November 5, 2026, a total of 207.5 metres had been completed.

The two remaining drill stations will be accessed progressively as +410 development continues, providing platforms for an approximately 4,000-metre underground drilling program designed to test the deeper, down-dip continuation of the sulphide mineralization that has supported production at Pinargozu and to follow up on earlier drill intersections at the +410 m level.

Pinargozu Highlights – Exploration drilling resumed: Drilling restarted at Pinargozu on October 7, 2026, after approximately two years, with Station 1 reached and prepared.

Approximately 4,000-metre program: Drilling is planned from three stations as the +410 development progresses.

+410 development advancing: The main drift has advanced 125 metres, the first drill station has been prepared and 22.5 metres of the planned raise has been completed, including the raise connection.

Second drill rig to support production: A Teksomak Explorer drill rig has been set up at the +570 level of the +541 Adit for short-hole drilling around previously mined zones.

+410 Project Overview: The +410 Project is designed to test the deeper, down-dip continuation of sulphide mineralization previously mined above the +541 Gallery and to follow up on zinc mineralization intersected by drilling completed in 2023 at the +410 metre level. This area has not been mined to date.

Planned underground development comprises a 700-metre main drift, 150 meters of drill-station drifts and a 150-metre raise, totaling approximately 1,000 metres. The +410 Project is a key part of the Company’s plan to develop additional working areas and increase zinc sulphide production at Pinargozu over time.

Three-Station, 4,000-Metre Underground Drilling Program: The drilling program is planned as follows: Station 1: approximately 1,000 metres – station reached and prepared; drilling underway since October 7, 2026. PPU26-001 was completed at 110 metres and PPU26-002 at 97.5 metres; PPU26-003 is planned to further test the down-dip continuity of the mineralization.

Station 2: approximately 1,500 metres – to be accessed as development advances.

Station 3: approximately 1,500 metres – to be accessed as development advances; located near 2023 drill holes PPU23_072 and PPU23_083.

Continued mapping and drilling will assess the relationship between mineralization, carbonate host rocks, recrystallized zones and structural features.

The +410 Project has progressed as follows: Main Drift: 700 metres planned with 125 metres completed as of Novenmber 7, 2026. Drill-staion drifts: 150 metres planned with 60 metres completed at first station as of November 7, 2026. Raise: 150 metres planned with 22.5 metres completed as of November 7, 2026 for a total of about 1,000 metres planned and 207.5 metres completed as of November 7, 2026.

The remaining approximately 575 metres of the main drift is expected to be completed in the third quarter of 2027. The raise, drill-station drifts and drilling program follow separate schedules, and actual timing will depend on ground conditions, water management and equipment and crew availability.

Underground drilling completed in 2023 intersected zinc sulphide mineralization at the +410 metre level in drill hole PPU23_072 that assayed 1.50 mettres at 44.03% zinc (XRF).

Intervals are downhole lengths; true widths have not been determined. XRF results are indicative and are not a substitute for laboratory assay results.

In addition to the +410 program being drilled with the Diamec U6 rig, the Company has set up a Teksomak Explorer drill rig at the +570 level of the +541 Adit to carry out short-hole drilling from existing underground workings, targeting narrow veins and their possible extensions.

The aim of this drilling is to support production operations by drilling into the extensions of thin veins located in areas surrounding previously mined zones – areas that have not yet been tested by drilling. Results will also support evaluation of the mineralization geometry and the planning of further exploration.

Pinargozu Next Steps: Advance of the +410 main drift to reach Stations 2 and 3; and commencement of Teksomak short-hole drilling.

Pasinex Resources Limited is a growing, zinc-focused mining company based in Toronto, Canada. Its wholly owned subsidiary, Horzum A.Ş., owns and operates the producing Pinargozu high-grade zinc mine in Türkiye.

Pasinex also owns 100% of Aydın Teknik A.Ş., holder of the Sarıkaya Group IV lead-zinc operating licence in Kayseri Province, Türkiye, and holds a 51% interest in the Gunman Project, a high-grade zinc exploration project located in Nevada.