Core Viewpoint - Pasinex Resources Limited has successfully completed the acquisition of full ownership of Horzum A.Ş., which operates the high-grade Pinargözü Mine in Türkiye, marking a significant milestone for the company as it prepares to advance its operational plans for 2026 [1][6]. Company Updates - The share transfer process for Horzum A.Ş. has been finalized, with all necessary Board resolutions executed and filings completed, resulting in Pasinex Arama holding 100% ownership of Horzum A.Ş. [1] - Following the completion of the share transfer, Horzum A.Ş. will reconstitute its Board of Directors and implement updated governance and operational directives [2]. Operational Progress - Recent activities at the Pinargözü site indicate ongoing operational progress, including the completion of a 10 by 20 metre material loading and sorting area, installation of safety barriers, and renovations to office facilities [3]. - Production at Pinargözü continues, with surface stockpiles of zinc sulphide material increasing to approximately 340 tonnes by late December [4]. Health and Safety - Health, safety, and training initiatives are prioritized, with no reported incidents at the site and ongoing training for mine personnel throughout December [5]. Management Commentary - The Executive Chairman of Pasinex highlighted the importance of completing the Horzum share transfer before year-end, positioning the company to advance its plans at Pinargözü, supported by ongoing site improvements and production [6]. Company Profile - Pasinex Resources Limited is a zinc-focused mining company based in Toronto, Canada, with its subsidiary Horzum A.Ş. operating the Pinargözü high-grade zinc mine in Türkiye [9]. - The company also holds a 100% interest in the Sarıkaya Group IV lead-zinc operating license in Kayseri Province, Türkiye, and a 51% interest in the Gunman Project in Nevada [10]. Management Team - Pasinex is led by a seasoned management team with extensive experience in mineral exploration and mine development, committed to exploring and extracting high-grade material while maintaining safety and environmental standards [11].

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].

Core Insights - Pasinex Resources Limited reported financial results for the three and nine months ended September 30, 2025, showing a net income of $42,989 for the quarter but a net loss of $1,128,423 for the nine-month period, primarily due to an equity loss compared to an equity gain in the previous year [2][8] - The company has made significant progress in acquiring full ownership of key assets, including the Horzum zinc mine and the Sarıkaya project, which are expected to enhance its operational capacity and profitability [3][4][8] Financial Performance - For the three months ended September 30, 2025, the share of net equity loss from joint ventures was $(77,708), compared to a gain of $112,432 in 2024 [2] - The consolidated net income (loss) for the nine months ended September 30, 2025, was $(1,128,423), a significant increase in loss from $(256,655) in 2024, attributed to higher general and administrative costs and interest expenses [2] - Total assets increased to $4,053,376 as of September 30, 2025, from $3,557,225 in 2024, while total liabilities decreased to $3,869,640 from $4,900,852 [2] Recent Developments - On September 11, 2025, Pasinex signed a Share Transfer and Settlement Agreement with Kurmel Holding to acquire 100% ownership of Horzum A.Ş., which includes the Pinargözü zinc mine [3][4] - The company also completed a private placement of common shares, raising gross proceeds of C$2,331,540, increasing the total shares outstanding to 204,813,876 [7] - The company announced a change in its financial year-end from December 31 to March 31 to align better with industry peers [6] Strategic Outlook - Pasinex is focused on developing high-grade zinc deposits in Türkiye and Nevada, with zinc grades ranging from 25% to 50%, which are economically equivalent to copper grades of approximately 9% to 15% [10][11] - The company aims to achieve cash flow positivity within the next two years, supported by a detailed development and exploration plan for its mines [8] - The Sarıkaya license is highlighted as a significant opportunity for direct shipping ore and potential major zinc discoveries [12]

Core Viewpoint - Pasinex Resources Limited has received approval from Türkiye's General Directorate of Mining and Petroleum Affairs for the transfer of shares in Aydın Teknik Madencilik, resulting in 100% ownership of the Sarikaya zinc project, which is set to advance into exploration and development phases [1][2][3] Project Overview - The Sarikaya project is a high-grade, carbonate-hosted zinc deposit located in Kayseri Province, Türkiye, featuring mineralization typical of the Central Anatolian zinc belt, with grades between 30% and 50% zinc [3] - The project benefits from excellent infrastructure, including paved road access and proximity to established mining services, and is strategically located near Pasinex's producing Pinargözü mine [3] Near-Term Development Plan - The company plans to implement initial exploration and mine development activities at Sarikaya through March 31, 2026, focusing on organization building and technical work while adhering to safety and environmental standards [2][5] - Key initiatives include detailed mapping, underground development, and the start of exploration drilling, with the goal of initiating operations during 2026 [5][6] Management Commentary - The Executive Chairman of Pasinex highlighted the MAPEG approval as a significant milestone, emphasizing the company's commitment to advancing the Sarikaya project and preparing for underground drilling in early 2026 [6][7] - The company aims to begin small-scale production by mid-2026 while intensifying exploration efforts to further define the deposit [7] Company Background - Pasinex Resources Limited is a zinc-focused mining company based in Toronto, Canada, with full ownership of the Pinargözü high-grade zinc mine in Türkiye and a 51% interest in the Gunman Project in Nevada [10][11] - The company is led by a seasoned management team with extensive experience in mineral exploration and mine development, focusing on high-grade ore extraction and value creation for stakeholders [12]

Core Viewpoint - Pasinex Resources Limited has successfully closed a non-brokered private placement of common shares, raising gross proceeds of C$ 2,331,540, which will be utilized for advancing the Sarikaya project and general working capital [1][3]. Offering Details - The offering involved the issuance of 31,087,200 common shares at a price of C$ 0.075 per share [7]. Use of Proceeds - Net proceeds from the offering will be allocated to: - Installment payments to the previous owner - Underground development - Drilling and mine equipment costs - Permitting costs - General working capital - Advanced exploration activities within the Sarikaya license area [3]. Management Commentary - Dr. Larry Seeley, Executive Chairman, expressed gratitude to shareholders for their support and highlighted the company's strengthened management and board. He noted the conversion of C$ 2 million of shareholder loans into common shares, indicating confidence in the company's projects. The successful financing is expected to enhance the company's balance sheet and support development and production growth [4]. Company Overview - Pasinex Resources Limited is a zinc-focused mining company based in Toronto, Canada, owning 100% of Horzum AŞ, which operates the Pinargozu high-grade zinc mine in Türkiye. The company also holds a 51% interest in the Gunman Project in Nevada and 100% of the Sarıkaya Group IV lead-zinc operating license in Türkiye [5][6]. Insider Participation - Insiders subscribed for a total of 2,000,000 common shares, generating gross proceeds of C$ 150,000, which is classified as a related party transaction [7]. Securities and Regulations - Following the offering, the total number of common shares issued and outstanding is 204,813,876. All securities issued are subject to a statutory hold period of four months in accordance with Canadian securities laws [7].

Core Points - Pasinex Resources Limited has announced significant corporate developments, including the acquisition of the Sarıkaya zinc project, a change in financial year-end, updates on board nominations, progress on private placement financing, and the granting of stock options [1] Acquisition of Sarıkaya Zinc Project - The acquisition of the Sarıkaya zinc project in Türkiye has been completed, with Pasinex Arama now holding all outstanding shares of Aydın Teknik. The project features 30%-50% high-grade, carbonate-hosted zinc mineralization and is located near the Pinargozu mine [2] - The acquisition consolidates Pasinex's operations in Türkiye, as it now controls 100% of both the Pinargozu and Sarıkaya projects [2] Change in Financial Year-End - The company has changed its financial year-end from December 31 to March 31 to align its reporting cycle with industry peers. A transitional report will cover a fifteen-month period from January 1, 2025, to March 31, 2026 [3] Board Nomination and AGM - Dr. Mehmet Kömürcü has been nominated for election to the Board at the upcoming Annual General Meeting (AGM). He brings extensive experience in corporate governance and mining [4] - The AGM is scheduled for November 21, 2025, with a record date for voting set as October 17, 2025 [5] Private Placement Financing Update - The company has received strong investor support for its private placement financing, with over CAD $1.2 million in subscriptions out of a CAD $2.15 million offering. The financing is expected to close soon [6] Grant of Stock Options - Pasinex has granted 2,500,000 stock options to directors, officers, and key employees, which vest immediately and are exercisable at $0.075 per share [7] Management Comment - The Executive Chairman highlighted the transformative nature of recent developments, emphasizing the strategic control over two zinc projects and the positive outlook for growth and exploration [9]

Core Viewpoint - Pasinex Resources Limited is advancing towards full ownership of the Sarıkaya zinc project in Turkey through an addendum to its agreement with Abdullah Aydın, which aligns payments with project milestones and sets the stage for further exploration and development [1][2][10]. Agreement Details - The revised agreement facilitates the share transfer of Aydın Teknik Madencilik ve İnşaat Sanayi ve Ticaret A.Ş. to Pasinex Arama, contingent upon approvals from Türkiye's General Directorate of Mining and Petroleum Affairs and other corporate steps [2][3]. - A total of USD 2,250,000 remains payable by Pasinex Arama, with a USD 250,000 payment due by September 30, 2025, to trigger the share transfer [9]. Next Steps - Following the share transfer, Aydın Teknik will be wholly owned by Pasinex Arama, which plans to extend the existing adit to access a newly identified high-grade zinc zone (30-50% zinc) [5][6]. - Systematic mapping, sampling, and geophysical surveys will be initiated to define drill targets and identify additional adit locations, supporting the development of a refined geological model for the Sarıkaya project [6]. Project Potential - The Sarıkaya project is characterized as a high-potential addition to Pasinex's zinc portfolio, located in a historically rich mining area in central Türkiye, approximately 300 km from major ports [7]. - The project hosts high-grade, carbonate-hosted zinc mineralization with significant discovery potential, as no modern geological surveys have been conducted to date [8]. Management Commentary - Management emphasizes the strategic importance of the Sarıkaya project, viewing it as a cornerstone for future growth and value generation for shareholders, complementing existing operations at the Pinargözü mine [10]. Company Overview - Pasinex Resources Limited is a zinc-focused mining company based in Toronto, Canada, owning the producing Pinargozu high-grade zinc mine and holding a 51% interest in the Gunman Project in Nevada [11][12].

Core Viewpoint - Pasinex Resources Limited has executed a Share Transfer and Settlement Agreement to acquire 100% ownership of Horzum A.Ş., which includes the Pinargözü zinc mine and other licenses in Türkiye, enhancing its operational capabilities and growth potential [1][2][4]. Agreement Details - Kurmel Holding will transfer its 50% shareholding in Horzum A.Ş. to Pasinex Arama, subject to approval by Türkiye's General Directorate of Mining and Petroleum Affairs (MAPEG) [2]. - Upon completion, Pasinex Arama will fully own Horzum A.Ş., which includes the Pinargözü zinc mine and the Akkaya and Mahyalar licenses [2]. Strategic Rationale and Next Steps - Full ownership of Horzum A.Ş. is expected to streamline decision-making, support further exploration and production at Pinargözü, and facilitate underground access to Akkaya [4]. - The share transfer will be submitted to MAPEG for approval, followed by corporate registration steps to finalize the transfer [4]. Management Commentary - The Executive Chairman of Pasinex stated that this Agreement is a decisive step toward full ownership, aligning payments to performance and clearing a path for continued exploration and production at Pinargözü [5]. - The Chairman of Horzum A.Ş. expressed optimism about resuming exploration and development at Pinargözü, where past operations have shown potential for low-cost, high-grade direct shipping ore [5]. Equipment and Land Transfer - Equipment belonging to Horzum A.Ş. will be allocated between the parties, with essential equipment remaining with Horzum A.Ş. [6]. - Three parcels of land will be transferred for a fee of $10,000 USD, satisfied by the transfer of equipment to Kurmel Holding [6]. Production-Linked Payments - After completion and contingent on production at Pinargözü, Pasinex Arama will pay Kurmel Holding $600,000 upon production of 10,000 tonnes and $1,000,000 upon cumulative production of 20,000 tonnes [6]. - Payments are contingent on achieving economic production and meeting grade targets [6]. Future Prospects - Full control of Horzum A.Ş. and its profitable production history augurs well for Pasinex's future success [7]. - Pasinex also holds a 51% interest in the Gunman Project in Nevada and has secured an option to acquire a 100% interest in the Sarikaya license in Türkiye, indicating significant potential for near-term profitability [8].

Core Viewpoint - Pasinex Resources Limited reported financial results for Q2 2025, showing a net loss of $0.3 million, with challenges stemming from lower equity income, increased legal and interest expenses, and foreign exchange losses, despite lower exploration costs [2][3]. Financial Performance - Share of net equity gain from joint venture for Q2 2025 was $18,633, down from $309,802 in Q2 2024 [2] - Consolidated net loss for Q2 2025 was $(282,935), compared to $(296,550) in Q2 2024 [2] - Basic and diluted net income per share for Q2 2025 was $(0.002), consistent with Q2 2024 [2] - Net cash used in operating activities for Q2 2025 was $(322,122), compared to $(357,731) in Q2 2024 [2] - Total assets as of June 30, 2025, were $3,434,506, down from $3,557,225 in June 2024 [2] - Total liabilities increased to $5,759,786 as of June 30, 2025, from $4,900,852 in June 2024 [2] - Total shareholders' deficit grew to $(2,325,280) as of June 30, 2025, compared to $(1,343,627) in June 2024 [2] Operational Data - Zinc product mined (wet) tonnes for Q2 2025 were 280, down from 1,225 in Q2 2024 [2] - Zinc product sold (wet) tonnes for Q2 2025 were 543, compared to 994 in Q2 2024 [2] - Average grade of zinc sulphide product sold in Q2 2025 was 47.8%, slightly down from 49.0% in Q2 2024 [2] Strategic Developments - The company made additional payments of US$100,000 towards the Sarıkaya project, totaling US$350,000 of the agreed US$2,600,000 [2] - A non-brokered private placement of common shares was announced on July 15, 2025, for gross proceeds of up to $2.15 million [2] - On July 10, 2025, 28.8 million shares were issued at $0.075 to settle $2.16 million of outstanding debt [2] Management Commentary - The Executive Chair emphasized the company's strategy of advancing the Sarıkaya acquisition, strengthening the balance sheet through equity financing, and exploring debt financing options for future growth [3]. Industry Outlook - Pasinex is focused on building a zinc mining company through the acquisition and development of high-grade zinc deposits in Türkiye and Nevada [4]. - Türkiye is highlighted as a favorable jurisdiction for zinc exploration, with deposits containing 25% to 50% zinc, equating to copper grades of approximately 9% to 15% at a copper price of US$5 per pound [5]. - Mining costs are estimated between US$200 to US$300 per tonne of ore, with after-tax margins generally between 30% and 50% [6]. - The Sarıkaya license is noted as a significant near-term opportunity for direct shipping ore and potential major zinc discoveries [7].

Core Viewpoint - Pasinex Resources Limited is conducting a non-brokered private placement to raise approximately CDN $2,150,000 for the acquisition of the Sarikaya mine property in Türkiye, with initial investor commitments of about CDN $500,000 received to date [1][2]. Group 1: Offering Details - The private placement will offer common shares at a price of CDN $0.075 per share, with a minimum subscription amount of CDN $15,000 for accredited investors [1][3]. - The offering is expected to close on or about July 31, 2025, pending regulatory approvals and customary closing conditions [4]. - Shares issued will be subject to a statutory hold period of four months from the date of issuance in accordance with Canadian securities laws [4]. Group 2: Use of Proceeds - The net proceeds from the private placement will primarily be used to complete the purchase of the Sarikaya mine property, which has been previously announced [2]. - The acquisition of Sarikaya is seen as a strategic move to enhance the company's portfolio of high-grade zinc exploration and mining properties [6][9]. Group 3: Company Overview and Strategy - Pasinex Resources Limited focuses on high-grade zinc mining, with existing operations in Türkiye and Nevada, and aims to leverage its experience to drive growth and profitability [10]. - The company has a strong track record in mining high-grade zinc, with grades ranging from 25% to 50% in Türkiye and 14% to 24% in Nevada, demonstrating economic strength and high after-tax margins [6][10]. - The Sarikaya project is highlighted as a top priority, with secured exploration and mining permits and existing infrastructure that supports immediate mining operations [8][10].