Pasinex Receives MAPEG Approval for Horzum AS; Announces 1,000-Metre Development Plan for Pinargözü Mine

Core Viewpoint - Pasinex Resources Limited has secured 100% ownership of Horzum Arama ve Madencilik AŞ, enabling full control over the high-grade Pinargözü zinc mine in Türkiye, with plans to expand production and explore deeper mineralization [1][2][4]. Group 1: Ownership and Corporate Structure - Türkiye's General Directorate of Mining and Petroleum Affairs (MAPEG) has approved the transfer of shares in Horzum AS to Pasinex Arama, completing the ownership transition [1][2]. - Final corporate registration procedures for the ownership transfer are expected to be completed by December 31, 2025 [2]. Group 2: Development and Exploration Plans - A comprehensive development plan has been finalized to expand production capacity and access deeper high-grade mineralization at the Pinargözü mine [3]. - The upcoming program will focus on two primary exploration opportunities, targeting geological potential and continuity of high-grade zinc mineralization [3][8]. Group 3: Management Insights - The Executive Chairman of Pasinex emphasized that the MAPEG approval is a transformative milestone, allowing the company to unlock the mine's deeper potential [4]. - A new 1,000-metre adit will be developed to access identified high-grade sulphide zones and prospective marble-altered zones, enhancing discovery potential [4][7]. Group 4: Workforce and Infrastructure Development - Recruitment of additional technical staff and underground personnel has commenced to support increased mining activities [7]. - The 1,000-metre development project is set to begin in early January 2026, including a 700-metre decline to access lower levels and additional infrastructure for ventilation and drilling [7]. Group 5: Mineralization and Resource Expansion - Drilling has intersected high-grade zinc sulphide mineralization, including 1.5 metres of material with 43% zinc at the 425-metre level, indicating significant potential for resource expansion [8]. - Numerous secondary high-grade zinc veins have been identified, with plans for a dedicated drilling campaign to evaluate their continuity and expand the resource inventory [8]. Group 6: Company Overview - Pasinex Resources Limited is a zinc-focused mining company based in Toronto, Canada, with 100% ownership of Horzum AS, which operates the Pinargözü high-grade zinc mine [11]. - The company also holds a 100% interest in the Sarıkaya Group IV lead-zinc operating license and a 51% interest in the Gunman Project in Nevada, indicating further growth potential [12].