Vardenis Copper-Moly-Gold Project

Vardenis: Simon Meldrum Report and Appendices, NI43-101 Technical Report, IP Survey, Mag Survey

Simon Meldrum Vardenis Report: Commentary

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Simon Meldrum Vardenis Report: Appendices and Diagrams

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Vardenis 43-101 Geological Report

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Vardenis Terratec 2024 IP report

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Vardenis Campbell & Walker Geophysics processed Mag Survey

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Vardenis Campbell & Walker Mag Survey methodology

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Hayasa Metals signed an option agreement in August 2025 with Teck Resources where Teck can earn up to 80% of Mendia Resources which holds the exploration license over the Vardenis copper-gold property in central Armenia

ARMENIA

GDP: US$24 Billion (2023)
Population: 3 Million
GDP/capita: US$7000
Life expectancy: 72.4 years
Stable, westward-looking government
Mining friendly jurisdiction
with 10 operating mines of size,
Including World-Class Sotk & Amulsar (2026 first pour estimated)

UNDER EXPLORED

Tethyan Belt in Armenia

• One of the world’s largest and most prolific mineral belts, prospective for HS epithermal and porphyry Co-Mo deposits

• 8 operating mines, including world class Sotk gold mine which has produced over 4M ozs and Zangezur Copper-Moly mine

• >5M oz Amulsar mine in construction, 200k ozs per year production, first pour 2026

• Vastly underexplored

• Mineralized areas open for staking

• Hayasa has two large exploration permits prospective for world class Cu-Au deposits

• Investor friendly corporate environment

• Established Mining Law (2003) and Mining Code (2011)

• Relatively low-cost exploration and operating costs

Vardenis highlights: Dundee Precious Metals Corp property held the exploration license from 2015-2018 and spent over US$2.3M. Their work defined a 8km long gold soil anomaly as well as a 3.6km x 2km copper anomaly

Summary of the terms of the agreement

The agreement Hayasa had to acquire 100% of Mendia Resources LLC (owner of the Vardenis permit) has been superceded by a deal with Teck Resources, additional details of the agreement can be found on Sedar.